Lantern Pharma Inc. (NASDAQ: LTRN), a clinical-stage precision oncology company, announced the closing of its registered direct offering, raising approximately $4.4 million in gross proceeds. The offering 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 also issued unregistered warrants to purchase up to 2,135,923 additional shares at an exercise price of $2.27 per share, which could generate up to approximately $4.85 million in additional gross proceeds if fully exercised.
The capital raise comes as Lantern Pharma continues to leverage its proprietary RADR® platform, which uses artificial intelligence and machine learning to transform the development of cancer therapies. The company’s clinical pipeline includes LP-184 (acylfulvene), LP-284 (a TC-NER targeting compound for hematologic and solid tumors), and LP-300 (cisplatin/ethacraplatin analog), which is 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.
Beyond its pipeline, Lantern Pharma has introduced withZeta.ai, a multi-agentic AI co-scientist platform now commercially available as a subscription-based research platform for the global biomedical and drug development community. This platform represents a new revenue stream for the company, which operates an AI Center of Excellence in Bengaluru, India, and is headquartered in Dallas, Texas.
The offering’s closing provides Lantern Pharma with additional financial flexibility to advance its oncology programs and expand the reach of its AI capabilities. Investors can find the latest news and updates relating to LTRN in the company’s newsroom at https://ibn.fm/LTRN.
For more information on the press release, visit https://ibn.fm/Oh6jI.
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