Q3 2023 Lantern Pharma Inc Earnings Call
Speaker 1: 23 earnings call. As a reminder, this call is being recorded and all attendees are in a listen-only mode. We will open the call for questions and answers after our management presentation.
As a reminder, this call is being recorded and all attendees are in a listen only mode. We will open the call for questions and answers after our managements presentation. A webcast replay of today's conference call will be available on our website at lantern pharma dotcom. Shortly after the call we issued a press release after market.
Speaker 1: A webcast replay of today's conference call will be available on our website at lanternpharma.com shortly after the call.
Speaker 1: We issued a press release after Market Close today summarizing our financial results and progress across the company for the third quarter ended September 30th, 2023. A copy of this release is available through our website at lanternpharma.com where you will also find a link to the slides management will be referencing on today's call.
Close today summarizing our financial results and progress across the company for the third quarter ended September 32023, 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 management will be referencing on today's call. We would like to remind everyone that remarks about few.
Speaker 1: We 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.
Would your expectations performance estimates and prospects constitute forward looking statements for purposes of Safe Harbor provisions under the private Securities Litigation Reform Act of $19 95 Lantern pharma cautions that these forward looking statements are subject to risks and uncertainties that may cause actual result.
Speaker 1: Lantern Pharma cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those anticipated.
<unk> 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.
Speaker 1: 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.
Speaker 1: 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.
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.
Speaker 1: Forward-looking statements made on this conference call are, as of today, November 8, 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.
As of today November eight 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.
Speaker 1: The webcast replay of the conference call and webinar will be available on Lantern's website.
The webcast replay of the conference call and webinar will be available on land turns website.
Speaker 1: On today's webcast, we have Lantern Pharma CEO , Pana Sharma, and CFO , David Margrave. Pana will start things off with an overview of Lantern's strategy and business model and highlight recent achievements in our operation.
On today's webcast, we have lantern pharma CEO, Panna Sharma, and CFO, David Margrave Panna will start things off with an overview of lantern strategy and business model and highlight recent achievements in our operations after which David will discuss our financial results. This.
Speaker 1: After which, David will discuss our financial results.
Speaker 1: This will be followed by some concluding comments from Pana, and then we'll open the call for Q&A. I'd now like to turn the call over to Pana Sharma, President and CEO of Lantern Pharma. Pana, please go ahead.
I'll be followed by some concluding comments from partner and then we will open the call for Q and a I'd now like to turn the call over to punish Sharma, President and CEO of Lantern pharma partner. Please go ahead.
Speaker 2: Thank you. Hello everyone and thank you for joining us this afternoon to hear about our third quarter results and corporate progress.
Thank you Hello, everyone and thank you for joining us this afternoon to hear about our third quarter results and corporate progress.
Speaker 2: We made significant strides over this past quarter and executing our mission of transforming the oncology drug discovery and development process. Especially now that we have all of our clinical stage drug candidates and human clinical trials that are active, two that are in phase one now and one that is in phase two.
We made significant strides over this past quarter and executing our mission of transforming the oncology drug discovery and development process, especially now that we have all of our clinical stage drug candidates in human clinical trials that are active two that are in phase one now and one that is in phase two.
Speaker 2: We also continue to make significant progress in the launch of our CNS and brain cancer focused subsidiary, Starlight Therapeutics, and in developing the next major leg of our discovery and development efforts, which will be focused on drug conjugates, including antibody drug conjugate.
We also continue to make significant progress in the launch of our CNS and brain cancer focused subsidiary Starwood therapeutics and in developing the next major leg of our discovery and development efforts, which will be focused on drug conjugates, including antibody drug conjugates.
Speaker 2: Our team and many clinicians are particularly excited about the interesting first in human drug candidates LP184 and LP284. Both of these candidates share a mechanism called synthetic lethality. During Q2, I was able to share the news that we launched LP184 into a phase one clinical trial for recurrent advanced solid tumors, especially those that are refractory to current standard of care therapies. This area is an area of the study
Our team and many clinicians are particularly excited about the interesting first in human drug candidates <unk> four to help you to 84.
Both of these candidates share mechanism called synthetically salaries during.
During Q2, I was able to share the news that we launched <unk> hundred 84 into a phase one clinical trial for recurrent advanced solid tumors, especially those that are refractory to current standard of care therapies.
This area is an area, especially critical need.
Speaker 2: During Q3, we launched the sister drug candidate, LP-284, into a clinical trial for recurrent non-Hodgkin's lymphomas and also sarcomas. We also dosed the initial patient for LP-184 this quarter.
During Q3, we launched the SR drug candidate <unk> hundred 84 into a clinical trial for recurrent non Hodgkin's lymphomas and also sarcoma.
We also dosed the initial patient for <unk> for this quarter.
Speaker 2: Additionally, we continue to enhance and develop our AI platform radar. Our AI platform is revolutionizing the way we model, predict and understand drug cancer interactions, enabling us to advance our newly developed drug programs from initial insights, the first in human clinical trials, and an average of less than two and a half years and it cost him under $2 million per program. It's a milestone unheard of in the realm of oncology drug discovery.
Additionally, we continue to enhance and develop our AI platform.
<unk>, our AI platform is revolutionizing the way, we model predict and understand drug cancer interactions, enabling us to advance our newly developed drug programs from initial insights the first in human clinical trials and an average of less than two and a half years and at a cost of $102 million per program.
A milestone unheard of in the realm of oncology drug discovery.
Speaker 2: Computational and AI-driven approaches are increasing their presence and usage at both large and emerging pharma companies for all facets of drug discovery and development.
Computational and AI driven approaches are increasing their presence in usage at both large and emerging pharma companies for all facets of drug discovery and development our leadership in the innovative use of AI and machine learning to transform costs and timelines and the development of precision oncology therapies should yield significant returns for investors in.
Speaker 2: Our leadership in the innovative use of AI and machine learning to transform costs and timelines in the development of precision oncology therapies should yield significant returns for investors and patients as our industry matures and adopts an AI-centric approach to drug development.
As our industry matures and adopt an AI centric approach to drug development.
Speaker 2: The Golden Age of AI Medicine is just beginning and it is being powered by large scale, highly available computing, massive data storage, and additionally it is being fed by healthcare and patient data and cancer data, which is more widely available at increasing levels of quality.
The Golden age of AI Medicine is just beginning and it is being powered by large scale highly available computing massive data storage and additionally, it is being said by health care and patient data and cancer data, which is more widely available and at increasing levels of quality.
Speaker 2: Companies that can harness these capabilities in the biotech and tech bio industry and make them core to their business will be long-term leaders that create massive value for patients, for investors and for our industry.
Companies that can harness these capabilities in the biotech and tech bio industry and make them core to their business will be long term leaders that create massive value for patients.
For investors and for our industry.
Speaker 2: We believe Lantern Pharma is among the leaders in this transformation of the pace, risk, and cost of the development of cancer medicines. This transformation has a promise not only to make oncology medicines faster, cheaper, and with increased precision for patients and also for orphan and ultra orphan groups, but also to help change the direction of R&D productivity and output in the pharma industry.
