DALLAS, Jan. 20, 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 closing of its previously announced public offering of
4,928,571 shares of its common stock at a public offering price of
$14.00 per share, which includes
642,856 shares sold upon full exercise of the underwriter's option
to purchase additional common shares. The gross proceeds from the
offering, including the exercise of the over-allotment option, were
$68,999,994, before deducting
underwriting discounts, commissions and offering expenses.
ThinkEquity, a division of Fordham Financial Management, Inc.,
acted as sole book-running manager for the offering. Colliers
Securities LLC acted 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 and became effective on January
14, 2021, and a related registration statement on Form S-1
(File No. 333-252116) was filed pursuant to Rule 462(b) of the
Securities Act of 1933, as amended, in connection with the upsizing
of the offering. This offering was 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 these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other 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