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Lantern Pharma (NASDAQ: LTRN) announced the U.S. Patent and Trademark Office has issued a notice of allowance for its patent application related to its drug candidate LP-284, targeting non-Hodgkin's lymphomas. This patent is expected to provide market exclusivity until 2039. The company plans to submit an Investigational New Drug (IND) application for LP-284 to the FDA in mid-2023 and commence a Phase 1 clinical trial later this year. LP-284, with nanomolar potency, addresses significant unmet needs among patients with mantle cell lymphoma (MCL) and double-hit lymphoma (DHL), presenting an estimated annual market potential of $1.2 billion. The candidate has also received Orphan Drug Designation from the FDA for MCL, enhancing its development pathway.
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