We believe lantern pharma is among the leaders in this transformation of the Pes risks and costs of the development of cancer medicines.
This transformation has a promise not only to make oncology medicines faster cheaper and with increased precision for patients and also for orphan and ultra orphan groups, but also to help change the direction of R&D productivity and output in the pharma industry.
Speaker 2: In the past two years, we have successfully developed and launched 11 additional programs, a testament to the agility, efficiency, and groundbreaking nature of our program.
In the past two years, we have successfully developed and launched 11 additional programs a testament to the agility efficiency and groundbreaking nature of our approach.
Speaker 2: As compared to the many other companies that are leveraging AI, our productivity and efficiency in a per dollar basis is unparalleled.
As compared to many other companies that are leveraging AI, our productivity and efficiency on a per dollar basis is unparalleled.
Speaker 2: On average, these programs are advancing from initial AA insights to personal human clinical trials at an unheard of cost and time.
On average these programs are advancing from initial insights to first in human clinical trials.
And unheard of cost and timeline.
Speaker 2: In fact, in a recent study published in drug discovery today, it was reported that nearly half of the largest pharma companies had negative R&D productivity for the past 20 years.
In fact in a recent study published in drug discovery today. It was reported that nearly half of our largest pharma companies had negative R&D productivity for the past 20 years they.
Speaker 2: These startling figures serve as a stark reminder that the traditional model of big pharma R&D is just not sustainable, not effective, and is not the right approach to improve drug pricing or drug availability.
These startling figure serve as a Stark reminder, that the traditional model of Big pharma R&D is just not sustainable not effective and is not the right approach to improve drug pricing or drug availability with.
Speaker 2: With escalating economic and political pressures over drug pricing and the nature of drugs, it's clear that our industry needs to rethink its approach fundamentally. And we believe large pharma companies will increase the adoption of the AI and computational approaches to elevate above this.
With escalating economic and political pressures over drug pricing.
The nature of drugs, it's clear that our industry needs to rethink its approach fundamentally and we believe large pharma companies will increase the adoption of AI and computational approaches to elevate above this issue.
Speaker 2: These specific instances of value creation at Lantern, specifically CNS and Neurooncology, has allowed us to develop an entirely new company star like Therapeutics, and we'll be providing more data later this year, early next year. We believe that company will be setting a new standard in cancer drug development, and a category that hasn't seen a new drug candidate as monotherapy in almost 17 years.
These specific instances of value creation at lantern specifically.
Specifically in the CNS and neuro oncology has allowed us to develop an entirely new company store like therapeutics, and we'll be providing more data later this year early next year, we believe that company will be setting a new standard in cancer drug development and a category that hasnt seen a new drug candidate as monotherapy in almost 17 years.
Speaker 2: As we continue to accelerate the pace at which we're developing and validating insights, insights that can lead to meaningful drug assets, we are then positioning these drug assets after clinical trials to partner them out with larger biopharmaceuticals.
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As we continue to accelerate the pace at which we are developing and validating insights insights that can lead to meaningful drug assets. We are then positioning these drug assets after clinical trials to partner them out with larger biopharma companies as.
Speaker 2: As the same time as David will cover shortly, we have a strong ongoing cash position approximate 45 million in cash and cash equivalents that is being carefully utilized to make meaningful progress on both our platform and our drug candidates into human clinical trials.
At the same time as David will cover shortly we have a strong ongoing cash position of approximately $45 million in cash and cash equivalents.
That is being carefully utilized to make meaningful progress on both our platform and our drug candidates in human clinical trials. We believe our approach is the future of developing cancer therapies, where data can be used to accelerate programs derisk, the identification and progress of life, changing medicines and provide insights into which.
Speaker 2: We believe our approach is the future of developing cancer therapies where data can be used to accelerate programs, de-risk the identification and progress of life-changing medicines, and provide insights into which patients are most suitable for trial. Now turning to some specific highlights.
Patients are most suitable for trial.
Now turning to some specific highlights during the third quarter.
Speaker 2: We received FDA clearance of our IND application for LP-284, a first in human clinical trial for refractory non-hatch-consumable infomas and sarcoma.
We received FDA clearance of our IND application for <unk> for <unk>.
First in human clinical trial for refractory non Hodgkin's lymphomas and Sarcomas. We also dosed the first patient in our <unk> four trial.
Speaker 2: We also dosed the first patient in our LP184 trial, which is for multiple advantages.
As for multiple advanced solid tumors.
Speaker 2: And we also expanded the number of sites in the US for LP 300 non-small so one cancer trial for never smokers. We've also started the process of expansion into East Asian countries where the demographic for this patient population is twice that of the US.
And we also expanded the number of sites in the U S. For LP 300, non small cell lung cancer trial for never smokers. We have also started the process of expansion into East Asian countries, where the demographics. In this patient population is twice that of the U S.
Speaker 2: but 30 to 35% of non-small-so-one cancer patients are never smoked.
30% to 35% of non small cell lung cancer patients are never smokers.
Speaker 2: We also developed an initial proof of concept and preclinical evidence for our novel cryptophycin-based antibody drug conjugate.
We also developed an initial proof of concept preclinical evidence for a novel Crypto <unk> based antibody drug conjugate.
Speaker 2: And we plan to share broader data from the initial exciting efficacy and scientific benchmarks achieved with that drug candidate in January of 2024.
And we plan to share broader data from the initial exciting efficacy and scientific benchmarks achieved with that drug candidate in January of 2024.
Speaker 2: We continue to advance radar, our AI platform across several dimensions.
We continue to advance radar, our AI platform across several dimensions.
Speaker 2: automation, data sets, an increasing number of modules specifically designed for oncology drug development. And very importantly, we had continued ongoing fiscal discipline as clearly evidenced by our burn rate and our balance of approximately $45 million in cash, cash equivalents and marketable securities at the end of the third quarter.
Automation datasets and increasing number of modules specifically designed for oncology drug development.
And very importantly, we had continued ongoing fiscal discipline as clearly evidenced by our burn rate.
And our balance of approximately $45 million in cash cash equivalents and marketable securities at the end of the third quarter.
Speaker 2: We believe this provides us with sufficient cash runway well into Q3 of 2025 or beyond, as David will talk about in our call in a few minutes.
We believe this provides us with sufficient cash runway well into Q3 of 2025 or beyond as David will talk about.
Our call in a few minutes.
Speaker 2: So at this point with the highlights behind us, I'll come back and talk in more details, but I'll turn the call over now to our CFO , David Margrave, who'll provide an overview for the second quarter financial results. David? Thank you, Pana, and good afternoon, everyone. I will now share some financial highlights from our third quarter ended September 30, 2023.
So at this point with the highlights behind us.
I'll come back and talk in more details, but I will turn the call over now to our CFO, David Margaret who will provide an overview for the second quarter financial results David.
Thank you Panna and good afternoon, everyone.
I will now share some financial highlights from our third quarter ended September 32023.
Speaker 2: Our general and administrative expenses were approximately $1.3 million for the third quarter of 2023, down slightly from approximately $1.4 million in the prior year period.
