Benzinga | Aug 11, 2021 04:51PM EDT

Lantern Pharma Secures FDA Orphan Drug Tag For Pancreatic Cancer Candidate

* The FDA has granted Orphan Drug Designation to Lantern Pharma Inc's (NASDAQ:LTRN) LP-184 for pancreatic cancer.

* LP-184 is a small molecule drug candidate and next-generation alkylating agent that preferentially damages DNA in cancer cells that over-express certain biomarkers or harbor mutations in DNA repair pathways.

* LP-184 is being developed for several targeted indications in cancer, including pancreatic cancer.

* Lantern has begun discussions on the design of first-in-human clinical studies for LP-184.

* Price Action: LTRN shares closed 2.9% lower at $13.06 on Wednesday.

* Related content: Benzinga's Full FDA Calendar.