Curated News
By: NewsRamp Editorial Staff
September 29, 2026
Lantern Pharma Secures $4M in Registered Direct Offering
TLDR
- Lantern Pharma raised $4 million at $1.09 per share, offering investors a low entry point in an AI-driven oncology biotech.
- Lantern Pharma will issue 3,669,725 shares at $1.09 per share, plus warrants for the same number, closing by Sept. 30, 2026.
- Lantern Pharma's AI platform RADR aims to speed oncology drug development, potentially bringing better treatments to patients faster.
- Lantern Pharma uses machine learning to identify patients most likely to benefit from its cancer therapies, making drug development more precise.
Impact - Why it Matters
This funding provides Lantern Pharma with additional capital to advance its AI-driven oncology pipeline, which includes promising candidates like LP-184 and LP-300. The involvement of Rodman & Renshaw and the concurrent private placement structure demonstrate investor confidence in the company's RADR platform, potentially accelerating the development of precision cancer therapies and creating value for shareholders. As the biotech sector increasingly embraces AI for drug discovery, Lantern's progress could signal broader industry trends and offer new hope for patients with hard-to-treat cancers.
Summary
Lantern Pharma (NASDAQ: LTRN), a clinical-stage biopharmaceutical company at the forefront of AI-driven oncology drug development, has announced a definitive agreement for a registered direct offering of 3,669,725 shares of common stock, or pre-funded warrants in lieu thereof, at $1.09 per share. This offering is expected to generate approximately $4 million in gross proceeds. In a concurrent private placement, the company will issue unregistered warrants to purchase up to an additional 3,669,725 shares at an exercise price of $1.09 per share, potentially raising another $4 million in gross proceeds if fully exercised for cash. The offering is set to close on or about September 30, 2026, subject to customary closing conditions, with Rodman & Renshaw LLC acting as the exclusive placement agent.
Lantern Pharma plans to use the net proceeds for working capital and general corporate purposes. The unregistered warrants will become exercisable subject to stockholder approval and will expire five years following that approval. This capital infusion comes as Lantern continues to advance its proprietary RADR artificial intelligence and machine-learning platform, which is designed to transform the cost, pace, and precision of oncology drug development by integrating large-scale genomic and biological data to identify patients most likely to benefit from its therapies. 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 details, the full press release can be viewed at https://ibn.fm/PCJbt. The latest news and updates relating to LTRN are available in the company’s newsroom at https://ibn.fm/LTRN. This announcement was disseminated through InvestorWire, a specialized communications platform known for advanced wire-grade press release syndication, which is part of the Dynamic Brand Portfolio @ IBN, delivering access to a vast network of wire solutions, editorial syndication to 5,000+ outlets, press release enhancement, social media distribution, and tailored corporate communications solutions.
Source Statement
This curated news summary relied on content distributed by InvestorBrandNetwork (IBN). Read the original source here, Lantern Pharma Secures $4M in Registered Direct Offering
