Lantern Pharma Inc. Notified of Nasdaq Non‑Compliance (MVLS)

What Happened

• On September 25, 2026, Lantern Pharma Inc. announced it received a notice from The Nasdaq Stock Market LLC that it is not in compliance with Nasdaq Listing Rule 5550(b)(2) because the market value of listed securities (MVLS) for its common stock has been below the $35,000,000 minimum for the last 30 consecutive business days. Nasdaq also noted the Company does not meet the requirements under Listing Rules 5550(b)(1) and 5550(b)(3).
• Under Nasdaq Listing Rule 5810(c)(3)(C), Lantern has a 180-calendar-day cure period—until March 24, 2027—to regain compliance. To cure via the MVLS standard, the Company’s MVLS must close at $35,000,000 or more for at least 10 consecutive business days during that period. If the Company does not regain compliance, Nasdaq would be expected to provide notice that its securities are subject to delisting from the Nasdaq Capital Market.

Key Details

• Notice date: September 25, 2026.
• MVLS shortfall: below Nasdaq’s $35,000,000 minimum for 30 consecutive business days (Listing Rule 5550(b)(2)).
• Cure period: 180 calendar days ending March 24, 2027 (Listing Rule 5810(c)(3)(C)).
• Cure condition via MVLS: market value must close ≥ $35,000,000 for 10 consecutive business days; failure to cure may lead to delisting notice.

Why It Matters

• The notice triggers a formal 180‑day compliance period and puts the company at risk of Nasdaq delisting if it does not meet the specified MVLS or other listing standards. Delisting or being subject to delisting can affect a stock’s liquidity, visibility, and investors’ ability to trade on the Nasdaq Capital Market. Investors should monitor company updates for actions taken to regain compliance and any further Nasdaq communications.