DALLAS, Jan. 14, 2021 /PRNewswire/ -- Lantern Pharma
(Nasdaq: LTRN), a clinical-stage biopharma company using its
proprietary RADR® artificial intelligence ("A.I.")
platform to transform cancer drug development and identify patients
who will benefit from its targeted oncology therapeutics, today
announced the pricing of a public offering of 4,285,715 shares of
its common stock at a public offering price of $14.00 per share, for gross proceeds of
$60 million, before deducting
underwriting discounts and offering expenses. In addition, Lantern
Pharma has granted the underwriters a 45-day option to purchase up
to an additional 642,856 shares of common stock at the public
offering price, less the underwriting discount, to cover
over-allotments. All of the shares of common stock are being
offered by Lantern Pharma.
The offering is expected to close on January 20, 2021, subject to satisfaction of
customary closing conditions.
ThinkEquity, a division of Fordham Financial Management, Inc.,
is acting as sole book-running manager for the offering.
Colliers Securities LLC is acting as co-manager for the
offering.
A registration statement on Form S-1 (File No. 333-251992)
relating to the shares was filed with the Securities and Exchange
Commission ("SEC") and became effective on January 14, 2021. This offering is being
made only by means of a prospectus. Copies of the final prospectus,
when available, 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. The final prospectus will be
filed with the SEC and will be available on the SEC's website
located at http://www.sec.gov.
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
Lantern Pharma (LTRN) is a
clinical-stage biopharmaceutical company innovating the
repurposing, revitalization and development of precision
therapeutics in oncology. We leverage advances in machine learning,
genomics, and artificial intelligence by using a proprietary A.I.
platform to discover biomarker signatures that help identify
patients more likely to respond to our pipeline of cancer
therapeutics. Lantern's focus is to improve the outcome for
patients by leveraging our technology to uncover, rescue and
develop abandoned or failed drugs. Our current pipeline of three
drugs, with two programs in clinical stages and two in preclinical,
focuses on cancers that have unique and unmet clinical needs with a
clearly defined patient population. We believe that the use of
machine learning, genomics and computational methods can help
accelerate the revitalization, refocusing and development of small
molecule-based therapies. By targeting drugs to patients whose
genomic profile identifies them as having the highest probability
of benefiting from the drug, this approach represents the potential
to deliver best-in-class outcomes. Our team seeks out experienced
industry partners, world-class scientific advisors, and innovative
clinical-regulatory approaches to assist in delivering cancer
therapies to patients as quickly and efficiently as possible. For
more information, please visit the company's website at
www.lanternpharma.com or follow the company on Twitter
@lanternpharma.
Forward Looking Statements
This press release contains
"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'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 undertakes no duty to update such information
except as required under applicable law.
Contact:
Lantern Pharma
Investors & Media
email:
investor@lanternpharma.com
Twitter: @lanternpharma
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SOURCE Lantern Pharma