Lantern Pharma Q2 operating loss falls 25%

• Lantern Pharma reported a Q2 2026 operating loss of about $3.5 million, down 25% from $4.7 million a year earlier.
• Lantern reported $7.4 million in cash and investments, while its GAAP net loss widened to $7.1 million after $3.6 million of warrant-related expense.
• The company is focusing its LP-300 Phase 2 trial on EGFR exon 21 L858R lung cancer patients while advancing LP-184 into additional biomarker-selected cancer studies.

Lantern Pharma (NASDAQ:LTRN) reported a Q2 operating loss of $3.5 million, down 25%, while emerging LP-300 data showed 8.9-month median progression-free survival in selected patients.

The company’s GAAP net loss widened to $7.1 million from $4.3 million, mainly reflecting approximately $3.6 million of warrant-related expense.

Lantern held $7.4 million in cash and investments at June 30 after raising $4.4 million in Q2, while R&D spending fell 42% to $1.8 million.

Following the announcement, Lantern Pharma's share price was down about 1.1% at $2.63 in premarket trading.

Lantern established Open Medicine AI as a wholly owned separate company with commercial licenses and said OMAI intends to seek outside capital.

The company is also advancing EMA-cleared LP-184 into a bladder cancer trial and preparing an FDA-cleared Phase 1b/2 study in triple-negative breast cancer.