Lantern Pharma Raises $4.4 Million in Registered Direct Offering to Advance AI-Driven Cancer Drug Development
Lantern Pharma has closed a $4.4 million registered direct offering, providing capital to support its AI-powered oncology pipeline and commercial launch of the Zeta.ai platform.
Lantern Pharma (NASDAQ: LTRN) has closed a registered direct offering, raising approximately $4.4 million in gross proceeds, the company announced. 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. In a concurrent private placement, Lantern also 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.
The capital injection comes as Lantern Pharma, a clinical-stage precision oncology company, continues to leverage its proprietary RADR® platform and artificial intelligence to transform cancer therapy development. 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 for 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.
Beyond its pipeline, Lantern has introduced Zeta.ai, a multi-agentic AI co-scientist platform now commercially available as a subscription-based research platform for the global biomedical and drug development community. This represents a new revenue stream for the company, potentially diversifying its income sources beyond traditional drug development. Lantern operates an AI Center of Excellence in Bengaluru, India, and is headquartered in Dallas, Texas.
The offering underscores Lantern’s efforts to secure funding for its AI-driven approach, which aims to reduce the time and cost of drug development. The additional capital could accelerate clinical trials and support the commercialization of Zeta.ai, positioning the company to capture value from both its therapeutic pipeline and its AI platform. Investors can find the latest news and updates on LTRN in the company’s newsroom at https://ibn.fm/LTRN.