Lantern Pharma Reports Fourth Quarter and Year End 2020 Financial Results and Operational Highlights
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Lantern Pharma (LTRN) Misses Q4 EPS by 2c
March 10, 2021 4:28 PM ESTLantern Pharma (NASDAQ: LTRN) reported Q4 EPS of ($0.47), $0.02 worse than the analyst estimate of ($0.45).
Fourth Quarter 2020 Financial Highlights
Cash Position: Cash and cash equivalents were $19.2 million as of December 31, 2020, compared to $20.8 million as of September 30, 2020 and $1.2 million as of December 31, 2019. The quarterly cash burn reflects our capital-efficient, collaborator-centered business model. The year-over-year increase in cash balance reflects proceeds from the June 2020 IPO. On January 20, 2021, we completed a follow-on public offering resulting in gross proceeds of $69.0 million. R&D Expenses: Research and development expenses were $1,348,329 for the quarter ended December 31, 2020, compared to $177,467 for the... More