Our general and administrative expenses were approximately $1 3 million for the third quarter of 2023.
Down slightly from approximately $1 4 million in the prior year period.
Speaker 2: R&D expenses were approximately $2.2 million for the third quarter of 2023, up from approximately $0.7 million in the third quarter of 2022.
R&D expenses were approximately $2 2 million for the third quarter of 2023.
Up from approximately zero point $7 million in the third quarter of 2022.
Speaker 2: A substantial portion of the R&D increase in 2023 relative to 2022 is related to a $935,000 payment received from a service provider in July 2022 to resolve a difference of views in the service provider agreement, which reduced our research and development expenses during the third quarter of 2022.
A substantial portion of the R&D increase in 2023 relative to 2022 is related to a $935000 payment received from a service provider in July 2022 to resolve a difference of views in the service provider agreement.
<unk> reduced our research and development expenses during the third quarter of 2022 the.
Speaker 2: The increase in Q3 2023 was also attributable to increases in product candidate manufacturing expenses, increases in research studies, and increases in payroll and compensation expense.
The increase in Q3 2023 was also attributable to increases in product candidate manufacturing expenses.
Increases in research studies and increases in payroll and compensation expenses.
Speaker 2: We recorded a net loss of approximately $3.2 million for the third quarter of 2023 or 29 cents per share compared to a net loss of approximately $2.3 million or 21 cents per share for the third quarter of 2022.
We recorded a net loss of approximately $3 2 million for the third quarter of 2023.
<unk> 29 per share.
Compared to a net loss of approximately $2 3 million or 21 per share for the third quarter of 2022.
Speaker 2: our loss from operations in the third quarter of 2023 was partially offset by interest income and other income net totaling approximately $362,000.
Our loss from operations in the third quarter of 2023 was partially offset by interest income and other income net <unk>.
Totaling approximately $362000.
Speaker 2: our interest income and other income that increased by an aggregate of approximately 482,000 for the third quarter of 2023, compared to the third quarter of 2022.
Our interest income and other income net decreased by an aggregate of approximately 482000 for the third quarter of 2023 compared to the third quarter of 2022.
Speaker 2: This increase was attributable to an increase in interest of approximately $194,000, increases in dividend income of approximately $152,000, and an increase in unrealized gains on investments of approximately $102,000.
This increase was attributable to an increase in interest of approximately 194000 increases in dividend income of approximately 152000 and an.
Kris and unrealized gains on investments of approximately 102000.
Speaker 2: As of September 30, 2023, we had approximately 10.87 million shares of common stock outstanding.
As of September 32023, we had approximately 10 eight 7 million shares of common stock outstanding.
Speaker 2: outstanding warrants to purchase approximately 177,998 shares, and outstanding options to purchase approximately 1.1 million shares.
Outstanding warrants to purchase approximately 177998 shares and outstanding options to purchase approximately one 1 million shares.
Speaker 2: 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 as of September 30, 2023.
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 as of September 32023.
Speaker 2: Our cash position, which includes cash equivalents and marketable securities, was approximately $44.9 million as of September 30, 2023.
Our cash position.
Which includes cash equivalents and marketable securities was approximately $44 $9 million as of September 32023.
Speaker 2: We anticipate this balance will provide us with a cash one way into at least Q3 of 2025.
We anticipate this balance will provide us with a cash runway into at least Q3 of 2025.
Speaker 2: 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 allow us to introduce additional targeted programs and collaboration opportunities in a capital-efficient manner.
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 allow us to introduce additional targeted programs and collaboration opportunities in a capital efficient.
Speaker 3: Our team continues to be very productive under a hybrid operating model. This hybrid model also removes geographic restrictions to our hybrid initiatives, which has given us the ability to recruit extremely high caliber team members that otherwise might not be available.
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 be available.
Speaker 3: We currently have 21 employees focused primarily on leading and advancing our research and drug development efforts.
We currently have 21 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 experienced and talented individuals.
Speaker 3: We see this number expanding slightly in coming quarters as we add additional experience and talented individuals to help advance our mission.
To help advance our mission.
Speaker 3: I'll now turn the call back over to Pana for an update on some of our development programs. Pana.
I'll now turn the call back over to Palmer for an update on some of our development programs.
Thank you David.
Speaker 2: This past quarter, we launched another first in human phase one program with LP-284, a novel synthetic liethal small molecule in refractory non-hodgkin's lymphomas and sarcomas where there is a significant patient need for improved therapy.
This past quarter, we launched another first in human Phase one program with <unk> hundred 84, a novel synthetic lethal small molecule and refractory non Hodgkin's lymphomas, and Sarcomas, where there is a significant patient need for improved therapies.
Speaker 2: As I mentioned on our second quarter call, we had planned to launch this trial here in Q4. And we're on track to do that.
As I mentioned on our second quarter call, we had planned to launch this.
Trial here in Q4 and are on track to do that.
Speaker 2: So we've launched both 184 and 284, one quarter after another, which is what we had talked about earlier this year.
So we've launched both 184 and $2 84.
One quarter after another which is what we had talked about earlier this year.
Speaker 2: Now Q84 can work effectively both as monotherapy or in combination with other standard of care agents.
Now <unk> four can work effectively with both as monotherapy or in combination with other standard of care agents, but finding these are critically needed and important in cancer and can oftentimes take month.
Speaker 2: But finding these are as critically needed and important in cancer and can oftentimes take months or years of lab work. But computational approaches are increasing their ability to predict meaningful and clinically relevant combination regimens for cancer. And our team continues to increase the value of our platform in this regard.
Months three years of lab work, but computational approaches are increasing their ability to predict meaningful and clinically relevant combination regiments for cancer.
And our team continues to increase the value of our platform in this regard.
Speaker 2: and it helps to sharpen the focus of our existing clinical drug candidates to very specific populations.
And it helps us sharpen the focus of our existing clinical drug candidates to very specific populations with 284, we're able to understand that advanced non hodgkin's lymphoma cancer subtypes with DNA damage response deficiency, notably those with compromised function of the ATM gene the ataxia.
Speaker 2: With 284, we're able to understand that advanced non-Hodgkin's lymphoma cancer subtypes with DNA damage response deficiency, notably those with compromised functioning of the ATM gene, the ataxia gene, the APM gene.
Jim the ATM gene.
Speaker 2: can cause a tremendous amount of sensitivity to our drug agent. In the U.S., Europe , mantle cell, double-hit, and other high-grade B-cell lymphomas are diagnosed in about 16 to 20,000 patients each year and have an estimated annual market potential of $3 to $4 billion.
Can cause.
A tremendous amount of sensitivity to our drug agent in the U S. Europe mantle cell double hit another high grade B cell lymphomas are diagnosed and about 16% to 20000 patients each year and have an estimated annual market potential of $3 billion to $4 billion.
Speaker 2: We also saw with this drug candidate that in PDX models of high-grade B-cell lymphomas, LP284 showed synergistic and significantly enhanced anti-cancer activity when used in combination with rituximab.
