LP-300 Lung Cancer Drug Shows Deepening PFS Benefit, Durable Responses in Phase 2 HARMONIC Trial
LTRN has more than doubled off its 52-week low of $1.11 on light trading volume (0.3× avg).
Summary
Lantern Pharma reported positive Phase 2 HARMONIC trial data for its LP-300 drug in EGFR Exon 21 L858R lung cancer. The data shows a median progression-free survival (PFS) of 8.9 months, with durable responses extending beyond two years. Over 70% of patients experienced tumor reduction and a 77% clinical benefit rate, with no clinically meaningful toxicity beyond chemotherapy. This strong clinical update follows favorable FDA feedback on the HARMONIC trial protocol received yesterday. Given the company's recent going concern warning and dilutive capital raises, this positive data is critical for its future prospects and could significantly impact its valuation.
At the time of this announcement, LTRN was trading at $3.84 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $42.3M. The 52-week trading range was $1.11 to $5.74. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.