Q2 2023 Lantern Pharma Inc Earnings Call

August 9, 2023

Yeah.

[music].

You have joined the meeting as an attendee and will be muted throughout the meeting.

And welcome to our second quarter 2023 earnings call I will be your host for today's call.

I will be your host for today's call.

As a reminder, this call is being recorded and all attendees are in a listen only mode. We will open up the call for for all questions and answers after a management presentation and webcast replay of today's conference call will be available on our website at lantern pharma dot com shortly after the call.

As a reminder, this call is being recorded and all attendees are in a listen only mode. We will open up the call for for all questions and answers after our managements presentation. A webcast replay of today's conference call will be available on our website at lantern pharma dot com shortly after the call.

We issued a press release after market closed today summarizing our financial results and progress across the company for the second quarter ended June 30th 2023.

A copy of this release is available through our website at lantern pharma Dot Com, where you will also find a link to the slides that management will be referencing on today's call.

I would like to remind everyone that remarks about future expectations performance estimates and prospects constitute forward looking statements for purposes of Safe Harbor provisions under the private Securities Litigation Reform Act of 1995 Lantern pharma cautions that these forward looking forward looking statements are subject to risks and uncertainties.

Looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those anticipated.

That may cause actual results to differ materially from those anticipated.

A number of factors could cause actual results to differ materially from those indicated by forward looking statements, including results of clinical trials and the impact of competition.

Additional information concerning factors that could cause actual results to differ materially from those in a forward looking statements can be found in our annual report on Form 10-K for the year ended December 31, 2022, which is on file with the SEC and available on our website.

Additional information concerning factors that could cause actual results to differ materially from those in the forward looking statements can be found in our annual report on Form 10-K for the year ended December 31, 2022, which is on file with the SEC and available on our website.

Forward looking statements made on this conference call are as of today August nine 2023, and lantern pharma does not intend to update any of these forward looking statements to reflect events from circumstances that occur after today unless required by law.

The webcast replay of the conference call and webinar will be available on <unk> website.

On today's webcast, we have lands from pharmacy E O punished Sharma and CFO , David Margrave panel will start things off with an overview of landrum strategy and business model and highlight recent achievements in our operations after which David will discuss our financial results. This will be followed by some concluding comments from partner and then we'll open up the call for cube.

On today's webcast, we have learnt from pharma CEO Panna Sharma and CFO , David Margrave panel will start things off with an overview of landrum strategy and business model and highlight recent achievements in our operations after which David will discuss our financial results. This will be followed by some concluding comments from partner and then we'll open up the call for Q.

Hey.

Renee.

I'd now like to turn the call over to punish Sharma, President and CEO of Lantern pharma partner. Please go ahead.

Yeah.

To hear about our second quarter results and corporate progress.

As we know this is truly a golden age for AI in medicine, and it really is just beginning.

As we know this is truly a golden age for AI medicine, and it really is just beginning it is being powered by large scale highly available computing power.

Being powered by large scale highly available computing power massive data storage. Additionally, it's being fed by health care patient and cancer data, which is more widely available and increasing levels of quality than ever before.

Massive data storage. Additionally, it's being fed by health care patients and cancer data, which is more widely available and increasing levels of quality than ever before <unk>.

Companies that harness these capabilities in the biotech and tech bio industry and make them core of their business will be long term leaders that create massive value for patients for investors and for our industry.

Companies that harness these capabilities in the biotech and <unk>.

Bio industry and make them quarter their business will be long term leaders that create massive value for patients for investors and for our industry.

Landrieu pharma is among the leaders in this transformation of the pace risks and costs of oncology drug discovery and development.

Lantern pharma is among the leaders in this transformation of the pace risks and cost of oncology drug discovery and development.

This transformation has the promise to not only make medicines faster cheaper and with increased precision for patients.

But also to help change the direction of R&D productivity and output from the pharma industry.

But also to help change the direction of R&D productivity and output in the pharma industry I will touch on this critical element later in our call.

I will touch on this critical element later in our call.

Our proprietary AI platform radar continues to have a meaningful growth in its size scope and capabilities. It is at the center of this paradigm shift towards AI driven drug development.

Just three years ago. When we went public we had only free drug programs addressing markets. We had estimated to be about $5 billion to $6 billion in potential annual therapy sales today, we have over 14 drug programs, many with orphan drug designations in additional commercial protections, we're addressing markets today estimated to be approximately.

Just three years ago. When we went public we had only free drug programs addressing markets. We had estimated to be about five to 6 billion in potential annual therapy sales today, we have over 14 drug programs, many with orphan drug designations in additional commercial protections, we're addressing markets today estimated to be approximately.

Only 14, plus $1 billion in annual therapy sales. We also diligently are assessing several additional promising programs and molecular candidates for future development.

<unk> 14, plus $1 billion in annual therapy sales. We also diligently are assessing several additional promising programs and molecular candidates for future development.

Our growing pipeline of oncology drug candidates is a real world demonstration of the rapid AI driven machine learning enabled identification and validation of new cancer insights insights, where we can understand and accelerate the focus of specific molecules towards a more targeted and more effective oncology medicine.

Importantly radar has empowered us to compress the timeline of early stage drug development, so far by an impressive 70%, while concurrently achieving about 80% reduction in the costs when benchmark with traditional drug development in the pharma industry. We think we can continue to improve upon this.

With our cutting edge AI platform radar and also our adoption of leading technologies and innovative approach. We are illuminating the path for the next generation of oncology drug discovery.

With our cutting edge AI platform radar and also our adoption of leading technologies and innovative approach we are eliminating the path for the next generation of oncology drug discovery.

In the past two years, we have successfully developed and launched 11 additional programs a testament to the agility efficiency and ground breaking nature of our approach on average. These programs are advancing from initial AI insights to first in human clinical trials in just two and a half years and an average cost of approximately $2 million per <unk>.

In the past few years, we have successfully developed and launched 11 additional programs a testament to the agility efficiency and ground breaking nature of our approach on average. These programs are advancing from initial AI insights to first in human clinical trials in just two and a half years and an average cost of approximately $2 million per <unk>.

Program some have actually even been below that these are metrics that are previously unheard of in oncology drug discovery.

In fact in a recent study published in drug discovery today and also in nature. It was reported that nearly half of the 16 largest pharma companies had negative R&D productivity for the last 20 years.

And they had spent collectively at an average of $6 2 billion for drug approval.

And they had spent collectively at an average of $6 2 billion per drug approval.

The number was slightly less than smaller pharma companies with historically figure serve as a Stark reminder, that the traditional model of big pharma R&D is not a sustainable our effective strategy and it is not the right approach to improve drug pricing or drug availability.

