Q4 2025 Lantern Pharma Inc Earnings Call

March 30, 2026

Good afternoon, and welcome to our fourth quarter and year end 2025 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 managements presentation.

A webcast replay of today's conference call will be available on our website Atlanta permit dot com shortly after the call.

We issued a press release after market close today summarizing our financial results and progress across the company for the fourth quarter and year.

And at December 31st 2025.

A copy of this release is available through our website Atlanta 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 future expectations performance edge.

Estimated 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 statements are subject to risks and uncertainties 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 the forward looking statements.

Can be found in our annual report on Form 10-K for the year ended.

December 31st 2025.

Which is on file with the S E C and available on our website.

Forward looking statements made on this conference call are as of today March 30th 20, twenty-six 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 land terms website on today's webcast. We have lantern pharmacy E O punished Sharma and CFO David Margarines.

I will start things off with introductions and an overview of lantern strategy and business model.

And highlight recent achievements and 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 the call for Q&A.

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

Please go ahead.

Good afternoon, and thank you for joining us today to hear about our fourth quarter and fiscal year 2025 results in corporate progress.

As many of you have heard me say in the past computation and AI driven approaches are increasing their presence and usage in both large and emerging pharma companies for all facets of drug discovery and fundamental biomedical research the future of medicine is going to be intimately involved with AI technologies.

<unk> AI models, our leadership in the innovative use of AI and machine learning to transform the process of developing precision oncology therapies should yield significant returns for investors and patients as our industry matures and adopts an AI centric data first approach to drug development.

2025 was a defining year for landrum pharma, we achieved clinical validation, we believe across multiple programs, while establishing the foundation for our next phase of growth.

Panna Sharma: Should yield significant returns for investors and patients as our industry matures and adopts an AI-centric data-first approach to drug development. 2025 was a defining year for Lantern Pharma. We achieved clinical validation, we believe, across multiple programs while establishing the foundation for our next phase of growth. We believe that we had encouraging and a unique development with LP-300 in the phase 2 Harmonic observations, combined with also a successful phase 1-A completion for our LP-184 clinical trial, and most recently, an FDA IND clearance for a pediatric CNS cancer program through Starlight Therapeutics. We believe all these represent transformational milestones that validate and strengthen our AI-driven approach to precision oncology. Today, we're sitting at a point in time where all of our initial ideas and concepts regarding our molecules have now been dosed to patients successfully in some manner in both phase 1 and phase 2 trials.

Panna Sharma: Should yield significant returns for investors and patients as our industry matures and adopts an AI-centric data-first approach to drug development. 2025 was a defining year for Lantern Pharma. We achieved clinical validation, we believe, across multiple programs while establishing the foundation for our next phase of growth. We believe that we had encouraging and a unique development with LP-300 in the phase II Harmonic observations, combined with also a successful phase I-A completion for our LP-184 clinical trial, and most recently, an FDA IND clearance for a pediatric CNS cancer program through Starlight Therapeutics. We believe all these represent transformational milestones that validate and strengthen our AI-driven approach to precision oncology. Today, we're sitting at a point in time where all of our initial ideas and concepts regarding our molecules have now been dosed to patients successfully in some manner in both phase I and phase II trials.

Speaker #1: To yield significant returns for investors and patients as our industry matures and adopts an AI-centric, data-first approach to drug development. 2025 was a defining year for Lantern Pharma.

We believe that we had encouraging and a unique development where L. P 300 in the phase two harmonic observations.

Speaker #1: We achieved clinical validation—we believe across multiple programs—while establishing the foundation for our next phase of growth. We believe that we had encouraging and unique development with LP-300 in the Phase 2 Harmonic observations, combined with the successful Phase 1a completion for the LP-184 clinical trial, and most recently, an FDA 9D clearance for the pediatric venous cancer program through Starlight Therapeutics.

Combined has also had a successful phase one eight completion for our L. P 184 clinical trial and most recently Neff D. A RMB clearance for pediatric CNS cancer program through Starlight Therapeutics.

We believe all of these represent transformational milestones with validated strengthen our AI driven approach precision oncology.

Today, we're sitting at a point in time or all of our initial ideas and concepts regarding our molecules have now been dosed two patients successfully in some manner in both phase one and phase II trials.

Speaker #1: We believe all these represent transformational milestones that validate and strengthen our AI-driven approach to precision oncology. Today, we're sitting at a point in time where all of our initial ideas and concepts regarding our molecules have now been dosed to patients successfully in some manner in both Phase 1 and Phase 2 trials.

Also our full year financial results reflect disciplined execution with a 19% reduction in total operating expenses year over year, even as we advanced multiple clinical programs through key inflection points and also introduce a highly unique multi a gentex system aimed at conquering rig cancers.

Speaker #1: Also, our full-year financial results reflect disciplined execution with a 90% reduction in total operating expenses year over year, even as we advanced multiple clinical programs through key inflection points and also introduced a highly unique multi-agentic system aimed at conquering rare cancers.

Panna Sharma: Also, our full-year financial results reflect disciplined execution with a 19% reduction in total operating expenses year over year, even as we advanced multiple clinical programs through key inflection points and also introduced a highly unique multi-agentic system aimed at conquering rare cancers. As we move into 2026, we are positioning to advance our clinical programs, expand our RADR platform's commercial reach and revenue potential globally through our new AI center of excellence in India, and further strengthen our balance sheet. Our AI-driven clinical pipeline now encompasses multiple drug candidates across solid tumors, blood cancers, and pediatric oncology with a combined estimated annual market potential exceeding $15 billion and approaching $20 billion.

As we move into 2026, we are positioning to advance our.

Our clinical programs expand our radar platforms commercial reach and revenue potential globally through our new AI Center of excellence in India, and further strengthen our balance sheet.

Speaker #1: As we move into 2026, we are positioning to advance our clinical programs and expand our RADR platform commercial reach and revenue potential globally through our new AI Center of Excellence in India, and further strengthen our balance sheet.

Our AI driven clinical pipeline now encompasses multiple drug candidates across solid tumors blood cancers, and pediatric oncology with a combined estimated annual market potential exceeding $15 billion and approaching 20 billion on average our newly developed drug programs have been advanced from initial AI insights or concepts to first.

Speaker #1: Our AI-driven clinical pipeline now encompasses multiple drug candidates across solid tumors, blood cancers, and pediatric oncology, with a combined estimated annual market potential exceeding $15 billion and approaching $20 billion.

In human clinical trials in two and half to three years and at approximately a few million dollars per program. It is very important to note that we have dosed over 100 patients across our programs and seen clear linkage to mechanisms in patient value that we believe in your future medicinal opportunities in a range of cancers that we are continuing to advance.

Speaker #1: On average, our newly developed drug programs have been advanced from initial AI insights or concepts to first-in-human clinical trials in two and a half to three years, and at approximately a few million dollars per program.

Panna Sharma: On average, our newly developed drug programs have been advanced from initial AI insights or concepts to first-in-human clinical trials in 2.5 to 3 years and at approximately $ a few million per program. It is very important to note that we have dosed over 100 patients across our programs and seen clear linkage to mechanisms and patient value that we believe can yield future medicinal opportunities in a range of cancers that we are continuing to advance. Before moving on, I want to take a moment to directly address some malicious and fake news that has been circulated online falsely claiming that I am departing Lantern Pharma or have stepped down as CEO. This is categorically untrue and appears to be rooted in a deliberate and perhaps malicious attempt to manipulate our stock price.

Speaker #1: It is very important to note that we have dosed over 100 patients across our programs and seen clear linkage to mechanisms and patient value that we believe will yield future medicinal opportunities in a range of cancers that we are continuing to advance.

Before moving on I wanted to take a moment to directly address the malicious and fake news that has been circulated online fall asleep, claiming that I'm departing lantern pharma, where it stepped down as CEO. This is categorically untrue and appears to be rooted in a deliberate and perhaps malicious attempt to manipulate our stock price. This disinformation.

Speaker #1: Before moving on, I want to take a moment to directly address the malicious and fake news that has been circulated online, falsely claiming that I am parting with Lantern Pharma or stepping down as CEO.

Speaker #1: This is categorically untrue, and it appears rooted in a deliberate and perhaps malicious attempt to manipulate our stock price. This disinformation has caused real harm to our company, to the mission we are pursuing on behalf of cancer patients, and to our investors.

It is caused real harm to our company to the mission, we are pursuing on behalf of cancer patients and to our investors and we intend to pursue all appropriate civil criminal legal recourse against those responsible.

Speaker #1: And we intend to pursue all appropriate civil, criminal, and legal recourse against those responsible. Let me share with you now, more importantly, the more notable achievement of the past year and quarter, and where we are heading into 2026.

Let me share with you now more importantly, the more notable achievements over the last year past year and quarter and where we are heading into 2026.

Panna Sharma: This disinformation has caused real harm to our company, to the mission we are pursuing on behalf of cancer patients, and to our investors, and we intend to pursue all appropriate civil, criminal, legal recourse against those responsible. Let me share with you now, more importantly, the more notable achievements over the past year and quarter, where we are heading into 2026. Let me start with our LP-300 program, the Harmonic trial, which addresses a significant and growing unmet need in lung cancer. Harmonic is focused exclusively on never smokers, non-small cell lung cancer who have progressed after treatment on TKIs. In Asia, never smokers represent now close to 40% of all non-small cell lung cancer cases, compared to about 15% to 17% in the US and Europe. The market opportunity here is substantial.

Let me start with our LP 300 program.

Speaker #1: Let me start with our LP300 program. The Harmonic trial addresses a significant and growing unmet need in lung cancer. Harmonic is focused exclusively on never-smokers with non-small cell lung cancer who have progressed after treatment on TKIs.

The harmonic trial, which addresses a significant and growing unmet need in lung cancer <unk>.

Harmonic is focused exclusively on never smokers non small cell lung cancer, who have progressed after treatment on <unk>.

In Asia I'd ever smokers represent now close to 40% of all non small cell lung cancer cases, compared to about 15% to 17% in the U S and Europe.

Speaker #1: In Asia, never-smokers now represent close to 40% of all non-small cell lung cancer cases, compared to about 15% to 17% in the US and Europe.

The market opportunity here is substantial over $4 billion, we believe annually.

Speaker #1: The market opportunity here is substantial—over $4 billion, we believe, annually, in spend on people who are not smokers, never-smokers, and get non-small cell lung cancer.