We also saw with this drug candidate that in Pdx models of high grade B cell lymphomas, LTE 284 showed synergistic and significantly enhanced anti cancer activity when used in combination with rituximab.
Speaker 2: In vivo PDX models, the synergy of rituximab with our drug LP-284 was 63% more effective in destroying high-grade bucilin-phomos than rituximab.
In vivo Pdx models, the synergy of Rituximab with our drug <unk> hundred 84 was 63% more effective in destroying high grade B cell lymphomas.
Then rituximab alone.
Speaker 2: When we put 284 on the Tuxamab, we had 93% tumor growth in efficient. Resurred Tuxamab alone only had 57%.
When we put 284 in the <unk>, we had 93% tumor growth inhibition.
<unk> alone and we had 57%.
Speaker 2: So as many of you probably know, Rituximab is a standard of care approved therapy and a wide range of B-cell cancers and non-Hodgkin's lymphomas. We plan on releasing additional details on this data and on the set of results in the coming months.
So as many of you probably know rituximab as a standard of care approved therapy in a wide range of B cell cancers, and non Hodgkin's lymphomas, we plan on releasing additional details on this data and on the set of results in the coming months.
Speaker 2: Nearly all mantle cell DHL and high-grade B cell lymphoma patients relapse from the current standard of care agent, and we believe there's an urgent and unmet need to introduce this drug, either as monotherapy or in combination.
Nearly all mantle cell DHL and hybrid.
Some of the patients relapse in the current standard of care agent and we believe there is an urgent unmet need to introduce this drug either as monotherapy or in combination.
Speaker 2: in the relapse and refractory setting for this patient.
In the relapsed and refractory setting for this patient group.
Speaker 2: Moving on to 184, we discussed that we dosed the first patient in the phase 1A clinical trial. It was the first in human phase 1 basket trial across multiple solid tumor indications. We think this, the market potential for this drug is quite significant. Since 20 to 25% of solid tumors.
Moving on to 184, we discussed.
We dosed the first patient.
In the phase <unk> clinical trial is the first in human phase I basket trial across multiple solid tumor indications.
We think this the market potential for this drug is quite significant since 20% to 25% of solid tumors.
Speaker 2: have DNA damage repair deficiency, and the majority then become refractory to existing standard of care therapy.
Have DNA damage repair deficiency.
The majority of them become refractory to existing standard of care therapies.
Speaker 2: This trial is anticipated to enroll patients that have relapsed refractory advanced solid tumors such as pancreatic, GBM, triple negative breast cancer, lung, multiple other solid tumors including GBM and brain cancer.
This trial is anticipated to enroll patients that have relapsed refractory advanced solid tumors, such as pancreatic GBM triple negative breast cancer lung multiple other solid tumors, including GBM and brain cancers.
Speaker 2: The lantern expects to continue phase one enrollment throughout the remainder of this year with additional slides and patients and potentially finish the first few cold-horse patients.
<unk> expects to continue phase one enrollment throughout the remainder of this year was additional sites and patients and potentially finished the first two cohorts of patients.
Speaker 2: and also have a number of major centers like Fox Chase and Johns Hopkins Medicine and USC also joined the trial.
<unk> also have a number of major centers like Fox Chase and Johns Hopkins Medicine, and USC also joined the trial.
Speaker 2: The dosage and safety data obtained in this trial will be used to advance the central nervous system trials, central nervous system cancer trials for a future phase two to be sponsored by Lantern's wholly-owned subsidiary, Starlight Therapeutics. Globally, the aggregate annual market potential of LP184 target indications so far is in excess of $11 billion, consisting of about four and a half to five and a half plus for CNS cancers and well over $6 billion for solid.
The dosage and safety data obtained in this trial will be used to advance the central nervous system trials central nervous system cancer trials for future phase III to be sponsored by <unk> wholly owned subsidiary Sterlite Therapeutics globally aggregate annual market potential of <unk> 84 target indications. So far is in excess of $11 billion.
Consistent with that.
Four five to five five plus with CNS cancers, and well over $6 billion for solid tumors.
Speaker 2: So you can see why we're very excited about this drug as a potential blockbuster across multiple tumors.
So you can see why we're very excited about this drug as a potential blockbuster across multiple tumors.
Speaker 2: As we mentioned, our drug LP 300 in a previous multi-center phase three clinical trial, a subset of never smokers and non-small-so-lunk cancer patients who received that drug with chemotherapy showed an increase overall survival of 91% and increase in two-year survival of 125%. Respect.
As we mentioned our drug Lp's 300, and a previous multicenter phase III clinical trial, a subset of never smokers in non small cell lung cancer patients who received that drug with chemotherapy showed an increase overall survival of 91% and an increase in two year survival of 125% respect.
Speaker 2: This is compared to patients who only received the chemo double alone. Now we're doing that currently in a 90 patient phase two trial, and we continue to expand into multiple.
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This is compared to patients who only received a chemo doublet alone.
Now we're doing that currently and the 90 patient phase two.
Trial, and we continue to expand into multiple sites.
Speaker 2: Dr. Joseph Treat, who has been appointed the lead principal investigator of the harmonic study, Dr. Treat is a leading expert in lung malignancies, including non-small cell lung cancer.
Dr. Joseph <unk>, who has been appointed to lead principal investigator of our monarch study Dr treat as a leading expert in <unk> malignancies.
Including non small cell lung cancer and never smokers and.
Speaker 2: Additionally, he has specific experience in many Asian collaborators where this population is at a significantly higher percentage.
Additionally, he has specific experience many Asian collaborators, where this is significant with this population is at a significantly higher percentage.
Speaker 2: So we're advancing the trial, the harmonic trial, into Asia, specifically Taiwan, Japan and South Korea, where there's a higher incidence of never smokers in non-sumeral cell lung cancer, but double or higher than that of patients from the US. 32 to 35 plus...
So we are advancing the trial for harmonic trial into Asia, specifically, Taiwan, Japan, and South Korea.
Where theres, a higher incidence of never smokers, and non small cell lung cancer, but double or higher than that of patients in the U S. 32 to 35 plus percent and these are largely driven by pointed in subtle mutations in egfr or other kinases.
Speaker 2: And these are largely driven by pointed and subtle mutations in EGFR or other kinases.
Speaker 2: So as I mentioned earlier in our call, we'll be sharing our preliminary work in the ADC category. This work has been accomplished in the last six months at a very tremendous pace, but also at a very, very reasonable pace.
So as I mentioned earlier in our call, we will be sharing our preliminary work and the ADC category.
<unk> work has been accomplished in the last six months at a very a tremendous pace, but also.
At a very very reasonable cost largely driven by insights from our AI platform and through the collab good collaborations with our partners in Germany. We've.
Speaker 2: largely driven by insights from our AI platform and through the collaboration with the partners to German.
Speaker 2: We've had very good results with our initial ADC designs and believe the cryptophycin link conjugate has picomolar IC50 values across multiple cancers. We've zeroed in on five or six. Again, we'll be talking more about the detailed update of this program and how this program will expand. We'll plan on that update for all the investors and analysts in January of 2025.
