Lantern Pharma Closes $4.4 Million Registered Direct Offering, Strengthening Financial Position for AI-Driven Cancer Therapy Development

Lantern Pharma (NASDAQ: LTRN) announced the closing of its registered direct offering, raising approximately $4.4 million in gross proceeds through 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 generate 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 and machine learning, particularly its proprietary RADR platform, 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 in 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, Lantern’s withZeta.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.

This capital raise is significant as it provides Lantern Pharma with additional financial resources to advance its AI-driven drug development programs and support the commercialization of its withZeta.ai platform. The company’s focus on precision oncology and AI aligns with broader industry trends toward more targeted and efficient cancer therapies. The successful closing of this offering demonstrates investor confidence in Lantern’s approach and its potential to generate value through its pipeline and AI capabilities.

For more information about Lantern Pharma, visit the company’s newsroom at https://ibn.fm/LTRN.