Lantern Pharma Inc.
LTRNHealthcare|Biotechnology|US
$0.57
+0.04 (+6.75%)
Cash / Share
$0.59
Financials
Financial Snapshot
Market Cap
$8.5M
Enterprise Value
$1.9M
Revenue (TTM)
$0.00
Net Income (TTM)
-$18.7M
Cash & Investments
$7.4M
Net Cash
$7.3M
Free Cash Flow (TTM)
-$14.1M
Operating CF (TTM)
-$14.1M
Debt/Equity
-0.01
Cash Runway & Burn Rate
Cash on Hand
$7.4M
Quarterly Burn
$3.5M
Monthly Burn
$1.2M
Est. Runway
~2.1 quarters
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $445.2K | $1.2M | $19.2M | $70.7M | $55.2M | $41.3M | $24.0M | $10.1M | $7.4M | |
| Operating Cash Flow | -$1.3M | -$2.1M | -$5.7M | -$10.6M | -$12.8M | -$14.3M | -$17.8M | -$15.7M | -$14.1M | |
| Free Cash Flow | -$1.3M | -$2.1M | -$5.7M | -$10.6M | -$12.8M | -$14.4M | -$17.8M | -$15.7M | -$14.1M | |
| Capital Expenditure | $0.00 | -$5.7K | -$16.1K | -$15.5K | -$27.8K | -$18.7K | -$12.6K | -$1.7K | -$564.00 | |
| Financing Cash Flow | $535.0K | $2.9M | $23.7M | $63.4M | -$2.2M | -$500.0K | $66.7K | $1.5M | $5.5M |
R&D Spending
R&D (TTM)
$8.7M
R&D Intensity
—
R&D Growth vs Prior
-24.5%
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $572.1K | $953.2K | $2.2M | $7.6M | $8.60B | $11.9M | $16.1M | $11.5M | $8.7M | |
| SG&A | $1.2M | $1.5M | $3.7M | $5.0M | $5.83B | $6.0M | $6.1M | $6.5M | $6.8M |
Income Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | -$2.5K | $1.6K | $0.00 | $0.00 | $0.00 | $174.8K | $0.00 | $0.00 | $3.9K | |
| Gross Profit | $2.5K | -$1.6K | $0.00 | $0.00 | $0.00 | -$174.8K | $0.00 | $0.00 | -$3.9K | |
| R&D | $572.1K | $953.2K | $2.2M | $7.6M | $8.60B | $11.9M | $16.1M | $11.5M | $8.7M | |
| SG&A | $1.2M | $1.5M | $3.7M | $5.0M | $5.83B | $6.0M | $6.1M | $6.5M | $6.8M | |
| Operating Income | -$1.7M | -$2.4M | -$5.9M | -$12.6M | -$14.43B | -$17.9M | -$22.2M | -$18.0M | -$15.5M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$1.7M | -$2.4M | -$5.9M | -$12.4M | -$14.26B | -$16.0M | -$20.8M | -$17.1M | -$18.7M | |
| Net Income | -$1.7M | -$2.4M | -$5.9M | -$12.4M | -$14.26B | -$16.0M | -$20.8M | -$17.1M | -$18.7M | |
| EPS (Diluted) | -0.28 | -0.39 | -0.95 | -1.13 | -1.31 | -1.47 | -1930.92 | -1.57 | -1.62 | |
| EBITDA | -$1.7M | -$2.4M | -$5.9M | -$12.4M | -$14.26B | -$15.9M | -$20.8M | -$17.1M | -$18.6M | |
| Shares Out. (M) | 6.22 | 6.27 | 6.22 | 10.90 | 10.85 | 10.84 | 10.76 | 10.90 | 12.42 |
Balance Sheet
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $445.2K | $1.2M | $19.2M | $51.5M | $37.2M | $21.9M | $7.5M | $4.4M | $6.7M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $19.2M | $18.0M | $19.4M | $16.5M | $5.7M | $701.1K | |
| Total Current Assets | $445.2K | $1.2M | $20.2M | $72.7M | $58.7M | $43.3M | $25.2M | $10.8M | $8.5M | |
| Total Assets | $449.8K | $1.4M | $20.4M | $74.0M | $58.8M | $43.6M | $25.6M | $11.0M | $8.6M | |
| Total Current Liabilities | $651.6K | $489.3K | $552.3K | $2.3M | $2.8M | $2.7M | $4.3M | $4.5M | $4.3M | |
| Long-Term Debt | $0.00 | $0.00 | $108.5K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $651.6K | $489.3K | $660.8K | $2.4M | $2.8M | $2.7M | $4.4M | $4.5M | $11.8M | |
| Stockholders' Equity | -$201.8K | $943.3K | $19.7M | $71.6M | $56.0M | $40.9M | $21.2M | $6.5M | -$3.2M | |
| Retained Earnings | -$4.3M | -$6.8M | -$12.7M | -$25.0M | -$39.3M | -$55.2M | -$76.0M | -$93.1M | -$103.5M |
Cash Flow Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.3M | -$2.1M | -$5.7M | -$10.6M | -$12.8M | -$14.3M | -$17.8M | -$15.7M | -$14.1M | |
| Capital Expenditure | $0.00 | -$5.7K | -$16.1K | -$15.5K | -$27.8K | -$18.7K | -$12.6K | -$1.7K | -$564.00 | |
| Free Cash Flow | -$1.3M | -$2.1M | -$5.7M | -$10.6M | -$12.8M | -$14.4M | -$17.8M | -$15.7M | -$14.1M | |
