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Shares of Lantern Pharma Inc. (LTRN) surged nearly 18% in pre-market trading on Friday after the biotech firm said that the U.S. Food and Drug Administration cleared its Investigational New Drug (IND) application for STAR-001, allowing the company to begin a Phase 1 pediatric clinical trial for central nervous system cancers.
STAR-001 is a precision oncology compound discovered using Lantern’s proprietary RADR AI platform, which helped identify its potential in CNS and pediatric CNS indications, the company said. The study will evaluate the drug both as a standalone treatment and in combination with Spironolactone in children with relapsed or refractory CNS cancers.
The trial will be conducted in collaboration with the Pediatric Oncology Experimental Therapeutics Investigators' Consortium.
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