The number was slightly less than smaller pharma companies, but these startling figure serve as a stark reminder, that the traditional model of big pharma R&D is not a sustainable our effective strategy and it is not the right approach to improve drug pricing or drug availability.

With the escalating economic and political pressures over drug prices, it's clear that our industry, especially cancer drug prices, it's clear that our industry needs to rethink its approach fundamentally and we believe that big pharma will increase adoption of AI and computationally driven approaches to elevate above this current issue.

As we have demonstrated our radar platform has an impressive predictive accuracy of 88% in identifying which patients are most likely to respond to our drugs.

As we have demonstrated our radar platform has an impressive predictive accuracy at 88% in identifying which patients are most likely to respond to our drugs.

To respond to drugs and clinical trials, we showcased this in a real world study presented at Astro was our collaboration partner actuate for their phase II trial.

To respond to drugs in clinical trials, we showcased this in a real World study presented at Astro was our collaboration partner actuate for their phase II trial.

This is not only a good technical feat, but really a game changer for patient stratification selection by reducing the cost of trials and enrolling those patients who can ultimately benefit most from these targeted therapies by.

By combining our unique cutting edge AI with robust clinical genomics and drug response data, which we do in our platform. We believe that we have increased our ability to derisk our programs and increase the odds of success by a significant factor.

Multiple studies by academics, including work by Dr. Jason Parker, who are quoted before at University of Toronto and industry analysts have shown that the use of biomarker signatures can increase the success factor.

From 5% to 12 X and oncology clinical development.

From five to 12 X and oncology clinical development.

This reduction in risk in cost comes also with the compression of the timeline, especially in later stage trials. So this underscores our technology is immense potential to produce insights that lead to the development of targeted cancer therapies.

Currently our AI driven pipeline consists of 14 drug programs, including those under radar collaborations.

And our phase II clinical trial called the harmonic for lung cancer never smokers, our team's unwavering commitment to harnessing the power of AI for drug Discovery has also led to the formation of a partnership with <unk> University in Germany to develop the next generation of antibody drug conjugates. These are conjugates that are being designed.

And our phase II clinical trial called the harmonic for lung cancer never smokers.

Our team's unwavering commitment to harnessing the power of AI for drug Discovery has also led to the formation of a partnership with <unk> University in Germany to develop the next generation of antibody drug conjugates. These are conjugates that are being designed in advanced with our radar AI platform.

<unk>, an advanced with our radar platform.

This collaboration has the potential to pave the way for therapies with a higher efficacy a faster development timeline and significantly reduce cost at early stage development Adcs are a rapidly growing and excitement treating modality that is still in the early stages of commercial growth.

This collaboration has the potential to pave the way for therapies with a higher efficacy a faster development timeline and significantly reduce cost at early stage development.

<unk> Adcs are a rapidly growing and excitement treating modality that is still in the early stages of commercial growth.

Globally, ADC drug programs and one of the fastest growing drug development says.

Globally, ADC drug programs and one of the fastest growing drug development.

Segments and are projected to grow from $4 billion as of last year to over $14 billion by 2027.

There are many in specific instances of value creation that we've talked about but also we've also developed an entirely new company Starlight therapeutics, whose sole focus will be on CNS and brain cancers. This demonstrates Atlanta continues to be at the forefront of a transformative and aggressive approach to oncology drug discovery.

There are many in specific instances of value creation that we've talked about but also we've also developed an entirely new company Starlight therapeutics with sole focus will be on CNS and brain cancers. This demonstrates Atlanta continues to be at the forefront of a transformative and aggressive approach to oncology drug discovery.

<unk> and development as we continue to accelerate the pace of which we're developing and validating insights.

<unk> and development as we continue to accelerate the pace at which we're developing and validating insights.

These insights can lead to meaningful drug assets, we are well positioned to then partner these drug assets out with larger companies.

At this time I'm sorry at the same time.

As David will cover our CFO . Shortly we have a strong cash position has been carefully utilize to make more meaningful progress in a disciplined manner.

As David will cover our CFO . Shortly we have a strong cash position, it's been carefully utilize to make more meaningful progress in a disciplined manner.

We believe our approach is the future of developing cancer therapies, where data can be used to accelerate programs derisk the identification of issues and progress these potentially life changing medicines.

Now, let's turn to some of the more specific highlights of our progress during the second quarter.

During the second quarter, we received FDA clearance of our IND application for <unk> 184, and we subsequently activated the initial clinical sites for the program.

Now we're also identifying several potential patients for this phase II basket trial. This basket trial will serve multiple solid tumors and brain cancers.

Now we're also identifying several potential patients for this phase one basket trial. This basket trial will serve multiple solid tumors and brain cancers.

Categories that have significant unmet clinical need we also completed the IND, enabling studies for <unk> 284, <unk> 84, and 284 part of our franchise is synthetically lethal agents.

Categories that have significant unmet clinical need we also completed the IND, enabling studies for <unk> for <unk>.

184, and 284 part of our franchise is synthetically lethal agents.

Anticipating submitting the IND to the FDA by the end of August and.

Anticipate submitting the IND to the FDA by the end of August .

<unk> set the stage for a first in human phase one trial for <unk> hundred 84 in advanced non Hodgkin's lymphomas in the second half actually in Q4 of 2023.

And will set the stage for a first in human phase one trial for <unk> hundred 84 in advanced non Hodgkin's lymphomas in the second half actually in Q4 of 2023.

Data demonstrating <unk> 84 is in vitro and in vivo anti tumor potency for mantle cell lymphoma double hit lymphoma, and other non Hodgkin's lymphomas were published in <unk> in the quarter further supporting the advancement of this potentially powerful therapeutic option for a range of blood cancers.

Data demonstrating <unk> 84 is in vitro and in vivo anti tumor potency for mantle cell lymphoma double hit lymphoma is in other non Hodgkin's lymphomas were published in <unk> in the quarter further supporting the advancement of this potentially powerful therapeutic option for a range of blood cancers.

We also dosed additional patients in the phase II harmonic clinical trial of <unk> 300, and non small cell lung cancer for never smokers and expanded patient recruitment and enrollment to several additional trial sites.

We also dosed additional patients in the phase II <unk> clinical trial of <unk> 300, and non small cell lung cancer for never smokers and expanded patient recruitment and enrollment to several additional trial sites.

As I mentioned, a moment ago also we entered into a collaboration with <unk> University in Germany. During the second quarter of this is to develop breakthrough breakthrough new antibody drug conjugates that we believe will set the stage for a new generation of novel Adcs that offer higher efficacy faster development timelines and <unk>.

Significantly reduce costs and mark to market.

Difficulty reduce cost to mark to market.

Our intellectual property was also strengthened and further in.

Our intellectual property was also strengthened and further than.

