2023-06-12 13:44:30 ET
Lantern Pharma ( NASDAQ: LTRN ) said the US Food and Drug Administration has cleared the company to begin Phase 1 testing of its drug candidate LP-184 for the treatment of cancerous solid tumors.
Shares of Lantern were up 7% at $5.75 at 1:30 p.m. ET following the news.
Lantern said it intends to launch a P1A clinical trial for the drug this quarter, with completion expected during the first half of 2024. The trial will evaluate tolerability and safety of the drug in varying doses in patients with advanced pancreatic cancer, recurrent high-grade gliomas/glioblastoma, metastatic brain and central nervous system cancers, and other solid tumors with DNA damage response deficiencies.
LP-184 has already received orphan drug status for pancreatic cancer, malignant gliomas, and atypical teratoid rhabdoid, or ATRT, tumors. It's also been granted rare pediatric disease designation for ATRT tumors.
Development of the drug for brain and CNS cancers will be overseen by Lantern subsidiary Starlight Therapeutics, the company said.
More on Lantern:
Lantern Pharma ( LTRN ) Investor Presentation - Slideshow
Lantern Pharma to get US patent linked to potential blood cancer drug LP-284
Lantern forms unit Starlight focused on CNS disorders, brain cancers
For further details see:
Lantern Pharma gets FDA clearance to begin P1 testing for LP-184