We've had very good results with our initial ADC designs and believe the Cryptophyte. Some link conjugate has peak picomolar IC 50 values across multiple cancers with zeroed in on five or six again, we will be talking more about the detailed update.
So this program and how this program will expand the plan on that update for all the investors and analysts in January of 2024.
Speaker 2: This past quarter, we had two major presentations. Presentations like this are important because they help highlight why we're excited about molecules and how we're de-risking them and how we're thinking about development. It also generates interest among the pharma community. So for 284, we presented at SOHO 2023. We talked about the drug having tremendous efficacy in B cell cancers, which are normally non-Hodgkin's lymphomas that have what's called homologous repair deficiency.
This past quarter, we had two major presentations presentations like this are important because they help highlight why we're excited that the molecules and Howard derisking them and how we're thinking about development. It also generate interest among the pharma community. So for 284, we presented at <unk> 2023, we talked about the drug having tremendous.
Efficacy in B cell cancers, which are normally non hodgkin's lymphomas that have what's called homologous repair deficiency.
Speaker 2: This allows us then after the phase one to perhaps zero in on HRD.
This allows us then after the phase one.
Perhaps zero in on HR D.
Focus b cell cancers.
Speaker 2: For 184, we presented at a joint ASCO snow conference, showing how the molecule is activated in certain high expressing PTGR brain cancer.
For 184, we presented at a joint <unk> Snow conference.
Knowing how the molecule is activated and certain high expressing <unk> brain cancers, and both adult and pediatric and a completely inhibits for kills off the cancer cells.
Speaker 2: and both adult and pediatric and it completely inhibits or kills off the cancer.
Speaker 2: So again, we'll take that to not only pharma companies, but also to sites that have expressed an interest and we believe these kind of posters and presentations and data are important to help us better understand where we can point the drug to get the most effective way to mark.
So again, we'll take that to not only pharma companies, but also to <unk>.
Sites that have expressed an interest and we believe these kind of posters and presentations and data are important to help us better understand where we can point to drug to get the most effective way to market.
Speaker 2: Now, during this coming quarter, next week on November 17th, we'll continue driving awareness for our data and our platform. We'll be presenting at Society of Neuro-Oncology where our collaborator, Dr. John Matera, will be showing how our drug candidate works across GBMs, independent of MDMA.
And then this coming quarter next week in November 17th will continue driving awareness for our data in our platform, we will be presenting at society of neuro oncology with our where our collaborator Dr. John with Terra will be showing how our drug candidate works across GBS.
Cross GBM independent of MGMT status.
Speaker 2: Dr. John Nutera is a director at the Brain Cancer Program at Johns Hopkins.
Dr. John Natera is a director at the brain cancer program at Johns Hopkins now.
Speaker 2: Now, the MGMT status is very important since by 50 to 60 plus percent in GBM cases have little or no methylation of MGMT. This means that they either don't respond or they stop responding to the current standard of care at Tenzola-Mont.
Now the MGMT status is very important since by 50% to 60 plus percent of GBM cases have little or no methylation of MGMT. This means that they either don't respond or they stopped responding to the current standard of care <unk>.
Speaker 2: And that's not only in GBM, but also many other high-grade gliomas and brain cancers.
And that's not only in GBM, but also many other high grade glioma is brain cancers.
Speaker 2: On December 1st, we'll be presenting at the Bangalore Tech Summit in India on our AI platform and how we're building a future forward farmer labeled as farmof4.0. And then on December 5th in Boston and at the CNS Drug Delivery Summit, we'll be presenting on how we're leveraging our AI to accelerate the development of drug candidates for CNS and Brain T.
On December one we'll be presenting at the bank of Lulu Tech summit in India on our AI platform and how we're building a future forward pharma labeled as pharma four Dido and on December 5th in Boston and at the CNS drug delivery summit will be presenting on how we're leveraging our AI to accelerate the development of drug drug candidates for CNS in brain cancer.
Speaker 2: specifically how we believe we can save hundreds of thousands or millions of dollars and through our algorithms which can predict the blood-brain barrier permeability of any compound with 92 to 95 percent
<unk>, specifically, how we believe we can save hundreds of thousands or millions of dollars in through our algorithms, which can predict the blood brain barrier permeability of any compound with 92% to 95% accuracy.
Speaker 2: Moving on to radar, we continue to advance the platform in five scope and capabilities. And we believe it continues progressing towards becoming a potential standard for AI driven drug development in oncology for both early stage development and later stage patient biomarker stratification and combination therapy identification.
Moving on to radar, we continued to advance the platform in size scope and capabilities and we believe it continues progressing towards becoming a potential standard for AI driven drug development in oncology for both early stage development and later stage patient biomarker stratification in combination therapy identification radar now has now surpassed.
Speaker 2: Radar now has now surpassed 36 billion oncology focus data points who projected reach over 50 billion by the end of this year. And the scope of Radar's data has broadened the strategic focus on additional classes of compounds, including antibodies, checkpoint inhibitors, and DNA damaging agents, and also additional data from clinical studies such as from liquid biopsy and combinations.
<unk> 36 billion oncology focus data points, we projected reach over $50 billion by the end of this year and the scope of radars data has broadened with the strategic focus on additional classes of compounds, including antibodies checkpoint inhibitors and DNA damaging agents and also additional data from clinical studies, such as from liquid biopsy and combination studies.
<unk>.
Speaker 2: So this data is really important because it helps us to find drug interaction and optimal dosage. And I think those are very important future modules for them.
So.
This data is really important because it helps us define drug interaction and optimal dosage and we think those are very important future modules for the platform.
Speaker 2: Now these data points and the associated advancements and automation on the platform, along with algorithms and code comprise a functional module and have advanced Raiders drug development capability.
Now these data points and the associated advancements in automation on the platform along with algorithms and code comprised a functional module and have advanced radars drug development capabilities. The key modules that are being advanced right now are for predicting patient response, and identifying optimal combination regimens for immuno oncology drugs.
Speaker 2: The key modules that are being advanced right now are for predicting patient response and identifying optimal combination regimens for meal oncology drugs, such as mean checkpoint inhibitors, which compromise well in close to 30 plus billion in sales, and also then predicting the blood brain barrier permeability of any molecule.
Such as immune checkpoint inhibitors, which compromise one of close to $30 plus billion in sales and also been predicting the blood brain barrier permeability of any molecule with 90% plus to 94% accuracy and doing that at scale and speed that allows the analysis of tens of thousands of compounds a day.
Speaker 2: with 90 plus to 94% accuracy.
Speaker 2: And doing that at a scale in speed that allows the analysis of tens of thousands of compounds.
Speaker 2: And we also are continuing to advance our ADC template or ADC module for generating drug conjugate templates for the next generation of the ADCs. We expect to have additional data and perhaps posters and papers out on the ADC module.
We also are continuing to advance our ADC.
Template or ADC module for generating drug conjugate templates for the next generation of the ADC. So we expect to have additional data and perhaps posters and papers out on the ADC module.
