LTRN Lantern Pharma Inc.
Price Chart
Executive Summary
Lantern Pharma reported Q1 2026 net loss of $3.3M ($0.30/share), a 27% YoY improvement from $4.5M ($0.42), driven by 47% lower R&D spend. Operationally, the company achieved a successful FDA Type C meeting for the LP-300 HARMONIC trial, cleared an IND for Starlight's pediatric CNS trial, and commercially launched withZeta.ai with plans to spin it off. However, the May 14 dilutive $4.4M offering (plus $9.25M potential warrants) and continued cash burn (cash $6.3M post-offering extends runway to mid-Q1 2027) temper the positive milestones.
Actionable Insight
Focus on the June investor webinar for withZeta.ai spin-off details and potential partnership revenue. Monitor whether the FDA's LP-300 feedback translates to faster enrollment and data readouts in H2 2026. The dilutive overhang from warrants (2.1M shares at $2.27) may pressure the stock near term.
Key Facts
- Q1 2026 net loss improved 27% YoY to $3.3M ($0.30/share) vs $4.5M ($0.42)
- R&D expenses fell 47% YoY to $1.7M; G&A up 11% to $1.7M
- Cash, cash equivalents and marketable securities $6.3M at March 31, 2026; pro forma $10.7M after May 14 offering
- FDA Type C meeting resulted in no objections to LP-300 HARMONIC protocol amendments
- Plan to spin off withZeta.ai into independent entity announced
- May 14 registered direct offering raised $4.4M gross; includes 2.1M warrants at $2.27/share
Financial Impact
Net loss improvement of $1.2M (27% reduction) QoQ; R&D spend cut by $1.5M (47%)
Risk Factors
- Going concern risk; cash runway only through mid-Q1 2027
- Dilution from May 2026 offering and outstanding warrants
- Clinical trial execution and regulatory risks for LP-300, LP-184, STAR-001
- withZeta.ai spin-off may not materialize as planned
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-023758 |
| Document: form8-k.htm | 0001493152-26-023758 |
| Document: 0001493152-26-023758-index-headers.html | 0001493152-26-023758 |
| Document: 0001493152-26-023758-index.html | 0001493152-26-023758 |
| Document: 0001493152-26-023758.txt | 0001493152-26-023758 |
| 8-K Data (Synthetic) | 0001493152-26-023758 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 15, 2026
28d ago
|
8-K
| $3.00 $3.38 | ▲ +12.67% | ▲ +11.05% | $3.88 (+29.33%) |
|
May 14, 2026
29d ago
|
8-K
| $3.14 $3.50 | ▼ −11.46% | ▼ −10.50% | $3.88 (−23.57%) |
|
May 14, 2026
4w ago
|
424B5
| $3.13 $3.32 | ▼ −6.07% | ▼ −6.79% | $3.88 (−23.96%) |
|
Apr 10, 2026
9w ago
|
8-K
| $1.97 $2.49 | ▲ +26.40% | ▲ +21.89% | $3.88 (+96.95%) |
|
Mar 30, 2026
10w ago
|
424B5
| $1.37 $1.94 | ▼ −41.61% | ▼ −37.66% | $3.88 (−183.21%) |
|
Mar 30, 2026
10w ago
|
8-K
| $1.37 $1.94 | ▼ −41.61% | ▼ −37.66% | $3.88 (−183.21%) |
US Market Status
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