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, along with a concurrent private placement of unregistered warrants to purchase up to an additional 2,135,923 shares at an exercise price of $2.27 per share. If fully exercised, these warrants could generate up to approximately $4.85 million in additional gross proceeds.
The capital infusion comes at a critical time as Lantern Pharma continues to advance its clinical pipeline of precision oncology therapies. The company’s lead programs include LP-184, an acylfulvene targeting solid tumors, and LP-284, a TC-NER targeting compound for hematologic and solid tumors. Additionally, Lantern is evaluating LP-300, a cisplatin analog, in the HARMONIC Phase 2 trial for never-smoker patients with relapsed advanced lung adenocarcinoma following TKI treatment. The company is also developing LP-184 for pediatric CNS cancers through its wholly owned subsidiary, Starlight Therapeutics.
A key differentiator for Lantern is its proprietary RADR platform, which leverages artificial intelligence and machine learning to analyze genomic data and predict drug responses, potentially accelerating the development of cancer therapies. Furthermore, Lantern recently launched Zeta.ai, a multi-agentic AI co-scientist platform now commercially available as a subscription-based research tool for the global biomedical community. This platform represents a new revenue stream for the company, beyond its core drug development efforts.
The offering’s closure underscores investor confidence in Lantern’s strategy to integrate AI with oncology drug development. The proceeds will support ongoing clinical trials, the expansion of the RADR platform, and the commercialization of Zeta.ai. Lantern operates an AI Center of Excellence in Bengaluru, India, and is headquartered in Dallas, Texas.
For more information about Lantern Pharma and its latest updates, visit the company’s newsroom at https://ibn.fm/LTRN.
