Lantern Pharma Reports Q1 2025 Financial Results with Reduced Net Loss

Lantern Pharma Inc. reported its financial results for the first quarter of 2025, revealing a net loss of approximately $4.54 million, a decrease from a net loss of $5.44 million in the same period of 2024. The company's total operating expenses for the quarter were approximately $4.77 million, down from $5.73 million year-over-year. This reduction in expenses was primarily driven by a significant decrease in research and development costs, which fell to $3.26 million from $4.25 million, reflecting a strategic shift in resource allocation and operational efficiency.

The company's cash and cash equivalents stood at $6.38 million as of March 31, 2025, down from $7.51 million at the end of 2024. Marketable securities also decreased to $13.34 million from $16.50 million. Lantern Pharma's total assets were reported at $21.10 million, a decline from $25.57 million at the end of the previous fiscal year. The decrease in cash and marketable securities is attributed to ongoing operational expenditures and the need for funding to support clinical trials and research initiatives.

In terms of strategic developments, Lantern Pharma continues to advance its clinical programs, including three lead drug candidates: LP-300, LP-184, and LP-284. The company has also established a wholly-owned subsidiary, Starlight Therapeutics, to focus on the development of LP-184 for central nervous system and brain cancer indications. The RADR® platform, which utilizes artificial intelligence to enhance drug discovery and development, is central to the company's strategy, with nearly 200 billion data points being analyzed to identify potential drug candidates and patient populations.

Operationally, Lantern Pharma reported a slight increase in general and administrative expenses, which rose to $1.51 million from $1.48 million, primarily due to higher professional fees and salaries. The company’s employee headcount remains stable, with no significant changes reported. Lantern Pharma's focus on reducing costs while advancing its clinical pipeline reflects a commitment to maintaining operational efficiency amid ongoing development efforts.

Looking ahead, Lantern Pharma anticipates continued operating losses as it invests in the development of its drug candidates and seeks regulatory approvals. The company plans to explore additional funding options, including capital raises and grant applications, to support its operations over the next 12 months. Management remains optimistic about the potential of its drug candidates and the RADR® platform to transform oncology drug development, although they acknowledge the need for substantial additional funding to sustain their initiatives.