Lantern Pharma(LTRN) - 2025 Q2 - Quarterly Report

FORWARD-LOOKING STATEMENTS This report contains forward-looking statements regarding company strategy and financial projections, which are subject to substantial risks - This Quarterly Report on Form 10-Q contains forward-looking statements regarding the company's strategy, future preclinical studies and clinical trials, financial position, projected costs, and management objectives[12] - Key forward-looking statements include the ability to secure funding, the potential advantages of the RADR platform, strategic plans for drug candidate development and data expansion, R&D efforts, and the intention to leverage AI, machine learning, and biomarker data[13] - Readers are cautioned not to place undue reliance on forward-looking statements as actual results may differ materially due to various factors, including those discussed in the Risk Factors section of the 2024 Form 10-K[14][15] PART I – FINANCIAL INFORMATION This part presents the company's unaudited financial statements and management's discussion and analysis for the reporting period Item 1. Financial Statements. This section presents the unaudited condensed consolidated financial statements for the periods ended June 30, 2025, and December 31, 2024 Condensed Consolidated Balance Sheets The balance sheet reflects a decrease in total assets and stockholders' equity driven by lower cash and marketable securities | Metric | June 30, 2025 (Unaudited) | December 31, 2024 | | :-------------------------------- | :------------------------ | :------------------ | | Assets | | | | Cash and cash equivalents | $6,061,408 | $7,511,079 | | Marketable securities | $9,840,366 | $16,501,984 | | Total current assets | $17,200,790 | $25,247,629 | | Total assets | $17,420,292 | $25,571,792 | | Liabilities | | | | Accounts payable and accrued expenses | $4,752,848 | $4,140,361 | | Total current liabilities | $4,884,363 | $4,331,175 | | Total liabilities | $4,897,887 | $4,384,018 | | Stockholders' Equity | | | | Total stockholders' equity | $12,522,405 | $21,187,774 | - Total assets decreased by approximately $8.15 million from December 31, 2024, to June 30, 2025, primarily due to reductions in marketable securities and cash and cash equivalents[21] - Total stockholders' equity decreased by approximately $8.67 million, largely driven by accumulated deficit from net losses[21] Condensed Consolidated Statements of Operations The company's net loss decreased year-over-year due to a significant reduction in research and development expenses | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | General and administrative expenses | $1,583,521 | $1,519,724 | $3,093,598 | $3,000,939 | | Research and development expenses | $3,068,379 | $3,888,737 | $6,332,334 | $8,139,523 | | Total operating expenses | $4,651,900 | $5,408,461 | $9,425,932 | $11,140,462 | | Loss from operations | $(4,651,900) | $(5,408,461) | $(9,425,932) | $(11,140,462) | | Interest income | $114,745 | $188,660 | $264,535 | $389,610 | | Other income, net | $206,140 | $260,295 | $293,599 | $350,536 | | NET LOSS | $(4,331,015) | $(4,959,506) | $(8,867,798) | $(10,400,316) | | Net loss per share (basic and diluted) | $(0.40) | $(0.46) | $(0.82) | $(0.97) | - Net loss decreased for both the three and six months ended June 30, 2025, compared to the same periods in 2024, primarily due to a reduction in research and development expenses[23] - Research and development expenses decreased by 21% for the three months and 22% for the six months ended June 30, 2025, year-over-year[23] Condensed Consolidated Statements of Comprehensive Loss Comprehensive loss narrowed year-over-year, though other comprehensive income shifted to a loss due to market factors | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :------------------------------------------ | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | NET LOSS | $(4,331,015) | $(4,959,506) | $(8,867,798) | $(10,400,316) | | Other comprehensive (loss) income | $(83,691) | $(8,445) | $(105,947) | $100,875 | | Comprehensive loss | $(4,414,706) | $(4,967,951) | $(8,973,745) | $(10,299,441) | - The company reported a comprehensive loss of $4,414,706 for the three months ended June 30, 2025, and $8,973,745 for the six months ended June 30, 2025[25] - Other comprehensive loss for the six months ended June 30, 2025, was $(105,947), a significant change from the income of $100,875 in the prior year, primarily due to unrealized losses on foreign currency translation and available-for-sale securities[25] Condensed Consolidated Statements of Changes in Stockholders' Equity Stockholders' equity declined significantly in the