Lanterna Pharma (NASDAQ: LTRN) has closed a registered direct offering, raising approximately $4.4 million in gross proceeds. The offering involved the sale of 2,135,923 shares of common stock (or pre-funded warrants) at $2.06 per share. In a concurrent private placement, the company issued unregistered warrants to purchase up to 2,135,923 additional shares at $2.27 per share, which could generate up to approximately $4.85 million in additional proceeds if fully exercised. The full press release is available at https://ibn.fm/Oh6jI.
This capital injection comes as Lanterna advances its clinical pipeline of precision oncology therapies. The company’s lead candidates include LP-184 (acylfulvene), LP-284 (a TC-NER targeting compound for hematologic and solid tumors), and LP-300 (a cisplatin/ethacraplatin analog) currently being evaluated in the HARMONIC Phase 2 trial for never-smoker patients with relapsed advanced lung adenocarcinoma following TKI treatment. LP-184 is also being developed for pediatric CNS cancers through Starlight Therapeutics, Lanterna’s wholly owned CNS-focused subsidiary.
Beyond its clinical programs, Lanterna is generating new revenue through its Zeta.ai platform, a multi-agentic AI co-scientist platform now commercially available as a subscription-based research tool for the global biomedical and drug development community. The company operates an AI Center of Excellence in Bengaluru, India, and is headquartered in Dallas, Texas. More information about the company is available in its newsroom at https://ibn.fm/LTRN.
The offering strengthens Lanterna’s balance sheet as it continues to leverage its proprietary RADR platform and AI capabilities to transform cancer therapy development. The additional funds are expected to support ongoing clinical trials, research initiatives, and the commercialization of Zeta.ai. Investors and stakeholders can monitor developments through AINewsWire, a specialized communications platform focused on AI advancements, at https://www.AINewsWire.com.