In spend on people, who are not smokers are never smokers and get non small cell lung cancer. There are currently no therapies approved specifically for this patient population the phase II harmonic trial continued to advance through the fourth quarter and into early 2026 with ongoing patient enrollment and follow up across clinical sites in the U.

Speaker #1: There are currently no therapies approved specifically for this patient population. The Phase 2 Harmonic trial continued to advance through the fourth quarter and into early 2026, with ongoing patient enrollment and follow-up across clinical sites in the US, Japan, and Taiwan.

Panna Sharma: Over $4 billion, we believe, annually in spend on people who are not smokers or never smokers and get non-small cell lung cancer. There are currently no therapies approved specifically for this patient population. The Phase 2 Harmonic trial continued to advance through Q4 and into early 2026, with ongoing patient enrollment and follow-up across clinical sites in the US, Japan, and Taiwan. Last year, we completed the targeted enrollment in Japan ahead of schedule across 5 clinical sites, including the National Cancer Center Japan. During Q4, clinical investigators presented data at the 66th annual meeting of the Japan Lung Cancer Society from both Asian and US cohorts.

Panna Sharma: Over $4 billion, we believe, annually in spend on people who are not smokers or never smokers and get non-small cell lung cancer. There are currently no therapies approved specifically for this patient population. The phase II Harmonic trial continued to advance through Q4 and into early 2026, with ongoing patient enrollment and follow-up across clinical sites in the US, Japan, and Taiwan. Last year, we completed the targeted enrollment in Japan ahead of schedule across 5 clinical sites, including the National Cancer Center Japan. During Q4, clinical investigators presented data at the 66th annual meeting of the Japan Lung Cancer Society from both Asian and US cohorts.

Japan and Taiwan.

Speaker #1: Last year, we completed the targeted enrollment in Japan and had a schedule across five clinical sites, including the National Cancer Center of Tokyo. During Q4, clinical investigators presented data to 66 annual meetings of the Japan Lung Cancer Society, from both Asian and US cohorts.

Last year, we completed the targeted enrollment in Japan ahead of schedule across five clinical sites, including the National Cancer Center of Tokyo.

During Q4, our clinical investigators presented data at the 66th annual meeting of the Japan lung cancer Society from both Asian, and U S. Cohorts. The trial as previously demonstrated an 86% clinical benefit rate and a 43% objective response rate in its initial safety lead in cohort, including one patient with a durable complete.

Speaker #1: The trial has previously demonstrated an 86% clinical benefit rate and a 43% objective response rate in its initial safety lead cohort, including one patient with a durable complete response and survival continuing for nearly two years.

Johnson survival continuing for nearly two years.

Speaker #1: Let's talk a little bit about our upcoming Type C meeting. We're getting more involved with the FDA, and in March, we submitted a Type C meeting package to the FDA for LP300.

Panna Sharma: The trial has previously demonstrated an 86% clinical benefit rate and a 43% objective response rate in its initial safety lead-in cohort, including one patient with a durable complete response and survival continuing for nearly two years. Let's talk a little bit about our upcoming Type C meeting. We're getting more involved with the FDA, and in March, we submitted a Type C meeting package to the FDA for LP-300. The meeting is scheduled now for mid-May 2026. We are seeking FDA feedback on three proposed protocol amendments that came out as a direct result of our observations from the trial. First, focusing future enrollment on patients with EGFR exon 21 L858R mutation, where our preliminary analysis suggests greater clinical benefit from the LP-300 regimen in combination with the chemo doublet for these 858R mutation patients.

Let's talk a little bit about our upcoming type C meeting.

We're getting more involved with the FDA and in March we submitted a type C meeting package to the FDA for LP 300. The meeting scheduled now for mid May 2026, we are seeking FDA feedback on three proposed protocol amendments that came out as a direct result of our observations from the trial.

Speaker #1: The meeting is scheduled now for mid-May 2026. We are seeking FDA feedback on brief proposed protocol amendments that came out as a direct result of our observations from the trial.

Speaker #1: First, focusing future enrollment on patients with EGFR exon 21 L858R mutation, where our preliminary analysis suggests greater clinical benefit from the LP-300 regimen in combination with chemo doublet for these 858R mutation patients.

First focusing future enrollment on patients with Egfr exon 21, 858, <unk> mutation, where our preliminary analysis suggest greater clinical benefit from the LP 300 regimen in combination with chemo doublet for these 858 <unk> mutation patients.

Speaker #1: Second, increasing maximum LP300 treatment cycles from six to eight based on established safety data and the mechanism. Third, converting a phase 2 single to a phase 2 single-arm, silent two-stage design, reflecting the evolving treatment landscape that has made continued randomization to the control arm increasingly challenging due to changed control protocols.

Second increasing maximum LP 300 treatment cycles from six to eight based on established safety data and the mechanism.

Third converting a phase II single converting to a phase two single arm Simon two stage design, reflecting the evolving treatment landscape that has made continued randomization to the control arm increasingly challenging due to changed control protocols.

Panna Sharma: Second, increasing maximum LP-300 treatment cycles from 6 to 8 based on established safety data and the mechanism. Third, converting to a Phase 2 single-arm Simon two-stage design reflecting the evolving treatment landscape that has made continued randomization to the control arm increasingly challenging due to changed control protocols. We are actively exploring collaboration and partnering opportunities globally to maximize LP-300's commercial potential. We're in discussions with several regional and global pharma companies around the future of this exciting treatment, and we expect additional clinical updates in the coming weeks, along with insights on the exon 21 L858R population of patients. Turning now to what I believe remains one of our most significant assets, in Q4 of 2025, we reported additional positive LP-184 Phase 1 results, showing durable disease control in heavily pretreated advanced cancer patients.

Panna Sharma: Second, increasing maximum LP-300 treatment cycles from 6 to 8 based on established safety data and the mechanism. Third, converting to a phase II single-arm Simon two-stage design reflecting the evolving treatment landscape that has made continued randomization to the control arm increasingly challenging due to changed control protocols. We are actively exploring collaboration and partnering opportunities globally to maximize LP-300's commercial potential. We're in discussions with several regional and global pharma companies around the future of this exciting treatment, and we expect additional clinical updates in the coming weeks, along with insights on the exon 21 L858R population of patients. Turning now to what I believe remains one of our most significant assets, in Q4 of 2025, we reported additional positive LP-184 phase I results, showing durable disease control in heavily pretreated advanced cancer patients.

Speaker #1: We're actively exploring collaboration and partnering opportunities globally to maximize LP-300's commercial potential. We're in discussions with several regional and global pharma companies around the future of this exciting treatment, and we expect additional clinical updates in the coming weeks, along with insights on the exon 21 L858R population patients.

We are actively exploring collaboration and partnering opportunities globally to maximize LP three hundred's commercial potential we are in discussions with several regional and global pharma companies around the future of this exciting treatment.

And we expect additional clinical updates in the coming weeks along with insights on the exon 21 L. A five eight our population of patients.

Speaker #1: Turning now to what I believe remains one of our most significant assets. In Q4 2025, we reported additional positive LP184 Phase 1 results, showing durable disease control in heavily pre-treated advanced cancer patients.

Turning now to what I believe remains one of our most significant assets in Q4 of 2025, we reported additional positive LP 184 phase one results showing durable disease control.

Speaker #1: The trial enrolled 63 patients and achieved all primary endpoints, with a 48% clinical benefit rate—at or above the therapeutic threshold. It's a unique and promising signal of activity in this patient population.

In heavily pretreated advanced cancer patients. The trial enrolled 63 patients achieved all primary endpoints of a 48% clinical benefit rate at or above the therapeutic threshold, so unique and promising signal of activity.

Speaker #1: The data validated our synthetically lethal hypothesis. We saw marked tumor reductions that were observed in patients with DNA damage repair mutations, including CHEK2, ATM, BRCA1, and STK11. These were all alterations that were initially signaled through 500 radar-driven insights.

Patient population.

The data validated our synthetic lethal hypothesis, we saw marked tumor reductions that were observed in patients with DNA damage repair mutations, including Chuck to ATM BRCA, one SDK 11.

Panna Sharma: The trial enrolled 63 patients, achieved all primary endpoints with a 48% clinical benefit rate at or above the therapeutic threshold. It's a unique and promising signal of activity to this patient population. The data validated our synthetic lethal hypothesis. We saw marked tumor reductions that were observed in patients with DNA damage repair mutations, including CHEK2, ATM, BRCA1, STK11, and these were all alterations that were initially flagged or signaled through RADR-driven insights. We also established a recommended Phase 2 dose of 0.39 milligrams per kilogram with a favorable safety profile and saw notable clinical benefits in some very difficult-to-treat cancers, including relapsed GBM, gastrointestinal stromal tumors, and thymic carcinoma. Many of these patients are now getting clinical benefit for over a year into their treatment cycles.

Panna Sharma: The trial enrolled 63 patients, achieved all primary endpoints with a 48% clinical benefit rate at or above the therapeutic threshold. It's a unique and promising signal of activity to this patient population. The data validated our synthetic lethal hypothesis. We saw marked tumor reductions that were observed in patients with DNA damage repair mutations, including CHEK2, ATM, BRCA1, STK11, and these were all alterations that were initially flagged or signaled through RADR-driven insights. We also established a recommended phase II dose of 0.39 milligrams per kilogram with a favorable safety profile and saw notable clinical benefits in some very difficult-to-treat cancers, including relapsed GBM, gastrointestinal stromal tumors, and thymic carcinoma. Many of these patients are now getting clinical benefit for over a year into their treatment cycles.

Speaker #1: We also established a recommended Phase 2 dose of 0.39 milligrams per kilogram, with a favorable safety profile, and saw notable clinical benefits in some very difficult-to-treat cancers, including relapsed GBM, gastrointestinal stromal tumors, and thymic carcinoma.

And these are all alterations that were initially flagged or signal through radar driven insights. We also established a recommended phase two doses <unk> three nine milligrams per kilogram.

With a favorable safety profile and saw notable clinical benefits and some very difficult to treat cancers, including relapsed GBM.

Speaker #1: Many of these were the patients that are now getting clinical benefit for over a year into their treatment cycles. These are typically tumors with sub-six-month PFAS and very poor OS as well.

Gastrointestinal stromal tumors and <unk> carcinoma. Many of these where these patients are now getting clinical benefit for up over a year into their treatment cycles.