In the quarter with the receipt of a notice of allowance for a U S patent covering the composition of matter totally new drug LP 284, extending commercial protection for this asset into early 2039. We also during the quarter filed five new patent applications for <unk> 84, and $2 84 that cover the use.

In the quarter with the receipt of notice of allowance for a U S patent covering the composition of matter totally new drug LPT years 84, extending commercial protection for this asset into early 2039. We also during the quarter filed five new patent applications for <unk> 84, and 284 that cover the use.

These drug candidates in combination regiments and also specific tumor subtypes, where we think the potential is highest for these drugs.

These drug candidates in combination regimens and also specific tumor subtypes, where we think the potential is highest for these drugs.

Very importantly, our continued fiscal discipline with our cash we have a balance of $48 million in cash cash equivalents in marketable securities as the end of the second quarter, which provides us a strong cash runway into 2025.

Very importantly, our continued fiscal discipline with our cash we have a balance of $48 million in cash cash equivalents in marketable securities at the end of the second quarter, which provides us a strong cash runway into 2025.

I'll now turn the call over to our CFO , David Margaret who will provide an overview of the second quarter financial results and then I'll come back with additional comments on our programs David.

I'll now turn the call over to our CFO , David Margaret who will provide an overview of our second quarter financial results and then I'll come back with additional comments on our programs David.

Thank you Panna and good afternoon, everyone I'll now share some financial highlights from our second quarter ended June 32023.

Our general and administrative expenses were approximately $1 $6 million for the second quarter of 2023.

Our general and administrative expenses were approximately $1 6 million for the second quarter of 2023.

Up slightly from approximately $1 4 million in the prior year period.

Up slightly from approximately $1 $4 million in the prior year period.

R&D expenses were approximately $3 6 million for the second quarter of 2023.

Up from approximately $3.0 million in the second quarter of 2022.

Our increased R&D expenses were in line with expectations and primarily driven by increases in research studies, and R&D related payroll and compensation expenses, which were partially offset by a decrease in product candidate manufacturing expenses.

Our increased R&D expenses were in line with expectations and primarily driven by increases in research studies, and R&D related payroll and compensation expenses, which.

Which were partially offset by a decrease in product candidate manufacturing expenses.

We recorded a net loss of approximately $4 7 million for the second quarter of 2023 or <unk> 44 per share.

Compared to a net loss of approximately $4 5 million or <unk> 41 per share for the second quarter of 2020.

Our loss from operations in the second quarter of 2023 was partially offset by interest income and other income net.

Totaling approximately $444000.

Our interest income and other income net increased by an aggregate of approximately $541000 for the second quarter of 2023 compared to the second quarter of 2022.

Our interest income and other income net increased by <unk>.

Aggregate of approximately $541000 for the second quarter of 2023 compared to the second quarter of 2022.

This increase was attributable to an increase in interest of approximately $63000.

Increases in dividend income of approximately $168000.

An increase in unrealized gains on investments of approximately $150000.

And an increase of approximately $109000 in research and development tax credit.

And an increase of approximately $109000 in research and development tax tax incentives.

<unk> incentives.

<unk> to our Australia subsidiary.

Related to our Australia subsidiary.

As of June 32023, we had approximately $10 eight 6 million shares of common stock outstanding and.

As of June 32023, we had approximately $10 eight 6 million shares of common stock outstanding.

An outstanding warrants to purchase approximately 177998 shares in.

And outstanding warrants to purchase approximately 177998 shares in.

An outstanding options to purchase approximately one 1 million shares.

These warrants and options combined with our outstanding shares of common stock.

Give us a total fully diluted shares outstanding of approximately $12 1 million shares.

Give us a total fully diluted shares outstanding of approximately $12 1 million shares as of June 32023.

As of June 32023.

Our cash position, which includes cash equivalents and marketable securities was approximately 48.0 million as of June 32023.

And we expect this balance to carry us into 2025.

Importantly, we believe our solid financial position will fuel continued growth and evolution of our radar AI platform.

Accelerate the development of our portfolio of targeted oncology drug candidates and.

Accelerate the development of our portfolio of targeted oncology drug candidates.

And allow us to introduce additional targeted products and collaboration opportunities and.

In a capital efficient manner.

Our team continues to be very productive under our hybrid operating model.

This hybrid model also removes geographic restrictions to our hiring initiatives.

Which has given us the ability to recruit extremely high caliber team members that otherwise might not have been available.

We currently have 22 employees focused primarily on leading and advancing our research and drug development efforts.

We see this number expanding slightly in coming quarters as we add additional experience.

Additional experienced and talented individuals to help advance our mission.

I'll now turn the call back to <unk> for an update on some of our development programs.

Thank you David.

As many of you know we received FDA clearance for our IND application for <unk> four in June and have already activated the initial clinical trial sites for our phase I basket trial, the clearance of the IND application was a significant milestone for our LP 184 program.

As many of you know we received FDA clearance for our IND application for <unk> 84 in June and have already activated the initial clinical trial sites for our phase II basket trial, the clearance of the IND application was a significant milestone for our <unk> hundred 84 program.

Validating our approach of leveraging AI and machine learning.

To advance our pipeline of novel drug candidates.

Insights from our AI platform radar were instrumental in our development of <unk> 84, and aided in discovering its mechanism of action identifying and prioritizing the ideal cancer subtypes to pursue and generating biomarker signatures that we can use in future clinical trials to help us with patient stratification.

Insights from our AI platform radar were instrumental in our development developing 184 and aided in discovering its mechanism of action identifying and prioritizing the ideal cancer subtypes to pursue and generating biomarker signatures that we can use in future clinical trials to help us with patient stratification.

Acacia and selection we developed these signatures.

<unk> and selection we developed these signatures.

Literally sometimes in weeks or months.

<unk>, sometimes in weeks or months prior.

Process at normally would've taken.

<unk> that normally would've taken.

Half a year to 18 months.

We believe that <unk> has blockbuster potential for patients with multiple types of advanced solid tumors and CNS cancers, many of which have no or limited effective therapeutic options. We're more excited today about the opportunity for this drug than even two and three years ago.

Two and three years ago.

Globally, the aggregate annual market potential for <unk> hundred 84 is estimated to be over 10 billion consisting of about $5 billion in solid tumors and another $5 to $6 billion for CNS cancers, both primary and those arising as a result of metastatic disease.

Globally, the aggregate annual market potential for <unk> hundred 84 is estimated to be over 10 billion consisting of about $5 billion in solid tumors and another $5 6 billion for CNS cancers, both primary and those arising as a result of metastatic disease.

L. P 184 is the first of our drug candidates to be developed entirely internally and with significant use of our AI platform to uncover the subtypes, where we believe we can meet.

L. P 184 is the first of our drug candidates to be developed entirely internally and with significant use of our AI platform to uncover subtypes, where we believe we can meet highly.

