Good evening, everybody. I am Nicole Leber with Investor Relations here at Lantern Pharma. And welcome to our First Quarter 2022 Earnings Call. I will be your host for today's call. As a reminder, this call is being recorded and all attendees are in a listen-only mode. We will open up the call for questions and answers after management's presentation. Webcast replay of today's conference call will be available on our website at lanternpharma.com after the call. We issued a press release after the market closed today, summarizing our financial results and progress across the company for the first quarter of 2022. A copy of this release is available through our website where you can also find a link to the slides that management will be referencing on today's call. I would like to remind everybody about that remarks about future expectations, claims and prospectus constitute forward-looking statements for purposes of safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Lantern Pharma cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those anticipated. A number of factors could cause actual results to differ materially from those indicated by forward-looking statements versus the impact of COVID-19 pandemic, results of clinical trials and the impact of competition. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements can be found in our Annual Report on Form 10-K for the year ended December 31, 2021 which is on file with the SEC and available on our website. Forward-looking statements made on this conference call are as of today, Tuesday, May 3, 2022 and Lantern Pharma does not intend to update any of these forward-looking statements to reflect events from circumstances that occur after today, unless required by law. On today's webcast, we have CEO, Panna Sharma; CFO, David Margrave and joining us by audio is Chief Scientific Officer, Kishor Bhatia. Panna will begin with an overview of Lantern's operational highlights, after which Dr. Bhatia will provide additional scientific and clinical updates on our portfolio and programs and then David will discuss our financial results and other corporate events. This will be followed by concluding comments from Panna and then we'll open up the call for questions and answers. And I'd now like to turn the call over to Panna Sharma, CEO and President of Lantern Pharma. Panna, please go ahead.

Thank you, Nicole. Good afternoon, everyone and welcome to our first quarter 2022 earnings call. Thank you for joining us today and we hope you have some questions for us and our team. Right now, we're at a very exciting inflection point at Lantern as we evolve and mature many of our initial AI-driven insights and drug candidates into human clinical trials. We're continuing to make significant and meaningful progress in turning our ideas that have been generated by our AI platform RADR into advancing our clinical programs and generating new preclinical compounds. At Lantern, our mission is to use AI, machine learning and big data to understand the genomics, biomarkers and biology of cancer better, faster and greater precision. We then leverage those understandings and insights to develop targeted oncology therapies that dramatically reduce costs with an improved risk profile for targeted patient populations in a compressed manner. We think that this approach of using AI and data can fundamentally change the lives of more cancer patients faster and with reduced risk. When I joined the company, we had one active drug program. When we took the company public in June of 2020, we had three drug programs. Today, we have nine programs for targeted indications with three FDA-granted orphan designations and one rare pediatric disease designation. I'm very proud of that accomplishment by our talented team and that would not have been possible in the traditional drug development process. The short amount of time that I've been at Lantern, we've done this because of data and, more importantly, with AI and with growing our library of algorithms. Right now, we are living in the cusp of the golden age of medicine. And because of AI, cloud computing and the growing availability of relevant biologic, genomic and clinical data,…

Thank you, Panna. I'd first like to update everyone on the study's directly relevant to clinical trials of both LP-300 and LP-184. The HARMONIC trial which is investigating the efficacy of LP-300 when used in combination with the standard of care carboplatin and pemetrexed continues to move forward. The retrospective analysis of a multicenter Phase III trial showed that LP-300, given in combination with chemotherapy, increased the two year and overall survival by 125% and 91% in a subset of patients who turned out to be never smokers. What an LP-300 mechanism action may help explain the survival benefits observed in lung cancer in never smokers. Well, one of LP-300's mechanism of action is to covalently modify the systems of certain proteins potentially inactivating them. Previous and ongoing multi or mixed data clearly signify that lung cancer in never smokers has distinct gene and protein expression profile when compared to lung cancer in smokers. For example, some recent data published in the International Journal of Cancer identify fewer somatic mutations and lesser chromosome instability but confirm higher frequency of mutations in EGFR and ErbB2. These features that distinguish lung cancer in never smokers are also the proteins that are potential targets of LP-300 in studies that involve the assessment of the direct interaction of LP-300 and some of those sketches are shown on this slide of the interaction of LP-300 and drivers of lung cancer in never smokers like the tyrosine kinase ALK or EGFR, LP-300 modified cysteine residues supporting that LP-300 can inactivate tyrosine kinase proteins that are primarily involved with lung cancer in never smokers. LP-300 has been previously shown to act as a chemosensitizer by decreasing the activity of redox protein, thioredoxin and glutaredoxin which are often overexpressed in lung cancer in never smokers. Exposure to LP-300…

Thank you, Kishor and good afternoon, everyone. I will now share some of the financial highlights from the first quarter. Our R&D expenses were $2.7 million for the first quarter of 2022, up from $1.3 million in the first quarter of 2021. The increase in R&D expense was primarily attributable to increases in manufacturing-related expenses for product candidates, research studies and an escrow payment released to Allarity under the Allarity asset purchase agreement which payment was a non-recurring expense. General and administrative expenses were $1.4 million in the first quarter of 2022, up from $1.2 million for the prior year period. We recorded a net loss of approximately $4.1 million for the first quarter of 2022 or $0.38 per share. As of March 31, 2022, we had approximately 10.8 million shares of common stock outstanding and outstanding warrants to purchase approximately 891,000 shares and outstanding options to purchase approximately 178,000 shares. These warrants and options, combined with our outstanding shares of common stock, give us a total fully diluted shares outstanding of approximately 1.9 million shares as of March 31, 2022. Panna mentioned our share repurchase program and, through March 31, 2022, the company has repurchased a total of 475,157 shares. Of those, 353,667 shares were purchased in the first quarter of 2022. Our cash position, including cash equivalents and marketable securities at March 31, '22, was $65.2 million. This balance is expected to carry us into 2025. Importantly, we believe our solid financial position will fuel continued growth and evolution of our RADR AI platform, accelerate the development of our portfolio of targeted oncology drug candidates and allow us to introduce additional targeted products and collaboration opportunities in a capital-efficient manner. Consistent with our focus on capital efficiency, in September 21, as Panna mentioned, we created an Australian subsidiary…

