Lantern Pharma Inc. (NASDAQ: LTRN) has closed a registered direct offering, generating approximately $4.4 million in gross proceeds. The transaction involved the sale of 2,135,923 shares of common stock, or pre-funded warrants in lieu thereof, 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 $2.27 per share, which could yield up to approximately $4.85 million in additional gross proceeds if fully exercised.
The capital raise underscores Lantern Pharma's commitment to advancing its precision oncology pipeline, which leverages artificial intelligence and machine learning through its proprietary RADR® platform. The company's clinical-stage programs include LP-184, an acylfulvene targeting solid tumors; LP-284, a TC-NER targeting compound for hematologic and solid tumors; and LP-300, a cisplatin/ethacraplatin analog 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 via Starlight Therapeutics, a wholly owned subsidiary.
Notably, Lantern's Zeta.ai platform, a multi-agentic AI co-scientist, is now commercially available as a subscription-based research platform for the global biomedical and drug development community, representing a new revenue stream. The company operates an AI Center of Excellence in Bengaluru, India, and is headquartered in Dallas, Texas.
The completion of this offering provides Lantern with financial flexibility to advance its pipeline and expand the commercial reach of Zeta.ai. For further details, the full press release is available at https://ibn.fm/Oh6jI.
About Lantern Pharma Inc.: Lantern Pharma Inc. (Nasdaq: LTRN) is a clinical-stage precision oncology company leveraging AI, machine learning, and its proprietary RADR® platform to transform the development of cancer therapies. More information is available at https://ibn.fm/LTRN.
