On July 29, 2021, Lantern Pharma, Inc. (NASDAQ:LTRN) announced second quarter 2021 financial and operational results, filed its form 10-Q with the SEC and hosted a conference call to review the quarter's accomplishments. Lantern generated no revenues in the second quarter and expended $2.48 million on operations during the three month period producing a net loss of ($2.32) million, or ($0.21) per share. Cash burn in the second quarter was ($1.7) million, up markedly from the ($490,000) consumed in the prior year period. Lantern reacquired global rights to its candidate LP-100 from Allarity Therapeutics, publicized in a press release on July 27, 2021. The candidate is in Phase II trials that enrolled 9 out of 27 targeted subjects.

A pioneering new clinical trial on a drug that could potentially help millions of men with prostate cancer, is under way in Derry. Tumour samples from men being treated locally are being collated to test the drug's effectiveness at the Clinical Transitional Research and Innovation Centre (C-TRIC), labs on the Altnagelvin Hospital site. The new trials are the result of a partnership with American pharmaceutical company Lantern Pharma and the PRAISE (prostate cancer artificial intelligence study using ex vivo models) trial is using artificial intelligence to test a cancer drug called LP-184 to predict which types of tumours are sensitive to it. The company said the groundbreaking work, which is partially funded by Invest NI, does not involve human or animals trials due to the use of AI. The new project will help guide future cancer research and clinical trials and early indications suggest there could also be benefits for research into the treatment of ovarian and liver cancer.

A pioneering new clinical trial on a drug that could potentially help millions of men with prostate cancer, is under way in Derry. Tumour samples from men being treated locally are being collated to test the drug's effectiveness at the Clinical Transitional Research and Innovation Centre (C-TRIC), labs on the Altnagelvin Hospital site. The new trials are the result of a partnership with American pharmaceutical company Lantern Pharma and the PRAISE (prostate cancer artificial intelligence study using ex vivo models) trial is using artificial intelligence to test a cancer drug called LP-184 to predict which types of tumours are sensitive to it. The company said the groundbreaking work, which is partially funded by Invest NI, does not involve human or animals trials due to the use of AI. The new project will help guide future cancer research and clinical trials and early indications suggest there could also be benefits for research into the treatment of ovarian and liver cancer.