$LTRN
Lantern Pharma Inc.

2024 Q1 Form 10-K Financial Statement

#000149315224010302 Filed on March 18, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.481M $1.304M $5.983M
YoY Change -14.54% -17.18% 2.63%
% of Gross Profit
Research & Development $4.251M $3.573M $11.89M
YoY Change 66.51% 58.7% 38.26%
% of Gross Profit
Depreciation & Amortization $4.061K $3.980K $14.62K
YoY Change 18.81% 44.2% 44.98%
% of Gross Profit
Operating Expenses $5.732M $4.877M $17.88M
YoY Change 33.73% 27.47% 23.87%
Operating Profit -$5.732M -$17.88M
YoY Change 33.73% 23.87%
Interest Expense $201.0K $267.4K $765.4K
YoY Change 50.21% 258.05% 274.53%
% of Operating Profit
Other Income/Expense, Net $90.24K $424.1K $1.151M
YoY Change -68.31% 14.46% -3747.29%
Pretax Income -$5.441M -$4.186M -$15.96M
YoY Change 40.67% 23.8% 11.93%
Income Tax
% Of Pretax Income
Net Earnings -$5.441M -$4.186M -$15.96M
YoY Change 40.67% 23.8% 11.94%
Net Earnings / Revenue
Basic Earnings Per Share -$0.51 -$1.47
Diluted Earnings Per Share -$0.51 -$0.39 -$1.47
COMMON SHARES
Basic Shares Outstanding 10.74M shares 10.87M shares 10.84M shares
Diluted Shares Outstanding 10.74M shares 10.84M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $38.36M $41.30M $41.30M
YoY Change -25.58% -25.17% -25.17%
Cash & Equivalents $18.36M $21.94M
Short-Term Investments $20.00M $19.36M $19.36M
Other Short-Term Assets $1.113M $2.039M $2.039M
YoY Change -69.32% -42.19% -42.19%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $39.47M $43.34M $43.34M
YoY Change -28.45% -26.19% -26.19%
LONG-TERM ASSETS
Property, Plant & Equipment $50.28K $52.13K $280.4K
YoY Change -5.95% 8.58% 193.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $25.87K $25.87K $25.87K
YoY Change -21.54% 44.61% 44.61%
Total Long-Term Assets $263.4K $306.3K $306.3K
YoY Change -22.94% 169.66% 169.67%
TOTAL ASSETS
Total Short-Term Assets $39.47M $43.34M $43.34M
Total Long-Term Assets $263.4K $306.3K $306.3K
Total Assets $39.73M $43.65M $43.65M
YoY Change -28.42% -25.82% -25.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.775M $2.505M $2.505M
YoY Change 41.21% -8.75% -8.75%
Accrued Expenses $178.0K $173.0K $173.0K
YoY Change 48.87% 227.06% 227.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.953M $2.678M $2.678M
YoY Change 41.54% -4.29% -4.29%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $15.56K $61.50K $61.50K
YoY Change -88.94%
Total Long-Term Liabilities $15.56K $61.50K $61.50K
YoY Change -88.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.953M $2.678M $2.678M
Total Long-Term Liabilities $15.56K $61.50K $61.50K
Total Liabilities $3.969M $2.740M $2.740M
YoY Change 35.28% -2.09% -2.09%
SHAREHOLDERS EQUITY
Retained Earnings -$60.69M -$55.24M
YoY Change 40.64% 40.63%
Common Stock $1.076K $1.072K
YoY Change -0.92% -1.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $35.77M $40.91M $40.91M
YoY Change
Total Liabilities & Shareholders Equity $39.73M $43.65M $43.65M
YoY Change -28.42% -25.82% -25.82%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$5.441M -$4.186M -$15.96M
YoY Change 40.67% 23.8% 11.94%
Depreciation, Depletion And Amortization $4.061K $3.980K $14.62K
YoY Change 18.81% 44.2% 44.98%
Cash From Operating Activities -$3.069M -$3.385M -$14.35M
YoY Change -18.33% 26.85% 12.37%
INVESTING ACTIVITIES
Capital Expenditures $2.217K $5.080K $18.73K
YoY Change -75.02% -26.91% -32.72%
Acquisitions
YoY Change
Other Investing Activities -$554.0K $261.3K -$911.5K
YoY Change -41.81% -57.16% -540.09%
Cash From Investing Activities -$556.2K $256.2K -$930.2K
YoY Change -42.12% -57.51% -618.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $500.0K
YoY Change -79.86%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $54.72K -500.0K -$500.0K
YoY Change -77.09%
NET CHANGE
Cash From Operating Activities -$3.069M -3.385M -$14.35M
Cash From Investing Activities -$556.2K 256.2K -$930.2K
Cash From Financing Activities $54.72K -500.0K -$500.0K
Net Change In Cash -$3.580M -3.629M -$15.81M
YoY Change -24.21% 75.66% 6.93%
FREE CASH FLOW
Cash From Operating Activities -$3.069M -$3.385M -$14.35M
Capital Expenditures $2.217K $5.080K $18.73K
Free Cash Flow -$3.071M -$3.390M -$14.37M
YoY Change -18.46% 26.71% 12.27%