Speaker 2: These three modules exemplify the type of rapid and meaningful progress the radar platform is expected to make at the end of this year and over the next several quarters. And we think these can become really a hallmark, but almost a backbone for oncology drug development for many times.
These three modules exemplified the type of rapid and meaningful progress the radar platform is expected to make.
And by the end of this year and over the next several quarters and we think these can become really a hallmark, but almost a backbone for oncology drug development for many companies.
Speaker 2: And one of our primary focus during the second half of 2023 has been to further accelerate the enrollment of the harmonic trial. And also position ourselves within the patient advocacy community to drive improved awareness and enrollment in our trials for LP 300, LP 104, LP 280.
However, our primary focus during the second half of 2023 has been to further accelerate the enrollment of the harmonic trial.
And also position ourselves within the patient advocacy community to drive improved awareness and enrollment in our trials for LP 300, helping 184 <unk> hundred 84 now.
Speaker 2: Now we've had several events of the second quarter with groups from GBM Awareness, lung cancer advocacy, and these have generated interest in our trials and are generating an enthusiastic groundswell of interest in participating with our drugs at specific trials.
Now we've had several events of the second quarter with groups from GBM awareness lung cancer advocacy.
And these have generated interest in our trials and are generating.
Enthusiastic groundswell of interest in participating.
With our drugs at specific trial sites.
Speaker 2: We also have an upcoming ATRT rally where a head of clinical development would be speaking for an ultra rare brain cancer, ATRT. And it's a pediatric indication that we plan on pursuing through starlight where our molecular shine tremendous efficacy in preclinical models, specifically in ATRT since that was an inside driven from our AI platform, proven in the lab, and now also allowing us to gain a rare pediatric disease dose.
We also have an upcoming ATR T rally, where our head of clinical development will be speaking for an ultra rare brain cancer HRT and its a pediatric indication that we plan on pursuing through Starlight, where our molecule has shown tremendous efficacy in preclinical models.
Specifically in <unk> since that was an insight driven from our AI platform proven in the lab and now.
Also Mr Gayner rare pediatric disease Doctor.
Speaker 2: So 2023 is shaping into being a pivotal year where our insights are now entering the patients and at the start of their journey to becoming meaningful therapies and cancer. Our collective efforts and dedication and foster the transformational shift for our company, setting us on an exciting trajectory towards the future where we are improving the lives of cancer patients, with effective and affordable targeted treatment options.
So 2023 shaping it into being a pivotal year, where our insights are now entering into patients and have started their journey to becoming meaningful therapies in cancer, our collective efforts and dedication have fostered a transformational shift for our company setting us on an exciting trajectory towards a future where we are improving the lives of cancer patients with effective and affordable targeted treatment.
Speaker 2: In closing, I want to express my deep gratitude to our team, our partners and our stakeholders for their unwavering support. Together, we're really liking the way towards a brighter future in oncology and solving real world problems with our proprietary AI platform that is enabling the rapid development of genomically targeted therapeutics and these are the ones that will alter the costs and timelines and drug discovery and place this at the forefront of a new era in cancer therapy and cancer medicine.
<unk>.
In closing I would express my deep gratitude to our team our partners and our stakeholders for their unwavering support together, we're really liking the way towards a brighter future in oncology and solving real world problems with our proprietary AI platform that is enabling the rapid development of genomic Lee targeted therapeutics.
And these are the ones that will alter the costs and timelines in drug discovery and place us at the forefront of a new era in Cana.
Cancer therapy in cancer Medicine.
Speaker 2: Now that I'd like to open up the call to some questions or clarifications and I'll take questions from our audience.
Now that I would like to open up the call to some questions or clarifications.
I will take questions from our audience now.
Okay.
Yes, so we've got a couple of questions already teed up which is great and we will go first question from John is question I'll repeat it as you move past.
Speaker 2: The Phase I trial for help you 184 do anticipate
The phase one trial for <unk> hundred 84, do you anticipate refining.
Speaker 2: refining the indication what will guide efforts to narrow it down. Well, it's a great question. We will be taking liquid biopsy from the patients in phase one, and obviously some other PKPD data as well, and we think that'll help us refine it. And since it is a basket trial, we do expect there to be a range of response.
The indication what will guide efforts to narrow down well that's a great question and we will be taking liquid biopsy from the patients in phase one and obviously some other PK PD data as well.
And we think that will help us refine it and since it is a basket trial, we do expect there to be a range of response.
Speaker 2: And that also will help us guide. Is there a higher levels of PQGR1 or is it a bigger genomic signature for homologous repair deficiency or nucleotide deficiency mean a better response? Are we getting a muted response in certain cancers versus a higher response in others?
And that also will help US guide is there new higher levels of PT, Jr. One or does have a bigger genomic signature for homologous repair deficiency or nucleotide excision deficiency mean, a better response or are we getting a muted response in certain cancers versus a higher response than others, but you know the phase one data since it's a basket.
Speaker 2: The other phase one data, since it's a basket design, we allow all solid tumors that are refractory. We'll be obviously doing a lot of biomarker work on what's called FFPE slides. And also.
Design will allow all solid tumors that are refractory will be.
Obviously doing a lot of biomarker work on the.
What's called <unk> slides.
And also on liquid biopsy. So yeah. This will be very data heavy even in phase one.
Speaker 2: So yeah, this will be very data heavy in the United States one. Thank you.
Thank you.
The second question.
Speaker 2: Could you provide, you know, over the questions, Kim? And could you provide guidance for when you expect to share initial data from Hermannic phase one studies for LP184288?
Could you provide.
I'll read the questions Kevin could you provide guidance for when you expect to share initial data from harmonic phase one studies for <unk> for 204. So just for clarification harmonic is in phase III, we expect to have perhaps some initial data in the first half of next year, but we expect that once we reach what's called 20 <unk>.
Speaker 2: So just for clarification, hermonic isn't a phase two. We expect to have perhaps some initial date in the first half of next year, but we expect that once we reach what's called 27 events.
Speaker 2: which we hope to reach by the end of next year that we'll be able to give some good data. Of course, it could happen a lot sooner and so we could have water to read out the harmonic next.
Seven events.
Which we hope to reach by the end of next year that we'll be able to give some good data and of course, it could happen a lot sooner and so on.
We could have one or two readouts for harmonic next year for.
Speaker 2: For phase one, LP-184, I expect that to be definitely in the first half of the year. And then as I mentioned earlier, LP-284 is about a quarter behind that. So I expect data in Q1, Q2, and throughout the year, but definitely Q2, Q3, and Q4.
For the phase one L. P 184, I expect that to be.
In the first half of the year and then as I mentioned earlier <unk> 84 is about a quarter behind them. So I expect data in Q1 Q2 and throughout the year, but definitely Q2 Q3 and Q4.
Speaker 4: Another question, wow, great questions.
Another question.
Great questions.
This is regard to the ADC program.
Speaker 2: So in terms of the ADC program, we will be refining
So in terms of the ADC program.
We will be refining some of the indications will be sharing the data in January.
Speaker 2: Some of the indications will be showing the data in January .
