Home / Going-concern warnings / Lantern Pharma Inc.
Filed 2025-08-13 路 Form 10-Q 路 Accession 0001641172-25-023471 micro
Price before filing: $4.45 (2025-08-12 close, split/dividend-adjusted)
Market cap at flag: $51.6M (2025-08-13) 路 Latest: $8.3M (2026-10-16)
| Window | LTRN | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -13.9% | +2.3% | -16.2% | 2025-09-12 |
| 90 days | -20.4% | +6.6% | -27.0% | 2025-11-11 |
| 180 days | -39.1% | +8.6% | -47.7% | 2026-02-09 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 2 insiders sold $1.0M (68 sales)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-05-27 | Fletcher Aaron G.L. (+9 joint filers) 10% owner | Sale | 3,790 | $3.05 | $12K | no | Form 4 |
| 2025-05-27 | Fletcher Aaron G.L. (+9 joint filers) 10% owner | Sale | 6,479 | $3.05 | $20K | no | Form 4 |
| 2025-05-27 | Fletcher Aaron G.L. (+9 joint filers) 10% owner | Sale | 1,000 | $3.05 | $3K | no | Form 4 |
| 2025-05-27 | Fletcher Aaron G.L. (+9 joint filers) 10% owner | Sale | 7,478 | $3.05 | $23K | no | Form 4 |
| 2025-05-27 | Fletcher Aaron G.L. (+9 joint filers) 10% owner | Sale | 2,290 | $3.05 | $7K | no | Form 4 |
| 2025-05-27 | Kreis Leslie W. (+3 joint filers) 10% owner | Sale | 3,790 | $3.05 | $12K | no | Form 4 |
| 2025-05-27 | Kreis Leslie W. (+3 joint filers) 10% owner | Sale | 6,479 | $3.05 | $20K | no | Form 4 |
| 2025-05-27 | Kreis Leslie W. (+3 joint filers) 10% owner | Sale | 1,000 | $3.05 | $3K | no | Form 4 |
| 2025-05-27 | Kreis Leslie W. (+3 joint filers) 10% owner | Sale | 7,478 | $3.05 | $23K | no | Form 4 |
| 2025-05-27 | Kreis Leslie W. (+3 joint filers) 10% owner | Sale | 2,290 | $3.05 | $7K | no | Form 4 |
| 2025-05-28 | Fletcher Aaron G.L. (+9 joint filers) 10% owner | Sale | 2,702 | $2.87 | $8K | no | Form 4 |
| 2025-05-28 | Fletcher Aaron G.L. (+9 joint filers) 10% owner | Sale | 4,620 | $2.87 | $13K | no | Form 4 |
| 2025-05-28 | Fletcher Aaron G.L. (+9 joint filers) 10% owner | Sale | 714 | $2.87 | $2K | no | Form 4 |
| 2025-05-28 | Fletcher Aaron G.L. (+9 joint filers) 10% owner | Sale | 5,332 | $2.87 | $15K | no | Form 4 |
| 2025-05-28 | Fletcher Aaron G.L. (+9 joint filers) 10% owner | Sale | 1,632 | $2.87 | $5K | no | Form 4 |
| 2025-05-28 | Kreis Leslie W. (+3 joint filers) 10% owner | Sale | 2,702 | $2.87 | $8K | no | Form 4 |
| 2025-05-28 | Kreis Leslie W. (+3 joint filers) 10% owner | Sale | 4,620 | $2.87 | $13K | no | Form 4 |
| 2025-05-28 | Kreis Leslie W. (+3 joint filers) 10% owner | Sale | 714 | $2.87 | $2K | no | Form 4 |
| 2025-05-28 | Kreis Leslie W. (+3 joint filers) 10% owner | Sale | 5,332 | $2.87 | $15K | no | Form 4 |
| 2025-05-28 | Kreis Leslie W. (+3 joint filers) 10% owner | Sale | 1,632 | $2.87 | $5K | no | Form 4 |
| 2025-05-29 | Fletcher Aaron G.L. (+9 joint filers) 10% owner | Sale | 3,639 | $3.03 | $11K | no | Form 4 |
| 2025-05-29 | Fletcher Aaron G.L. (+9 joint filers) 10% owner | Sale | 6,221 | $3.03 | $19K | no | Form 4 |
| 2025-05-29 | Fletcher Aaron G.L. (+9 joint filers) 10% owner | Sale | 961 | $3.03 | $3K | no | Form 4 |
| 2025-05-29 | Fletcher Aaron G.L. (+9 joint filers) 10% owner | Sale | 7,180 | $3.03 | $22K | no | Form 4 |
| 2025-05-29 | Fletcher Aaron G.L. (+9 joint filers) 10% owner | Sale | 2,199 | $3.03 | $7K | no | Form 4 |
| 2025-08-13: red flag filed | |||||||
Showing 25 of 68 transactions.
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-05-15 to 2025-09-12. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"These factors raise substantial doubt about the Company's ability to continue as a going concern in the absence of obtaining substantial additional funding."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-06-30)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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