Lantern Pharma's financials are a bit concerning.
Lantern should be avoided right now until a bottom is confirmed. The company is not a buy right now. In June Lantern IPOd 1.75M shares for $26,250,000.
Cash Position: Cash and cash equivalents were $23.8 million as of June 30, 2020, compared to $1.2 million as of December 31, 2019. The increase was primarily due to proceeds from the IPO in June 2020.
They had a cash position of $1.2M in December and after the cash injection they only spent $157k on R&D after having spent $361k - not a good sign development is going well & then finished the quarter with a $833,422 loss.... which essentially means even if the company zombied out they could live off of this amount for 7.5 years before burning out of cash.
They did exactly what you do not want a startup to do - they blew up Administrative expenses to $676,399 compared to $268,120 the prior quarter.
If you are trying to bring cancer therapies to market through utilization of A.I. - you invest in R&D and not admin bloat.
Cash Position: Cash and cash equivalents were $23.8 million as of June 30, 2020, compared to $1.2 million as of December 31, 2019. The increase was primarily due to proceeds from the IPO in June 2020.
They had a cash position of $1.2M in December and after the cash injection they only spent $157k on R&D after having spent $361k - not a good sign development is going well & then finished the quarter with a $833,422 loss.... which essentially means even if the company zombied out they could live off of this amount for 7.5 years before burning out of cash.
They did exactly what you do not want a startup to do - they blew up Administrative expenses to $676,399 compared to $268,120 the prior quarter.
If you are trying to bring cancer therapies to market through utilization of A.I. - you invest in R&D and not admin bloat.