Lantern Pharma (NASDAQ: LTRN) has closed its previously announced registered direct offering, generating approximately $4.4 million in gross proceeds. The offering involved the sale of 2,135,923 shares of common stock or pre-funded warrants at $2.06 per share. In a concurrent private placement, the company issued unregistered warrants to purchase up to 2,135,923 additional shares at an exercise price of $2.27 per share, which could yield up to approximately $4.85 million in additional gross proceeds if fully exercised. The full press release is available at https://ibn.fm/Oh6jI.
Lantern Pharma is a clinical-stage precision oncology company that leverages artificial intelligence, machine learning, and its proprietary RADR platform to transform cancer therapy development. Its pipeline includes LP-184 (acylfulvene), LP-284 (a TC-NER targeting compound for hematologic and solid tumors), and LP-300 (a cisplatin/ethacraplatin analog) currently being evaluated in the HARMONIC Phase 2 trial for never-smoker patients with relapsed advanced lung adenocarcinoma following TKI treatment. LP-184 is also being developed for pediatric CNS cancers through Starlight Therapeutics, Lantern’s wholly owned CNS-focused subsidiary. Additionally, withZeta.ai, Lantern’s multi-agentic AI co-scientist platform, is now commercially available as a subscription-based research platform for the global biomedical community, representing a new revenue stream for the company. Lantern operates an AI Center of Excellence in Bengaluru, India and is headquartered in Dallas, Texas.
The capital raised is expected to support the continued development of Lantern’s clinical programs and its AI platform. The company’s focus on precision oncology and the integration of AI in drug development positions it to potentially improve outcomes for cancer patients. Investors can find the latest news and updates regarding LTRN in the company’s newsroom at https://ibn.fm/LTRN.
