LTRN

MKT CAP:$28M

Lantern Pharma Inc.

Market Cap

$28M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$2.31-$0.80 (-25.72%)

Apr 23, 2026

Company Details

Lantern Pharma Inc., a clinical stage biotechnology company, focuses on artificial intelligence, machine learning, and genomic data to streamline the drug development process. Its advanced drug candidate is LP-100, which is in phase II clin...

CEO

Panna Sharma

IPO Date

Jun 11, 2020

Website

www.lanternpharma.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$19M

EPS (Diluted)

-$1.75

Free Cash Flow

-$17M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q4 2025

May 14, 2026

PENDING

Q3 2025

Nov 12, 2025

$0EPS -$0.39

Q2 2025

Aug 13, 2025

$0EPS -$0.40

Q1 2025

May 15, 2025

$0EPS -$0.42

FY 2024

Mar 27, 2025

$0EPS -$1,930.92

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$0	$0	-$4M
Q1 22	$0	$0	-$4M
Q2 22	$0	$0	-$4M
Q3 22	$0	$0	-$2M
Q4 22	$0	$0	-$4M
Q1 23	$0	$0	-$4M
Q2 23	$0	$0	-$5M
Q3 23	$0	$0	-$4M
Q4 23	$0	-$44.3K	-$5M
Q1 24	$0	$0	-$6M
Q2 24	$0	$0	-$5M
Q3 24	$0	$0	-$5M
Q4 24	$0	-$51.2K	-$6M
Q1 25	$0	$0	-$5M
Q2 25	$0	$0	-$5M
Q3 25	$0	-$4.1K	-$4M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	-$2M	-$2M
Q1 22	-$3M	-$3M
Q2 22	-$3M	-$3M
Q3 22	-$4M	-$4M
Q4 22	-$3M	-$3M
Q1 23	-$4M	-$4M
Q2 23	-$4M	-$4M
Q3 23	-$4M	-$4M
Q4 23	-$3M	-$3M
Q1 24	-$3M	-$3M
Q2 24	-$5M	-$5M
Q3 24	-$6M	-$6M
Q4 24	-$4M	-$4M
Q1 25	-$4M	-$4M
Q2 25	-$4M	-$4M
Q3 25	-$5M	-$5M

Capital Expenditures

Quarter	CapEx
Q4 21	$2
Q1 22	$0
Q2 22	$14.2K
Q3 22	$6.7K
Q4 22	$7.0K
Q1 23	$8.9K
Q2 23	$1
Q3 23	$4.8K
Q4 23	$5.1K
Q1 24	$2.2K
Q2 24	$4.3K
Q3 24	$3.0K
Q4 24	$3.1K
Q1 25	$1.2K
Q2 25	$3
Q3 25	$560

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	—	+21.2%
Q1 22	—	+65.8%
Q2 22	—	+77.3%
Q3 22	—	-48.3%
Q4 22	—	+9.0%
Q1 23	—	+5.4%
Q2 23	—	+18.1%
Q3 23	—	+64.3%
Q4 23	—	+27.5%
Q1 24	—	+33.7%
Q2 24	—	+4.2%
Q3 24	—	+47.0%
Q4 24	—	+20.9%
Q1 25	—	-16.7%
Q2 25	—	-14.0%
Q3 25	—	-16.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$0	—
Q1 22	$267.0K	—
Q2 22	$289.5K	—
Q3 22	$301.1K	—
Q4 22	$330.1K	—
Q1 23	$333.5K	—
Q2 23	$0	—
Q3 23	$190.8K	—
Q4 23	$150.8K	—
Q1 24	$134.1K	—
Q2 24	$134.2K	—
Q3 24	$179.2K	—
Q4 24	$285.5K	—
Q1 25	$147.8K	—
Q2 25	$160.6K	—
Q3 25	$143.7K	—

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 21	$2M	$1M	$38.0K	—
Q1 22	$3M	$1M	$39.0K	—
Q2 22	$3M	$1M	—	—
Q3 22	$702.3K	$1M	—	—
Q4 22	$2M	$2M	—	—
Q1 23	$3M	$2M	—	—
Q2 23	$4M	$2M	$72.0K	—
Q3 23	$2M	$1M	$49.0K	—
Q4 23	$4M	—	—	$1M
Q1 24	$4M	$1M	$49.5K	—
Q2 24	$4M	$2M	—	—
Q3 24	$4M	$1M	$53.1K	—
Q4 24	$4M	—	—	$2M
Q1 25	$3M	$1M	$57.8K	—
Q2 25	$3M	$2M	$57.8K	—
Q3 25	$2M	—	—	$2M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$52M	$19M	$71M
Q1 22	$47M	$19M	$65M
Q2 22	$43M	$19M	$62M
Q3 22	$40M	$19M	$58M
Q4 22	$37M	$18M	$55M
Q1 23	$33M	$19M	$52M
Q2 23	$28M	$20M	$48M
Q3 23	$26M	$19M	$45M
Q4 23	$22M	$19M	$41M
Q1 24	$18M	$20M	$38M
Q2 24	$13M	$20M	$33M
Q3 24	$8M	$20M	$28M
Q4 24	$8M	$17M	$24M
Q1 25	$6M	$13M	$20M
Q2 25	$6M	$10M	$16M
Q3 25	$8M	$4M	$12M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	11M	0.0%	+79.9%
Q1 22	11M	-2.8%	+8.0%
Q2 22	11M	-0.4%	-3.1%
Q3 22	11M	+0.1%	-3.1%
Q4 22	11M	+0.1%	-3.0%
Q1 23	11M	+0.0%	-0.2%
Q2 23	11M	0.0%	+0.2%
Q3 23	11M	+0.0%	+0.2%
Q4 23	11M	-0.5%	-0.5%
Q1 24	11M	-0.5%	-1.1%
Q2 24	11M	+0.1%	-0.9%
Q3 24	11M	+0.0%	-0.9%
Q4 24	11M	+0.2%	-0.2%
Q1 25	11M	0.0%	+0.4%
Q2 25	11M	0.0%	+0.2%
Q3 25	11M	+0.5%	+0.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$0	14
Q1 22	$0	14
Q2 22	$0	14
Q3 22	$0	14
Q4 22	$0	100
Q1 23	$0	100
Q2 23	$0	100
Q3 23	$0	100
Q4 23	$0	21
Q1 24	$0	21
Q2 24	$0	21
Q3 24	$0	21
Q4 24	$0	100
Q1 25	$0	100
Q2 25	$0	100
Q3 25	$0	100

Revenue / Employee