Thank you, David. I believe we're very well positioned today. We will continue to have a very strong fiscal discipline, strong balance sheet and great oversight of our programs. Our focus is on leveraging our intellectual knowledge and our unique capabilities around scientific strategy and clinical trial design and on AI platform development. While we work with CROs and leading cancer centers to accelerate our trials and our studies. This model enables us to keep our company lean and mission-focused while allowing us the flexibility to increase or decrease the studies, the trials, the wet lab work as they're needed and also as results dictate. During the year, we expect to bring multiple assets into focused clinical trials in 2022, where there's demonstrated patient need or where there's really no proven therapy, for example, brain mets or ATRT, while remaining focused on capital efficiency. We'll continue to take initiatives this year to make our dollars go further such as the Australia subsidiary, potentially looking at additional partnerships, focusing on nondilutive funding through grants and other mechanisms. Additionally, our AI platform RADR will continue to grow significantly across all measures, data, analytical rigor, generation of new publishable insights and new functionality. As data and I continue to drive changes in cost, speed and efficiency of drug discovery development, out team at Lantern will remain at the forefront of transforming oncology therapeutic development. So with that, now I'd like to open up the call to any questions.

Thank you, Panna. [Operator Instructions] We have couple of questions coming in already. One from Keith Thompson [ph]. Lantern is the only company I know of that mentions the size of its AI data bank. Why is that? Is $20 billion-plus a large or small number related to AI in the bio space?

I think it's good to report how the progress of the DLAK [ph] is because it gives you a sense of what are the types of things our team is focused on? What is the velocity of the increase but cancers, what data types gives you a sense of what are the questions that we're going to be exploring and what is the road map for development. I'm sure there are other companies that talk about the numbers. I don't think many have the some kind of discipline in terms of reporting them or so might be afraid to report it. But I do see other companies in drug development. I think broadly in bio, I do see as many of the synthetic bio companies reporting similar types of metrics. So, yes, it's growing. It's definitely growing thing to report the number of kind of the data elements or data types or unique sets of data.

Sure. The next question here and I see Michael Samuels [ph] is asking to raise his hand. And so, Michael, I will allow you to speak. Any worries related to your cash runway?

I can speak to that. I think, the answer is no. I think we all recognize that focus on cash availability and your cash runway is very important for companies in our space. That's something we do constantly. As Panna recognized, this is a challenging environment. We're well aware of that. We're quite focused on maintaining capital efficiency and keeping the lean disciplined environment that we've been able to maintain at this point. We see if we do those things, we don't see cash runway as an issue for us. Anything you would add to that, Panna?

No. I think we've given guidance, we've got cash into 2025 which I think there will be a lot of developments between now and then. So, we should be cognizant but we're not worried.

Okay. And I see John Newman [ph] is asking to speak.

I just had a question about the Phase II HARMONIC study for LP-300 in never smokers. Just curious if that study will be including patients with brain mets? And I'm wondering if brain mets are any more or less common in never-smoker lung cancer patients than smokers.

I think, brain mets should be excluding people from the trial. Unfortunately, we won't confound the results of the study. And since brain mets is not the indication for LP-300, it probably makes sense for them to have a different care path that was the nature of your question. In terms of the -- I think there is a second part to that question, LP-300 besides the brain mets. John, what was the second part of that?

Just curious if it's known whether brain mets are any more or less common in the never smoker patients, so perhaps never smoker patients wouldn't have as many brain mets. So there really wouldn't be any restrictions on them receiving the drug in the real world if it were approved.

I can take that. No, I mean, even non-smokers -- in lung cancer in non-smokers, there are brain mets. There's not sufficient data that I can point to but I think there is equal risk, whether the lung cancer occurs in smokers or non-smokers. Yes, that's probably -- that's accurate from the anecdotal data but there's no comprehensive data I've seen in terms of percentage of bringing that from various smoking types.

And can you maybe talk about any type of genetic or biomarker data that you'll be collecting from the never smoker patients?

Yes, I'd love to. Kishor, do you want to give the [indiscernible].

Yes, sure. So, we have an exploratory end point where we are looking at circulating DNA to see if we can get early indications of responses. But in addition to that, we are also going to collect already available genomic data from the archival tissues to be able to do more direct correlations in terms of the response, the patterns of response, so on and so forth. But all these are exploratory studies at this point.

Yes. We'll be taking liquid biopsy at enrollment after three cycles, six cycles and at end of study. And so, we might find some unique sort of biomarkers correlated to some of the observations. But again, those are exploratory at this point but we may use in later stage phases. Very good questions from John.

Okay. And I'm not seeing that we have any additional questions. So I'll give everyone a few moments if you would either like to type in your questions in the Q&A tool or if you would like to speak directly to management, feel free to use the raise hand tool. Okay. I'm not seeing any other questions coming in here. Panna, would you like to make any final remarks?

No, we look forward to talking more with our investors and shareholders as the quarter continues. We plan on having several updates on not only our existing clinical trials but some of the other programs and partnerships that we'll be creating. So, thank you all for attending and we hope we found this as informative as well. Thank you.

Thanks very much.

Thank you, everyone.

Thank you.