Lantern Pharma (NASDAQ: LTRN) announced a definitive agreement for the purchase and sale of 3,669,725 shares of common stock, or pre-funded warrants in lieu thereof, at $1.09 per share in a registered direct offering expected to generate approximately $4 million in gross proceeds. In a concurrent private placement, the company will issue unregistered warrants to purchase up to 3,669,725 additional shares at an exercise price of $1.09 per share, potentially generating approximately $4 million in additional gross proceeds if fully exercised for cash.
The offering is expected to close on or about Sept. 30, 2026, subject to customary closing conditions, with Rodman & Renshaw LLC acting as exclusive placement agent. Lantern Pharma intends to use the net proceeds for working capital and other general corporate purposes. The unregistered warrants will become exercisable subject to stockholder approval and will expire five years following that approval.
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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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