These are typically tumors with sub six months.

Speaker #1: The Phase 1b, Phase 2a development plan—we're building on these results and repositioning these into multiple precision oncology trials. Let me walk you through this.

PFS and very poor OS as well.

The phase one b phase III a development plan are building on these results and we're positioning these into multiple precision oncology trials, let me walk you through those first.

Speaker #1: First, triple-negative breast cancer. We've spent over $4 billion. We have an FDA-reviewed protocol for a combination study with elaprid, and we hold fast-track designation.

Panna Sharma: These are typically tumors with sub 6-month PFS and very poor OS as well. The Phase 1b, Phase 2a development plan is building on these results, and we're positioning these into multiple precision oncology trials. Let me walk you through those. First, triple-negative breast cancer, where over $4 billion were spent, we have an FDA-reviewed protocol for a combination study with olaparib, and we hold Fast Track Designation. Second, non-small cell lung cancer with patients that have TF1 or STK11 mutations. We believe about a $1.5 billion opportunity in patients who typically fail immunotherapy and are not good responders for chemotherapy. Third, an investigator-led bladder cancer study planned in Denmark targeting PTGR1 overexpressing tumors with DNA damage repair mutations.

Panna Sharma: These are typically tumors with sub 6-month PFS and very poor OS as well. The phase Ib, phase IIa development plan is building on these results, and we're positioning these into multiple precision oncology trials. Let me walk you through those. First, triple-negative breast cancer, where over $4 billion were spent, we have an FDA-reviewed protocol for a combination study with olaparib, and we hold Fast Track Designation. Second, non-small cell lung cancer with patients that have TF1 or STK11 mutations. We believe about a $1.5 billion opportunity in patients who typically fail immunotherapy and are not good responders for chemotherapy. Third, an investigator-led bladder cancer study planned in Denmark targeting PTGR1 overexpressing tumors with DNA damage repair mutations.

Speaker #1: Second, non-small cell lung cancer, with patients that have TF1 or SDK11 mutations. We believe there is about a $1.5 billion opportunity in patients who typically fail immunotherapy and are not good responders for chemotherapy.

Triple negative breast cancer were $4 billion are spent we have an FDA reviewed protocol for a combination study with elaborate and we hold fast track designation second non small cell lung cancer with patients that have Kiev Warner SDK 11 mutations, we believe about a $1 5 billion opportunity in patients who typically philomena.

Speaker #1: Third, an investigator-led bladder cancer study planned in Denmark targeting pTGR1 overexpressed tumors with DNA damage repair mutations. All three are precision oncology trials. We're going to be driven by mechanistic insights, biomarkers, and a very focused patient population that we believe has been validated from the outcomes in our Phase 1 and also in our extensive preclinical work.

Therapy and are not responders for chemotherapy.

Third an investigator led bladder cancer study planned in Denmark targeting <unk> pressing tumors with DNA damage repair mutations.

All three of precision oncology trials were being driven by mechanistic insights biomarkers and very focused patient populations that we believe have been validated from the outcomes in our phase one and also in our extensive preclinical work. These.

Speaker #1: These trials are subject, of course, to additional funding—which we're actively pursuing—whether it be through grants or other mechanisms. What distinguishes our synthetically lethal approach is its mechanistic precision.

Panna Sharma: All three are precision oncology trials, where they're being driven by mechanistic insights, biomarkers, and very focused patient populations that we believe have been validated from the outcomes in our Phase 1 and also in our extensive preclinical work. These trials are subject, of course, to additional funding, which we're actively pursuing, and whether it be through grants or other mechanisms. What distinguishes our synthetic lethal approach is its mechanistic precision. Unlike conventional chemotherapies that indiscriminately target dividing cells, both our first-in-human drugs, LP-184 and LP-284, exploit specific genomic vulnerabilities in cancer cells, particularly those with deficiencies in DNA damage repair.

Panna Sharma: All three are precision oncology trials, where they're being driven by mechanistic insights, biomarkers, and very focused patient populations that we believe have been validated from the outcomes in our phase I and also in our extensive preclinical work. These trials are subject, of course, to additional funding, which we're actively pursuing, and whether it be through grants or other mechanisms. What distinguishes our synthetic lethal approach is its mechanistic precision. Unlike conventional chemotherapies that indiscriminately target dividing cells, both our first-in-human drugs, LP-184 and LP-284, exploit specific genomic vulnerabilities in cancer cells, particularly those with deficiencies in DNA damage repair.

Speaker #1: Unlike conventional chemotherapies that indiscriminately target dividing cells, both our first-in-human drugs, LP184 and LP284, exploit specific genomic vulnerabilities in cancer cells—particularly those with deficiencies in DNA damage repair.

These trials are subject of course to additional funding, which we're actively pursuing and whether it be through grants or other mechanisms.

What distinguishes our synthetic lethal approach is its mechanistic precision unlike conventional chemotherapies that indiscriminately target dividing cells. Both our first in human drugs <unk> 1484, exploit specific genomic vulnerabilities in cancer cells, particularly those with deficiencies in DNA damage repair the pharmacokinetic data.

Speaker #1: The pharmacokinetic data from these trials suggest we're approaching concentration levels that correlate with the nanomolar frequency that we've already observed in clinical models. A critical inflection point that we believe has shown a proof of mechanism in patients and may pave the way for future trials and, more importantly, pharma partnerships.

Speaker #1: During our collaboration last year with MD Anderson, it was also revealed that LP184 had a very unique and remarkable ability to transform immunologically cold tumors, especially in TBC, into hot tumors.

From these trials suggest we're approaching concentration levels correlate with the narrow more potency that we've already observed in clinical models a critical inflection point that we believe has shown a proof of mechanism in patients and it may paved the way for future trials and more importantly pharma partnerships.

Speaker #1: A breakthrough with profound implications for expanding immunotherapy benefits to previously unresponsive patients. This isn't merely additive efficacy; it represents a mechanistic synergy that addresses one of immunotherapy's most significant limitations, and it opens up additional co-development opportunities and new indication expansion for PD-1 and PD-L1 checkpoint inhibitors that have stopped working.

Panna Sharma: The pharmacokinetic data from these trials suggest we're approaching concentration levels that correlate with the nanomolar potency that we've already observed in clinical models, a critical inflection point that we believe has shown a proof of mechanism in patients, and it may pave the way for future trials and, more importantly, pharma partnerships. During our collaboration last year with MD Anderson, it was also revealed that LP-184 had a very unique and remarkable ability to transform immunologically cold tumors, especially in TNBC, into hot tumors, a breakthrough with profound implications for expanding immunotherapy benefits to previously unresponsive patients. This isn't merely additive efficacy. It represents a mechanistic synergy that addresses one of immunotherapy's most significant limitations, and it opens up additional co-development opportunities and new indication expansion where PD-1 and PD-L1 checkpoint inhibitors have stopped working. Let me move on to Starlight Therapeutics.

During our collaboration last year with MD Anderson. It was also revealed that <unk> four had a very unique and remark ability to transform immunologically cold tumors, especially in TWC into hot tumors, a breakthrough with profound implications for expanding immunotherapy benefits to previously unresponsive patients this isn't merely additive.

Speaker #1: Moving on to Starlight Therapeutics. Starlight Therapeutics, we cleared IND for a planned Phase 1 pediatric CNS cancer trial. We announced this last week on Friday.

Efficacy it represents a mechanistic synergy that addresses one of Immunotherapies, most significant limitations and it opens up additional co development opportunities and new indication expansion, where PD, one and PDL one checkpoint inhibitors have stopped working.

Speaker #1: This is an innovative trial design that we unveiled at the Society for Neuro-Oncology, and it features a unique combination of silent lactone and exemplifies the power of computational biology.

We will move on to star like Therapeutics.

Speaker #1: We're approaching—I'm sorry, we're exploiting synthetic lethality of our drug in GBM through a mechanistically elegant interaction. Spironolactone degrades ERCC, a critical DNA repair protein that causes further vulnerability, that then STAR-101 exploits with precision in these brain tumors.

Okay Therapeutically, we cleared the IND for our planned phase one pediatric CNS cancer trial, we announced this last week on Friday. This is an innovative trial design that we unveiled at the society for neuro oncology and features a unique combination spironolactone.

Panna Sharma: At Starlight Therapeutics, we cleared an IND for a planned Phase 1 pediatric CNS cancer trial. We announced this last week on Friday. This is an innovative trial design that we unveiled at the Society for Neuro-Oncology, and it features a unique combination of spironolactone and exemplifies the power of computational biology. We're approaching, so we're exploiting the synthetic lethality of our drug in GBM through a mechanistically elegant interaction. Spironolactone degrades ERCC, a critical DNA repair protein that causes further vulnerability that then STAR-001 exploits with precision in these brain tumors. The IND being cleared for this trial is a milestone that I'm particularly proud of, and I want to spend some more time on it because Starlight Therapeutics, our CNS oncology franchise, is now well positioned for that.

Panna Sharma: At Starlight Therapeutics, we cleared an IND for a planned phase I pediatric CNS cancer trial. We announced this last week on Friday. This is an innovative trial design that we unveiled at the Society for Neuro-Oncology, and it features a unique combination of spironolactone and exemplifies the power of computational biology. We're approaching, so we're exploiting the synthetic lethality of our drug in GBM through a mechanistically elegant interaction. Spironolactone degrades ERCC, a critical DNA repair protein that causes further vulnerability that then STAR-001 exploits with precision in these brain tumors. The IND being cleared for this trial is a milestone that I'm particularly proud of, and I want to spend some more time on it because Starlight Therapeutics, our CNS oncology franchise, is now well positioned for that.

Speaker #1: The idea being cleared in this trial is a milestone, but I'm particularly proud of it and I will spend some more time on it because Starlight Therapeutics, our CNS oncology franchise, is now well positioned for that.

Our architectural biology.

We're approaching them. So we're exploiting the synthetic lethality of our drug in GBM through a mechanistically elegant interaction spirolactone degrades ARCC a critical DNA repair protein that causes further further vulnerability that then star double a one exports with precision and these brain tumors.

Speaker #1: In early 2026, the FDA cleared the 9D for Starlight Therapeutics, in not only recurrent CNS tumors, but ATRT and other rare pediatric tumors. With this clearance, we now have INDs cleared for both our adult and our pediatric programs, positioning us to pursue clinical development across the full patient spectrum.