first half of 2025, primarily due to the net loss incurred during the period | Metric | December 31, 2024 | June 30, 2025 | | :-------------------------- | :------------------ | :------------------ | | Total Stockholders' Equity | $21,187,774 | $12,522,405 | | Accumulated Deficit | $(76,025,617) | $(84,893,415) | | Additional Paid-in Capital | $97,058,323 | $97,366,699 | | Accumulated Other Comprehensive Income | $153,990 | $48,043 | - Total stockholders' equity decreased by approximately $8.67 million from December 31, 2024, to June 30, 2025, primarily due to the net loss incurred during the period[27] - Stock-based compensation contributed $308,376 to additional paid-in capital during the six months ended June 30, 2025[27] Condensed Consolidated Statements of Cash Flows Cash flow from investing activities turned positive due to redemptions of marketable securities, offsetting operating cash usage | Cash Flow Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--------------------------------------- | :----------------------------- | :----------------------------- | | Net cash flows used in operating activities | $(8,312,887) | $(8,259,161) | | Net cash flows provided by (used in) investing activities | $6,832,489 | $(758,231) | | Net cash flows provided by financing activities | $- | $54,716 | | Change in cash and cash equivalents | $(1,449,671) | $(8,961,184) | | Cash and cash equivalents, end of period | $6,061,408 | $12,976,565 | - Net cash used in operating activities slightly increased to $8,312,887 for the six months ended June 30, 2025, compared to $8,259,161 in the prior year[29] - Investing activities shifted from a net cash outflow of $758,231 in 2024 to a net cash inflow of $6,832,489 in 2025, primarily due to increased net redemptions of marketable securities[29] Notes to Condensed Consolidated Financial Statements These notes provide detailed explanations of the company's accounting policies, financial position, and operational activities Note 1. Organization, Principal Activities, and Basis of Presentation Lantern Pharma is an AI-driven company developing targeted oncology therapies using its proprietary RADR platform - Lantern Pharma Inc is an AI-focused company dedicated to developing cancer therapies and transforming oncology drug discovery and development[31] - The company's RADR AI platform uses big data analytics and machine learning to identify drug candidates and patient populations likely to respond[31] - The development portfolio includes three clinical-stage oncology candidates: LP-300 (Phase 2 for NSCLC), LP-184/STAR-001 (Phase 1 for solid tumors and CNS cancers), and LP-284 (Phase 1 for hematological cancers), plus an ADC program[33][34] Note 2. Liquidity and Going Concern Significant net losses raise substantial doubt about the company's ability to continue as a going concern without additional funding | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :---------------- | :----------------------------- | :----------------------------- | | Net Loss | $(8,868,000) | $(10,400,000) | | Working Capital (as of June 30, 2025) | $12,316,000 | N/A | - The company's ability to continue as a going concern is highly contingent on raising additional capital for ongoing research and development and clinical trials[38] - In July 2025, the company entered into an ATM Sales Agreement to sell up to $15,530,000 of common stock to support capital needs[37] Note 3. Summary of Significant Accounting Policies This note outlines key accounting policies for estimates, taxes, R&D costs, marketable securities, and other financial items Use of Estimates and Assumptions Financial statement preparation requires management to make estimates and assumptions, particularly for R&D accruals, fair value of equity-based awards, lease payments, and marketable securities[39] Income Taxes - Due to operating losses, the company has no corporate income tax liabilities and has recorded a full valuation allowance on its deferred tax assets[40] - The company is assessing the potential impact of the recently enacted One Big Beautiful Bill Act (OBBB) on future gross tax assets and liabilities[41] Foreign Currency Financial statements of the Australian subsidiary (functional currency: AUD) are translated to USD, with translation gains/losses recorded in accumulated other comprehensive income (loss)[42] Risks and Uncertainties - The company operates in an industry subject to intense competition, government regulation, and rapid technological change, facing financial, operational, technological, and regulatory risks[43] - Marketable securities are subject to interest rate, market, and credit risks, and cash