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DALLAS - Lantern Pharma Inc. (NASDAQ:LTRN), an AI-driven oncology drug development company with a current market capitalization of $45.67 million, announced Monday the appointment of Lee T. Schalop, MD, to its Board of Directors. The company’s stock, currently trading at $4.24, has shown strong momentum with an 11.74% gain over the past week.
Schalop brings over 20 years of experience in biotechnology leadership and financial markets, with specialized expertise in precision neurooncology. He co-founded Oncoceutics, Inc., which developed therapies for brain cancer and was acquired by Chimerix Inc. for $450 million in January 2021. Following the acquisition, Schalop served as a Board Observer at Chimerix until its subsequent purchase by Jazz Pharmaceuticals for $935 million in April 2025. According to InvestingPro data, Lantern maintains a strong balance sheet with more cash than debt and a healthy current ratio of 4.86x.
"His proven track record in building and scaling precision oncology companies, combined with his deep understanding of neurooncology drug development, aligns perfectly with our AI-driven approach to targeting difficult-to-treat cancers," said Panna Sharma, President and CEO of Lantern Pharma, in a press release statement.
Before his biotech career, Schalop spent 19 years in the financial industry at firms including Morgan Stanley, J.P. Morgan, and Credit Suisse, serving as both an investment banker and research analyst.
Schalop earned his Doctor of Medicine degree from Albert Einstein College of Medicine and graduated summa cum laude from the University of Pennsylvania with dual degrees. He currently serves on the Supervisory Board of TME Pharma N.V. (Euronext Growth Paris:ALTME) and the advisory board of the Vagelos Program in Life Sciences and Management at the University of Pennsylvania.
Lantern Pharma uses its proprietary RADR platform to leverage artificial intelligence and machine learning for cancer drug discovery and development. The company continues to advance its precision oncology pipeline through partnerships and internal development, including through its wholly owned subsidiary, Starlight Therapeutics, which focuses on CNS cancers. With its next earnings report due on August 6, 2025, analysts maintain optimistic price targets ranging from $15 to $26 per share. For deeper insights into Lantern Pharma’s financial health and growth potential, explore the comprehensive analysis available on InvestingPro, which offers exclusive ProTips and detailed metrics for informed investment decisions.
In other recent news, Lantern Pharma Inc. reported a narrower net loss for Q1 2025 compared to the same quarter last year, highlighting the company’s strategic focus on cost management and innovation in drug development. This financial performance was supported by reduced R&D expenses and a robust cash position, which are expected to facilitate further advancements in clinical trials and its AI-driven drug discovery platform. Additionally, Lantern Pharma announced that a patient with aggressive Grade 3 non-germinal center B-cell diffuse large B-cell lymphoma achieved a complete metabolic response in a Phase 1 clinical trial of its experimental drug LP-284. This outcome was notable as the patient had previously failed three treatment regimens.
Furthermore, Lantern Pharma has launched a new artificial intelligence module within its RADR platform. This module is designed to predict the efficacy of combination therapies involving DNA-damaging agents and DNA damage repair inhibitors for cancer treatment. In preclinical developments, Lantern Pharma’s drug candidate LP-184 has shown promising results for treating atypical teratoid rhabdoid tumors, a rare pediatric brain cancer. The drug significantly extended survival in mouse models, supporting its Rare Pediatric Disease Designation by the FDA. These recent developments underscore Lantern Pharma’s ongoing efforts in advancing cancer treatment options.
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