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LTRN

Lantern Pharma Inc.

LTRN

Lantern Pharma Inc. • NASDAQ
$3.62 ▼ -4.74% (-0.18)
Market Cap $40.49 M
52w High $6.12
52w Low $2.55
Dividend Yield 0%
P/E -2.07
Volume 35.78K
Outstanding Shares 11.18M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $4.346M ▼ $-4.177M ▲ 0% $-0.39 ▲ $-4.173M ▲
Q2-2025 $0 $4.652M ▼ $-4.331M ▲ 0% $-0.4 ▲ $-4.647M ▲
Q1-2025 $0 $4.774M ▼ $-4.537M ▲ 0% $-0.42 ▲ $-4.769M ▲
Q4-2024 $0 $5.845M ▲ $-5.875M ▼ 0% $-0.54 ▼ $-5.824M ▼
Q3-2024 $0 $5.18M $-4.506M 0% $-0.42 $-5.175M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $12.363M ▼ $13.627M ▼ $4.04M ▼ $9.587M ▼
Q2-2025 $15.902M ▼ $17.42M ▼ $4.898M ▲ $12.522M ▼
Q1-2025 $19.722M ▼ $21.096M ▼ $4.32M ▼ $16.776M ▼
Q4-2024 $24.013M ▼ $25.572M ▼ $4.384M ▲ $21.188M ▼
Q3-2024 $28.054M $30.293M $3.695M $26.598M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-4.177M ▲ $-4.572M ▼ $5.929M ▲ $971.781K ▲ $2.328M ▲ $-4.573M ▼
Q2-2025 $-4.331M ▲ $-3.937M ▲ $3.593M ▲ $0 $-316.194K ▲ $-3.937M ▲
Q1-2025 $-4.537M ▲ $-4.376M ▼ $3.239M ▼ $0 $-1.133M ▼ $-4.377M ▼
Q4-2024 $-5.875M ▼ $-3.972M ▲ $3.447M ▲ $0 ▼ $-591.74K ▲ $-3.975M ▲
Q3-2024 $-4.506M $-5.582M $680.345K $11.994K $-4.874M $-5.585M

Five-Year Company Overview

Income Statement

Income Statement Lantern is still a classic early-stage biotech story: no product revenue yet and ongoing operating losses each year. The losses look relatively stable rather than exploding, suggesting a controlled, research-focused cost base rather than heavy commercial spending. Earnings per share remain negative and have been gradually worsening, which is typical as the company funds R&D and clinical trials before any drugs reach the market. Overall, the income statement shows a company investing in development, not one that is yet built for profitability or sales growth.

Balance Sheet

Balance Sheet The balance sheet is small but fairly clean. The company holds a meaningful portion of its assets in cash and has no debt, which reduces financial risk and interest costs. Assets and equity have drifted down over time, which reflects the use of cash to fund operations and R&D. The key takeaway is that Lantern is equity-funded, with a simple capital structure, but it is gradually drawing down its resources and will likely remain dependent on future capital raises unless it develops new income sources.

Cash Flow

Cash Flow Cash flows are negative from operations, driven by research expenses, clinical development, and general corporate costs. Capital spending is minimal, which fits a software-and-science-heavy model rather than a manufacturing-heavy one. Free cash flow is consistently negative, meaning the company is consuming cash rather than generating it. The burn rate looks steady rather than sharply accelerating, but the pattern underscores a clear need for ongoing access to financing as the pipeline advances.

Competitive Edge

Competitive Edge Lantern’s edge centers on its RADR AI platform and its tight focus on oncology. By specializing in cancer and building very large, curated datasets, the company tries to create a feedback loop: more data improves the algorithms, better predictions improve trial design, and successful trials add yet more data. This creates a potential data and know‑how moat that is not easy for new entrants to copy quickly. Lantern also develops its own drug pipeline, which deepens integration between the AI platform and clinical work. However, it competes in a crowded field that includes both traditional cancer drug developers and other AI‑driven platforms, many of which are larger and better funded. Its competitive position will be tested by how well its clinical results and partnerships validate the RADR approach in practice.

Innovation and R&D

Innovation and R&D Innovation is clearly the center of Lantern’s strategy. The RADR platform uses machine learning on very large cancer datasets to identify which patients are most likely to respond to specific drugs, to repurpose previously shelved compounds, and to design combination therapies. This offers the potential to shorten early development timelines and improve trial success rates. The pipeline reflects this: multiple drug candidates across solid tumors and blood cancers, including programs with fast track and rare pediatric designations, indicate a focus on hard‑to‑treat, high‑need areas. R&D is relatively lean and software‑heavy, pursued with a small team, which may keep costs more manageable. The main risk is that, despite the sophisticated technology, biotech outcomes still depend on uncertain clinical and regulatory results; even strong AI signals must ultimately be confirmed in human trials.

Summary

Lantern Pharma is a small, clinical‑stage oncology company built around an AI platform rather than traditional wet‑lab discovery. Financially, it is pre‑revenue, loss‑making, and reliant on cash reserves that have been gradually drawn down, though it operates without debt and with a relatively controlled cost profile. Strategically, its strengths lie in its RADR AI engine, focused oncology data, and a diversified pipeline spanning several cancer types, some with regulatory designations that can help speed development. The flip side is the usual high‑risk, high‑uncertainty nature of early‑stage biotech: success hinges on future clinical data, regulatory milestones, and ongoing access to capital before any commercial revenue appears. Overall, Lantern represents an innovation‑driven, still‑experimental business model that is trying to turn AI‑guided drug development into real‑world cancer therapies, with both significant potential and substantial execution risk.

NEWS

November 13, 2025 · 8:30 AM UTC

Lantern Pharma Reports Third Quarter 2025 Financial Results and Provides Business Updates

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November 6, 2025 · 8:00 AM UTC

Lantern Pharma to Report Third Quarter 2025 Operating & Financial Results on November 13th, 2025 at 9:00 a.m. ET

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October 30, 2025 · 8:00 AM UTC

Lantern Pharma to Present AI-Driven Cancer Drug Development & Research Platforms at Inaugural AI for Biology and Medicine Symposium at UNT

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October 28, 2025 · 8:49 AM UTC

Lantern Pharma Presents LP-284 Clinical Data at 25th LL&M Congress, Highlighting Complete Response in Therapeutically Exhausted DLBCL Patient & Therapeutic Potential in Advanced B-Cell Cancers.

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October 24, 2025 · 8:00 AM UTC

Lantern Pharma to Present at the ThinkEquity Conference in NYC on October 30, 2025

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