Lantern Pharma Prices $4M Registered Direct Offering at $1.09 Amid Nasdaq Delisting Notice
LTRN is trading near its 52-week low of $1.01 (7.4% above the low) on elevated volume (2.2× avg).
Summary
Lantern Pharma priced a $4 million registered direct offering at $1.09 per share with pre-funded and purchase warrants, while disclosing a Nasdaq delisting notice for failing the $35 million MVLS requirement.
Updates
· SEC 8-K — The offering closed on September 30, 2026, with gross proceeds of approximately $4.0 million.
Key Events · Financing and Capital Events · LTRN
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Registered Direct Offering Priced
1,469,725 common shares at $1.09 plus 2,200,000 pre-funded warrants at $1.0899 each, for gross proceeds of $3,999,780.25.
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Concurrent Private Placement Warrants
3,669,725 purchase warrants issued at $1.09 exercise price, exercisable only after shareholder approval, with a five-year term.
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Net Proceeds and Use
Approximately $3.60 million net of placement agent fees (7% cash fee, $280,000.02) and expenses, earmarked for working capital and general corporate purposes.
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Nasdaq Delisting Notice
Received September 25, 2026 for MVLS below $35 million for 30 consecutive business days; compliance deadline March 24, 2027.
Analysis · LTRN · Life Sciences
Lantern Pharma finalized a $4 million registered direct offering at $1.09 per share — a price that matches the stock's last reported sale on September 28, 2026. The deal includes 1,469,725 common shares plus 2,200,000 pre-funded warrants, with a concurrent private placement of 3,669,725 purchase warrants exercisable at $1.09 pending shareholder approval. Net proceeds of approximately $3.60 million will fund working capital. Critically, the filing discloses a Nasdaq delisting notice received September 25, 2026, because the company's market value of listed securities fell below the $35 million minimum for 30 consecutive business days. The company has until March 24, 2027 to regain compliance. Against a going-concern warning from the August 10-Q and a market cap of roughly $14 million, this capital raise is survival financing — necessary to extend runway, but highly dilutive to existing holders and executed under the shadow of a potential delisting.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 35.7% of the 1024 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LTRN was trading at $1.09 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $13.9M. The 52-week trading range was $1.01 to $4.70. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.