10:09 AM EDT, 10/15/2024 (MT Newswires) -- Lantern Pharma ( LTRN ) said Tuesday that the Food and Drug Administration designated the company's LP-184 drug candidate for fast-track development as a treatment for glioblastoma.

Lantern's LP-184 drug candidate is now being evaluated for its safety, tolerability and maximum dose in phase 1a testing. The company is expecting to transfer LP-184 to its wholly owned Starlight Therapeutics subsidiary, which will manage a phase 1b/2a study later this year or early 2025 of LP-184 both alone or in combination with spironolactone in patients with recurrent glioblastoma.

The US Food and Drug Administration's fast-track designation is intended to expedite the agency's review process of new therapies for serious conditions or unmet medical needs.

Lantern shares recently were 1.4% higher in mid-morning trading.

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