0001763950 2025-01-01 2025-12-31 0001763950 2024-01-01 2024-12-31 0001763950 LTRN:ReportedValueOfEquityAwardsForCEOMember ecd:PeoMember 2025-01-01 2025-12-31 0001763950 LTRN:FairValueAsOfYearEndForUnvestedAwardsGrantedDuringTheYearMember ecd:PeoMember 2025-01-01 2025-12-31 0001763950 LTRN:FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember ecd:PeoMember 2025-01-01 2025-12-31 0001763950 LTRN:FairValueAsOfVestingDateForAwardsGrantedAndVestedDuringTheYearMember ecd:PeoMember 2025-01-01 2025-12-31 0001763950 LTRN:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember ecd:PeoMember 2025-01-01 2025-12-31 0001763950 LTRN:ReportedValueOfEquityAwardsForCEOMember ecd:PeoMember 2024-01-01 2024-12-31 0001763950 LTRN:FairValueAsOfYearEndForUnvestedAwardsGrantedDuringTheYearMember ecd:PeoMember 2024-01-01 2024-12-31 0001763950 LTRN:FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember ecd:PeoMember 2024-01-01 2024-12-31 0001763950 LTRN:FairValueAsOfVestingDateForAwardsGrantedAndVestedDuringTheYearMember ecd:PeoMember 2024-01-01 2024-12-31 0001763950 LTRN:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember ecd:PeoMember 2024-01-01 2024-12-31 0001763950 LTRN:ReportedValueOfEquityAwardsForNonCEONEOsMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001763950 LTRN:FairValueAsOfYearEndForUnvestedAwardsGrantedDuringTheYearMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001763950 LTRN:FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001763950 LTRN:FairValueAsOfVestingDateForAwardsGrantedAndVestedDuringTheYearMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001763950 LTRN:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember ecd:NonPeoNeoMember 2025-01-01 2025-12-31 0001763950 LTRN:ReportedValueOfEquityAwardsForNonCEONEOsMember ecd:NonPeoNeoMember 2024-01-01 2024-12-31 0001763950 LTRN:FairValueAsOfYearEndForUnvestedAwardsGrantedDuringTheYearMember ecd:NonPeoNeoMember 2024-01-01 2024-12-31 0001763950 LTRN:FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember ecd:NonPeoNeoMember 2024-01-01 2024-12-31 0001763950 LTRN:FairValueAsOfVestingDateForAwardsGrantedAndVestedDuringTheYearMember ecd:NonPeoNeoMember 2024-01-01 2024-12-31 0001763950 LTRN:FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember ecd:NonPeoNeoMember 2024-01-01 2024-12-31 0001763950 2023-11-27 2025-01-01 2025-12-31 iso4217:USD false 0001763950 PRE 14A LANTERN PHARMA INC. true <table cellpadding="0" cellspacing="0" id="xdx_888_eecd--PvpTableTextBlock_z4eqvrDMZJyl" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Pay vs Performance Disclosure"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Year</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_48B_eecd--PeoTotalCompAmt_zaXizfAfnSVf" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Summary Compensation Table Total for CEO(1)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" id="xdx_48B_eecd--PeoActuallyPaidCompAmt_zhHhq0gMjb4k" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Compensation Actually Paid to CEO(2)</td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_48E_eecd--NonPeoNeoAvgTotalCompAmt_zl52a4wRZWj5" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Average Summary Compensation Table Total for Non-CEO NEOs(3)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" id="xdx_482_eecd--NonPeoNeoAvgCompActuallyPaidAmt_z4iz4GiVAmp4" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Average Compensation Actually Paid to Non-CEO NEOs(4)</td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_48E_eecd--TotalShareholderRtnAmt_pp2d_zdOOFpsM4RSi" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Value of Initial Fixed $100 Investment Based On Total Shareholder Return(5)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_485_eus-gaap--NetIncomeLoss_zv3IlYWivByf" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Net Loss</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_414_20250101__20251231_zYkySREAKkBb" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 10%; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right">763,750</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%">$</td> <td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right">778,962</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right">415,002</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%">$</td> <td style="font-family: Times New Roman, Times, Serif; width: 12%; text-align: right">417,045</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 11%; text-align: right">70.79</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right">(17,119,438</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">)</td></tr> <tr id="xdx_410_20240101__20241231_zyCIDI9HTwxc" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2024</td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right">1,090,634</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif">$</td> <td style="font-family: Times New Roman, Times, Serif; text-align: right">1,023,690</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right">646,003</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif">$</td> <td style="font-family: Times New Roman, Times, Serif; text-align: right">607,117</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right">74.53</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right">(20,781,213</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">)</td></tr> </table> 763750 778962 415002 417045 70.79

-17119438

1090634 1023690 646003 607117 74.53

-20781213