Speaker 2: So we'll talk over the timing for 2024. So we expect that I and the application to be in 24 early 25 really depends on
So we'll talk a little bit of a timing for 2024. So we expect that IND application to be in 'twenty for early 'twenty five really depends on.
Speaker 2: how quickly we can manufacture and get a clarity on manufacturing at GMP level. That's gonna be the key driver. We think we have a super-pote molecule. We think there's no other design like it with a cryptificent.
How quickly we can manufacture and get a clarity on manufacturing at GMP level, that's going to be the key driver. We think we have a super potent molecule. We think there is no other.
Design like it with the <unk>. So we believe that it is novel and can extend to many other cancers.
Speaker 2: So we believe that it's novel and can extend to many of their cancers for us it's really going to come down to manufacturing it. And there are some things that we're looking at that'll potentially...
For us, it's really going to come down to manufacturing and there are some things that we're looking at that will potentially.
Speaker 2: really shorten the manufacturing of the ADC, including, again, kind of stealing from the January , but we'll talk also about synthetic nanobodies that can take on the form and function of an antibody but are easier and cheaper to manufacture. And so this might be one of the very first kind of synthetic fragment nanobody drug conjugate.
Really shorten.
The manufacturing of the ADC, including again kind of stealing from the January but we'll talk also about synthetic nano bodies that can take on the form and function of an antibody, but are easier and cheaper to manufacture. So this might be one of the very first kind of synthetic fragment antibody.
<unk> conjugate.
Good question.
Speaker 2: So for one other question, one 84 and 24, on one 84 and two 84, the question is, can you please just from another John . One.
So for one another question, 184% and 24.
And why do you for annuity for the question is can you. Please.
Another John.
Hearing.
Speaker 2: Can you please discuss the timing of the potential, hello John , can you please discuss the timing of the potential readouts? Yes, this is 184, I just started this past quarter. We have that designed in what's called cohertz of three.
Can you please discuss the timing of the potential Hello, John can you. Please discuss the timing potential readouts, yes assistance. When 84 just started this past quarter.
We have that designed in what's called cohorts of three <unk>.
Speaker 2: You see you have three patients that he does the first level two. And then if we see everything green light, we go to the second cohort. That's three. And we get these cohorts of three. We think about cohort three and four, maybe five. We'll start seeing some really good signals.
So you have three patients that you dose the first level two and then if we see everything Greenlight, we go to the second cohort three.
III.
Duties cohorts of theory, we thinking about cohort three and four maybe five we'll start seeing some really good signals.
Speaker 2: and we'll continue basically dancing the cohorts until we get to a maximum tolerance dose, which we expect to see sometime during Q1, and maybe early Q2, so we'll obviously be sharing that.
And we will continue basically advancing the cohorts that we get to a maximum tolerated dose, which we expect to see sometime during Q1 and maybe early Q2, So we'll obviously be sharing that.
Speaker 2: And then same with 284, 284, you know, it's about a quarter behind that, but that cohort design for the first two cohorts in 284 are a little different. Those are designed as cohorts of one.
And then same with 284 to 84, it's about a quarter behind that but that cohort designed for the first two cohorts cohorts and 284 are a little different those are designed as cohorts of one.
Speaker 2: And so we'll be able to get through the first two cohorts pretty quickly and then to cohort three, which is three patients.
So we will be able to get through the first two cohorts pretty quickly and then to cohort three which is three patients.
Speaker 4: So again, in both, I think there are a quarter behind or another, to where the 284 could speed up because we plan on some outbound activity with the lymphoma communities and maybe that'll help us. Again, these are fairly focused trials. We expect to see some hopefully some signals as well, but I'm looking at 22 and 23 for those particular trials for 184 and 284 and if not earlier, and then we'll start obviously in parallel some part during discussions as well. Thank you.
So again in both I think they are a quarter behind where another cohort the 2% to four could speed up because we plan on some outbound activity with lymphoma communities and maybe that will help US again these are fairly.
Focussed trials, we expect to see some hopefully some signals as well, but I'm looking at Q2 and Q3 for those particular trials for one eight for Intuit for and if not earlier then we will start obviously in parallel some partnering discussions as well.
Thank you.
Okay.
Got some more questions.
E Mail.
That will be talking about.
Speaker 2: one is about starlight. Yeah, so is our goal for starlight reason when after starlight is when we first started looking at where all people on 84 could be.
One is about Star line. Yeah. So is our goal for Star Life reason, we went after star life is when we first started looking at.
L. P 184 could be pointed at best.
Speaker 2: in our AI platform, we came back with a signal for CNS cancer.
In our AI platform, we came back with a signal for CNS cancers, now we had we kind of weren't thinking about that.
Speaker 2: Now we had kind of weren't thinking about that because we thought other solid tumors would be exceptionally more sense.
As we thought other solid tumors will be exceptionally more sensitive.
Speaker 2: And we didn't know enough about the blood-brain variability of the molecule at the time.
And we don't know enough about the blood brain barrier permeability of the molecule at the time.
Speaker 2: which is why we started creating the algorithms now, which are top of the world for that purpose.
Which is why we started creating the algorithms and now which are top of the world for that purpose.
Speaker 2: And so we realized once we got the data and signals for GBM, that there's dozens and as I found out later, 120 plus other brain cancer.
And so we realized once we got the data and signals for GBM that theirs.
And as I found out later 120, plus other brain cancers. So a second all of the data as we possibly could like you know I think in one quarter, we set them up and close to 1 billion and a half or something.
Speaker 2: to reflect on all the data that we possibly could, like, I think in one quarter, we reflect on almost a billion in that half.
Speaker 2: And these are wide, large scale genomic biomarker drug sensitivity studies. We normalize that data as quickly as we could. And it wasn't just mutation data, it was also epigenomic data. And we discover that there are another wide range, other brain cancers, secondary and primary, the drug was active.
And these are wide large scale genomic biomarker drug sensitivity studies, we normalize that data as quickly as we could and it wasn't just mutation data is also at the genomic data and we can discover that the another wide range.
Brain cancers secondary and primary the drug was accident.
Speaker 2: As we went to lab to see if those in silica concepts made sense, many of them were right on, in fact, were even more sensitive.
As we went to lab to see if those and silica concepts made sense many of them were <unk>.
Right on in fact, we are even more sensitive.
Speaker 2: And so that led us to the insight that, wow, we have a lot of opportunity for us to wide range of mere oncology. We shared that data with key thought leaders and KOLs. And we also published a society of mere oncology in the last two years. And we got a lot of interest from farmers and we realized this is a massive market opportunity. It's exactly what we want to do is we want to change the pace.
And so that led us to you know the inside that while we have a lot of opportunity across a wide range of neuro oncology.
We shared that data with.
Key thought leaders and Kols.
We also published at the Society of Neuro oncology in the last two years and we've got a lot of interest from farmers and we realize this is a massive market opportunity.
This is exactly what we want to do is we want to change the pace.
