Lantern Pharma Inc Dossier - Source-backed chat

Lantern Pharma Inc

LTRNNASDAQ

SectorHealth Care

IndustryBiotechnology

Beta (adjusted)1.90

Intrinsic Value

Insufficient data for a value estimateNot enough reliable inputs to publish a fair value for this company yet.

Market Price $1.00Price as of 1 Oct 2026

Data confidenceNot applicable

Market Cap $13.5M

Enterprise Value $6.9M

Shares Outstanding 12M diluted

Next Earnings Date31 Dec 2026

All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference.

Thesis

Street consensus, scenarios, merits, risks, and invalidation triggers

AI-assisted

Thesis Summary

Lantern Pharma is a clinical-stage biopharmaceutical company leveraging its proprietary RADR® AI platform to transform the cost, pace, and timeline of oncology drug discovery. The company is advancing a targeted pipeline of small molecule candidates, led by LP-300 in a Phase 2 trial for never-smoker non-small cell lung cancer (NSCLC). Recent successful regulatory interactions with the FDA regarding protocol amendments for the HARMONIC trial, combined with the commercial launch of the multi-agentic AI co-scientist platform withZeta.ai, provide strong near-term catalysts. While the company remains pre-revenue and carries going-concern risks typical of early-stage biotech, its capital-efficient model and high-potential pipeline offer significant upside.

This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today.

Street view · analyst 12-month targets2 analysts · as of 18 Aug 2026

Low · most bearish analyst$10.00

Mean target$17.50

High · most bullish analyst$25.00

Our research · scenarios, merits, risks, and invalidation triggersResearch as of 20 Jun 2026

Scenarios · 12-month scenario targetsAnchored at research date

Bear CaseDownside scenario

$1.5015%

The bear case is defined by clinical delays or unfavorable safety/efficacy signals in the HARMONIC trial, which would severely impact the valuation of the lead asset. Furthermore, failure to secure additional funding or partnerships before the cash runway expires in early 2027 would exacerbate going-concern risks, forcing highly dilutive equity financing or program prioritization.

Base CaseCentral scenario

$25.0060%

The base case assumes steady progression of the LP-300 HARMONIC trial with positive interim data readouts in late 2026. The company successfully manages its cash runway into early 2027 through disciplined R&D spending and tactical capital raises or partnerships. withZeta.ai gains initial academic and commercial traction, establishing a baseline software-as-a-service (SaaS) revenue stream.

Bull CaseUpside scenario

$25.0025%

The bull case is driven by rapid clinical validation of LP-300 in the HARMONIC trial under the newly optimized protocol, leading to accelerated approval pathways. Additionally, the commercialization of withZeta.ai and predictBBB.ai generates substantial non-dilutive subscription revenue, and the planned spin-off of AI assets unlocks significant independent valuation. Successful clinical progression of LP-184 and STAR-001 triggers lucrative out-licensing partnerships.

Scenarios are anchored to street consensus at the research date, with our probabilities and rationale.

Key Investment Merits

Proprietary RADR® AI platform with over 200 billion oncology-focused data points, enabling highly targeted, biomarker-driven drug development at a fraction of traditional costs.
Lead asset LP-300 targets never-smoker NSCLC, a distinct $4 billion+ global addressable market with no currently approved therapies specifically designed for this population.
Successful FDA Type C meeting outcome in May 2026 provides a clear, optimized regulatory path forward for the Phase 2 HARMONIC trial.
New non-dilutive revenue potential from the commercial launch of withZeta.ai, a first-of-its-kind multi-agentic AI co-scientist platform.

Key Investment Risks

Pre-revenue clinical-stage profile with substantial doubt about the company's ability to continue as a going concern without raising additional capital.
Tight cash runway, with pro forma liquidity (including the May 2026 financing) expected to fund operations only into the middle of the first quarter of 2027.
High dependency on the clinical success of a single lead asset (LP-300) for near-to-mid-term valuation.
Regulatory and clinical trial execution risks, including potential challenges in patient enrollment for highly specific genomic subgroups.

Thesis Invalidation Triggers

Failure of the LP-300 HARMONIC trial to meet its primary efficacy or safety endpoints.
Inability to secure additional financing or strategic partnerships by late 2026, leading to severe liquidity constraints.
Lack of commercial adoption or meaningful revenue generation from the withZeta.ai platform.

All scenarios are estimates and subject to change. Past performance is not indicative of future results.

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Explore this dossier

ValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework.