Lantern Pharma Inc. (NASDAQ:LTRN) shares are trading higher Monday morning. The surge follows a volatile Friday where shares plummeted over 46%.
The company moved quickly to address what it termed “fabricated” information regarding its leadership.
Company Refutes False CEO Resignation
Lantern Pharma issued a statement late Friday to correct a third-party report. The report incorrectly claimed Panna Sharma had stepped down as President and CEO.
“This claim is false, entirely without basis, and appears designed to mislead investors,” the company stated. Lantern confirmed that Sharma remains fully engaged in his roles.
Board Maintains Full Confidence
The Board of Directors clarified they have not planned any leadership changes. Chairman Donald Jeff Keyser expressed “full confidence” in Sharma’s leadership. Keyser noted the company is investigating the origin of the article and potential coordinated trading activity.
Clinical Progress and Earnings Focus
The volatility overshadowed Friday’s news regarding Starlight Therapeutics. The U.S. Food and Drug Administration cleared an IND application for a Phase 1 pediatric clinical trial of STAR-001.
Investors now look toward the fourth quarter of 2025 earnings call on Monday.
Technical Analysis
Lantern Pharma is trading 47.1% below its 20-day simple moving average (SMA) and 59.1% below its 100-day SMA, keeping the trend firmly bearish across multiple timeframes.
Shares are down 68.36% over the past 12 months and are sitting much closer to the 52-week low of $1.11 than the 52-week high of $5.74.
The RSI is at 14.35, which is deeply oversold. Meanwhile, MACD is at -0.2684 versus a signal line at -0.1857.
- Key Resistance: $2.50
- Key Support: $1.00
LTRN Stock Price Activity: Lantern Pharma shares were up 11.61% at $1.25 during premarket trading on Monday, according to Benzinga Pro data.
Photo by Thapana_Studio via Shutterstock
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