--- title: "Lantern Pharma gets Nasdaq notice over $35,000,000 market value rule" url: "https://aibio.space/news/lantern-pharma-gets-nasdaq-notice-35-000-000-market-value-rule/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-10-01" section: "Listings" tickers: "NASDAQ:LTRN" source: "https://www.sec.gov/Archives/edgar/data/1763950/000149315226045344/form8-k.htm" summary: "Lantern has until March 24, 2027 to restore the $35,000,000 market value minimum after a Nasdaq notice dated September 25, 2026. Its 2025 net loss was $17." --- By the aibio.space news desk. Sources - [Lantern Pharma Inc. 8-K (2026-10-01)](https://www.sec.gov/Archives/edgar/data/1763950/000149315226045344/form8-k.htm) [LTRN](https://aibio.space/companies/lantern-pharma/) 2026-10-01 # Lantern Pharma gets Nasdaq notice over $35,000,000 market value rule Tickers [LTRN](https://aibio.space/companies/lantern-pharma/) Lantern has until March 24, 2027 to restore the $35,000,000 market value minimum after a Nasdaq notice dated September 25, 2026. Its 2025 net loss was $17.1 million. ## Key facts - **Company**: Lantern Pharma Inc. (NASDAQ: LTRN) - **News type**: Listings - **Primary source**: [Lantern Pharma Inc. 8-K (2026-10-01)](https://www.sec.gov/Archives/edgar/data/1763950/000149315226045344/form8-k.htm) *Marble steps and columns of a supreme court building. CC0, via rawpixel. The picture shows the field, not the companies named.* Lantern Pharma Inc. (Nasdaq: [LTRN](https://aibio.space/companies/lantern-pharma/)) received a notice from The Nasdaq Stock Market LLC on September 25, 2026 saying it is not in compliance with Nasdaq Listing Rule 5550(b)(2). The company disclosed the notice in a Form 8-K dated October 1, 2026, under Item 3.01. The rule sets a minimum market value of listed securities, and Lantern's market value had been below the $35,000,000 minimum for the last 30 consecutive business days. The Dallas company's shares trade on the Nasdaq Capital Market. ### What Nasdaq requires now Nasdaq gave Lantern 180 calendar days from the notice, or until March 24, 2027, to regain compliance. Under the market value test, its listed securities must close at $35,000,000 or more for at least 10 consecutive business days during that period. If the company does not regain compliance, it expects Nasdaq to send a notice that its securities are subject to delisting from the Nasdaq Capital Market. Nasdaq also noted that Lantern does not meet the requirements of Listing Rules 5550(b)(1) and 5550(b)(3). The 8-K does not describe a plan to regain compliance, and it does not give the company's current market value or share price, so the size of the gap to the minimum cannot be measured from the filing. ### A thin cash position The annual report, filed March 30, 2026, gives a 2025 net loss of $17.1 million, against $20.8 million in 2024. Cash used in operations was $15.7 million in 2025, down from $17.8 million in 2024. Research and development expense was $11.5 million in 2025, compared with $16.1 million the year before. Year-end 2025 cash and cash equivalents were $4.4 million, with short-term investments of $5.7 million. At year-end 2024 the company held $7.5 million in cash and cash equivalents and $16.5 million in short-term investments. A quarterly report filed August 14, 2026 gives cash and cash equivalents of $6.7 million at June 30, 2026, and short-term investments of $701,085 on that date. Those balances are small beside the $15.7 million of cash used in operations in 2025. ### The business behind the listing Lantern describes itself as an artificial intelligence focused company dedicated to developing cancer therapies. The annual report says it has three clinical-stage oncology product candidates, LP-300, LP-184 and LP-284, and that they consist of small molecules that others have tried, but failed, to develop into an approved commercialized drug. Its strategy also includes drug rescue. The annual report cites scientific literature defining that as research on abandoned small molecules and biologics not approved by the FDA, and says such compounds are often dropped because they do not prove effective for the use they were developed for. The company says it plans to identify its own candidates and rescue old ones with its RADR platform, which it says now covers more than 200 billion oncology-focused data points and more than 200 machine learning algorithms. It says new programs typically reach first-in-human trials in 2-3 years at approximately $1.0-$2.5 million per program. That is the company's claim, not a result the filing reports. For LP-184, the FDA cleared two Phase 1b/2 investigational new drug applications in 2025. The first planned trial would test the drug in recurrent triple negative breast cancer, alone and with the PARP inhibitor olaparib. The second would test it in non-small cell lung cancer patients with KEAP1 or STK11 mutations and low PD-L1 expression, alongside nivolumab and ipilimumab. The annual report gives a market opportunity estimated to exceed $2 billion annually for that lung population. It describes both trials as planned. Starlight Therapeutics, a wholly owned subsidiary, focuses on central nervous system and brain cancers. In January 2026 the company introduced withZeta.ai, a generative AI platform for rare cancer research. The annual report says the platform is meant to dramatically improve research quality and reduce R&D costs. Those are the company's stated aims for the product. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story LTRN Lantern Pharma Inc. NASDAQ ยท United States Open the starter desk ## More in Listings Listings ### [Propanc Biopharma faces Nasdaq delisting on bid price, plans to appeal](https://aibio.space/news/propanc-biopharma-faces-nasdaq-delisting-bid-price-plans-appeal/) Oct 29, 2026 Listings ### [Reviva asks stockholders to approve reverse split of up to 1-for-100](https://aibio.space/news/reviva-asks-stockholders-approve-reverse-split-up-1-100/) Oct 29, 2026 Listings ### [Nasdaq to delist Glucotrack shares after bid price exception ends](https://aibio.space/news/nasdaq-delist-glucotrack-shares-after-bid-price-exception-ends/) Oct 28, 2026 --- Source page: https://aibio.space/news/lantern-pharma-gets-nasdaq-notice-35-000-000-market-value-rule/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Lantern Pharma gets Nasdaq notice over $35,000,000 market value rule", 2026-10-01, https://aibio.space/news/lantern-pharma-gets-nasdaq-notice-35-000-000-market-value-rule/