(RTTNews) - Lantern Pharma Inc. (LTRN) on Tuesday announced, that the U.S. Food and Drug Administration has given Orphan Drug Designation to LP-284 for treatment of soft tissue sarcomas.
This marks the third orphan designation for the program and the company's sixth overall. Previously, LP-284 was granted orphan status for mantle cell lymphoma and high-grade B-cell lymphoma.
This new designation allows LP-284 to be developed for solid tumors in addition to blood cancers, which is significant since treatment options for solid tumors are pretty limited.
Right now, LP-284 is being tested in a Phase 1 trial for B-cell non-Hodgkin lymphomas.
LTRN is currently trading at $3.48, down $0.06 or 1.75 percent on the Nasdaq.
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