Highly underserved needs or in areas, where there is no therapeutic options. This molecule has been advanced now to a first in human phase I basket trial and the trial is designed to evaluate 35 patients and we will assess the safety and tolerability of escalating doses using a blend design.

Highly underserved needs or in areas, where there is no therapeutic options.

This molecule has been advanced now to a first in human phase one basket trial and the trial is designed to evaluate 35 patients and we will assess the safety and tolerability of escalating doses using a blend design.

We also believe that we have seen exceptional results in cancers that have DNA damage response deficiencies and that'll be also an additional target for it.

We also believe that we have seen exceptional results in cancer that have DNA damage response deficiencies and that'll be also an additional target for it.

Later phases of the trial.

The initial trial sites have been opened and we are actively screening patients for dosing with <unk> 84, we anticipate completing the trial sometime in 2024.

Another very promising molecule is one that we developed from whiteboard to a first in human clinical trial.

Another very promising new molecule is one that we developed from whiteboard to a first in human clinical trial.

In under two and a half years and with an estimated cost of under $3 million.

This drug was not even on our pipeline and public it's a very exciting molecule in the initial insights from the specific mechanism of <unk>.

This drug was not even on our pipeline. We went public it's a very exciting molecule in the initial insights from the specific mechanism of synthetically, Saudi with derived from large scale comparative data using our radar AI platform. We then leverage our GMP manufacturing process for its sister molecule <unk> four to efficiently.

Synthetic <unk>, Saudi with derived from large scale comparative data using our radar AI platform. We then leverage our GMP manufacturing process for its sister molecule <unk> four to efficiently ramp up and develop acuity for while continuing to refine the indications and mechanisms.

Up and developed 284, while continuing to refine the indication the mechanisms ultimately.

Ultimately these studies also led to an orphan designation and mantle cell lymphoma.

Ultimately these studies also led to an orphan designation and mantle cell lymphoma. Today, we are preparing for a first in human clinical phase one trial, which we expect to launch in the fourth quarter of this year.

Today, we are preparing for a first in human clinical phase one trial, which we expect to launch in the fourth quarter of this year.

As I mentioned earlier with IND, enabling studies now complete we anticipate submitting the IND.

As I mentioned earlier with IND, enabling studies now complete we anticipate submitting the IND to.

To the FDA.

By the end of this month.

And we also have already received orphan drug designation and mantle cell lymphoma.

And we also have already received orphan drug designation in mantle cell lymphoma.

The market, we believe for this mantle cell and double hit lymphoma is these are very aggressive non hodgkin lymphoma subtypes is currently about $1 2 billion in the U S and Europe , and we think that the number of globally is about two to two five times that number.

The market, we believe for this mantle cell and double hit lymphoma. These are very aggressive non hodgkin lymphoma subtypes is currently about $1 2 billion in the U S and Europe , and we think that the number of globally is about two to two five times that number.

<unk> four <unk> four represent.

<unk> for annuity four represent.

Our synthetic metallurgy franchise, which has shown significant potency and a wide range of cancers, both as monotherapy and also in combination with other agents <unk> four has selected preference for solid tumors that have high levels of <unk> expression or deficiencies in DNA repair pathways, while <unk> four has shown.

Our synthetic metallurgy franchise, which has shown significant potency and a wide range of cancers, both as monotherapy and also in combination with other agents <unk> has selected preference for solid tumors that have high levels of <unk> expression or deficiencies in DNA repair pathways, while <unk> four has shown.

<unk> efficacy in a wide range of hematologic malignancies, namely non Hodgkin's lymphomas.

<unk> efficacy in a wide range of hematologic malignancies, namely non Hodgkin's lymphoma.

And we also have seen the LP acuity for shows ability to effectively regress mantle cell lymphoma xenograft after they become refractory to both ibrutinib or bortezomib.

Both drug candidates have also shown promising activity in a range of pediatric tumors, which will be pursued with research centers focusing on children's cancers, such as University of Texas Health ingredient children's and we believe that those will be in two phase one trials once the dosing and safety has been established.

Both drug candidates have also shown promising activity in a range of pediatric tumors, which will be pursued with research centers focusing on children's cancers, such as University of Texas Health ingredients children's and we believe that those will be in two phase one trials once the dosing and safety have been established.

From <unk> 84 to 84 early trials.

Help you one or two for 284 early trials.

We also know that <unk> four has demonstrated a significant impact on a wide range of sarcomas, including Ewings sarcoma and rhabdomyosarcoma both pediatric.

We also know that <unk> has demonstrated a significant impact on a wide range of sarcomas, including Ewings sarcoma and rhabdomyosarcoma both pediatric.

Cancer is largely additionally, L. P 184, it was granted a rare pediatric disease designation in herc atypical keratoid rhabdo tumors and ultra rare cancer, which has no approved standard of care agents and largest flex children under the age of five we published with the National Cancer Institute.

Pretty unique publication will be uncovered the mechanism of pointing this drug toward these products and modeling.

Pretty unique publication, where we uncovered the mechanism of pointing this drug toward these products and modeling.

Deficient tumors, namely.

Looking at <unk> one.

And we plan on reporting out more details from these studies and the potential emerging indications later this year.

Now moving onto our phase III clinical trial of Lp's 300 initial patients in our phase II harmonic trial <unk> 300 for never smokers non small cell lung cancer have been dosed and we have five additional active trial sites that we added.

Now moving onto our phase III clinical trial of Lp's 300 initial patients in our phase II harmonic trials L. P 300 for never smokers non small cell lung cancer have been dosed and we have five additional active trial sites that we added we expect to add additional trial sites throughout this quarter and also multiple patients we're also screening and increasing.

We expect to add additional trial sites throughout this quarter and also multiple patients we're also screening and increasing.

<unk>.

We're also increasing the number of patients. We're screening this comes as a direct result of increased awareness among patient advocacy groups greater investigator interactions and briefings. Additionally.

Additionally, Dr Joseph tree.

Fox Chase Cancer Center has been appointed as lead principal investigator for our monarch study, Dr treat Brexit and a stellar focus and background are serving not only the lung cancer community, but also a background in clinical trials and the never smoker population.

Fox Chase Cancer Center has been appointed as lead principal investigator for our monarch study Dr. Treat brings with him a stellar focus and background are serving not only the lung cancer community, but also a background in clinical trials and the never smoker population.

He was recently, leading a 100 plus patient phase II interventional trial focused on never smokers with stage four disease, who had never smoked, but irrespective of their driver mutation status.

He was recently, leading a 100 plus patient phase II interventional trial focused on never smokers with stage four disease.

Who had never smoked, but irrespective of their driver mutation status sits.

It's an ideal backdrop and experience.

So, it's an ideal backdrop and experience.

And also the clinical network for via harmonic trial, and we welcome his active leadership in harmonic and with lantern.