balances may exceed FDIC insurance limits[44] - Reliance on foreign third-party manufacturers and service providers exposes the company to risks from changes in U.S. and international trade policies, including tariffs[45] Research and Development Research and development costs, including payroll, contractor expenses, research studies, manufacturing, clinical site costs, and technical infrastructure for the RADR platform, are expensed as incurred[47] Cash and Cash Equivalents | Metric | June 30, 2025 | December 31, 2024 | | :---------------- | :-------------- | :---------------- | | Cash Equivalents | $4,617,000 | $6,619,000 | - Cash equivalents include money market funds and other highly liquid instruments with original maturities of 3 months or less[48] Leases - Operating leases are recognized on the balance sheet as right-of-use (ROU) assets and lease liabilities, based on the present value of future minimum lease payments[49] - Short-term leases (12 months or less) are expensed on a straight-line basis and do not result in ROU assets or lease liabilities[49] Marketable Securities - Marketable securities, including government and agency securities, corporate bonds, mutual funds, and common stock, are classified as available-for-sale and recorded at fair value[50][51] - Unrealized gains and losses on available-for-sale debt securities are recorded in accumulated other comprehensive income (loss), while changes in fair value of equity securities are recorded in other income, net[51][52] Recent Accounting Pronouncements - The company is assessing the impact of ASU 2023-09 (Income Taxes) effective for the 2025 annual period, which requires enhanced income tax disclosures[54] - The company is also assessing ASU 2024-03 (Expense Disaggregation Disclosures) effective for annual periods beginning after December 15, 2026, which requires disaggregated income statement expense disclosures[55] Note 4. Commitments and Contingencies The company maintains various research and license agreements, with related expenses decreasing year-over-year General - The company engages in various agreements (license, strategic alliance, research service) for product candidate advancement and R&D efforts[56] - CRO services for the LP-300 Phase 2 clinical trial are transitioning from Fortrea Inc to other service providers as of July 2025[57] | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :---------------------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Amount Expensed for License, Strategic Alliance, and Research Agreements | $1,133,000 | $1,639,000 | $2,314,000 | $3,741,000 | | Amount accrued and payable (June 30, 2025) | $1,382,000 | N/A | N/A | N/A | | Amount accrued and payable (December 31, 2024) | N/A | N/A | N/A | $1,725,000 | | Prepaid expenses and other current assets (June 30, 2025) | $368,000 | N/A | N/A | N/A | | Prepaid expenses and other current assets (December 31, 2024) | N/A | N/A | N/A | $490,000 | Actuate Therapeutics - The company collaborates with Actuate Therapeutics, Inc to utilize its RADR® platform for biomarker-derived signatures for Actuate's product candidates[63] - As of June 30, 2025, the company holds 13,889 shares of Actuate common stock with a fair value of approximately $85,000, down from $111,000 at December 31, 2024[64] Note 5. Leases The company's operating lease assets and liabilities decreased, with future minimum lease payments totaling $151,801 | Metric | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :-------------- | :---------------- | | Operating lease, right-of-use asset, net | $143,240 | $239,985 | | Total operating lease liabilities | $145,039 | $243,657 | | Weighted average remaining term (years) | 0.89 | 1.31 | | Weighted average discount rate | 9.50% | 9.03% | - Future estimated minimum lease payments under non-cancelable operating leases total $151,801, with $97,057 due in the remaining six months of 2025 and $54,744 in 2026[66] | Lease Expense Component | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :---------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Operating lease cost | $53,000 | $45,000 | $106,000 | $90,000 | | Short-term lease cost | $4,800 | $4,800 | $9,600 | $9,300 | | Total lease expense | $57,800 | $49,800 | $115,600 | $99,300 | Note 6. Stockholders' Equity The company initiated an ATM Sales Agreement in July 2025 while all outstanding warrants expired unexercised Common Stock - As of June 30, 2025, and December 31, 2024, 10,784,725 shares of Common Stock were issued and outstanding[71] - In July 2025, the company entered an ATM Sales Agreement to sell up to $15,530,000 of common stock, with 15,185 shares sold for approximately $80,000 through August 12, 2025[72] Warrants - No warrant exercises occurred during the three or six months ended June 30, 2025[73] - All outstanding warrants expired unexercised by June 30, 2025, resulting in no outstanding warrants[73] Options | Metric | June 30, 2025 | | :------------------------ | :-------------- | | Options Outstanding | 1,239,766 | | Weighted Average Exercise Price | $5.72 | | Exercisable Options | 1,057,353 | | Weighted Average Exercise Price (Exercisable) | $5.95 | | Stock-based Compensation | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | General and administrative | $65,791 | $56,051 | $139,544 | $112,296 | | Research and development | $94,835 | $78,120 | $168,832 | $155,932 | | Total | $160,626 | $134,171 | $308,376 | $268,228 | Note 7. Marketable Securities Marketable securities totaled $9.8 million, consisting primarily of government and agency debt securities with minor unrealized losses | Security Type | Aggregate Fair Value (June 30, 2025) | | :------------------------------ | :----------------------------------- | | Government and agency debt securities | $9,951,540 | | Equity securities | $4,505,440 | | Total | $14,456,980 | | Included in cash and cash equivalents | $4,616,614 | | Included in marketable securities | $9,840,366 | - All debt securities are due within one year, totaling $9,951,540 as of June 30, 2025[76] - Unrealized losses on government and agency debt securities were $453, all for less than 12 months, and are not believed to represent credit losses[77] Note 8. Fair Value Measurements All marketable securities are classified as Level 1 or Level 2 for fair value measurement, with no assets using Level 3 inputs - Fair value measurements are based on a hierarchy: Level 1 (quoted prices in active markets for identical assets), Level 2 (observable inputs for similar assets), and Level 3 (unobservable inputs)[78][79][80] | Description | Total Fair Value (June 30, 2025) | Level 1 | Level 2 | Level 3 | | :------------------------------ | :------------------------------- | :-------- | :-------- | :-------- | | Government and agency debt securities | $9,951,540 | $- | $9,951,540 | $- | | Money markets | $626,569 | $626,569 | $- | $- | | Mutual funds – fixed income | $2,922,809 | $2,922,809 | $- | $- | | Mutual funds – alternative investments | $871,200 | $871,200 | $- | $- | | Common stock | $84,862 | $84,862 | $- | $- | | Total | $14,456,980 | $4,505,440 | $9,951,540 | $- | - All marketable securities are classified as Level 1 or Level 2, with no financial assets measured using Level 3 inputs[82] Note 9. Loss Per Share of Common Shares Potentially dilutive securities are excluded from the diluted loss per share calculation due to the company's net loss position | Metric | June 30, 2025 | June 30, 2024 | | :-------------------------------- | :-------------- | :-------------- | | Warrants to purchase common stock | - | 81,496 | | Stock options | 1,239,766 | 1,063,548 | | Total potentially dilutive securities | 1,239,766 | 1,145,044 | - Due to net losses, potentially dilutive securities (warrants and stock options) are excluded from diluted loss per share calculations as their effect would be anti-dilutive[84] Note 10. Segment Reporting The company operates as a single operating segment, with the CEO acting as the chief operating decision maker - The company operates as one operating segment, with its chief executive officer acting as the chief operating decision maker (CODM)[85] - CODM uses R&D study and material costs, cash balances, operating losses, and budget projections to assess performance and allocate resources[85] | Metric | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :---------------------------------------------------- | :----------------------------- | :----------------------------- | | Research and development study and material costs | $4,072,000 | $5,848,000 | | Three Months Ended June 30, 2025 | $1,946,000 | N/A | | Three Months Ended June 30, 2024 | N/A | $2,730,000 | Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. This section provides management's perspective on the company's financial condition, operational results, and strategic focus Overview Lantern Pharma is an AI-driven company developing targeted cancer therapies by leveraging its proprietary RADR® data platform - Lantern Pharma is an AI-focused company dedicated to developing cancer therapies, leveraging its proprietary RADR® platform with over 200 billion data points to streamline drug discovery and development[87] - The company has three lead small molecule drug candidates (LP-300, LP-184, LP-284) in active clinical programs for various cancer indications, and