Speaker 2: finding these kinds of insights and then generating value for patients and value for investors and generating new medicines. And so the Starlight opportunity really took on a kind of a life of its own. It went from one indication to like five, six, seven indications, which obviously can't do as one company. And since there's a lot of
Finding these kinds of insights and then generating value for patients and value for investors and generating new medicines and so the starlight opportunity really took on a kind of a life of its own and went from one indication to like 567 indications.
Which obviously you can't do as one company and since there's a lot of them.
Speaker 2: Commercial needs for patients, when there's a lot of pharma interest to develop a neural oncology franchise, we think that there's...
Commercial need from patients and Theres, a lot of pharma interest to develop a neuro oncology franchise.
Speaker 2: interest in a new code and this could be one of the very first new codes that spun out directly as a result of
Think that there is interest in.
A newco and this can be one of the very first newco as it spun out directly as a result of it.
Speaker 2: and I driven drug development. And so starlight will get drug product potentially other suggested from us. We'll have a license to pursue neural oncology indications.
AI driven drug development and so at Starlight will get drug product potentially obviously just from US will have a license to pursue neuro oncology indications they won't have to worry about an AI platform and growing it they won't have to worry about a lot of it some of the fundamental drug product infrastructure and CMC questions and so there'll be purely focused on execution.
Speaker 2: They won't have to worry about an AI platform and growing it. They won't have to worry about a lot of some of the fundamental drug product infrastructure and CNC questions. And so they'll be purely focused on execution in the CNS trials, which is great. And so we think we can make exceptional progress if we get standalone management team focused on that and funded. So we're very excited about it.
The CNS trials, which is great and so we think we can have exceptional progress and if we get Standalone management team focused on that and funded so we're very excited about it.
Speaker 4: fairly very good and unique positive to that. And for us that's a Q1 event to raise some funding around that. Early part of the mixture, Q1, Q2, and then launch the Phase 2 trial for multiple indications in GBN and potentially brainwaps in Q2, Q3. So very good question.
Clearly very good and unique positive feedback and for US that's a Q1 event.
To raise some funding around that.
Early part of next year Q1, Q2, and then launch the phase III trial for multiple indications in GBM and potentially brain Mets in Q2 Q3.
So very good question.
I think there's a need.
Yeah.
Yeah.
So a couple more questions have come in and I'll take this.
Speaker 2: So the question during the third quarter of 2023, lantern filed four new patent applications relating to breast, liver and blood cancers and an additional application directed to the life, life, by authorized formulation for these molecules.
So a question during the third quarter of 2023 Lantern filed four new patent applications relating to breast liver in blood cancers, and an additional application directed to the life.
<unk> formulation for these molecules.
Speaker 2: And where does our patent portfolios sit today? David, would you like to take that? Sure, sure.
And where does our patent portfolios sit today.
David would you like to take that sure sure.
Speaker 3: We have an aggregate of over 95 issued patents and pending patent applications.
We have an aggregate of over 95 issued patents and pending patent applications.
Speaker 3: strong patent position in each of our lead product candidate areas.
We have.
Strong patent position in each of our.
Speaker 3: For LP 300, we have claims extending into at least 2032.
Our lead product candidate areas.
For L. P 300, we have claims extending into at least 2032 for.
Speaker 3: For LP 184, we have claims extending into at least 2041. And for 284, we have claims extending into at least 2041.
For LP 184, we'd have claims extending into at least 2041 and for $2 84, we have claims extending into at least 2039 I think one very interesting thing we've seen.
Speaker 3: 2039. I think one very interesting thing we've seen with our radar platform is that it's also a great generator of new insights that you can then use to further expand your IP position.
With our radar platform has been too. It's also a great generator of new insights that you can then use to further expand your IP position and we expect to continue that so we are actively filing as you saw we described what we did in Q3.
Speaker 3: and we expect to continue that so we are actively filing as you saw we described what we did in Q3. We will be actively filing and further further building our IP position in coming quarters as well.
We will be actively filing and the further further building our IP position in coming quarters as well.
Okay.
Speaker 2: Thanks David. Another question we have from Sean. Sean, thanks for your question. His question, what are your expectations around the pace of radar data accumulation in 2024 as you look beyond the 50 billion data points anticipated by end of 2023? That's a really good question. It's a very exciting question.
Thanks, David.
Question, we have from Sean Sean Thanks for your question.
His question is what are your expectations.
<unk> the pace of radar data accumulation in 2024 as you look beyond the 50 billion data points anticipated by end of 2023.
So really good questions very exciting question.
Well.
I think we will we'll have to talk some time.
Speaker 2: in January , or maybe early February , specifically around our radar platform. But I think we'll probably pass 50 billion in the next month or two easily. And we're developing internal goals, but we're thinking kind of a three to four X increase for next year.
In January.
On the mid early February specifically on our radar platform, but I think well probably pass $50 billion in the next month or two easily.
We are developing internal goals, but we're thinking kind of a 3% to forex increase for next year.
Speaker 2: So we're looking at, you know, we'll probably easily get to a hundred billion. So we'll double that number, maybe get to 150 to 200 billion.
So we're looking at probably easily get to 100 billion, so double that number and maybe get to a 150 to 200 billion.
Speaker 2: A lot of this is going to depend on
A lot of this is going to depend on.
Speaker 2: how what the quality of data sets are. We have a couple of initiatives internally and we'll talk about them later around engineered data sets and extracting data from data. We have a couple of initiatives internally and we'll talk about them later around engineered data sets and extracting data from data.
How what the quality of data sets are we have a couple of initiatives internally and we'll talk about them later.
Around engineered datasets and extracting data from <unk>.
Speaker 2: Second, we're also thinking about scraping, doing large scale automated scraping from the right kind of quality publications.
Data that's already available.
Second we're also thinking about scraping doing large scale automated scraping.
And the right kind of quality publications.
Speaker 2: And we're also looking at better and automated feeds from some of the existing more enlightened publications and systems that are doing a machine readable data format, machine ready kind of data extractions like in through JSON files or other kind of configured configuration.
And we're also looking at.
Better in automated feeds from some of the existing <unk>.
More enlightened.
Publications and systems that are doing machine readable data format machine ready kind of.
Did extractions with working through Jason on files or other kind of configure configurations. So we have a number of things I think we're going to.
Speaker 2: So we have a number of things. I think we're gonna crush that 50 billion number next year. I think it could be ordered at least two, maybe up to four.
That 50 billion number next year I think it can be.
Ordered at least two and maybe up to four times that.
Speaker 2: So yeah, it's a great question. And more importantly, it's not just the data, it's really the normalization, the duration of the data, and then of course the algorithms that you can make sense with it.
But yes, it's a great question and then more importantly, just the data is really the normalization and curation of the data and then of course the algorithms that you can make sense of all that data.
Thank you.
Speaker 2: Well with that, I'd like to thank everyone for participating. I know we had a lot of really good questions, and there being no further questions, we'd like to conclude today's call. Thank you.
With that I'd like to thank everyone for participating in a with a lot of really good questions.
<unk>.
There being no further questions.
We'd like to conclude today's call. Thank you.
Thanks, everybody.