The idea being cleared for this trial is a milestone that I'm, particularly proud of and I want to spend some more time on it because starlite therapeutics, our CNS oncology franchise is now well positioned for that in early 2026, the FDA cleared the IND for Starwood therapeutics.

Speaker #1: This is a pivotal regulatory milestone for our wholly owned CNS-focused subsidiary. STAR-101 has received both Rare Pediatric Disease designation and Orphan Drug designation from the FDA for ATRT, along with additional Rare Pediatric Disease designations for hepatoblastoma, rhabdomyosarcoma, and malignant rhabdoid tumors.

In.

Not only <unk>.

Recurring CNS tumors, but an ATR tea and other rare pediatric tumors with this clearance. We now have <unk> cleared for both of our adult and pediatric programs positioning us to pursue clinical development across the full patient spectrum. This is a pivotal regulatory milestone for our wholly owned CNS focused subsidiary <unk>.

Panna Sharma: In early 2026, the FDA cleared the IND for Starlight Therapeutics in not only recurrent CNS tumors, but in ATRT and other rare pediatric tumors. With this clearance, we now have INDs cleared for both our adult and our pediatric programs, positioning us to pursue clinical development across the full patient spectrum. This is a pivotal regulatory milestone for our wholly-owned CNS-focused subsidiary. STAR-001 has received both Rare Pediatric Disease Designation and Orphan Drug Designation from the FDA for ATRT, along with additional Rare Pediatric Disease Designations for hepatoblastoma, rhabdomyosarcoma, and malignant rhabdoid tumors. These designations provide pathways for FDA priority review vouchers upon a potential approval. PRVs have been sold or transferred for significant value historically, with recent transactions in the range of $150 to 200 million, and our drug has four of these.

Speaker #1: These designations provide pathways for FDA priority review vouchers upon a potential approval. PRVs have been sold or transferred for significant value historically, with recent transactions in the range of $150 to $200 million, and our drug has four of these.

<unk> has received both rare pediatric disease designation and orphan drug designation from the FDA for <unk>, along with additional rare pediatric disease designations for <unk> stoma, rhabdomyosarcoma and malignant <unk> tumors. These designations provide pathways for FDA priority review vouchers upon a P.

Speaker #1: Importantly, each of these rare pediatric disease designations independently qualifies, upon potential FDA approval and meeting other program conditions, for these PRVs. There are multiple shots on goal from a single molecule, representing a potentially meaningful source of non-diluted value for Lantern and its shareholders, independent of the commercial potential of the underlying therapy.

Potential approval <unk> have been sold or transferred for significant value historically with recent transactions in the range of $150 million to $200 million.

Speaker #1: Now, the scientific rationale for a combination of spironolactone is compelling. It's unique. It's powerful. Preclinical studies demonstrated a 3- to 6-fold increase in GBM cell sensitivity when combining these agents, with most preclinical models showing complete tumor eradication and minimal recurrence.

Our drug has for these.

Importantly, each of these rare pediatric disease designations independently qualifies upon a potential FDA approval and many other program conditions.

Speaker #1: This can be especially critical in the most sensitive patients, such as children, the elderly, or those that have undergone multiple prior lines of therapy.

For these <unk> that has multiple shots on goals from a single molecule, representing a potentially meaningful source of non dilutive value for land turned and its shareholders independent of the commercial potential of the underlying therapy.

Panna Sharma: Importantly, each of these Rare Pediatric Disease Designations independently qualifies upon potential FDA approval and meeting other program conditions for these PRVs. That's multiple shots on goals from a single molecule, representing a potentially meaningful source of non-dilutive value for Lantern and its shareholders, independent of the commercial potential of the underlying therapy. Now, the scientific rationale for combination with spironolactone is compelling. It's unique and novel. Pre-clinical studies demonstrated a three- to six-fold increase in GBM cell sensitivity when combining with these agents, with most pre-clinical models showing complete tumor eradication and minimal recurrence. This can be especially critical in the most sensitive of patients, such as children, the elderly, or those that have undergone multiple prior lines of therapy. Even more interesting is that STAR-001 has shown anti-tumor activity in GBM regardless of the MGMT status.

Speaker #1: More interesting is that STAR-101 has shown anti-tumor activity in GBM regardless of the MGMT studies. So, let's talk a little bit about why this mechanism is distinctive and first-in-class.

The scientific rationale for combination spironolactone is compelling it's unique and novel preclinical studies demonstrated a 3% to six fold increase in GBM cell sensitivity when combining with these agents with most preclinical models showing complete tumor eradication and minimal recurrence. This can be especially critical in the most sensitive pace.

Speaker #1: This is where our RADR AI platform and novel mechanistic biology really come to life. The planned trial includes a dedicated combination cohort evaluating STAR-101 with spironolactone, and again, this was initially identified with our platform. We believe that this combination creates some unique synthetic lethality in these challenging brain tumors.

<unk> such as children, the elderly are those who have gone.

Undergone multiple prior lines of therapy.

Even more interesting is that start of Olin has shown anti tumor activity in GBM, regardless of the MGMT status.

Speaker #1: Now, once our drug is activated, when pTGR1 is overexpressed, it induces DNA double-strand breaks that are lethal to the cancer cell if left unrepaired.

So let's talk a little bit about why this mechanism is distinctive and first in class. This is where our radar AI platform and novel Mechanistic biology really comes to life.

Speaker #1: And that's the critical insight. The cancer cell has a repair escape route, and we found a way to basically shut it down. We identified that we can degrade ERCC3, excision repair cross-complementation group.

The planned trial includes a dedicated combination cohort evaluating <unk> with his final lactone and again. This was initially identified with our platform and we believe that this combination creates a unique synthetic lethality in these challenging brain tumors.

Panna Sharma: Let's talk a little bit about why this mechanism is distinctive and first in class. This is where our RADR AI platform and novel mechanistic biology really comes to life. The planned trial includes a dedicated combination cohort evaluating STAR-001 with spironolactone, and again, this was initially identified with our platform, and we believe that this combination creates some unique synthetic lethality in these challenging brain tumors. Now, once our drug is activated, when PTGR1 is overexpressed, it induces DNA double-stranded breaks that are lethal to the cancer cell if left unrepaired. That's the critical insight. The cancer cell has a repair escape route, and we found a way to basically shut it down. We identified that we can degrade ERCC3, excision repair cross-complementation group. That's a key helicase in the repair pathway.

Speaker #1: That's a key helicase in the repair pathway. It's a central repair mechanism that's used in some of these very aggressive tumors. Now, we can shut it down by delivering spironolactone.

Speaker #1: And basically, this is how you block the cancer cells from trying to come back. And that's where spironolactone enters the picture. It's brain-penetrant.

Okay.

Now once.

Our drug is activated.

Over <unk> is over expressed it induces DNA double stranded breaks that are lethal to the cancer cell if left unrepaired and thats. The critical insight the cancer cell has a repair escape route and we found a way to basically shut it down.

Speaker #1: It can be orally administered, has a long safety record in adults, and also now in pediatrics. And it degrades the ERCC3 protein through targeted proteosomal degradation. In our preclinical models, we saw ERCC protein levels reduced by at least 50%.

We identified that we can degrade ARCC three excision repair cross Complementation group is a key hela case and the repair pathway central repair mechanism. That's used in some of these very aggressive tumors now we can shut it down by delivering spinal lactone and basically this is how you block.

Speaker #1: And when we actually threw some dosing optimization, we got to even more reduction. And by reducing that ERCC3, we remove the ability for the repair to happen.

Speaker #1: So this is a rationally designed, AI-identified, validated combination that's been validated in the clinic that creates enhanced synthetic lethality—that amplifies the tumor-healing activity of STAR-101.

Sure.

The cancer cells from trying to come back and Thats, where spinal lactone enters the picture its brain penetrate it can be orally administered as a long safety record and adults and also now in pediatrics and degrades the <unk> three protein through targeted Proteus somewhat degradation in our preclinical models.

Panna Sharma: It's a central repair mechanism that's used in some of these very aggressive tumors. Now, we can shut it down by delivering spironolactone. Basically, this is how you block the cancer cells from trying to come back. That's where spironolactone enters the picture. It's brain penetrant, it can be orally administered, it has a long safety record in adults and also now in pediatric, and it degrades the ERCC3 protein through targeted proteasomal degradation. In our preclinical models, we saw ERCC3 protein levels reduced by at least 50%, and actually through some dosing optimization, we got even more reduction. By reducing that ERCC3, we remove the ability for the repair to happen.

Speaker #1: So, I want to underscore several things to make this combination strategy unique. The ERCC was identified and validated through our analysis, not just through traditional screening. The combination partner, spironolactone, is already well-characterized.

Speaker #1: And it de-risked the safety profile of this combination. The mechanism—precision bioactivation—targets with targeted repair pathway inhibition. We believe this represents a first-in-class and unique approach to how to treat these devastating brain cancers.

We saw ARCC protein levels reduced by at least 50% and when we can actually through some dosing optimization, we got even more reduction and by reducing that ARCC three.

Speaker #1: And now that the IND is cleared, Starlight Therapeutics is positioned to move rapidly into the clinic, of course, subject to more funding. Starlight, which is 100% on my Lantern, will have the potential to be another very positive impact on our investors.

<unk> removes the ability for the repair to happen. So this a rationally designed <unk> identified validated combination that's been validated in the clinic that creates enhanced synthetic reality that amplifies the tumor killing activity of startup below one.

Speaker #1: As we monetize this unique asset, monetize the patents, and potentially monetize the PRVs, this computational capability doesn't merely enhance our existing programs—it opens up entirely new therapeutic possibilities as well.

I want to underscore several things that make this combination strategy strategy unique.

Panna Sharma: This is a rationally designed, AI-identified, validated combination that's been validated in the clinic that creates enhanced synthetic lethality that amplifies the tumor killing activity of STAR-001. I want to underscore several things that make this combination strategy unique. The ERCC3 was identified and validated through our analysis, not through just traditional screening. The combination partner, spironolactone, is already well-characterized, and it de-risks the safety profile of this combination. The mechanism, precision bioactivation with targeted repair pathway inhibition, we believe represents a first-in-class and unique approach to how to treat these devastating brain cancers. Now that the IND is cleared, Starlight Therapeutics is positioned to move rapidly into the clinic, of course, subject to more funding.

