Lantern Pharma Inc.

Listed Company

LTRNCIK 0001763950NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsTexasFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-17.12M

Total Assets

—

Equity

—

Shares Out

11.30M

Op. Cash Flow

$-15.68M

Business

Lantern Pharma Inc. is an artificial intelligence–driven biopharma company developing precision oncology therapies and accelerating oncology drug discovery and development. It offers the RADR® A.I. platform and advances small‑molecule drug candidates (LP‑300, LP‑184/STAR‑001, LP‑284, LP‑100) and an antibody‑drug conjugate (ADC) program using biomarker‑driven, genomics‑guided approaches. Its operations include clinical development programs and a wholly‑owned subsidiary, Starlight Therapeutics, focused on CNS and brain cancers, alongside drug‑rescue and de‑novo discovery efforts. Lantern conducts multinational clinical trials and research collaborations and relies on contract manufacturing organizations and academic partners for development and distribution.

Summary from filing dated 2025-03-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
General and administrative	6	6	6	6	5
Research and development	12	16	12	9	8
Total operating expenses	18	22	18	14	13
Loss from operations	−18	−22	−18	−14	−13
Interest income	437,931	742,355	765,388	204,355	67,929
Other income, net	421,125	692,869	1	−31,548	160,550
NET LOSS	−17	−21	−16	−14	−12
Net loss per share of common shares, basic	−1.57	−1.93	−1.47	−1.31	−1.13
Net loss per share of common shares, diluted	−1.57	−1.93	−1.47	−1.31	—
Weighted-average number of common shares outstanding, basic	11	11	11	11	11
Weighted-average number of common shares outstanding, diluted	11	11	11	11	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	4	8	22	37	52
Marketable securities	6	17	19	18	19
Prepaid expenses & other current assets	684,000	1	2	3	2
Total current assets	11	25	43	59	73
Property and equipment, net	31,875	47,440	52,127	48,008	30,245
Operating lease right-of-use assets	75,595	239,985	228,295	47,687	185,943
Deferred offering costs	88,431	—	—	—	—
Other assets	36,738	36,738	25,869	17,889	17,889
TOTAL ASSETS	11	26	44	59	74
Accounts payable and accrued expenses	4	4	3	3	2
Operating lease liabilities, current	78,539	190,814	172,975	52,890	152,058
Total current liabilities	5	4	3	3	2
Operating lease liabilities, net of current portion	—	52,843	61,496	—	52,890
TOTAL LIABILITIES	5	4	3	3	2
COMMITMENTS AND CONTINGENCIES (NOTE 4)	—	—	—	—	—
Preferred Stock (1,000,000 authorized at December 31, 2025 and December 31, 2024; $.0001 par value) (Zero shares issued and outstanding at December 31, 2025 and December 31, 2024)	—	—	—	—	—
Common Stock (25,000,000 authorized at December 31, 2025 and December 31, 2024; $.0001 par value) (11,254,697 shares issued and outstanding at December 31, 2025; 10,784,725 shares issued and outstanding at December 31, 2024)	1,125	1,078	1,072	1,086	1,109
Additional paid-in capital	100	97	96	96	97
Accumulated other comprehensive income	25,430	153,990	−107,460	−371,386	−92,689
Accumulated deficit	−93	−76	−55	−39	−25
Total stockholders equity	7	21	41	56	72
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	11	26	44	59	74

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	17,280	17,282	14,615	—	—
Accretion of discounts on available for sale debt securities, net	−196,427	−238,574	−173,086	81,870	—
Non-cash lease adjustments	189,897	173,211	160,228	144,600	—
Issuance of restricted common stock for services	366,900	—	—	—	—
Stock-based compensation	650,877	732,893	1	—	—
Foreign currency remeasurement (gain) loss	−157,965	219,729	11,500	58,598	—
Realized gain on redemptions of available for sale debt securities	−22,408	−9,065	115,840	128,922	—
Realized loss on equity securities	264,913	—	—	—	—
Unrealized gain on equity securities	−305,887	−155,624	−119,650	492,501	80,557
Operating lease liabilities	−190,625	−175,715	−159,255	−158,402	−71,655
Prepaid expenses & other current assets	554,095	778,304	941,440	−1	—
Accounts payable and accrued expenses	271,808	2	−236,181	580,359	2
Other assets	—	−10,869	−7,980	—	33,991
Net cash flows used in operating activities	−16	−18	−14	−13	−11
Purchase of property and equipment	−1,715	−12,595	−18,734	−27,844	−15,499
Purchase of marketable securities	−15	−17	−8	−4	−20
Redemptions of marketable securities	26	21	7	4	64,093
Net cash flows provided by investing activities	11	3	−930,210	179,268	−20
Proceeds from option exercises	13,442	—	—	—	—
Proceeds from warrant exercises	—	66,710	—	—	—
Proceeds from the issuance of common stock under the ATM Sales Agreement	2	—	—	—	69
Payments of offering cost related to the ATM Sales Agreement	−139,749	—	—	—	−5
Net cash flows provided by financing activities	1	66,710	−499,997	−2	63
Effect of foreign exchange rates on cash	33,426	−49,547	−28,462	−10,607	1,070
CHANGE IN CASH AND CASH EQUIVALENTS FOR THE YEAR	−3	−14	−16	−15	33
Operating lease right-of-use asset acquired through operating lease liability	78,351	348,623	141,989	—	—
Removal of operating lease right-of-use assets and related operating lease liabilities upon early termination of leases	52,844	163,722	—	—	—
Deferred offering costs included in accounts payable and accrued expenses	10,000	—	—	—	—

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