Form 4: Lantern Pharma Director and 10% Owner Sells Over 61,000 Shares Through Affiliated Funds

A director and 10% owner of Lantern Pharma Inc., Aaron G.L. Fletcher, along with several affiliated Bios Funds, disposed of a total of 61,613 shares of common stock over three days in June 2025.

Summary

• Aaron G.L. Fletcher, a Director and 10% Owner of Lantern Pharma Inc. (LTRN), reported the sale of common stock through various affiliated Bios Funds.
• A total of 61,613 shares of Lantern Pharma common stock were sold across multiple transactions from June 10, 2025, to June 12, 2025.
• The sales were executed 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.
• Transaction prices ranged from $3.25 to $3.57 per share, with weighted average prices of $3.40 on June 10 and 11, 2025, and $3.38 on June 12, 2025.
• Following these transactions, the indirect beneficial ownership of common stock by the reporting entities stands at: Bios Fund I QP, LP (196,323 shares), Bios Fund I, LP (335,654 shares), Bios Fund II NT, LP (51,860 shares), Bios Fund II QP, LP (387,396 shares), Bios Fund II, LP (118,626 shares), and BP Directors, LP (26,093 shares).
• This Form 4 is the first of two filings related to the same event, necessitated by the SEC's EDGAR system limit of 10 reporting persons per Form 4; the second filing will be made by Leslie W. Kreis.

Sentiment

Score: 3

Explanation: The sentiment is negative due to significant insider selling by a director and 10% owner, which can signal a lack of confidence or a desire to reduce exposure, potentially leading to downward pressure on the stock price.

Negatives

• A director and 10% owner, along with affiliated investment funds, sold a significant number of shares, which can be perceived negatively by the market as it may signal a lack of confidence or a move to reduce exposure.
• The sales occurred over three consecutive trading days, indicating a systematic reduction in holdings by these key stakeholders.

Risks

• The sale of shares by a director and 10% owner could lead to negative market sentiment and potential downward pressure on Lantern Pharma's stock price.
• Further sales by these or other insiders could exacerbate selling pressure and impact investor confidence.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic outlook.

Industry Context

This filing is an insider transaction report specific to Lantern Pharma Inc. and does not provide broader industry context or trends. It reflects a decision by a significant shareholder to reduce their stake.

Related Party Transactions

• The reported sales of common stock were conducted by investment funds (Bios Fund I QP, LP, Bios Fund I, LP, Bios Fund II NT, LP, Bios Fund II QP, LP, Bios Fund II, LP) that are indirectly controlled by Aaron G.L. Fletcher, a Director and 10% Owner of Lantern Pharma Inc., and Leslie W. Kreis, Jr., through a complex structure of general partners including Bios Equity Partners, LP, Bios Equity Partners II, LP, Cavu Management, LP, Bios Capital Management, LP, Cavu Advisors LLC, and Bios Advisors GP, LLC.

Stakeholder Impact

• Shareholders may perceive the insider selling as a negative signal, potentially leading to decreased investor confidence and downward pressure on the stock price.
• The reduction in holdings by a significant 10% owner could alter the ownership structure and influence future corporate governance dynamics.

Next Steps

• A second Form 4 filing related to these transactions will be filed by Leslie W. Kreis, as indicated in the remarks.

Key Dates

Recommendation

Keywords

Lantern Pharma Inc., LTRN, SEC Form 4, Insider Trading, Stock Sale, Director Transactions, 10% Owner, Beneficial Ownership, Bios Partners, Equity Sales