So the clinical network for the harmonic trial and we welcome his act of leadership in harmonic and with Lantern.

We're also exploring the potential to expand the harmonic trial into Asia, specifically countries that have a higher incidence of never smokers lung cancer patients overall, we anticipate enrollment of this two arm open label randomized trial, which is targeting 90 patients should last between 14 and 18 months. The phase II trial is designed to investigate <unk> 300.

In combination with standard of care chemotherapy with a key measured endpoints being overall survival and progression free survival in a previous multicenter phase III clinical trial, what we saw was that a subset of never smokers in non small cell lung cancer.

In combination with standard of care chemotherapy with a key measured endpoints being overall survival and progression free survival.

In a previous multicenter phase III clinical trial, what we saw was that a subset of never smokers in non small cell lung cancer.

That received <unk> 300.

With chemotherapy showed a significant increase in overall two year survival overall survival of 91% increase in the never smoker population that we're given L. P 300, and 125% increase in progression free survival in that same group of never smokers versus the standard of care of cumulative <unk>.

With chemotherapy showed a significant increase in overall two year survival overall survival of 91% increase in the never smoker population that we're given L. P 300, and 125% increase in.

Progression free survival and that the same group of never smokers versus the standard of care Chemo chemo doublet.

I discussed also earlier.

Our exciting collaboration with <unk> University to develop breakthrough antibody drug conjugates. This partnership signifies an exciting strides forward in the development of next generation Adcs using our radar AI platform. The initial focus of the collaboration is to synthesize and evaluate novel Adcs linked to crypto license.

Our exciting collaboration with <unk> University to develop breakthrough antibody drug conjugates. This partnership signifies an exciting strides forward in the development of next generation agencies, using our radar AI platform. The initial focus of the collaboration is to synthesize and evaluate novel Adcs linked to crypto license.

This is a promising class of anti tumor molecule due to their potency at ultra low picomolar concentrations. We believe we can attach several of these molecules to the ADC to the antibody of interest using a fairly unique linker strategy, the <unk> based adcs or will undergo rigorous.

This is a promising class of anti tumor molecule.

Due to their potency at ultra low Picomolar concentrations. We believe we can attach several of these molecules to the ADC to the antibody of interest using a fairly unique strategy. The cryptophyte based adcs or will undergo rigorous testing across multiple cancer cell lines, both in vitro and in vivo.

<unk> across multiple cancer cell lines, both in vitro and in vivo models and we anticipate sharing initial results in the coming months.

Models, and we anticipate sharing initial results in the coming months.

We also plan to leverage our ADC development module that has been fully integrated now into radar to launch multiple ADC opportunities.

<unk> plan to leverage our ADC development module that has been fully integrated now into radar to launch multiple ADC opportunities.

Through right through later and also through our partners and also through our <unk> based collaboration with the Magic with University at Belfield.

<unk> through later and also through our partners and also through our <unk> based collaboration with the Magic with University of Belfield.

We believe the adcs are very promising treatment modality with significant opportunities for partnership and also to license with larger pharma companies.

Our AI guided strategy holds immense potential.

<unk> guided strategy holds immense potential.

To derisk, the ADC development process, while simultaneously enhancing the creation of effective and targeted agencies given the rapidly growing global ADC market currently valued at over $4 billion, but is projected to reach 14 billion in the course of the next several years by 2027, we're eager to expand our footprint and this import.

And burgeoning space.

Under the terms of our collaboration the team at Belfield University under the leadership of doctors Seabolt will synthesize optimize and provide initial testing of the crypto device and linked Adcs and <unk> has the exclusive worldwide option.

Under the terms of our collaboration the team at Belfield University under the leadership of doctors Seabolt will synthesize optimize and provide initial testing of the crypto suffice and linked Adcs and lantern has the exclusive worldwide option.

Licensed intellectual property from this collaboration from <unk> University and this IP will be generally this includes IP generally directed from our joint efforts.

<unk> licensed intellectual property from this collaboration from <unk> University.

And this IP will be generally this includes IP generally directed from our joint efforts.

We anticipate sharing the results of this work probably during the fourth quarter.

[noise] leveraging more than 34, we're now up to 34 billion data points oncology focused data points and.

Leveraging more than 34, we're now up to 34 billion data points oncology focused data points.

And we are on pace now to surpass 50 billion data points by year end or our radar platform excels.

And automated large scale biological analysis and response network analysis, yielding correlations that can be leveraged both for target identification and drug response prediction in tumors and patient <unk>.

Selection.

But it's not just about the quality of data. The radar platform also continues to evolve in terms of its capabilities. During the second quarter, we launched some pretty unique groundbreaking predictive models that enable us to assess blood brain barrier permeability of any compound. We can do this for tens of thousands of compounds a day now the capability is crucial for developed.

But it's not just about the quality of data. The radar platform also continues to evolve in terms of its capabilities. During the second quarter. We launched some truly unique groundbreaking predictive models that enable us to assess blood brain barrier permeability of any compound. We can do this for tens of thousands of compounds a day now the capability is crucial for develop.

<unk> therapies targeting neurological disorders, where crossing the blood brain barrier is often challenging by accurately predicting the permeability and availability of that compound, we can optimize the design and delivery of potential treatments.

<unk> therapies targeting neurological disorders, we're crossing the blood brain barrier is often challenging by accurately predicting the permeability and availability of the compound we can optimize the design and delivery of potential treatments.

And more importantly, say massive amounts of time and money.

That are involved in targeting and understanding blood brain barrier permeability and early stage development. Furthermore, our platforms predictive power now extensive patient response.

Are involved and targeting and understanding blood brain barrier permeability and early stage development. Furthermore, our platforms predictive power now extensive patient response.

<unk> combination usage for immune checkpoint inhibitors will talk about more about later this quarter with the immune checkpoint module now harnesses the power of the AI and machine learning modules and now radar can analyze vast amounts of data to predict how patients may or may not respond to these inhibitors. In this data includes both.

<unk> combination usage for immune checkpoint inhibitors will talk about more about later this quarter, but the immune checkpoint module now harnesses the power of the AI and machine learning modules and now radar can analyze vast amounts of data to predict how patients may or may not respond to these inhibitors. In this data includes both.

Antigen data Proteonomic data mutation data and RNA data.

And this allows us also to identify potential combinations for more personalized treatment strategies, but also very importantly for our larger farmers to actually manage the downstream.

Long term value of their investments into these immune checkpoint inhibitors.

And as I already discussed we also made significant strides for designing the templates for next generation Adcs using our ADC module and we think this has the potential to revolutionize the way Adcs are created and have better high potency therapeutic payloads, while minimizing damage to healthy tissue systems. So radar continues to it.

