LTRN News & Events

Lantern Pharma files to sell 2.24M shares of common stock for holders

Lantern Pharma reported clinical data and updates in the form of a presentation from its ongoing Phase 2 Harmonic trial evaluating LP-300 in combination with carboplatin and pemetrexed in patients with EGFR Exon 21 L858R-mutant non-small cell lung cancer, NSCLC, who have progressed following TKI-based therapy. The emerging dataset reveals a pattern: the progression-free survival benefit of LP-300 deepens with treatment duration, and the signal is most pronounced in the L858R subgroup - a molecularly defined population with a poor prognosis and limited options following frontline TKI therapy. Key highlights: PFS benefit deepens with treatment duration: L858R patients treated through up to six cycles of LP-300 reached an 8.9-month median PFS, versus 8.4 months overall - future patients will be eligible to receive up to 8 doses of LP-300. Durable, deep responses: tumor reduction in over 70% of evaluable L858R patients, responses beyond two years, and a 77% clinical benefit rate. Clean, treatment-enabling safety: no clinically meaningful toxicity beyond chemotherapy, comparing favorably with amivantamab plus chemotherapy on a cross-trial basis.

Lantern Pharma announced that it has received a successful response to its recent Type C meeting request from the U.S. Food and Drug Administration, FDA, focused on the ongoing Phase 2 Harmonic trial of LP-300 in never-smokers with advanced non-small cell lung cancer, NSCLC, adenocarcinoma. In its written responses to Lantern's Type C meeting request, the FDA raised no objections to key proposed protocol amendments, providing a more focused, clearer regulatory path forward for the Harmonic trial and for the future development of LP-300 in this distinct, high-need patient population. "In our view, this successful Type C interaction with the FDA is a meaningful de-risking milestone for the LP-300 program and for the Harmonic trial. The FDA's response to our proposed amendments supports our strategy to focus Harmonic on the EGFR exon 21 L858R-mutant never-smoker population, where emerging data suggest LP-300 may offer meaningful differentiated benefit when added to standard chemotherapy following TKI failure."

Lantern Pharma entered into a definitive agreement for the purchase and sale of an aggregate of 2,135,923 shares of its common stock at a purchase price of $2.06 per share in a registered direct offering. In addition, in a concurrent private placement, the Company will issue unregistered warrants to purchase up to 2,135,923 shares of common stock. The warrants will have an exercise price of $2.27 per share, will be exercisable six months following the initial issuance date, and will expire five years following the initial exercise date. The closing of the offering is expected to occur on or about May 14, 2026, subject to the satisfaction of customary closing conditions. The Company has also communicated plans to create an independent business entity composed of the AI platform, withZeta.ai, and related technologies and personnel under the leadership of CEO Mr. Panna Sharma. The Company intends to separate its public facing clinically trained AI agent into an independent business entity in order to access dedicated funding sources and potentially realize valuation multiples separate from its drug development operations, which such entity the Company anticipates will become a newly listed company on a national stock exchange or market. The Company plans on hosting a separate investor webinar and meeting to provide additional details in the coming month. Rodman & Renshaw LLC is acting as the exclusive placement agent for the offering.