Lantern Pharma (NASDAQ: LTRN), a clinical-stage, AI-native biopharma company using artificial intelligence and genomic data to develop precision oncology therapies, has closed a registered direct offering that generated approximately $4 million in gross proceeds before fees and expenses. The offering consisted of 3,669,725 shares of common stock, or pre-funded warrants in lieu thereof, at $1.09 per share. In a concurrent private placement, the company issued unregistered warrants to purchase up to an additional 3,669,725 shares at the same exercise price, potentially providing another $4 million in gross proceeds if fully exercised for cash. Rodman & Renshaw LLC acted as exclusive placement agent.
The financing matters because it gives Lantern Pharma the working capital to continue advancing its pipeline of precision oncology drug candidates, which includes LP-184 (zirdafulven), LP-300, and LP-284, as well as its CNS-focused subsidiary Starlight Therapeutics and AI subsidiary Open-Medicine AI. The company intends to use the net proceeds for working capital and general corporate purposes, a move that supports ongoing clinical development and operations. For investors, the offering structure—with warrants attached—offers the company a low-cost path to additional capital if the stock price appreciates, while the immediate dilution from the shares issued is a trade-off for the funding certainty.
Lantern’s core technology, the RADR platform, integrates large-scale genomic and biological data with machine learning to identify patients most likely to benefit from its therapies and to guide biomarker-driven clinical development. By transforming the cost, pace, and precision of oncology drug development, RADR positions Lantern to potentially bring therapies to market faster and with higher success rates. The infusion of capital announced today therefore not only strengthens the balance sheet but also reinforces the company’s ability to execute on its AI-driven strategy. Investors can find more details in the full press release at https://nnw.fm/a9u8A and stay updated with the latest news and updates relating to LTRN in the company’s newsroom at https://nnw.fm/LTRN.
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