And as I already discussed we also made significant strides for designing the templates for next generation ADC using our ADC module and we think this has the potential to revolutionize the way Adcs are created and have better high potency therapeutic payloads, while minimizing damage to healthy tissue and systems. So radar continues to it.

Hence its capabilities both in size and scope, but also in functionality and we believe that this will secure continued to secure land trends position at the forefront of leading edge AI based drug discovery and personalized cancer therapy development.

So 2023 is shaping into being a pivotal year for land turn where our insights are now entering into patients and has started their journey to being coming meaningful therapies in cancer and at the same time, increasing the functionality of our AI platform, our collective efforts and dedication have fostered a transformational shift for our company.

So 2023 is shaping it didnt being a pivotal year for land turn where our insights are now entering into patients and have started their journey to being coming meaningful therapies in cancer and at the same time, increasing the functionality of our AI platform, our collective efforts and dedication of fostering a transformational shift for our company.

Setting us on an exciting trajectory towards the future, where we're touching in improving the lives potentially of cancer patients with effective and hopefully more precise therapies.

One of our primary focus during the second half of this year will be to further advance the enrollment in our monarch it'll be also to advance the enrollment for our phase one trial of <unk> 84.

One of our primary focus during the second half of this year will be to further advancing enrollment in our monarch it'll be also to advance the enrollment for our phase one trial LP one of the four.

We've opened up where we've opened up the initial sites and we are actively screening patients. Today. We also expect our phase one trial for <unk> 84 to launch in the coming months most likely in Q4 2023. These trials marked significant milestones.

We've opened up where we've opened up the initial sites and we are actively screening patients. Today. We also expect our phase one trial for <unk> 284 to launch in the coming months most likely in Q4 2023. These trials marked significant milestones.

In the pursuit of the <unk>.

In the pursuit of it.

Mark a significant milestone in our pursuit of advancing AI powered drug discovery into the clinic. Additionally.

<unk> significant milestones in our pursuit of advancing AI powered drug discovery into the clinic.

Additionally, we plan on progressing <unk> four known as star double a one towards phase one two clinical trials in CNS and brain cancers under Starlight Therapeutics, and we think this underscores our commitment to addressing unmet needs in a focused manner and we think this is massive upside for our investors and our patients through star light.

Additionally, we plan on progressing <unk> hundred 84, known as star double a one towards phase one two clinical trials in CNS and brain cancers under Starlight Therapeutics, and we think this underscores our commitment to addressing unmet needs in a focused manner and we think this is massive upside for our investors and our patients through starwood.

So.

In our portfolio side, we believe that our AI platform will reach over 50 billion data points and will further progressed the key modules for immune checkpoint inhibitors and for ADC development.

Our portfolio side, we believe that our AI platform will reach over 50 billion data points and will further progressed the key modules for immune checkpoint inhibitors and for ADC development.

These milestones are set a new standard for data driven drug discovery, but also established new radar based collaborations with companies and with research partners. We also tend to actively explore licensing and partnership opportunities with biopharma companies to accelerate the path to patients for our therapies.

And to showcase how our AI driven approach can generate results for investors.

To showcase how our AI driven approach can generate results for investors.

And drive the future of our franchise, while we ambitiously drive forward. Our R&D efforts will continue to uphold disciplined fiscal management to create further value for our shareholders. As we have pointed out we are accelerating the pace at which we are developing and validating insights, but we're also at the same type of managing our cash and managing how we put.

<unk>. These assets, we're partnering with larger companies as we continue to advance our diverse portfolio will be presenting new data findings are very important several notable scientific conferences over the coming months, we have one coming up in August 10th of the society of Neuro oncology and the American Society of clinical oncology the CNS.

One coming up on August 10th at the Society of Neuro oncology and the American Society of clinical oncology CNS cancer Conference in San Francisco, where we will share findings related to <unk> hundred 84, its ability to inhibit adult and pediatric CNS tumor cell growth and especially in new data related to <unk>.

Answer conference in San Francisco, where we will share findings are related to <unk> hundred 80 fours ability to inhibit adult and pediatric CNS tumor cell growth and especially in new data related to <unk>.

<unk>.

We also will be at the International conference on drug conjugates for directed therapy in Darmstadt, Germany on August 24th where our Chief Scientific officer to short <unk> will be presenting new details about our innovative AI driven approach to identifying ADC targets with improved tumor selectivity and in fact, we will be showcasing kind of.

Whole tumor selectivity and antibody drug modules. There will also be presenting at the society of hematologic oncology annual meeting.

Our whole tumor selectivity and antibody drug modules. There will also be presenting at the society of hematologic oncology annual meeting.

And Houston, Texas on September six.

We will be sharing new research related to <unk> 84, and its ability to target genetic deficiencies and non hodgkins lymphoma. So.

So we have a lot of exciting scientific and clinical data that will be presented over the coming months.

Which will set the groundwork for even more improved opportunities for landrum farmland.

Which will set the groundwork for even more improved opportunities for lantern pharma that we're closing on.

In closing I want to.

We want to really express my gratitude to our team our partners our collaborators and also our investors and stakeholders for their unwavering support and dedication to helping us transform the oncology development process I think together, we're lighting the way towards a brighter future in oncology drug development and solving real world problems.

We want to really express my gratitude to our team our partners our collaborators and also our investors and stakeholders for their unwavering support and dedication to helping us transform the oncology development process I think together, we're leading the way towards a brighter future in oncology drug development and solving real world problems.

Unique proprietary AI solutions that allow us to develop these precision oncology therapies had significantly reduce costs and timelines that have been unheard of and we think this places lanter at the forefront of a new era as I set a golden age of medicine in due to AI.

Unique proprietary AI solutions that allow us to develop these precision oncology therapies at significantly reduced costs and timelines that have been unheard of we think Theres places lanter at the forefront of a new era as I said, a golden age of medicine and due to AI.

With that now I'd like to open up the call to any questions or clarifications, but also I'd like to take a moment to personally. Thank our colleague Dr. Drew <unk>, who has been focused on our communication efforts both through the press and scientific community for helping in our last five earnings calls I know the team will Miss his involvement in it.

As upbeat dedication to landfill, but we wish him well in his new scientific endeavors. So again, let's take questions from our audience.

But we wish him well in his new scientific endeavors. So again, let's take questions from our audience.

Thank you Panna.

I'd like to ask a question you can do so in one of two ways you can either take your question anything Q&A tool, where you can click on the raise hand tool to speak directly to management and I will any airline.

I can ask a question you can do so in one of two ways you can either take your question anything in Q&A tool or you can click on the raise hand tool to speak directly to management and I will any airline.

Now it has a couple of questions coming in Kansas first one is <unk>.

Now it has a couple of questions coming in kind of first time as has the first stage of the harmonic trials enrolled yet and we'll land in a report on the first stage of the trial before completion of the full study.

