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Lantern Pharma Inc . (NASDAQ:LTRN) announced that its board of directors appointed Lee T. Schalop, M.D. to the board, effective Thursday. The appointment was made following a recommendation from the board’s Nominating and Corporate Governance Committee, according to a statement released through a SEC filing.
Dr. Schalop co-founded Oncoceutics, Inc., a clinical-stage drug discovery and development company, in 2009. He served in executive roles at Oncoceutics from 2009 to 2021, including as Chief Business Officer, Chief Operating Officer, and Chief Executive Officer. Oncoceutics was acquired by Chimerix Inc . (NASDAQ:CMRX) in January 2021 for $450 million. With Lantern Pharma’s stock currently trading at $3.87, InvestingPro analysis suggests the company is significantly undervalued, despite showing volatile price movements and remaining unprofitable over the last twelve months. Dr. Schalop holds a medical degree from the Albert Einstein College of Medicine and previously worked for over 19 years in the financial industry at firms such as Morgan Stanley (NYSE:MS), J.P. Morgan, Credit Suisse, and Banc of America Securities.
In addition, Dr. Schalop serves on the Supervisory Board of TME Pharma N.V. ( Euronext (EPA:ENX) Growth Paris:ALTME) and the advisory board of the Vagelos Program in Life Sciences and Management at the University of Pennsylvania. He is a summa cum laude graduate of the University of Pennsylvania with dual degrees from the Wharton School and the College of Arts and Sciences.
Also on Thursday, Lantern Pharma’s board approved an amendment to the company’s by-laws to change the quorum requirement for stockholder meetings. The amendment reduces the quorum needed from a majority of shares entitled to vote to one-third (33.33%) of such shares. The revised by-law states that unless otherwise provided by law or the certificate of incorporation, one-third of outstanding shares entitled to vote, present in person, by remote communication, or by proxy, constitutes a quorum. Abstentions and broker non-votes will count toward determining if a quorum is present.
Lantern Pharma Inc. is based in Dallas, Texas, and its common stock trades on the Nasdaq Capital Market under the symbol LTRN. The company is scheduled to report its next earnings in 8 days, on August 6, 2025, which investors will closely watch given the company’s current financial metrics. For deeper insights into Lantern Pharma’s financial health and growth prospects, including additional ProTips and comprehensive analysis, investors can access the detailed Pro Research Report available on InvestingPro. This information is based on a statement released through a SEC filing.
In other recent news, Lantern Pharma Inc. reported a narrower net loss for Q1 2025 compared to the previous year, emphasizing its strategic focus on cost management and innovation. The company’s financial performance was marked by reduced research and development expenses and a robust cash position, supporting ongoing advancements in clinical trials and its AI-driven drug discovery platform. Additionally, Lantern Pharma announced a complete metabolic response in a patient with aggressive lymphoma during a Phase 1 clinical trial of its experimental drug LP-284. This development is significant as the patient had previously failed three treatment regimens over the past 18 months. In another advancement, Lantern Pharma introduced a new AI module within its RADR platform to predict the efficacy of cancer treatment combinations, aiming to address a market projected to exceed $50 billion by 2030. The company also unveiled promising preclinical data for its drug candidate LP-184, targeting a rare pediatric brain cancer, showing significant survival improvements in mouse models. Furthermore, Lantern Pharma appointed Lee T. Schalop, MD, to its Board of Directors, bringing over 20 years of experience in biotechnology leadership. These developments highlight Lantern Pharma’s ongoing efforts in oncology drug development and strategic innovation.
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