The <unk> was identified and validated through our analysis not through just traditional screening the combination partners part of Lockdown is already well characterized and de risk. The safety profile of this combination the mechanism precision by activation target with targeted repair pathway inhibition, we believe represents.

Speaker #1: We'll talk about that a little later. In Q1 of 2026, we also received FDA orphan drug designation for soft tissue sarcoma, adding to the existing designations in mantle cell and high-grade B-cell lymphoma.

Speaker #1: We also had a patient in Q4 that represented that we presented clinical data at the 25th Leukemia, Lymphoma, and Myeloma Congress in New York.

A first in class and unique approach to how to treat these devastating brain cancers and now that the IND is cleared Starlight therapeutics is positioned to move rapidly into the clinic of course subject to more funding.

Speaker #1: And we confirmed a complete metabolic response in a heavily pretreated diffuse large B-cell patient who has remained cancer-free since we initially reported this result. LP-34 benefits from composition of matter patents through 2039 across major global markets and also, of course, the orphan drug designation. As we continue to explore LP-284 beyond lymphoma, including as a potential therapeutic for autoimmune disorders such as lupus and SLE, our preclinical data have shown significant potency in reducing clonal B cells—actually CD19- and CD20-positive B cells.

<unk> is 100% on wireless.

The other very positive and our investors as we speak.

Myles this unique asset.

Monetization potential.

Turning to monetize.

Yes.

Now this computational capability doesn't really enhance our existing programs that opens up entirely new therapeutic possibilities as well, we'll talk about that a little later.

Panna Sharma: Starlight, which is 100% owned by Lantern, will have the potential to be another very positive impact on our investors as we monetize this unique asset, monetize the patents, and potentially monetize the PRVs. Now, this computational capability doesn't merely enhance our existing programs, it opens up entirely new therapeutic possibilities as well. We'll talk about that a little later. In Q1 of 2026, we also received FDA orphan drug designation for soft tissue sarcoma, adding to the existing designations in mantle cell and high-grade B-cell lymphoma. We also had a patient in Q4 we presented clinical data at the 25th Lymphoma, Leukemia & Myeloma Congress in New York, and we confirmed a complete metabolic response in a heavily pretreated diffuse large B-cell patient who has remained cancer-free since we initially reported this result.

In Q1 of 2026, we also received FDA orphan drug designation for soft tissue sarcoma.

Speaker #1: And this work could dramatically expand the commercial opportunity for this asset. We're beginning active dialogue to look and seek partners for this unique drug on the back of the compelling Phase 1 data that's being put together and the responses that we're beginning to see.

Adding to the existing debt designations in mantle cell and high grade B cell lymphoma. We also had a patient in Q4 that represent that we presented clinical data at the 25.

Leukemia lymphoma, and myeloma Congress in New York, and we confirmed a complete metabolic response in heavily pretreated diffuse large b cell patient who has remained cancer free since we initially reported this result.

Speaker #1: Now, let me shift to what I believe is becoming an increasingly important value driver for us—one that's more commercial: the RADR AI platform and its commercial opportunities independent of our drug programs.

Speaker #1: Radar integrates 2,300 billion-plus oncology-focused data points, hundreds of advanced machine learning algorithms, and prediction success validated in natural clinical trials not only for ourselves but also for our partners.

L. P 24 benefits from composition of matter patents through 2039 across major global markets and also of course orphan drug designation and we continued to explore LP to 84 beyond lymphoma, including as a potential therapeutic for autoimmune disorders, such as Lucas.

Speaker #1: In early 2026, we initiated an AI Center of Excellence in India to help us grow industrially and focus more on the RADR platform. And with data.ai, giving us the ability to develop capabilities and features around the clock.

Panna Sharma: LP-284 benefits from composition and matter patents through 2039 across major global markets and also of course, the Orphan Drug Designation marks a milestone. We continue to explore LP-284 beyond lymphoma, including as a potential therapeutic for autoimmune disorders such as lupus and SLE, where our preclinical data have showed significant potency in reducing clonal B-cells, actually CD19 and CD20 positive B-cells. This work could dramatically expand the commercial opportunity for this asset. We're beginning active dialogue to look and seek partners for this unique drug on the back of the compelling Phase 1 data that's being put together and the responses that we're beginning to see. Now, let me shift to what I believe is becoming an increasingly important value driver for us and one that's more commercial.

Panna Sharma: LP-284 benefits from composition and matter patents through 2039 across major global markets and also of course, the Orphan Drug Designation marks a milestone. We continue to explore LP-284 beyond lymphoma, including as a potential therapeutic for autoimmune disorders such as lupus and SLE, where our preclinical data have showed significant potency in reducing clonal B-cells, actually CD19 and CD20 positive B-cells. This work could dramatically expand the commercial opportunity for this asset. We're beginning active dialogue to look and seek partners for this unique drug on the back of the compelling phase I data that's being put together and the responses that we're beginning to see. Now, let me shift to what I believe is becoming an increasingly important value driver for us and one that's more commercial.

And SLA, where our preclinical data have shown significant potency and reducing clonal b cells actually <unk> 19, and <unk> 20 positive b cells and this work could be could dramatically expand the commercial opportunity for this asset, whereas beginning active dialogue to look and seek partners for this unique.

Speaker #1: We're beginning to recruit world-class ML talent and also give us additional scalability to support additional biopharma partnerships and feature development. We also continue to lead with BBB, BBB, which holds five of the top 11 positions in the Therapeutic Data Commons.

Drug on the back of the compelling phase one data that's being put together and the responses that we are beginning to see.

Speaker #1: Also, it has been enhanced significantly over the last month or two. And we are also beginning now to commercialize our LBX AI, which is our liquid biopsy AI.

Now, let me shift to what I believe is becoming an increasingly important value driver for us and one that's more commercial radar AI platform and its commercial opportunities independent of our drug programs.

Speaker #1: We've highlighted in our results the amount of money we've put into our programs. Last year, we spent about $1 million across our AI technologies and platforms.

Radar integrates to 300 billion plus oncology focused data points, hundreds and advanced machine learning algorithms and predictions success validated natural clinical trials not only for ourselves, but also for our partners.

Speaker #1: And we're also, at the same time, able to develop what we believe is another key aspect for the future of AI-driven drug development. We're at an inflection point with data.ai.

Panna Sharma: RADR AI platform and its commercial opportunities independent of our drug programs. RADR integrates 200-300 billion-plus oncology-focused data points, hundreds of advanced machine learning algorithms, and prediction success validated in actual clinical trials, not only for ourselves, but also for our partners. In early 2026, we initiated an AI center of excellence in India to help us grow, industrialize, and focus more on the RADR platform and with Zeta.ai, giving us the ability to develop capabilities and features around the clock. We're beginning to recruit world-class ML talent and also give us additional scalability to support additional biopharma partnerships and feature development. We also continue to lead with BBB. BBB, which holds five of the top eleven positions in the Therapeutics Data Commons, also has been enhanced significantly over the last month or two.

In early 'twenty six we initiated a sky center of excellence in India to help us grow industrialized and focus more on the radar platform and with Zeta Dot AI, giving us the ability to develop capabilities and features around the clock.

Speaker #1: Because it's not only an inflection point because the system has now been launched to multiple demo partners, but it's really how science itself will be conducted.

Speaker #1: Identic AI systems that reason, collaborate, and act autonomously—these are poised to become the standard infrastructure for drug discovery and scientific R&D. This is not a question of if, but when.

Beginning to recruit world class in our talent and also give us additional scalability to support additional biopharma partnerships.

And feature development.

We also continued to lead with BBB BBB, which holds five the top 11 positions in the therapeutic data comments.

Speaker #1: Lantern, with data, intends to be a standard-bearer for this kind of shift, especially in rare cancers. Now, think about how most people use AI drug development today.

Also has been enhanced significantly over the last month or two.

Speaker #1: They ask a single model question. They get an answer. They typically do it in concert with a series of engineers and computational biologists. And it's really almost, really, a one-off event.

And we also are beginning now to commercialize our <unk> II, which is our liquid biopsy AI.

We've highlighted in our results the amount of money, we put into all of our programs last year, we spent about $1 million across our AI technologies and platforms and we're also at the same time April.

Speaker #1: They may ask it in parallel. They may ask it several times. They may develop tools to look at the same question. But with Zeta, you're doing it in natural language, and you're getting the facility of doing it as an orchestra in multi-agent architecture.

Panna Sharma: We also are beginning now to commercialize our LBx-AI, which is our liquid biopsy AI. We've highlighted in our results the amount of money we've put into all our programs. Last year, we spent about $1 million across our AI technologies and platforms, and we're also at the same time able to develop what we believe is another key aspect for the future of AI-driven drug development. We're at an inflection point with Zeta.ai, because it's not only inflection point because the system has now been launched to multiple demo partners, but it's really how science itself will be conducted. Agentic AI systems that reason, collaborate, and act autonomously, these are poised to become the standard infrastructure for drug discovery and scientific R&D. This is not a question of if, but when.

To develop what we believe is another key aspect for the future of AI driven drug development.

Speaker #1: We're specialized tools, trained on literature synthesis, pathway analysis, clinical trial design, biomarker identification, molecular feature assessment, novel chemistry generation. We collaborate, challenge assumptions, and cross-validate findings.

We're at an inflection point, where they would say that that AI.

It's not only inflection point because the system has now been launched multiple demo partners, but it's really has science itself will be conducted a jet take AI systems that reason collaborate and act upon us Autonomous fleet. These are poised to become the standard infrastructure.

Speaker #1: All in real time before delivering hardened insights. Many of you seem to have been able to see this in person, and actually see how we've been able to go from ideas to insights to actually potentially powerful new medicinal concepts in under an hour.

For drug discovery and scientific R&D, there is not a question of if but when.

Speaker #1: Now, the true power is not in any single agent, but in their intelligent orchestration—a true AI co-scientist. And we've built that for helping to conquer rare cancers.

<unk> through with Zeta and tends to be the standard bearer for this kind of shift, especially in rare cancers.

Speaker #1: This approach fundamentally inverts the traditional drug development paradigm. Before a single experiment is run, with Zeta, you can rigorously stress-test hypotheses through computational analysis and recursive reasoning—interrogating literature, modeling pathways, analyzing historical trial data, feeding on your own private, unique insights and data, evaluating biomarker strategies, stress-testing medicinal concepts, and looking at molecules against known patient populations.