<div style="font-family: Times New Roman, Times, Serif; width: 25%"><div style="border-top: Black 1pt solid; font: 1pt Times New Roman, Times, Serif"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The dollar amounts reported are the amounts of total compensation reported for our CEO, Panna Sharma, in the Summary Compensation Table for fiscal years 2025 and 2024.</td></tr> </table> Panna Sharma Panna Sharma <p id="xdx_890_eecd--AdjToPeoCompFnTextBlock_dU_zCIWJa8BlUk9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-top: 0pt; text-align: justify; padding-right: 0pt; padding-bottom: 0pt"> To calculate the amounts in the “Compensation Actually Paid to CEO” column in the table above, the following amounts were deducted from and added to (as applicable) our CEO’s “Total” compensation as reported in the Summary Compensation Table: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Year</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_48E_eecd--PeoTotalCompAmt_zVkJ0jEuIVUk" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: center">Summary Compensation Table Total for CEO</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_487_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--ReportedValueOfEquityAwardsForCEOMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember_zZ11SMM4Rg05" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Reported Value of Equity Awards for CEO(1)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" id="xdx_48C_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--FairValueAsOfYearEndForUnvestedAwardsGrantedDuringTheYearMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember_ztWpEhKAhHm6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Fair Value as of Year End for Unvested Awards Granted During the Year</td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" id="xdx_482_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember_z11Xkpv7ay7k" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Fair Value Year over Year Increase or Decrease in Unvested Awards Granted in Prior Years</td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_487_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--FairValueAsOfVestingDateForAwardsGrantedAndVestedDuringTheYearMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember_zxtXZpH4rw38" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Fair Value as of Vesting Date for Awards Granted and Vested During the Year</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" id="xdx_48F_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember__ecd--ExecutiveCategoryAxis__ecd--PeoMember_zFKCTgzTSMF7" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Fair Value Increase or Decrease from Prior Year End for Awards that Vested during the Year</td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" id="xdx_48D_eecd--PeoActuallyPaidCompAmt_zrOwoh6qe7c6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Compensation Actually Paid to CEO</td></tr> <tr id="xdx_419_20250101__20251231_zAmfrBmYNh7h" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 10%; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right">763,750</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right">—</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%">$</td> <td style="font-family: Times New Roman, Times, Serif; width: 8%; text-align: right">—</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%">$</td> <td style="font-family: Times New Roman, Times, Serif; width: 8%; text-align: right">(5,221</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 8%; text-align: right">—</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%">$</td> <td style="font-family: Times New Roman, Times, Serif; width: 8%; text-align: right">20,433</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%">$</td> <td style="font-family: Times New Roman, Times, Serif; width: 9%; text-align: right">778,962</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_412_20240101__20241231_zyvSMQvZ6Vik" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2024</td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right">1,090,634</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right">(223,534</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif">$</td> <td style="font-family: Times New Roman, Times, Serif; text-align: right">119,786</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif">$</td> <td style="font-family: Times New Roman, Times, Serif; text-align: right">(15,531</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right">36,278</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif">$</td> <td style="font-family: Times New Roman, Times, Serif; text-align: right">16,057</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif">$</td> <td style="font-family: Times New Roman, Times, Serif; text-align: right">1,023,690</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <div style="font-family: Times New Roman, Times, Serif; width: 25%"><div style="border-top: Black 1pt solid; font: 1pt Times New Roman, Times, Serif"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Represents the grant date fair value of the equity awards to our CEO, as reported in the Summary Compensation Table</td></tr> </table> 763750 -5221 20433 778962 1090634 -223534 119786 -15531 36278 16057 1023690 <p id="xdx_895_eecd--AdjToNonPeoNeoCompFnTextBlock_dU_zbCzaYIkymib" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-top: 0pt; text-align: justify; padding-right: 0pt; padding-bottom: 0pt"> To calculate the amounts in the “Compensation Actually Paid to Non-CEO NEOs” column in the table above, the following amounts were deducted from and added to (as applicable) the average “Total” compensation of our Non-CEO NEOs as reported in the Summary Compensation Table: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Year</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_48E_eecd--NonPeoNeoAvgTotalCompAmt_zBljYoN4zsr2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: center">Summary Compensation Table Total for Non-CEO NEOs</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_485_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--ReportedValueOfEquityAwardsForNonCEONEOsMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zEFzqbolajch" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Reported Value of Equity Awards for Non-CEO NEOs(1)</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" id="xdx_487_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--FairValueAsOfYearEndForUnvestedAwardsGrantedDuringTheYearMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zARxGpgRBsM6" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Fair Value as of Year End for Unvested Awards Granted During the Year</td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" id="xdx_48D_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--FairValueYearOverYearIncreaseOrDecreaseInUnvestedAwardsGrantedInPriorYearsMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zeX1zEyMcFy1" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Fair Value Year over Year Increase or