--- title: "Lantern Pharma sets up $15,530,000 at-the-market stock program with ThinkEquity" url: "https://aibio.space/news/lantern-pharma-sets-up-15-530-000-market-stock-program-thinkequity/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-07-03" section: "Financings" tickers: "NASDAQ:LTRN" source: "https://www.sec.gov/Archives/edgar/data/1763950/000164117225017790/form424b5.htm" summary: "ThinkEquity LLC will earn a 3.0% commission on shares sold. Lantern's public float was $46,607,112 as of July 3, 2025, which limits sales to one-third of t" --- By the aibio.space news desk. Sources - [Lantern Pharma Inc. 424B5 (2025-07-03)](https://www.sec.gov/Archives/edgar/data/1763950/000164117225017790/form424b5.htm) - [Lantern Pharma Inc. 8-K (2025-07-03)](https://www.sec.gov/Archives/edgar/data/1763950/000164117225017810/form8-k.htm) [LTRN](https://aibio.space/companies/lantern-pharma/) 2025-07-03 # Lantern Pharma sets up $15,530,000 at-the-market stock program with ThinkEquity Tickers [LTRN](https://aibio.space/companies/lantern-pharma/) ThinkEquity LLC will earn a 3.0% commission on shares sold. Lantern's public float was $46,607,112 as of July 3, 2025, which limits sales to one-third of that float in any 12-month period while the float stays below $75 million. ## Key facts - **Company**: Lantern Pharma Inc. (NASDAQ: LTRN) - **News type**: Financings - **Primary source**: [Lantern Pharma Inc. 424B5 (2025-07-03)](https://www.sec.gov/Archives/edgar/data/1763950/000164117225017790/form424b5.htm) *Glass office towers seen from below. CC0, via rawpixel. The picture shows the field, not the companies named.* Lantern Pharma Inc. (Nasdaq: [LTRN](https://aibio.space/companies/lantern-pharma/)) entered into an ATM Sales Agreement with ThinkEquity LLC on July 3, 2025, under which it may sell up to $15,530,000 of common stock from time to time. The sales are made under a prospectus supplement dated July 3, 2025, filed under shelf registration No. 333-279718 with a base prospectus dated June 10, 2024. The company reported the agreement in a Form 8-K the same day under Item 1.01. ### Terms for the agent and the lawyers ThinkEquity LLC is the sales agent. Lantern pays it a commission of 3.0% of the gross sales price of shares sold, plus certain expenses the prospectus says the company reimburses. The agent acts as agent or principal using commercially reasonable efforts and is not required to sell any specific amount. Either side may end the agreement on ten days' prior written notice. The prospectus also says the agent may later provide advisory, investment and commercial banking services for customary fees. Blank Rome LLP of New York is counsel for the sales agent. Greenberg Traurig, LLP of Irvine, California, passes on the validity of the securities for Lantern. ### The float cap and the share count The prospectus caps the program by the company's size. As of July 3, 2025, the public float was $46,607,112, based on 10,784,725 shares and a price of $4.34 per share, the price at which the stock last sold on May 7, 2025. While the float stays below $75 million, the company may not sell securities under the shelf worth more than one-third of its public float in any 12-month period. The last reported sale on July 2, 2025 was at $3.18 per share. The post-offering share count is based on the 10,784,725 shares outstanding on July 2, 2025. The company also excludes 1,239,766 shares issuable on exercise of outstanding options, at a weighted-average exercise price of $5.72 per share, and 429,621 shares reserved for future grants under its Amended and Restated 2018 Equity Incentive Plan. The prospectus says it is not possible to predict how many shares will be sold or the gross proceeds from them. ### Cash and runway As of March 31, 2025, Lantern had total assets of approximately $21.1 million and working capital of approximately $16.5 million. Working capital included approximately $20 million of cash, cash equivalents and marketable securities. The company says cash on hand will fund its operating plan at least into June 2026. It also says it will need additional capital to fund further operations, and that it may be unable to continue operations if financing is not available on satisfactory terms. The company intends to seek more funds through several sources, including sales under this agreement, and says those funds may not be available on commercially reasonable terms. ### The business and its risks Lantern describes itself as an artificial intelligence focused company developing cancer therapies. Its three lead small-molecule candidates are LP-300, LP-184 and LP-284, each in clinical programs. A subsidiary, Starlight Therapeutics, focuses on central nervous system and brain cancers. The company says its RADR platform draws on more than 100 billion data points, and it owns or controls over 195 active patents and patent applications across 15 patent families. The prospectus says the portfolio consists of small molecules that others have tried, but failed, to develop into an approved drug, along with new compounds. It describes LP-184 and LP-284 as being in the investigational stage. Lantern contracted with foreign manufacturers outside China for quantities of both, and says tariffs have had only a limited effect on those supplies so far, and says there can be no assurance that tariffs will not later reach overseas services. [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 Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/lantern-pharma-sets-up-15-530-000-market-stock-program-thinkequity/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Lantern Pharma sets up $15,530,000 at-the-market stock program with ThinkEquity", 2025-07-03, https://aibio.space/news/lantern-pharma-sets-up-15-530-000-market-stock-program-thinkequity/