About how most people use AI direct development today. They ask a single model of question. They get an answer they typically do it in concert with the series a.

Panna Sharma: Lantern, through with Zeta, intends to be the standard bearer for this kind of shift, especially in rare cancers. Now, think about how most people use AI in drug development today. They ask a single model a question, they get an answer, they typically do it in concert with a series of engineers and computational biologists, and it's really almost a one-off event. They may ask it in parallel. They may ask it several times. They may develop tools to look at the same question. With Zeta, you're doing it in natural language, and you're getting the facility of doing it as an orchestra, a multi-agentic architecture, where specialized tools trained on literature synthesis, pathway analysis, clinical trial design, biomarker identification, molecular feature assessment, novel chemistry generation, collaborate, challenge assumptions, and cross-validate findings, all in real time before delivering hardened insights.

Engineers in computational biologists.

And Thats really almost really a one off.

Event.

And they may ask it in parallel to ask May ask it several times, we may develop tools to look at the same question, but with the data youre.

Youre doing it in natural language and Youre getting the facility of doing it as an orchestra and multi Jake Gentex architecture, where specialized tools trained on literature synthesis pathway analysis clinical trial design biomarker identification molecular feature assessment novel Chemistry generation collaborate challenge assumption.

Speaker #1: And then only advancing the most hardened of the ideas. By reducing failed experiments by 80% or 90%, we can allocate precious R&D resources and time to the most promising opportunities and do it faster.

Speaker #1: We can test dozens of hypotheses in parallel, while a lab team would still be designing the first experiment. This platform also creates something fundamentally new: persistent, interactive organizational memory.

And cross validate findings all in real time before delivering hardened insights. Many of you would seem to be able to see this in person and actually see how we've been able to go from ideas.

Speaker #1: Every interaction, every insight, every hypothesis tested is stored and instantly queryable. And also, you generate knowledge graphs. It's like having your own entire scientific advisory group of experts, your full research team, and comprehensive access to questions and answers available 24 hours a day, 7 days a week for any question in your domain.

In science to actually potentially powerful new medicinal concepts in under an hour now.

Now the true power is not any single agent Butner intelligent orchestration, a true AI co scientist and we've built that for helping to conquer rare cancers. This approach fundamentally inverts the traditional drug development paradigm before a single experiment is run with Zurich and rigorously stress test hypotheses through computational analysis and recursive reasoning.

Panna Sharma: Many of you seem to be able to see this in person and actually see how we've been able to go from ideas to insights to actually potentially powerful new medicinal concepts in under an hour. Now, the true power is not in any single agent, but in their intelligent orchestration, a true AI co-scientist, and we've built that for helping to conquer rare cancers. This approach fundamentally inverts the traditional drug development paradigm. Before a single experiment is run, withZeta.ai can rigorously stress test hypotheses through computational analysis and recursive reasoning, interrogating literature, modeling pathways, analyzing historical trial data, feeding on your own private, unique insights and data, evaluating biomarker strategies, stress testing medicinal concepts, looking at molecules against known patient populations, and then only advancing the most hardened of the ideas.

Speaker #1: This is the future of scientific R&D, and it's already arriving now. Since late 2025, with Zeta, there has been an active demo and beta testing with over 25 biotech companies, cancer research centers, biopharma, even some CROs and investment banks.

Interrogating literature modeling pathways analyzing historical trial data feeding on your own private unique insights and data.

Speaker #1: We're generating significant early engagement that validates both demand and differentiation. We've designed with Zeta a multi-tiered commercial architecture that serves the entire drug development ecosystem and have an accessible academic tier that brings early-career researchers and university teams into the platform.

Calibrating biomarker strategies stress testing medicinal concepts looking at molecules against known patient populations and then only advancing the most heartened with the ideas by reducing failed experiments by 80%, 90%, we can allocate precious R&D resources and time to the most promising opportunities and do it faster.

Speaker #1: And also, individual subscriptions, institutional licenses—and they'll continue to help validate the platform and create the network effect, which makes Zeta increasingly valuable. We'll have a professional tier that serves emerging biotech and mid-sized developers through usage-based licensing.

Can test dozens of hypotheses in parallel while lab team would still be designing the first experiment.

Panna Sharma: By reducing failed experiments by 80% or 90%, we can allocate precious R&D resources and time to the most promising opportunities and do it faster. We can test dozens of hypotheses in parallel while lab team would still be designing the first experiment. This platform also creates something fundamentally new, a persistent interactive organizational memory. Every interaction, every insight, every hypothesis tested is stored and instantly queryable. You also generate knowledge graphs. It's like having your own entire scientific advisory group of experts, your full research team, and comprehensive access to questions and answers available 24 hours a day, 7 days a week for any question in your domain. This is the future of scientific R&D, and it's already arriving now.

This platform also creates something fundamentally new a persistent interactive organizational memory every interaction every insight every hypothesis tested is stored and instantly craveable.

Speaker #1: And then we'll also have an enterprise-level, large pharma, where they can deploy it in their own private clouds and also add to their proprietary knowledge graphs and deepen their internal data integration.

And also you generate knowledge graphs, it's like having your own entire scientific advisory group of experts, who are full research team and comprehensive access to questions and answers available 24 hours a day seven days a week for any question in your domain. This is the future scientific R&D and it's already arriving now.

Speaker #1: And perhaps even deploy customized ontologies and use it for unique configurations. So this will be a multi-tiered commercial architecture. And we believe it can also be used over time in multiple other disease areas beyond cancer.

Speaker #1: The beauty of this model is the natural progression. Researchers discover with Zeta in an academic setting, and they'll carry that experience as they continue deployment.

Since late 'twenty five.

<unk> Zeta has been active demo in beta testing with over 25 biotech companies cancer research centers Biopharma consultants.

Speaker #1: At every level, the platform gets smarter as more users and data flow through the system. And we believe that this global rare disease and rare cancer therapeutic market is projected to exceed about $300 billion by 2028.

A biopharma consultants and even some crows and investment banks, where we're generating significant early engagement that validates both demand and differentiation. We've designed with Zeta with a multi tiered commercial architecture that serves the entire drug development ecosystem and at the foundation will have accessible academic tier that brings early career researchers.

Panna Sharma: Since late 2025, withZeta has been in active demo and beta testing with over 25 biotech companies, cancer research centers, biopharma consultants, biopharma consulting firms, and even some CROs and investment banks, where we're generating significant early engagement that validates both demand and differentiation. We've designed withZeta with a multi-tiered commercial architecture that serves the entire drug development ecosystem. At the foundation, we'll have accessible academic tier that brings early career researchers and university teams into the platform, and also individual subscriptions, institutional licenses, and they'll continue to help validate the platform and create the network effect, which makes Zeta increasingly valuable.

Speaker #1: And the broader AI-enabled drug discovery market represents, we believe, an additional $20 to $50 billion long-term opportunity with Zeta and our multi-agentic AI architecture.

<unk> and University of teams into the platform and also individual subscriptions institutionalizes licenses and they'll continue to help validate the platform and create the network effect, which makes it increasingly valuable.

Speaker #1: Our longer-term plan is to scale with Zeta beyond rare cancers and into other complex therapeutic categories, each presenting the same fundamental problems: fragmented knowledge, slow experimental cycles, and extensive failures. We believe this represents a potential near-term market opportunity of $20 to $50 billion, and that with Zeta.ai as our first agentic commercial product, we are designed to capture a meaningful share of that.

Professional tier the emerging biotech and mid sized developers through usage based licensing and then we'll also have an enterprise level for large pharma, where they can deploy in their own private clouds and also add to their proprietary knowledge graphs and deepen their internal data integration and perhaps even deploy customized ontologies.

Speaker #1: When you connect the dots—clinically validated RADR, commercially ready AI modules, and a multi-tiered revenue model—you see a business model that extends well beyond our pipeline.

Panna Sharma: We'll have a professional tier that serves emerging biotech and mid-sized developers through usage-based licensing, and then we'll also have an enterprise level for large pharma, where they can deploy in their own private clouds and also add to their proprietary knowledge graphs, deepen their internal data integration, and perhaps even deploy customized ontologies and use it for unique configurations. This will be a multi-tiered commercial architecture, and we believe it can also be used over time in multiple other disease areas beyond cancer. The beauty of this model is the natural progression researchers discover with Zeta in an academic setting, and they'll carry that experience as they continue deployment.

And use it for unique configurations.

Speaker #1: We believe our AI tools and services represent several hundred million dollars in standalone market potential, and that's a powerful complement to our drug development strategy.

So this will be a multi tiered commercial architecture and we believe it can also be used.

Speaker #1: So now I'll turn the call over to David Margrave to discuss our financials and our other key metrics. David?

Over time in multiple other disease areas beyond cancer. The beauty of this model is the natural progression researchers discover with Zeta and in academic settings, and we'll carry that experience as they continue deployment at every level of platform get smarter as more users and data flow through the system and we believe that this global rare disease.

Speaker #2: Thank you, Panna. And good afternoon, everyone. I'll now share some financial highlights from our fourth quarter and full year ended December 31, 2025. I'll start with a review of the fourth quarter.

<unk> cancer therapeutic market is projected to exceed about 300 billion by 2028.

Speaker #2: Our general and administrative expenses were approximately $1.5 million for the fourth quarter of 2025, compared to approximately $1.6 million in the prior year period.

And the broader AI enabled drug discovery market represents we believe an additional $20 billion to $50 billion long term opportunity for which data and our multi genic AI architecture, our longer term plan is to scale with zeta beyond rare cancers.

Panna Sharma: At every level, the platform gets smarter as more users and data flow through the system, and we believe that this global rare disease and rare cancers therapeutic market is projected to exceed about $300 billion by 2028. The broader AI-enabled drug discovery market represents, we believe, an additional $20 to 50 billion long-term opportunity for withZeta.ai and our multi-agentic AI architecture. Our longer-term plan is to scale withZeta.ai beyond rare cancers and into other complex therapeutic categories, each presenting the same fundamental problems of fragmented knowledge, slow experimental cycles, expensive failures.

Speaker #2: R&D expenses were approximately $2.7 million for the fourth quarter of 2025, compared to approximately $4.3 million in the fourth quarter of 2024. We recorded a net loss of approximately $4.1 million for the fourth quarter of 2025, or $0.36 per share, compared to a net loss of approximately $5.9 million, or $0.54 per share, for the fourth quarter of 2024.

