Form 4: Lantern Pharma Director and 10% Owner Entities Divest Over 56,000 Shares

Entities associated with Leslie W. Kreis, a Director and 10% owner of Lantern Pharma Inc., reported the sale of 56,237 shares of common stock across multiple transactions in late May 2025.

Summary

• Leslie W. Kreis, a Director and 10% Owner of Lantern Pharma Inc. (LTRN), along with associated entities including Bios Fund I QP, LP, Bios Fund I, LP, Bios Fund II NT, LP, Bios Fund II QP, LP, and Bios Fund II, LP, reported sales of common stock.
• A total of 56,237 shares were disposed of across three trading days: May 27, 28, and 29, 2025.
• On May 27, 2025, 21,037 shares were sold at a weighted average price of $3.05 per share, with prices ranging from $2.87 to $3.21.
• On May 28, 2025, 15,000 shares were sold at a weighted average price of $2.87 per share, with prices ranging from $2.85 to $2.94.
• On May 29, 2025, 20,200 shares were sold at a weighted average price of $3.03 per share, with prices ranging from $3.00 to $3.13.
• Following these transactions, the indirect beneficial ownership of the reporting entities totals 1,177,565 shares of common stock.
• The filing also notes a change in the Power of Attorney, appointing John Fucci and Troy Osborn as new attorneys-in-fact for SEC filings, replacing Daniel Schwarz, effective May 22, 2025.

Sentiment

Score: 3

Explanation: The sale of a significant number of shares by a director and 10% owner, Leslie W. Kreis, through associated entities, is typically viewed negatively by the market as it may signal a lack of confidence in the company's future performance or valuation.

Negatives

• Significant selling of 56,237 shares by a Director and 10% owner, Leslie W. Kreis, through associated entities.
• The sales occurred over three consecutive trading days, potentially indicating a deliberate reduction in exposure.
• The transactions were executed at weighted average prices ranging from $2.87 to $3.05, which could be perceived as a lack of confidence in higher future prices by the insider.

Risks

• Insider selling can signal a lack of confidence in the company's future prospects or valuation by those with intimate knowledge of the company.
• Increased selling pressure on the stock due to the volume of shares disposed of by a significant shareholder.
• Potential negative investor sentiment following the disclosure of insider sales.

Future Outlook

NA

Management Comments

• The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1) and (2) to this Form 4.
• For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.

Industry Context

This Form 4 filing is specific to insider trading activity at Lantern Pharma Inc. and does not provide broader industry context or trends. Insider selling can be a common occurrence across various industries for personal financial planning reasons, but significant sales by key personnel in a biotechnology company like Lantern Pharma, which often relies on investor confidence for R&D funding, can be particularly scrutinized.

Management Changes

Corporate Governance

Related Party Transactions

• The reported sales of common stock by Bios Fund I QP, LP, Bios Fund I, LP, Bios Fund II NT, LP, Bios Fund II QP, LP, and Bios Fund II, LP are considered related party transactions as these entities are indirectly managed and controlled by Leslie W. Kreis, a Director and 10% owner of Lantern Pharma Inc., and Aaron Glenn Louis Fletcher.

Stakeholder Impact

• Shareholders may interpret the insider selling as a negative signal, potentially leading to decreased investor confidence and downward pressure on the stock price.
• The transactions reflect a reduction in exposure by a significant institutional investor group, which could influence other institutional and retail investors' perceptions of the company's value.

Key Dates

Keywords

Lantern Pharma Inc., LTRN, SEC Form 4, insider selling, beneficial ownership, Leslie W. Kreis, 10% owner, director, stock sale, equity disposal, Bios Fund, Cavu Management, corporate governance