\nLantern Pharma Inc. (NASDAQ: LTRN) (\u201cLantern\u201d, the \u201cCompany\u201d or \u201cwe\u201d), a clinical-stage, AI-native biopharma company using artificial intelligence and genomic data to develop precision oncology therapies, today announced that it has entered into a definitive agreement for the purchase and sale of an aggregate of 3,669,725 shares of its common stock (or pre-funded warrants in lieu thereof) at a purchase price of $1.09 per share (or pre-funded warrant in lieu thereof) in a registered direct offering. In addition, in a concurrent private placement, the Company will issue unregistered warrants to purchase up to 3,669,725 shares of common stock. The warrants will have an exercise price of $1.09 per share, will be exercisable beginning on the effective date of, and subject to, approval by the Company\u2019s stockholders of the issuance of the shares of common stock upon exercise of the unregistered warrants (the \u201cStockholder Approval\u201d), and will expire five years following the Stockholder Approval. The closing of the offering is expected to occur on or about September 30, 2026, subject to the satisfaction of customary closing conditions. Rodman & Renshaw LLC is acting as the exclusive placement agent for the offering.<\/p>\n
\nThe aggregate gross proceeds to the Company from the offering are expected to be approximately $4 million, before deducting the placement agent fees and other offering expenses payable by the Company. The potential additional gross proceeds from the unregistered warrants, if fully exercised on a cash basis, will be approximately $4 million. No assurance can be given that any of the warrants will be exercised. The Company currently intends to use the net proceeds from the offering for working capital and other general corporate purposes.<\/p>\n
\nThe shares of common stock (or pre-funded warrants in lieu thereof) (but not the warrants issued in the private placement or the shares of common stock underlying such warrants) are being offered by the Company pursuant to a \u201cshelf\u201d registration statement on Form S-3 (File No. 333-279718) filed with the Securities and Exchange Commission (\u201cSEC\u201d) on May 24, 2024, and became effective on June 10, 2024. The registered direct offering of the shares of common stock (or pre-funded warrants in lieu thereof) is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. The prospectus supplement and the accompanying prospectus relating to the shares of common stock (or pre-funded warrants in lieu thereof) being offered in the registered direct offering will be filed with the SEC and be available at the SEC\u2019s website at www.sec.gov<\/a>. Electronic copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may also be obtained, when available, by contacting Rodman & Renshaw LLC at 600 Lexington Avenue, 32nd Floor, New York, NY 10022, by telephone at (212) 540\u20114414, or by email at info@rodm.com<\/a>.<\/p>\n \nThe warrants described above are being issued in a concurrent private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.<\/p>\n \nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.<\/p>\n About Lantern Pharma<\/b><\/p>\n \nLantern Pharma (NASDAQ: LTRN) is a clinical-stage biopharmaceutical company leveraging its proprietary RADR\u00ae artificial intelligence and machine-learning platform to transform the cost, pace, and precision of oncology drug development. By integrating large-scale genomic and biological data with advanced machine learning, RADR\u00ae is designed to identify the patients most likely to benefit from Lantern’s therapies and to guide biomarker-driven clinical development. The company’s pipeline includes LP-184 (zirdafulven), LP-300, and LP-284, along with its central-nervous-system-focused subsidiary, Starlight Therapeutics, and its AI subsidiary, Open Medicine AI. For more information, visit www.lanternpharma.com<\/a>.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, among other things, statements relating to the ability of the Company to consummate the offering, the satisfaction of the closing conditions of the offering, the intended use of proceeds from the offering, the exercise of the warrants prior to their expiration and the receipt of Stockholder Approval.<\/p>\n \nAny statements that are not statements of historical fact (including, without limitation, statements that use words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “model,” “objective,” “aim,” “upcoming,” “should,” “will,” “would,” or the negative of these words or other similar expressions) should be considered forward-looking statements. There are a number of important factors that could cause our actual results to differ materially from those indicated by the forward-looking statements, such as (i) the risk that we may not be able to secure sufficient future funding when needed and as required to advance and support our existing and planned development programs and operations, (ii) the risk that observations in preclinical studies and early or preliminary observations in clinical studies do not ensure that later observations, studies and development will be consistent or successful, (iii) the risk that our research and the research of our collaborators may not be successful, (iv) the risk that our Open-Medicine AI commercialization efforts may not generate the anticipated revenue or achieve the expected market adoption, (v) the risk that implementation of our development plans and new features for Open-Medicine AI may not be successful or may take longer than anticipated for development, completion, and release, (vi) the risk that no drug product based on our proprietary AI platforms has received FDA marketing approval or otherwise been incorporated into a commercial product, (vii) the risk that ongoing partnership and collaborations discussions may not result in definitive agreements on acceptable terms or at all, (viii) market and other conditions, and (ix) technical, scientific, regulatory, financial, competitive, and operational risks and those other factors set forth in the Risk Factors section in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission on March 30, 2026.<\/p>\n \nYou may access our Annual Report on Form 10-K for the year ended December 31, 2025 under the investor SEC filings tab of our website at www.lanternpharma.com<\/a> or on the SEC’s website at www.sec.gov<\/a>. Given these risks and uncertainties, we can give no assurances that our forward-looking statements will prove to be accurate, or that any other results or events projected or contemplated by our forward-looking statements will in fact occur, and we caution investors not to place undue reliance on these statements. All forward-looking statements in this press release represent our judgment as of the date hereof, and, except as otherwise required by law, we disclaim any obligation to update any forward-looking statements to conform the statement to actual results or changes in our expectations.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260929092244\/en\/<\/a><\/span><\/p>\n Media & Investor Contacts KEYWORDS:<\/b> United States North America Texas<\/p>\n INDUSTRY KEYWORDS:<\/b> Oncology Health Technology Health Technology Artificial Intelligence Pharmaceutical Biotechnology<\/p>\n<\/p>\n
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Lantern Pharma \u2014 Investor Relations
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Email: IR@lanternpharma.com
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Phone: (972) 277-1136<\/p>\n
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