And into other complex therapeutic.

Categories.

Each presenting the same fundamental problems of fragmented knowledge slow experimental cycles expensive failures and we believe this represents a potential near term market opportunity of $20 to $50 billion and that was data that AI is our first egencia commercial product designed to capture a meaningful share of that when you connect the dots clinically validated radar commercially ready.

Speaker #2: For the full year 2025, our R&D expenses were approximately $11.5 million, down from approximately $16.1 million in 2024. This decrease was primarily attributable to an approximate $4.0 million reduction in research studies and materials relating to the conduct and support of our clinical trials.

Panna Sharma: We believe this represents a potential near-term market opportunity of $20 to 50 billion, and that withZeta.ai is our first agentic commercial product designed to capture a meaningful share of that. When you connect the dots, clinically validated RADR, commercially ready AI modules, and a multi-tiered revenue model, you see a business model that extends well beyond our pipeline. We believe our AI tools and services represent $several hundred million in stand-alone market potential, and that's a powerful complement to our drug development strategy. Now I'll turn the call over to David Margrave to discuss our financials and our other key metrics. David?

Add modules and a multi tiered revenue model.

You see a business model that extends well beyond our pipeline, we believe our AI tools and services represents several hundred million dollars in standalone market potential and that's a powerful complement to our drug development strategy.

So now I'll turn the call over to David Margaret to discuss our financials and other key metrics David.

Thank you Paula and good afternoon, everyone.

Speaker #2: Also, in part due to a $0.6 million decrease in payroll and compensation expenses, and an $81,000 decrease in consulting expenses. Our general and administrative expenses for the full year 2025 were approximately $6.5 million, up slightly from approximately $6.1 million for 2024.

Now I'll share some financial highlights from our fourth quarter and full year ended December 31 2025.

I'll start with a review of the fourth quarter.

David Margrave: Thank you, Panna, and good afternoon, everyone. I'll now share some financial highlights from our Q4 and full year ended December 31, 2025. I'll start with a review of the Q4. Our general and administrative expenses were approximately $1.5 million for the Q4 of 2025, compared to approximately $1.6 million in the prior year period. R&D expenses were approximately $2.7 million for the Q4 of 2025, compared to approximately $4.3 million in the Q4 of 2024. We recorded a net loss of approximately $4.1 million for the Q4 of 2025, or $0.36 per share, compared to a net loss of approximately $5.9 million or $0.54 per share for the Q4 of 2024.

Our general and administrative expenses were approximately $1 5 million.

For the fourth quarter of 2025% compared to approximately $1 6 million in the prior year period.

Speaker #2: The increase was primarily attributable to increases in business development and investor relations expenditures of approximately $436,000, increases in patent costs of approximately $55,000, and an increase in corporate insurance of approximately $51,000.

R&D expenses were approximately $2 7 million for the fourth quarter of 2025.

Compared to approximately $4 3 million in the fourth quarter of 2024.

We recorded a net loss of approximately $4 1 million for the fourth quarter of 2025 or 36 per share.

Speaker #2: Our R&D expenses continue to exceed our G&A expenses by a strong margin, reflecting our focus on advancing our product candidates and pipeline. Net loss for the full year 2025 was approximately $17.1 million, or $1.57 per share, compared to approximately $20.8 million, or $1.93 per share, for 2024.

Compared to a net loss of approximately $5 9 million or <unk> 54 per share for the fourth quarter of 2024.

For the full year 2025, our R&D expenses were approximately $11 $5 million down from approximately $16 $1 million in 2024.

Speaker #2: Our loss from operations in the 2025 calendar year was partially offset by interest income and other income, net, totaling approximately $0.9 million. Our cash position, which includes cash equivalents and marketable securities, was approximately $10.1 million as of December 31, 2025.

This decrease was primarily attributable to an approximate $4 million reduction in research studies and materials relating to the conduct in support of our clinical trials.

David Margrave: For the full year 2025, our R&D expenses were approximately $11.5 million, down from approximately $16.1 million in 2024. This decrease was primarily attributable to an approximate $4 million reduction in research studies and materials relating to the conduct and support of our clinical trials. Also, in part due to a $0.6 million decrease in payroll and compensation expenses and an $81,000 decrease in consulting expenses. Our general and administrative expenses for the full year 2025 were approximately $6.5 million, up slightly from approximately $6.1 million for 2024.

Also in part due to us zero point $6 million decrease in payroll and compensation expenses.

And in $81000 decrease in consulting expenses.

Speaker #2: Based on our currently anticipated expenditures and capital commitments, we believe that our existing cash, cash equivalents, and marketable securities as of the date of this call will enable us to fund our anticipated operating expenses and capital expenditure requirements until at least approximately late July 2026 to mid-September 2026.

Our general and administrative expenses for the full year 2025.

Were approximately $6 5 million.

Up slightly from approximately $6 1 million for 2024.

The increase was primarily attributable to increases in business development and Investor relations expenditures of approximately $436000 increases in patent costs of approximately $55000.

Speaker #2: We will need to raise substantial additional funding in the near future, and we are actively evaluating and pursuing potential funding alternatives. As of December 31, 2025, we had 11,254,697 shares of common stock outstanding.

David Margrave: The increase was primarily attributable to increases in business development and investor relations expenditures of approximately $436,000, increases in patent costs of approximately $55,000, and an increase in corporate insurance of approximately $51,000. Our R&D expenses continue to exceed our G&A expenses by a strong margin, reflecting our focus on advancing our product candidates and pipeline. Net loss for the full year of 2025 was approximately $17.1 million, or $1.57 per share, compared to approximately $20.8 million or $1.93 per share for 2024. Our loss from operations in the 2025 calendar year was partially offset by interest income and other income net, totaling approximately $0.9 million.

And and an increase in corporate insurance of approximately $51000.

Our R&D expenses continued to exceed our G&A expenses by a strong margin, reflecting our focus on advancing our product candidates and pipeline.

Speaker #2: No outstanding warrants to purchase shares, and outstanding options to purchase 1,296,126 shares. These options, combined with our outstanding shares of common stock, give us a total fully diluted shares outstanding of approximately 12.6 million shares as of December 31, 2025.

Net loss for the full year of 2025 was approximately $17 1 million or.

Our $1 57 per share.

Compared to approximately $28 million.

A $1 93.

Per share for 2024.

Speaker #2: I'll now turn the call back over to Panna for an update on some of our development programs. Panna?

Our loss from operations in the 2025 calendar year was partially offset by interest income and other income net totaling approximately zero point $9 million.

Speaker #3: Thanks, David. So our leadership in the innovative use of AI and machine learning to transform costs and timelines in the development of precision oncology therapies has led us to bring three molecules into clinical trials with teams, costs, and efficiency that are almost unheard of in oncology biotech.

Our cash position.

Which includes cash equivalents in marketable securities was approximately $10 1 million as of December 31, 2025.

Based on our currently anticipated expenditures in capital commitments.

David Margrave: Our cash position, which includes cash equivalents and marketable securities, was approximately $10.1 million as of 31 December 2025. Based on our currently anticipated expenditures and capital commitments, we believe that our existing cash equivalents, and marketable securities as of the date of this call will enable us to fund our anticipated operating expenses and capital expenditure requirements until at least approximately late July 2026 to mid-September 2026. We will need to raise substantial additional funding in the near future, and we are actively evaluating and pursuing potential funding alternatives. As of 31 December 2025, we had 11,254,697 shares of common stock outstanding. No outstanding warrants to purchase shares, and outstanding options to purchase 1,296,126 shares.

Speaker #3: And even with that, we're actually seeing massive year-over-year improvements in our spend and the output that we're seeing. During 2025, we achieved our goal of integrating generative AI to transform our platform into a system of autonomous, agentic co-scientists.

We believe that our existing cash cash equivalents and marketable securities as of the date of this call will enable us to fund our anticipated operating expenses and capital expenditure expenditure requirements.

Until at least approximately late July 2026 to mid September 2026.

Speaker #3: And put together a model that we believe can be the future for how scientists create value. So, looking ahead, how do we expect to see value creation catalysts?

We will need to raise substantial additional funding in the near future.

And we are actively evaluating and pursuing potential funding alternatives.

Speaker #3: We have a Type C meeting coming up with the FDA on focusing enrollment in the Harmonic trial on EGFR exon 21 L858R patients. These are patients that do very poorly, and we've seen some meaningful improvement as a result of being dosed with our drug in combination with chemo, doubly.

As of December 31, 2025, we had $11 million 254697 shares of common stock outstanding.

No outstanding warrants to purchase shares.

And outstanding options to purchase $1 million 296126 shares.

Speaker #3: We've also seen the same in extending LP-300 treatment cycles, and we believe that the current environment, because of the changes in standard of care, will require converting the current design to a single-arm Simon II stage design.

These options combined with our outstanding shares of common stock gives us a total fully diluted shares outstanding of approximately $12 6 million shares as of December 31, 2025.

Speaker #3: We'll have some data around the 858R patient population in the near future. Our planned investigator-sponsored trial with LP-300 in combination with osimertinib and chemo in frontline, which would specifically drive our mutations, is also advancing.

David Margrave: These options, combined with our outstanding shares of common stock, give us a total fully diluted shares outstanding of approximately 12.6 million shares as of December 31, 2025. I'll now turn the call back over to Panna for an update on some of our development programs. Panna?

I'll now turn the call back over to Paul for an update on some of our development programs Anna.

Thanks, David.

Yeah.

So our leadership in the innovative use of AI and machine learning to transform costs and timelines and the development of precision oncology therapies has allowed us to bring three molecules into clinical trials with teams cost and efficiency that are almost unheard of and.

Speaker #3: We also have planned initiation of an LP184 phase trial in bladder cancer in Denmark, which is paid for by the Danish government and the Danish cancer research group.

Panna Sharma: Thanks, David. Our leadership in the innovative use of AI and machine learning to transform costs and timelines in the development of precision oncology therapies has allowed us to bring three molecules into clinical trials with teams, costs, and efficiency that are almost unheard of in oncology biotech. Even that, we're actually seeing massive year-over-year improvements in our spend and in the output that we're seeing. During 2025, we achieved our goal of integrating generative AI to transform our platform into a system of autonomous agentic co-scientists and put together a model that we believe can be the future for how scientists create value. Looking ahead, how do we expect to see value creation catalysts? We have a Type C meeting coming up with the FDA on focusing enrollment in the Harmonic trial on EGFR Exon 21 L858R patients.

