Lantern Pharma (NASDAQ: LTRN), a clinical-stage, AI-native biopharma company using artificial intelligence and genomic data to develop precision oncology therapies, announced the closing of its previously announced registered direct offering of 3,669,725 shares of common stock, or pre-funded warrants in lieu thereof, at $1.09 per share. The offering generated approximately $4 million in gross proceeds before fees and expenses. In a concurrent private placement, Lantern issued unregistered warrants to purchase up to 3,669,725 shares at an exercise price of $1.09 per share, potentially providing an additional approximately $4 million in gross proceeds if fully exercised for cash.
The company intends to use the net proceeds for working capital and other general corporate purposes. Rodman & Renshaw LLC acted as exclusive placement agent for the offering.
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About Lantern Pharma
Lantern Pharma (NASDAQ: LTRN) is a clinical-stage biopharmaceutical company leveraging its proprietary RADR artificial intelligence and machine-learning platform to transform the cost, pace, and precision of oncology drug development. By integrating large-scale genomic and biological data with advanced machine learning, RADR is designed to identify the patients most likely to benefit from Lantern’s therapies and to guide biomarker-driven clinical development. The company’s pipeline includes LP-184 (zirdafulven), LP-300, and LP-284, along with its central-nervous-system-focused subsidiary, Starlight Therapeutics, and its AI subsidiary, Open-Medicine AI.
NOTE TO INVESTORS: The latest news and updates relating to LTRN are available in the company’s newsroom at https://nnw.fm/LTRN
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