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Lantern Pharma Inc. (LTRN) stock has reached a new 52-week low, touching down at $2.77, representing a 66% decline from its 52-week high of $8.27. According to InvestingPro analysis, the stock's RSI indicates oversold territory, while the company maintains a healthy current ratio of 5.83 with more cash than debt on its balance sheet. This latest price level reflects a significant downturn from the company's performance over the past year, with Lantern Pharma experiencing a stark decline of nearly 64%. The decline underscores the volatility and challenges within the pharmaceutical industry, as companies like Lantern Pharma navigate through complex regulatory environments, clinical trial outcomes, and the ever-evolving competitive landscape. InvestingPro subscribers can access 8 additional key insights about LTRN's financial health and market position. Investors are closely monitoring the company's strategic initiatives and pipeline developments in hopes of a turnaround that could rejuvenate its stock value. Despite current challenges, analyst price targets range from $15 to $26, suggesting potential upside if the company executes on its strategy.
In other recent news, Lantern Pharma Inc. reported a net loss of $5.9 million for the fourth quarter of 2024, which equates to a loss of $0.54 per share. This represents an increase from the net loss of $4.2 million, or $0.39 per share, in the same quarter of the previous year. The company's research and development expenses rose significantly to $16.1 million in 2024, up from $11.9 million in 2023, as Lantern Pharma continues to invest in its AI-driven drug development platform. The company ended the year with a cash position of $24 million as of December 31, 2024. Lantern Pharma is advancing three molecules in its pipeline, with LP300 showing progress in Asian trials. The company expects multiple data readouts in 2025, including the completion of the LP184 Phase One trial and a data update for LP300 in the second quarter. Lantern Pharma is actively seeking additional funding opportunities to support its growth plans.
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