<unk> biotech.

And even that we're actually seeing massive year over year improvements in our spend and in the output that we're seeing.

Speaker #3: We expect to start that for pTGR1-overexpressing bladder cancers, the DNA damage repair mutations. We also have planned initiation, again, subject to funding, of our LP184 Phase 1B/2 in TNBC and in CNS cancers as well.

During 2025, we achieved our goal of integrating generative AI to transform our platform into a system of autonomous agenda co scientists and put together.

Speaker #3: Additionally, we'll have a major launch of our WIDZETA platform at AACR coming up next month. We'll be converting a lot of beta engagements to commercial partnerships and actually also launching the full multi-tiered subscription offering.

A model that we believe can be future for how scientist create value.

So looking ahead, how do we expect to see value creation catalysts.

We had a type C meeting coming up with the FDA on.

Focusing enrollment and the harmonic trial on Egfr exon 21 858, our patients. These are patients that do very poorly and we've seen some meaningful improvement as a result of being dose with our drug in combination.

Speaker #3: We'll also be pursuing additional funding, including potential grant revenue, to fund planned operations and clinical advancement of our precision oncology trials. We're not just building better tools for ourselves; we're fundamentally reimagining what's possible in precision oncology and building tools that the entire community can actually use.

With the chemo doublet.

So seeing the same.

Panna Sharma: These are patients that do very poorly, and we've seen some meaningful improvement as a result of being dosed with our drug in combination with the chemo doublet. We've also seen the same in extending LP-300 treatment cycles, and we believe that the current environment, because of the changes in standard of care, really require converting the current design to a single-arm Simon two-stage design. We'll have some data around the L858R patient population in the near future. Our planned investigator-sponsored trial with LP-300 in combination with osimertinib in chemo in front line with specific driver mutations is also advancing. We also have planned initiation of an LP-184 phase, an LP-184 trial in bladder cancer in Denmark, which is paid for by the Danish government and the Danish Cancer Society.

Speaker #3: And as we continue this journey, our agentic RADR platform positions us at the forefront of an entirely new paradigm in drug development—one where AI doesn't merely assist human researchers, but actively drives drug discovery forward through autonomous, continuous learning and insights that can be tested in labs and deployed into the clinic and for patients.

In extending L. P 300 treatment cycles.

And we believe that the current environment because of the changes in standard of care really required converting the current design to a single arm Simon two stage design.

We will have some data around the 858, our patient population in the near future.

Speaker #3: So the golden age of AI in medicine isn't just beginning; it's accelerating exponentially. We've seen a lot of activity in the past four to six months.

Our planned investigator sponsored trial with <unk> 300 in combination with.

With <unk>.

Speaker #3: The intelligent, always-on symphony is actually here. Cancer patients, especially rare cancer patients, can't wait another 50 years for the typical 50 years of progress that we've seen.

In chemo frontline with specific driver mutations is also advancing.

We also have planned initiation of NLP 184 phase.

Speaker #3: And we believe that this next 50 years of progress can happen in the next five. And it's something we believe very strongly. AI is going to accelerate the development and the use of knowledge in a way that we haven't seen in medicine.

<unk> hundred 84 trial in bladder cancer in Denmark, which is paid for by the Danish government and the Danish cancer.

Research group.

We expect to start that for <unk> over expressing bladder cancer is the DNA damage repair mutations.

Speaker #3: And as we advance into 2026, we're laser-focused on executing our dual-engine strategy and advancing our clinical assets through key inflection points and then out-licensing or partnering them, while simultaneously scaling our AI platform for commercial deployment.

We also have planned initiation again subject to funding of our LP 184 phase, one b, two and CNBC and CNS cancers as well.

Panna Sharma: We expect to start that for PTGR1 overexpressing bladder cancers, the DNA damage repair mutations. We also have planned initiation, again, subject to funding, of our LP-184 phase 1b/2 in TNBC and in CNS cancers as well. Additionally, we'll have a major launch of our withZeta.ai platform at AACR coming up next month, and we'll be converting a lot of beta engagements to commercial partnerships and actually also launch the full multi-tiered subscription offering. We'll also be pursuing additional funding, including potential grant revenue to fund planned operations and clinical advancement of our precision oncology trials. We're not just building better tools for ourselves, we're fundamentally reimagining what's possible in precision oncology and building tools that the entire community can actually use.

Panna Sharma: We expect to start that for PTGR1 overexpressing bladder cancers, the DNA damage repair mutations. We also have planned initiation, again, subject to funding, of our LP-184 phase Ib/2 in TNBC and in CNS cancers as well. Additionally, we'll have a major launch of our withZeta.ai platform at AACR coming up next month, and we'll be converting a lot of beta engagements to commercial partnerships and actually also launch the full multi-tiered subscription offering. We'll also be pursuing additional funding, including potential grant revenue to fund planned operations and clinical advancement of our precision oncology trials. We're not just building better tools for ourselves, we're fundamentally reimagining what's possible in precision oncology and building tools that the entire community can actually use.

Speaker #3: Each clinical milestone validates our AI platform's predictive power, while every platform enhancement accelerates our pipeline and creates new partnership opportunities. Also, now with WIDZETA.AI, we believe we're setting the standard for how multi-agentic tools and AI systems can be used in drug development, and we're bringing that into the commercial setting. We see multiple paths to create value using that platform.

Additionally, we will have a major launch of our <unk> Zeta platform at ACR coming up.

Next month.

And we will be converting a lot of beta engagements to commercial partnerships and actually also launch the full multi tiered subscription offering.

We will also be pursuing additional funding, including potential grant revenue to fund planned operations and clinical advancement of our precision oncology trials.

Speaker #3: We're not just building better tools; we believe we're fundamentally reimagining what's possible in the timeline and capabilities of precision oncology. We're building it to be the standard that, hopefully, the rest of the industry also follows.

Not just building building better tools for ourselves, we're fundamentally re imagining what's possible in precision oncology and building tools that the entire community can actually use.

Speaker #3: I want to thank our exceptional team, our partners, and our shareholders for your continued support, and also our team internally for helping put today's call together.

And as we continue this journey, our <unk> radar platform positions us to forefront of an entirely new paradigm in drug development, one way or AI doesn't really assist human researchers, but actively drives drug discovery forward through autonomous continuous learning and insights that can be tested and labs and deployed into the clinic.

Speaker #3: So thank you, and I hope that we can continue improving outcomes for cancer patients while also transforming the economics of drug development. If you'd like to ask any questions, you can do so in one of two ways.

Panna Sharma: As we continue this journey, our agentic RADR platform positions us at the forefront of an entirely new paradigm in drug development, one where AI doesn't merely assist human researchers, but actively drives drug discovery forward through autonomous continuous learning and insights that can be tested in labs and deployed into the clinic and for patients. The golden age of AI in medicine isn't just beginning, it's accelerating exponentially. We've seen a lot of activity in the past 4 to 6 months. The intelligent always on symphony is actually here. Cancer patients, especially rare cancer patients, can't wait another 50 years for the typical 50 years of progress that we've seen, and we believe that this next 50 years of progress could happen in the next 5.

Speaker #3: You can type your question using the QA tool, and we'll get back to you shortly, or you can send us an email at investor.lanternpharma and we'll get back to you with any questions that you might have.

And for patients.

So the Golden age of AI Medicine isn't just beginning and so accelerating exponentially we've seen a lot of activity in the past four to six months the intelligent always on on Symphony is actually here.

Speaker #3: Thank you, everyone, for your time this afternoon.

Cancer patients, especially rare cancer patients can't wait another 50 years for the typical 50 years of progress we've seen and we believe that this next 50 years of progress can happen in the next five.

And this is something we believe very strongly that AI is going to accelerate the development and the use of knowledge.

Way that we haven't seen in medicine.

As we advance into 2026, we're laser focused on executing our dual engine strategy advancing our clinical assets through key inflection points, and then out licensing or partnering them, while simultaneously scaling our AI platform for commercial deployment, each clinical milestone validates our AI platforms predictive power while every plant.

Panna Sharma: This is something we believe very strongly, that AI is gonna accelerate the development and the use of knowledge in a way that we haven't seen in medicine. As we advance into 2026, we're laser focused on executing our dual engine strategy, advancing our clinical assets through key inflection points, and then out-licensing or partnering them while simultaneously scaling our AI platform for commercial deployment. Each clinical milestone validates our AI platform's predictive power, while every platform enhancement accelerates our pipeline and creates new partnership opportunities. Also, now with Zeta.ai, we believe we're setting the standard for how multi-agentic tools and AI systems can be used in drug development, and we're bringing that into the commercial setting, and we see multiple paths to create value using that platform.

<unk> enhancement.

<unk> accelerates, our pipeline and creates new partnership opportunities.

Also now with data and AI, we believe we're setting the standard for how multi agent tools and AI systems can be used in drug development, and we're bringing that into the commercial setting.

And we see multiple paths to create value using that platform.

It's building better tools, we believe were fundamentally re imagining what's possible in the timeline and capabilities of precision oncology. We are building it to be the standard hopefully the rest of the industry also follows I want to thank our exceptional team our partners and our shareholders for your continued support and also our team internally for helping put today's call together.

Panna Sharma: We're not just building better tools, we believe we're fundamentally reimagining what's possible in the timeline and capabilities of precision oncology, and we're building it to be the standard that hopefully the rest of the industry also follows. I wanna thank our exceptional team, our partners, and our shareholders for your continued support, and also our team internally for helping put today's call together. Thank you, and I hope that we can continue improving outcomes for cancer patients while also transforming the economics of drug development. If you'd like to ask any questions, you can do so in one of two ways. You can type your question using the QA tool, and we'll get back to you shortly, or you can send us an email to investor at Lantern Pharma, and we'll get back to you with any questions that you might have.

So thank you I hope that we can continue improving outcomes for cancer patients.

Transforming the economics of drug development.

If you'd like to ask any questions you can do so in one of two ways. You can type your question using the QA tool and we'll get back to you shortly or you can send us an E mail to investor at Lantern pharma and we will get back to you with any questions that you might have.

Thank you everyone for your time this afternoon.

Thank you very much.

Panna Sharma: Thank you everyone for your time this afternoon. Thank you very much.

Q4 2025 Lantern Pharma Inc Earnings Call

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