The first stage of the harmonic trial that enrolled yet and we'll land in a report on the first stage of the trial before completion of the full study.

Great question, I think that's from John but yes.

Great question, and I think that's from John but yes, we're in the middle of the first stage of the trial, we will report out.

We're in the middle of the first stage of the trial, we will report out.

Results as they get reviewed and.

But we would expect to report out the image.

But we would expect to report out the engage.

Yes.

Thank you.

Another one here from an analyst how long of a genomic and transcriptome data collected in the harmonic trial help guide the second stage potentially Registrational chap Registrational trial.

Another one here from an analyst how long of a genomic and transcriptome data collected in the harmonic trial help guide the second stage and potentially a registrational chap Registrational trial.

Yes, I think.

Yeah for that question I think from John also.

We can pivot into a registrational trial from those trial designs. So we expect to get both mutational in transcriptome data from liquid biopsies that we're taking and we'll be able to see I think we'll see some differences in response based on the prior <unk> the prior <unk>.

We can pivot into a registrational trial from those trial designs. So we expect to get both the mutational in transcriptome data from liquid biopsies that we're taking and we'll be able to see I think we'll see some differences in response based on the prior TPI or the prior therapy.

<unk> therapy of these patients and so we can probably tune in to some specifics.

Based on the based on the.

Based on that based on the.

On the data that we get from the liquid biopsy data and that could actually paved the way for a number of really unique things that we already have seen in silica we've seen that PD lone high does not respond well potentially to these types of therapies. So we could actually go after something that's maybe even PD lone low we could.

Go after signatures that showcase certain types of signatures that correlate to a never smokers signature plus high response to.

Go after signature that showcase certain types of signatures that correlate to a never smokers signature plus high response to.

Resetting the redact cycle, plus response to chemotherapy reset so yeah. There's a couple of ideas, but again once we have the patient data from <unk>. We can design a signature that we can use potentially for registrational event and big pharma like signatures right. If they don't have to pay for signatures and they can get machine learning derive signatures that makes the asset always.

Resetting the <unk> cycle, plus response to chemotherapy reset so yes, theres a couple of ideas, but again once we have the patient data from <unk>. We can design a signature that we can use potentially for registrational event and big pharma like signatures right. If they don't have to pay for signatures and they can get machine learning derive signatures that makes the asset.

More attractive.

As more attractive.

Thank you.

Tony has a question is that right.

Yes, Tony ICR Henry <unk>.

Yes, Toni <unk>.

You should now be able to speak.

Yes can you hear me, yes, yes, thanks very much.

Can you guys can you hear me.

Yes, thanks very much Pat.

Thanks. Thanks.

A bunch for the opportunity.

Couple of questions.

One is related to the harmonic and you alluded to it just a minute ago, but first let me ask.

One is related to the harmonic.

You alluded to it just a minute ago, but first let me ask.

In the previous due to the previous phase III trial.

In the previous data the previous phase III trial.

<unk>.

At least.

I'm not going to put a percentage on it but certainly a good bit of the data.

Responding to roughly 300 was really driven by females and so the question is what's novel.

Responding to LP 300 was really driven by females.

So the question is what's novel.

And clearly less driven substantially less driven by males.

What do you think biologically is going on between genders.

What do you think biologically is going on between genders and.

In this study that's question one.

The study that's question one.

Question two is.

This is really related to.

Checkpoints, but in particular Pembroke.

And.

Do you have any preclinical data that actually tells you regardless of PD lone.

<unk> high or low.

A combination actually could work better.

In.

These particular types of patients. So that's really related to harmonic I'll come back and ask my second question.

And then because it's very very different than the first thanks. Thanks, Tim So in regards to.

The ratio.

The.

The trial really represents the ratio of female to male and the real world. It's about two thirds to one third of the never smoker population that comes down with non small cell lung cancer carcinoma is two thirds of them roughly 66% to 6% are female so theres no magic or.

The trial really represents the ratio of female to male in the real world. It's about two thirds to one third of the never smoker population that comes down with non small cell lung cancer carcinoma is two thirds of them roughly 66% to 6% are female so theres no magic or.

Reason why females, while Theres over index, it's just that's the actual disease.

Reason why females, while this over indexed its just thats the actual disease.

Epidemiology.

And thats pretty consistent across racism cognex it tends to skew more females get more females get some of these TGI driver mutations in some cases, we're more females.

And thats pretty consistent across racism cognex it tends to skew more females get more females get some of these TGI driver mutations in some cases or more females.

Supposedly some research has shown that females also.

Can have.

You can have.

Lung cancer arise as a result of.

The capitalism of estrogen that collection of lining of the lungs and Thats cancerous so.

Capitalism of estrogen that collects and aligning of the ones that's cancerous so.

Obviously.

That's also something that's been observed.

That's also something Thats been observed.

But now I expect our trials to be the same it will be more females males.

But I expect our trial will be the same it'll be more females males.

<unk>.

Right now it's not.

We don't have enough patients to show, but I do expect that to be if I look at the screening data I'd also has more females than males.

I don't know the biology of that I don't know if thats something that we need to.

And under the biology of that I don't know if thats something that we need to.

Worry about but if you look at the.

Worry about but if you look at the <unk>.

The response the response both males and females was was there. It was similar it was slightly better in some females.

The response the response both males and females was was there it was similar with slightly better in some females, but even if you take out male or female you saw nearly 90%.

Even if you take out male or female you saw nearly <unk> 90 to <unk>.

91% increase in overall survival in the never smoker population.

91% increase in overall survival in the never smoker population and doubling and the progression free survival, regardless of the regardless of the agenda.

And doubling and the progression free survival, regardless of the regardless of the agenda.

Yes.

The <unk> combo.

Thoughts.

<unk>.

Sure.

As it relates to regardless of whether or not its PD. One high is there any preclinical data.

As it relates to regardless of whether or not it's PD lone high is there any preclinical data.

You are aware of that could support that actually may be a good.

You are aware of that could support that actually may be a good a good place to have a cohort of patients in the PD lone low.

Good place to have a cohort of patients in the PD lone low.

Yes, it doesn't matter.

Yes, it doesn't matter what I'm, suggesting is.

I'm, suggesting is.

What the data are telling you what would be that may be different but the combination may actually it could be irrelevant to whether it's PD lone low or high but that's what I'm alluding to do you have any information that says that's the case, we do not have information. We just know that never smokers tend to have PD lone low normal.

What the data are telling you what would be that may be different but the combination may actually it could be irrelevant to whether it's PD lone low or high.

What I'm alluding to do you have any information that says that's the case, we do not have information. We just know that never smokers tend to have PD lone low in almost all instances.

All instances.

So PD lone high tends to be really index for people, who have whats called heavy tumor mutation burden, which is what drives the PD lone expression.