an Antibody-Drug Conjugate (ADC) program in preclinical research[88][91] - The strategy involves developing new drug candidates and 'rescuing' historical drug candidates by using AI and genomic data to target specific patient populations, aiming to reduce development time and cost[89][90] Components of Our Results of Operations The company's results are primarily driven by research and development expenses across its drug programs and AI platform - The company has not recognized any revenues for the three and six-month periods ended June 30, 2025 and 2024[99] | Research and Development Project | Three Months Ended June 30, 2025 | Six Months Ended June 30, 2025 | | :------------------------------- | :------------------------------- | :----------------------------- | | LP-300 | $1,164,748 | $2,172,656 | | LP-184 | $1,272,370 | $2,633,833 | | LP-284 | $275,957 | $732,428 | | LP-100 | $31,250 | $60,650 | | ADC Program | $7,999 | $14,376 | | RADR Platform | $263,564 | $517,143 | | Other | $52,491 | $201,248 | | Total research and development expenses | $3,068,379 | $6,332,334 | - General and administrative expenses primarily consist of salaries, professional fees, insurance, and occupancy costs, and are expected to fluctuate and increase with clinical trials and potential commercialization[102][103] Summary Results of Operations for the Three and Six Months Ended June 30, 2025 and 2024 (unaudited) Net loss decreased for both the three and six-month periods in 2025 compared to 2024, driven by lower R&D spending | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :----------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | General and administrative expenses | $1,583,521 | $1,519,724 | $3,093,598 | $3,000,939 | | Research and development expenses | $3,068,379 | $3,888,737 | $6,332,334 | $8,139,523 | | Total operating expenses | $4,651,900 | $5,408,461 | $9,425,932 | $11,140,462 | | Loss from operations | $(4,651,900) | $(5,408,461) | $(9,425,932) | $(11,140,462) | | Interest income | $114,745 | $188,660 | $264,535 | $389,610 | | Other income, net | $206,140 | $260,295 | $293,599 | $350,536 | | NET LOSS | $(4,331,015) | $(4,959,506) | $(8,867,798) | $(10,400,316) | Comparison of the Three Months Ended June 30, 2025 and 2024 For Q2 2025, R&D expenses decreased by 21% while G&A expenses saw a modest 4% increase compared to Q2 2024 General and Administrative Expenses General and administrative expenses increased by approximately $64,000 (4%) to $1,584,000, driven by higher professional fees, patent costs, payroll, and corporate insurance, partially offset by decreases in business development and office fees[105] Research and Development Expenses Research and development expenses decreased by approximately $821,000 (21%) to $3,068,000, primarily due to decreases in research studies, consulting, and payroll, partially offset by increased licensing expenses[106] Interest and Other Income, Net Interest income decreased by $74,000 (39%) to $115,000[107] - Other income, net, decreased by $54,000 to $206,000, mainly due to lower dividend income, partially offset by foreign currency gains and investment income[107] Comparison of the Six Months Ended June 30, 2025 and 2024 For H1 2025, R&D expenses decreased by 22% while G&A expenses increased by 3% compared to H1 2024 General and Administrative Expenses General and administrative expenses increased by approximately $93,000 (3%) to $3,094,000, primarily due to higher professional fees, payroll, corporate insurance, patent/legal expenses, and rent, offset by decreases in business development and travel expenses[109] Research and Development Expenses Research and development expenses decreased by approximately $1,807,000 (22%) to $6,332,000, mainly due to decreases in research studies, payroll, and consulting, partially offset by increases in licensing and research materials expenses[110] Interest and Other Income, Net Interest income decreased by $125,000 to $265,000[111] - Other income, net, decreased by $57,000 to $294,000, primarily due to lower dividend income, partially offset by foreign currency gains and investment income[111] Cash Flows Investing activities provided a significant cash inflow in H1 2025, contrasting with a cash outflow in the prior year Operating Activities Net cash used in operating activities increased slightly to approximately $8,313,000 for the six months ended June 30, 2025, primarily due to a smaller increase in accounts payable and accrued expenses compared to the prior year[113] Investing Activities Net cash provided by investing activities was approximately $6,832,000 for the six months ended June 30, 2025, a significant shift