| Investing Cash Flow | $5.3K | -$5.7K | -$16.1K | -$19.5M | $179.3K | -$930.2K | $3.4M | $11.1M | $9.2M | |
| Financing Cash Flow | $535.0K | $2.9M | $23.7M | $63.4M | -$2.2M | -$500.0K | $66.7K | $1.5M | $5.5M | |
| Issuance of Stock | $0.00 | $2.9M | $26.3M | $69.0M | $0.00 | $0.00 | $66.7K | $1.6M | $5.6M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | -$2.5M | -$500.0K | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $108.5K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $185.6K | $117.8K | $1.2M | $961.5K | $1.2M | $1.1M | $732.9K | $650.9K | $890.7K | |
| Net Change in Cash | -$731.2K | $786.9K | $18.0M | $33.3M | -$14.8M | -$15.8M | -$14.4M | -$3.1M | $598.8K |
Dilution Tracker
Shares outstanding grew 75.2% over 5 years — significant dilution
Shares Outstanding
15M
5-Year Share Growth
+75.2%
Stock Issuance (TTM)
$5.6M
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 6.22 | 6.27 | 6.22 | 10.90 | 10.85 | 10.84 | 10.76 | 10.90 | 12.42 | |
| Change vs Prior % | — | 0.8% | -0.7% | 75.3% | -0.5% | -0.1% | -0.7% | 1.3% | 14.0% | |
| Stock Issuance | $0.00 | $2.9M | $26.3M | $69.0M | $0.00 | $0.00 | $66.7K | $1.6M | $5.6M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | -$2.5M | -$500.0K | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $185.6K | $117.8K | $1.2M | $961.5K | $1.2M | $1.1M | $732.9K | $650.9K | $890.7K |
Margins & Profitability
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 855.5% | -257.4% | -30.0% | -17.3% | -25446.9% | -39.0% | -98.1% | -262.0% | -456.4% | |
| ROA % | -383.8% | -169.5% | -29.0% | -16.7% | -24236.6% | -36.6% | -81.3% | -155.1% | -216.8% | |
| ROIC % | 855.5% | -257.4% | -29.8% | -17.5% | -25731.0% | -43.5% | -103.7% | -21.1% | -358.0% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | -164.0% | 100.0% | 0.0% | 0.0% | 0.0% | 100.0% | 0.0% | |
| Operating Income | 0.0% | -40.6% | -143.3% | -113.1% | -114522.9% | 99.9% | -24.3% | 19.1% | |
| Net Income | 0.0% | -40.6% | -143.3% | -109.3% | -115243.5% | 99.9% | -30.2% | 17.6% | |
| EPS (Diluted) | 0.0% | -39.3% | -143.6% | -18.9% | -15.9% | -12.2% | -131255.1% | 99.9% | |
| Operating Cash Flow | 0.0% | -67.4% | -165.6% | -87.4% | -20.5% | -12.4% | -24.2% | 12.0% | |
| Free Cash Flow | 0.0% | -67.8% | -165.6% | -87.1% | -20.6% | -12.3% | -24.1% | 12.0% | |
| R&D Expense | 0.0% | 66.6% | 135.3% | 237.5% | 113536.7% | -99.9% | 35.6% | -28.6% | |
| SG&A Expense | 0.0% | 27.8% | 148.5% | 37.0% | 116010.0% | -99.9% | 1.8% | 6.1% | |
| Total Assets | 0.0% | 218.5% | 1321.2% | 263.2% | -20.4% | -25.8% | -41.4% | -56.8% | |
| Book Value / Share | 0.0% | 563.9% | 2003.1% | 107.3% | -21.3% | -26.9% | -47.8% | -69.5% | |
| Debt | 0.0% | 0.0% | 0.0% | 88.9% | -74.2% | 343.3% | 3.9% | 32133.4% | |
| Diluted Shares | 0.0% | 0.8% | -0.7% | 75.3% | -0.5% | -0.1% | -0.7% | 1.3% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B-2.19
10Y Low / Med / High1.13 / 1.62 / 99.29
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
Cash / Share
$0.59
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -53.39 | -38.33 | -20.26 | -7.06 | -4.61 | -2.91 | -0.00 | -1.93 | -0.35 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | -460.62 | 99.29 | 6.08 | 1.22 | 1.17 | 1.13 | 1.62 | 5.05 | -2.19 | |
| EV/EBITDA | -53.50 | -38.09 | -17.04 | -2.89 | -0.00 | -1.55 | -1.30 | -6.26 | -0.10 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-23.00
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $1.9M | $14.6M | $33.8M |
| Net Income | -$17.8M | -$22.0M | -$23.0M |
| EPS | $-1.63 | $-2.02 | $-2.11 |
| # Analysts (EPS) | 1 | 1 | 1 |