Lantern Pharma launches $4M registered direct offering

Lantern Pharma Inc. (NASDAQ: LTRN), a clinical-stage biopharmaceutical company, has entered into a definitive agreement for a registered direct offering expected to raise approximately $4 million in gross proceeds, with the potential for up to $4 million more through warrant exercises.

According to a press release, the offering involves 3,669,725 shares of common stock, or pre-funded warrants in lieu thereof, priced at $1.09 per share. In a concurrent private placement, the company will also issue unregistered warrants to purchase up to 3,669,725 additional shares at the same $1.09 exercise price.

The warrants will become exercisable upon stockholder approval of the underlying share issuance and will expire five years after that approval. No assurance was given that any warrants will be exercised.

The closing of the offering is expected on or about September 30, 2026, subject to customary closing conditions. Rodman & Renshaw LLC is serving as the exclusive placement agent.

Lantern Pharma said it intends to use the net proceeds for working capital and general corporate purposes. The figures cited are before placement agent fees and other offering expenses.

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