So people with high tumor mutation burden.

Tend to be smokers 90, plus percent of them.

So we know that when tumor mutation burden is high.

It's less likely to respond to 300 and.

To chemo doublets.

Chemo doublets.

And so we know that this population have never smokers tends to have in general PD Lone low that's been seen in a lot of studies, where they've looked at never smokers are they looked at characteristics of PDL one loan.

Or low tumor mutation burden I can send you some of those studies.

Studies that were done the most interesting one was like a meta study done out of Taiwan that was just published I believe last year I circulated that internally.

Studies that we've done the most interesting one was like a meta study done out of Taiwan that was just published I believe last year I circulated that internally.

And it looked at six different cohorts and looked at both proteomics and genomic analysis of PD Lone high LOE TMP high low smoking status et cetera, and I can send that to you but.

And it looked at six different cohorts and looked at both proteomics and genomic analysis of PDL, one high LOE TMP high low smoking status et cetera, and I can send that to you but.

We don't we don't have.

It's a conjecture, we think PD lone low is probably going to be shared with most of these never smokers.

It's a conjecture, we think PD lone low was probably going to be shared with most of these never smokers.

We also know anecdotally that PDL one.

Low keeps these patients oftentimes from getting.

Low keeps these patients oftentimes from getting <unk>.

<unk> plus chemo and the first line setting.

And sometimes they are just getting chemo and sometimes if they do hardware teekay I believe the right to a T Palin.

And sometimes you'll just get chemo and sometimes they do hardware PKI, but the right to a T Palin.

And so theres no theres no thoughts around perhaps using a cohort of patients to actually test the combination.

So theres no theres no thoughts around perhaps using a cohort of patients to actually test the combination.

Which combination.

Pembroke plus 300.

We do not have an arm currently designed for <unk> plus 300, I think right now our thinking is the best potential design that we have been thinking about this.

We do not have an arm currently designed for Pembroke plus 300, I think right now our thinking is the best potential design that we have been thinking about is.

A TGI plus 300.

And at Ti plus 300.

We think it could enhance the T <unk>.

Long term impact because we're <unk> some of those tech guys. It could be an added bonus for a TGI look in Egfr Elk best TGI, where we have X ray crystallography data.

Long term impact because we're <unk> some of those <unk> could be an added bonus for a TGI like an egfr algae based <unk>, where we have X ray crystallography data.

To showcase that R&D nature of the receptors and so that can give an added boost potentially we've seen some synergistic effect and preclinical studies of <unk> plus 300.

To showcase that R&D nature, the receptors and so that can give an added boost potentially we've seen some synergistic effect and preclinical studies of <unk> plus 300.

But again a lot of these people will stop responding to <unk>. So our feedback from Kols and clinicians was that there were not that excited to put them on the <unk> plus $300, but we'd rather see chemo plus 300 because of the standard of care as they go to a chemo doublet after failing to respond to <unk>.

But again a lot of these people will stop responding to <unk>. So our feedback from Kols and clinicians was that there were not that excited to put them on the TGI plus $300, but we'd rather see chemo plus 300, because that standard of care as they go to a chemo doublet after failing to respond to <unk>.

Thank you appreciate the second question really is around the larger picture here.

Thank you I appreciate the second question really is around the larger picture here.

From discovery.

From a discovery.

And the radar platform not so much the radar platform, but just just higher level.

If you look across the landscape at other companies.

You look across the landscape at other companies.

<unk>.

Yeah.

Perhaps.

Hey.

AI is a premise to their discovery engine b calico or say.

As a premise to their discovery engine, b calico or say an.

<unk> or even <unk>.

Just randomly naming three.

I'm, just not aware that they've been able to move any program.

Forward.

Ford.

And I don't think its not for the computing power may be for lack of biology or or Directionally, where they may wish to go but do you have any view about that.

And I don't think it is not for the computing power may be for lack of biology, or directionally, where they may wish to go but do you have any view about that.

Yeah from Easter Sunday loved there are examples like you said a lot of companies that are more I would say.

Yeah from a loved there are examples like you said.

Companies that are more I would say.

AI.

Only or AI first and they havent seen the same movement. So it's.

One layer AI first and they havent seen the same movement. So it's.

It's not easy right, even if you have an AI answering start to manufacture the molecule.

It's not easy right, even if you have an answer as to how to manufacture the molecule.

Under GMP.

Still have to have some really exquisite of preclinical studies to really isolate that mechanism or insight that you have garnered on the computer yet to get Kols excited yet to write the IMD and do the animal studies, so theres a lot of work.

Still have to have some really exquisite preclinical studies to really isolate that mechanism or insight that you've garnered on the computer we have to get kols excited yet to write the IMD and do the animal studies, so theres a lot of work.

It's not.

If not.

It's not a fact that.

We did this with 284, which is a molecule that didn't even exist when we went public.

We did this with $2 84, which is a molecule that didn't even exist when we went public.

Three years ago to now we're about to launch into a trial I mean thats like a.

Three years ago to now we're about to launch into a trial I mean thats what.

And again, the total cost of less than $2 $5 million. So it's it's a challenge I think there are companies that are in trials building. So not just <unk>, but there are companies like <unk> that are in trials.

And again with a total cost of less than $2 $5 million. So it's it's a challenge I think there are companies that are in trials building. So not just land turn but there are companies like <unk> that are in trials.

Companies like <unk> that are in trials, they are larger companies significantly than ours by a factor of <unk> 'twenty.

Companies like <unk> that are in trials. They are larger companies significantly that ours by a factor of <unk> 'twenty.

Burning.

Burning 50.

$60 million to $70 million.

But the benefit of AI as a way to reduce the time and cost, but there is still unique biology in manufacturing knowledge and CMC to then really advance it into humans and so we've kind of really built land term to being a really fit for purpose in oncology and that's why we have a focused team.

Why we have a focused team.

Work with a lot of Kols and outside experts so.

We work with a lot of Kols and outside experts so.

Everyone at Atlanta, and believes in a multi disciplinary approach so whether it be our CSO or even our data scientists.

We're not just data people. They also understand cancer and even the cancer biologists really tried to understand the data science and so I'd say.

We're not just data people. They also understand cancer and even the cancer biologists really try to understand the data science and so I would say.

We're kind of fit for purpose specifically in oncology a lot of the larger companies are going after lots of disease States.

That kind of.

That kind of <unk>.

Focus or lack of focus can keep them from advancing into human trials as quickly as we have.

And I appreciate that.

I appreciate that.

Very thoughtful response.

Thank you Tony and Thats all the time, we have for questions. Today. Thank you so much for tuning in and we hope you have a great rest of your day.

Yeah.

Goodbye.

Q2 2023 Lantern Pharma Inc Earnings Call

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