Lantern Pharma Inc. Segments Disclosure
Note 11: Segment Reporting
The Company operates as one operating segment. The Company’s chief operating decision maker (“CODM”) is its chief executive officer, who reviews financial information presented on a consolidated basis. The CODM uses expected research and development study and material costs; cash, cash equivalents and marketable securities balances; operating losses; and budget projections to assess financial performance and allocate resources.
Cash, cash equivalents and marketable securities were as follows at December 31, 2025 and 2024:
| 2025 | 2024 | |||||||
| Cash | $ | 2,883,305 | $ | 891,603 | ||||
| Cash equivalents | 1,539,533 | 6,619,476 | ||||||
| Marketable securities | 5,696,386 | 16,501,984 | ||||||
Research and development study and material costs were as follows during the years ended December 31, 2025 and 2024:
| 2025 | 2024 | |||||||
| Research and development studies | $ | 7,111,026 | $ | 11,083,607 | ||||
| Research and development materials | 255,024 | 316,435 | ||||||
| $ | 7,366,050 | $ | 11,400,042 | |||||
These financial metrics are used by the CODM to make key operating decisions, such as which research and development studies to commence, extend or discontinue. See the consolidated balance sheets and statements of operations as of and for the years ended December 31, 2025 and 2024.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 30, 2026 | Showing above |
| 2024 | Mar 27, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.