BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The lockup period of Lantern Pharma Inc. (LTRN) ends Tuesday, i.e., on December 8, 2020.
Lantern Pharma is a clinical-stage biopharmaceutical company that uses its proprietary artificial intelligence (A.I) platform, RADR, to transform cancer drug discovery and development.
There are couple of challenges in the current oncology drug development like the very high cost, which comes in at an average of over $1 billion per drug, and a very low success rate, say just 3.4%.
Lantern's A.I. platform helps to predict drug outcome and drug response using a depth of interrelated biomarker and clinical data, solving unmet needs and creating opportunities in personalizing cancer therapy.
The company has three compounds in development:
-- LP-100, which is in a phase II trial for the treatment of metastatic, hormone-refractory prostate cancer, out-licensed to Denmark-based Allarity Therapeutics.
-- LP-300 which is preparing to enter into a phase II trial for never smoking non-small cell lung cancer (NSCLC) as a combination therapy in 2021 and
-- LP-184, which is in preclinical development, for genomically defined cancers, including prostate, pancreatic and glioblastoma multiforme (GBM).
The company made its debut on The Nasdaq Global Select Market on June 11, 2020, offering its shares at a price of $15 each.
As mentioned above, the 180 day lockup period expires tomorrow.
LTRN opened the first day of trading (i.e. June 11, 2020) at $14.80 and closed at $14.95 that day. The stock has thus far hit a low of $10.40 and a high of $24.84.
LTRN closed Monday's trading at $15.36, down 0.13%
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