Lantern Pharma Announces Closing of Initial Public Offering
June 15 2020 - 3:53PM
Lantern Pharma Inc. (LTRN) (the “Company”), a clinical stage
biotechnology company, focused on leveraging artificial
intelligence (“A.I.”), machine learning and genomic data to
streamline the drug development process and to identify the
patients that will benefit from its targeted oncology therapies,
today announced the closing of its initial public offering of
1,750,000 shares of its common stock at a public offering price of
$15.00 per share, for gross proceeds of $26,250,000, before
deducting underwriting discounts, commissions and offering
expenses. In addition, the Company has granted the underwriters a
45-day option to purchase up to an additional 262,500 shares of
common stock at the initial public offering price, less the
underwriting discount, to cover over-allotments.
ThinkEquity, a division of Fordham Financial Management, Inc.
acted as sole book-running manager for the offering. Colliers
Securities LLC and Paulson Investment Company, LLC acted as
co-managers for the offering.
Registration statements on Form S-1 (Files No.
333-237714 and 333-239112)
relating to the shares were filed with the Securities and Exchange
Commission (“SEC”) and became effective on June 10, 2020, or
automatically became effective, as applicable. This offering is
being made only by means of a prospectus. Copies of the final
prospectus may be obtained from ThinkEquity, a division of Fordham
Financial Management, Inc., 17 State Street, 22nd Floor, New York,
New York 10004, by telephone at (877) 436-3673, by email at
prospectus@think-equity.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Lantern Pharma Inc.
Lantern Pharma Inc. (LTRN) is a clinical stage biotechnology
company, focused on leveraging artificial intelligence (“A.I.”),
machine learning and genomic data to streamline the drug
development process and to identify the patients that will benefit
from our targeted oncology therapies. Our portfolio of therapies
consists of small molecules that others have tried, but failed, to
develop into an approved commercialized drug, as well as new
compounds that we are developing with the assistance of our A.I.
platform and our biomarker driven approach. Our A.I. platform,
known as RADR®, currently includes more than 275 million data
points, and uses big data analytics (combining molecular data, drug
efficacy data, data from historical studies, data from scientific
literature, phenotypic data from trials and publications, and
mechanistic pathway data) and machine learning to rapidly uncover
biologically relevant genomic signatures correlated to drug
response, and then identify the cancer patients that we believe may
benefit most from our compounds. This data-driven,
genomically-targeted and biomarker-driven approach allows us to
pursue a transformational drug development strategy that
identifies, rescues or develops, and advances potential small
molecule drug candidates at what we believe is a fraction of the
time and cost associated with traditional cancer drug
development.
Forward Looking Statements
Statements in this press release contain “forward-looking
statements” that are subject to substantial risks and
uncertainties. All statements, other than statements of historical
fact, contained in this press release are forward-looking
statements. Forward-looking statements contained in this press
release may be identified by the use of words such as “anticipate,”
“believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,”
“seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,”
“target,” “aim,” “should,” "will” “would,” or the negative of these
words or other similar expressions, although not all
forward-looking statements contain these words. Forward-looking
statements are based on Lantern Pharma Inc.’s current expectations
and are subject to inherent uncertainties, risks and assumptions
that are difficult to predict. Further, certain forward-looking
statements are based on assumptions as to future events that may
not prove to be accurate. These and other risks and uncertainties
are described more fully in the section titled “Risk Factors” in
the final prospectus related to the public offering filed with the
Securities and Exchange Commission. Forward-looking statements
contained in this announcement are made as of this date, and
Lantern Pharma Inc. undertakes no duty to update such information
except as required under applicable law.
Contact:
Kyle EvansPublic relationse: lantern@fischtankpr.comp:
646-699-1414
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