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.
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.
Key Financial Metrics
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
Investment Themes
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 | ||||
|---|---|---|---|---|---|
Oct 19, 2026 8d ago | DEF 14A | $0.6564 | awaiting T+60 | — | $0.6400 (+2.50%) |
Oct 13, 2026 14d ago | SC 13G/A | $0.7107 | awaiting T+60 | — | $0.6400 (−9.95%) |
Oct 1, 2026 26d ago | 8-K | $0.8601 | awaiting T+60 | — | $0.6400 (+25.59%) |
Sep 30, 2026 27d ago | 8-K | $1.00 | awaiting T+60 | — | $0.6400 (+36.00%) |
Sep 30, 2026 27d ago | 424B5 | $1.01 | awaiting T+60 | — | $0.6400 (+36.63%) |
Sep 23, 2026 4w ago | 8-K | $1.21 | awaiting T+60 | — | $0.6400 (−47.11%) |
Sep 23, 2026 4w ago | 8-K | $1.39 | awaiting T+60 | — | $0.6400 (−53.96%) |
Aug 14, 2026 10w ago | 8-K | $2.65 | awaiting T+60 | — | $0.6400 (−75.85%) |
Jun 22, 2026 18w ago | EFFECT | $3.88 $1.70 | ▲ +56.19% | ▲ +57.93% | $0.6400 (+83.51%) |
May 15, 2026 23w ago | 8-K | $3.00 $2.66 | ▼ −11.33% | ▼ −16.18% | $0.6400 (−78.67%) |
US Market Status
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