Lantern Pharma Reports $17.12 Million Net Loss and Decreased R&D Expenses for 2025

Here is a fact-based news article summarizing the provided 10-K filing for Lantern Pharma Inc.:

Lantern Pharma Inc., an AI-driven oncology company, reported a net loss of $17.12 million for the year ended December 31, 2025, compared to a net loss of $20.78 million for the previous year. The company's research and development expenses decreased by 29% to $11.51 million, while general and administrative expenses increased by 6% to $6.46 million. The decrease in research and development expenses was primarily due to reduced spending on research studies and materials, as well as lower payroll and compensation expenses.

As of December 31, 2025, Lantern Pharma's cash and cash equivalents totaled $4.42 million, and marketable securities amounted to $5.70 million. The company's management estimates that these resources will be sufficient to fund operations until approximately late July 2026 to mid September 2026. To secure additional funding, Lantern Pharma has an active "at-the-market" (ATM) offering, through which it sold 356,922 shares of common stock during 2025, generating gross proceeds of $1.62 million. The company also plans to pursue periodic capital raises and apply for grant funding.

Operationally, Lantern Pharma continued to advance its three lead drug candidates: LP-300, LP-184, and LP-284, all of which are in clinical development. The company is conducting a Phase 2 clinical trial for LP-300 in never-smoking patients with non-small cell lung cancer (NSCLC). Enrollment has been completed in a Phase 1a clinical trial for LP-184, and development plans are being optimized for future clinical studies. LP-284 is currently in a Phase 1 clinical trial. The company also continues to advance its Antibody Drug Conjugate (ADC) program, leveraging its proprietary RADR® AI platform. In January 2026, Lantern Pharma introduced withZeta.ai, a generative AI platform designed to accelerate rare cancer research and drug development.

The company's future success is contingent upon securing additional funding, successfully completing clinical trials, obtaining regulatory approvals, and achieving market acceptance for its drug candidates. Lantern Pharma acknowledges the inherent risks and uncertainties associated with drug development, including potential delays, adverse side effects, and competition from other therapies. The company also emphasizes its reliance on third-party manufacturers and CROs, as well as the need to protect its intellectual property rights. The report from the company's independent registered public accounting firm included an emphasis of matter paragraph regarding substantial doubt about the company's ability to continue as a going concern in the absence of obtaining substantial additional funding.