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CY2023 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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CY2022 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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NetCashProvidedByUsedInInvestingActivities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q4 us-gaap Restricted Cash
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023 us-gaap Use Of Estimates
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<p id="xdx_847_eus-gaap--UseOfEstimates_z40QvOOteE8j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zRcdZE2M6sW9">Use of Estimates and Assumptions</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The significant areas of estimation include determining research and development accruals, the inputs in determining the fair value of equity-based awards and warrants issued, the inputs in determining present value of lease payments, and fair value of marketable securities. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023 us-gaap Concentration Risk Credit Risk
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<p id="xdx_84A_eus-gaap--ConcentrationRiskCreditRisk_zys6W5QT1Wlf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_znSyDlZQB4D3">Risks and Uncertainties</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company operates in an industry that is subject to intense competition, government regulation and rapid technological change. Operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory, and other risks, including the potential risk of business failure.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our marketable securities have had and may in the future have their market value fluctuate due to rises or falls in interest rates. While we believe our cash, cash equivalents and marketable securities do not contain excessive risk, we cannot provide absolute assurance that in the future our investments will not be subject to adverse changes in market value. In addition, we maintain significant amounts of cash and cash equivalents at one or more financial institutions that are federally insured. Interest bearing and non-interest bearing accounts we hold at these banking institutions are guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) up to $<span id="xdx_90B_eus-gaap--CashFDICInsuredAmount_iI_pid_c20231231__srt--RangeAxis__srt--MaximumMember_zsbZ2abn7AH4" title="Cash FDIC insured amount">250,000</span> per depositor, per FDIC-insured bank, per ownership category. Substantially all of our cash balances held at banking institutions at December 31, 2023 are in excess of FDIC coverage.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
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CashEquivalentsAtCarryingValue
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UpfrontPaymentsForContractorFeesAcademicResearchStudiesAndServicesAndSubscriptions
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IntellectualPropertyRelatedLicensingAndOtherFees
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OperatingLeaseLiability
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CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
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OperatingLeaseLiability
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OperatingLeaseLiabilityAmortizationExpense
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OperatingLeaseLiability
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CY2023 LTRN Remeasurement Of Operating Lease Liability
RemeasurementOfOperatingLeaseLiability
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CY2023 LTRN Operating Lease Rightofuse Asset Acquired
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CY2023 LTRN Operating Lease Liability Acquired
OperatingLeaseLiabilityAcquired
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OperatingLeaseRightOfUseAssetAmortizationExpense
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CY2023 LTRN Operating Lease Liability Amortization Expense
OperatingLeaseLiabilityAmortizationExpense
159255 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2023Q4 us-gaap Operating Lease Liability
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CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0465 pure
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
178000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
144000 usd
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
14000 usd
CY2023 us-gaap Lease Cost
LeaseCost
192000 usd
CY2022 us-gaap Lease Cost
LeaseCost
144000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
177000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
158000 usd
CY2023 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
63000 usd
CY2023 us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
2500 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25000000 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25000000 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
10721192 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
10721192 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
10857040 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
10857040 shares
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.87
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.11
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2022 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Term1
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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1526000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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2422000 usd
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2361000 usd
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
136000 usd
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CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
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DebtSecuritiesAvailableForSaleFairValuePositionLessThan12MonthsAccumulatedLoss
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DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
8135 usd
CY2023Q4 LTRN Debt Securities Available For Sale Continuous Fair Value Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousFairValuePosition12MonthsOrLongerAccumulatedLoss
13051608 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
556825 usd
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
29617489 usd
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
17994299 usd
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1269194 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1215589 shares
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.03 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.24 pure
CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
1436914 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
862366 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
538771 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
441939 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
7383777 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
6474825 usd
CY2023Q4 us-gaap Deferred Tax Assets Unrealized Losses On Trading Securities
DeferredTaxAssetsUnrealizedLossesOnTradingSecurities
22624 usd
CY2022Q4 us-gaap Deferred Tax Assets Unrealized Losses On Trading Securities
DeferredTaxAssetsUnrealizedLossesOnTradingSecurities
62640 usd
CY2023Q4 LTRN Deferred Tax Assets Research And Development Amortization
DeferredTaxAssetsResearchAndDevelopmentAmortization
3164305 usd
CY2022Q4 LTRN Deferred Tax Assets Research And Development Amortization
DeferredTaxAssetsResearchAndDevelopmentAmortization
1343382 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
12546391 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
9185152 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
12542542 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
9181492 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
3849 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
3660 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
3849 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
3660 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
34500000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
29100000 usd
CY2023 LTRN Nol Carryforwards Description
NOLCarryforwardsDescription
The NOL carryforwards generated prior to 2018 of approximately $3,100,000 could expire over time beginning in 2035, if not used. The NOL carryforwards generated from January 1, 2018 through December 31, 2023 of approximately $31,400,000 do not expire and are carried forward indefinitely
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
925000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Other
DeferredTaxAssetsTaxCreditCarryforwardsOther
274000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
1433000 usd
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023 dei Auditor Firm
AuditorFirmId
274

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