from $758,000 used in the prior year, driven by increased net redemptions of marketable securities[114] Financing Activities No financing activities occurred during the six months ended June 30, 2025, compared to $55,000 provided by warrant exercises in the prior year[115] Operating Capital and Capital Expenditure Requirements The company requires substantial additional funding to sustain operations beyond June 2026 due to ongoing losses - As of June 30, 2025, the company had $17.4 million in total assets, $12.3 million in working capital, and $15.9 million in cash, cash equivalents, and marketable securities[116] - Existing liquidity is expected to fund operations into June 2026, but substantial additional funding is needed due to anticipated ongoing losses and negative operating cash flows, raising substantial doubt about the company's ability to continue as a going concern[116][117] - Future expenses are expected to increase substantially as the company continues clinical development, initiates new trials, expands its drug candidate portfolio, protects intellectual property, pursues regulatory approvals, and builds commercial infrastructure[119][121] Critical Accounting Estimates There were no changes to the company's critical accounting estimates during the first six months of 2025 - There have been no changes to the company's critical accounting estimates during the six months ended June 30, 2025[123] Quantitative and Qualitative Disclosure About Market Risk The company's primary market risk is interest rate sensitivity affecting its investment portfolio and income - The primary market risk exposure is interest rate sensitivity, which can affect the market value of fixed-rate securities and future investment income[124] - The company has no long-term debt and does not believe its cash and cash equivalents have significant default or illiquidity risk, though cash balances may exceed federally insured limits[125][127] - Foreign currency gains of approximately $130,000 were experienced for the six months ended June 30, 2025, related to the Australian subsidiary, but the impact of future foreign currency losses is not expected to be material[128] Item 3. Quantitative and Qualitative Disclosures About Market Risk. The company is exempt from this item's requirements due to its status as a Smaller Reporting Company - As a Smaller Reporting Company, Lantern Pharma Inc is exempt from the requirements of Item 3[130] Item 4. Controls and Procedures. Management concluded that the company's disclosure controls and procedures were effective as of the end of the reporting period Evaluation of Disclosure Controls and Procedures. - Management, with CEO and CFO participation, evaluated disclosure controls and procedures as of June 30, 2025[131] - Disclosure controls and procedures were concluded to be effective at the reasonable assurance level[132] Changes in Internal Control Over Financial Reporting. - No changes in internal control over financial reporting occurred during the three months ended June 30, 2025, that materially affected, or are reasonably likely to materially affect, internal control over financial reporting[133] Inherent Limitations on Effectiveness of Controls. - Management acknowledges that control systems provide only reasonable, not absolute, assurance and are subject to inherent limitations, including faulty judgments, errors, circumvention by individuals, and management override[134] PART II – OTHER INFORMATION This part includes information on risk factors and a list of exhibits filed with the report Item 1A. Risk Factors. The company is exempt from this item's requirements due to its status as a Smaller Reporting Company - As a Smaller Reporting Company, Lantern Pharma Inc is exempt from the requirements of Item 1A[137] Item 6. Exhibits. This section lists all exhibits filed with the report, including by-law amendments, agreements, and officer certifications - Exhibit 3.4 is Amendment No. 2 to By-Laws, incorporated by reference from the Registrant's Current Report on Form 8-K filed July 29, 2025[138] - Exhibit 10.2 is the ATM Sales Agreement, dated July 3, 2025, by and between Lantern Pharma Inc and ThinkEquity LLC, incorporated by reference[138] - Certifications of Principal Executive Officer and Principal Financial Officer (Exhibits 31.1, 31.2, 32.1, 32.2) are filed or furnished electronically herewith[138] SIGNATURES The report is duly signed by the company's Chief Executive Officer and Chief Financial Officer - The report was signed on August 13, 2025, by Panna Sharma, Chief Executive Officer, and David R. Margrave, Chief Financial Officer, on behalf of Lantern Pharma Inc[141][142]