Decrease in Unvested Awards Granted in Prior Years</td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_48F_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--FairValueAsOfVestingDateForAwardsGrantedAndVestedDuringTheYearMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zkLZWQnTlLP2" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Fair Value as of Vesting Date for Awards Granted and Vested During the Year</td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt; font-weight: bold"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" id="xdx_48F_eecd--AdjToCompAmt_hecd--AdjToCompAxis__custom--FairValueIncreaseOrDecreaseFromPriorYearEndForAwardsThatVestedDuringTheYearMember__ecd--ExecutiveCategoryAxis__ecd--NonPeoNeoMember_zmQtTNyCmin4" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Fair Value Increase or Decrease from Prior Year end for Awards that Vested during the Year</td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" id="xdx_48C_eecd--NonPeoNeoAvgCompActuallyPaidAmt_zA6e45yFLUri" style="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">Compensation Actually Paid to Non-CEO NEOs</td></tr> <tr id="xdx_419_20250101__20251231_z31zGcdaZRfk" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 10%; font-weight: bold; text-align: center">2025</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; font-weight: bold; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right">415,002</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 10%; text-align: right">(33,600</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%">$</td> <td style="font-family: Times New Roman, Times, Serif; width: 8%; text-align: right">31,467</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%"> $</td> <td style="font-family: Times New Roman, Times, Serif; width: 8%; text-align: right">(3,245</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; width: 8%; text-align: right">—</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%">$</td> <td style="font-family: Times New Roman, Times, Serif; width: 8%; text-align: right">7,421</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif; width: 2%"> </td> <td style="font-family: Times New Roman, Times, Serif; width: 1%">$</td> <td style="font-family: Times New Roman, Times, Serif; width: 9%; text-align: right">417,045</td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr id="xdx_412_20240101__20241231_zG5Pa7MN8Qac" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center">2024</td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right">646,003</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right">(139,049</td><td style="font-family: Times New Roman, Times, Serif; text-align: left">)</td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif">$</td> <td style="font-family: Times New Roman, Times, Serif; text-align: right">74,439</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif"> $</td> <td style="font-family: Times New Roman, Times, Serif; text-align: right">—</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif; text-align: left">$</td><td style="font-family: Times New Roman, Times, Serif; text-align: right">22,543</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif">$</td> <td style="font-family: Times New Roman, Times, Serif; text-align: right">3,181</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td><td style="font-family: Times New Roman, Times, Serif"> </td> <td style="font-family: Times New Roman, Times, Serif">$</td> <td style="font-family: Times New Roman, Times, Serif; text-align: right">607,117</td><td style="font-family: Times New Roman, Times, Serif; text-align: left"> </td></tr> </table> <div style="font-family: Times New Roman, Times, Serif; width: 25%"><div style="border-top: Black 1pt solid; font: 1pt Times New Roman, Times, Serif"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Represents the grant date fair value of the equity awards to our Non-CEO NEOs, as reported in the Summary Compensation Table</td></tr> </table> 415002 -33600 31467 -3245 7421 417045 646003 -139049 74439 22543 3181 607117 <p id="xdx_89E_eecd--CompActuallyPaidVsTotalShareholderRtnTextBlock_dU_z8dPVTDfNj71" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-top: 0pt; text-align: justify; padding-right: 0pt; padding-bottom: 0pt">Relationship between Pay and Performance Our “total shareholder return,” as set forth in the above table, during the two-year period ended December 31, 2025 decreased by 29% compared to (a) a 24% decrease in “compensation actually paid” to our CEO from $1,023,690 in 2024 to $778,962 in 2025 and (b) a 31% decrease in average “compensation actually paid” to our non-CEO NEOs from $607,117 in 2024 to $417,045 in 2025. Our net loss during the two-year period ended December 31, 2025 decreased by 17.62%, from $(20,781,213) in 2024 to $(17,119,438) in 2025 compared to the aforementioned decreases in “compensation actually paid” to our CEO and non-CEO NEOs. Our Compensation Committee reviews and approves annual equity award grants to our executive officers. In doing so, our Compensation Committee takes into account the presence of any material nonpublic information concerning our Company when approving awards of options, and we do not time the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation. During 2025, our Compensation Committee did not grant any options to a named executive officer of the Company during the period commencing four business days prior to, and ending one business day following, our disclosure of any material nonpublic information by way of a report filed with the SEC or otherwise. true we do not time the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation. During 2025, our Compensation Committee did not grant any options to a named executive officer of the Company during the period commencing four business days prior to, and ending one business day following, our disclosure of any material nonpublic information by way of a report filed with the SEC or otherwise. false On <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY292ZXJ5IG9mIEVycm9uZW91c2x5IEF3YXJkZWQgQ29tcGVuc2F0aW9uAA__" id="xdx_906_eecd--RestatementDeterminationDate_dd_c20250101__20251231__ecd--RestatementDateAxis__2023-11-27_zyaeLBxbGkGk">November 27, 2023, our Board approved the adoption of an Executive Officer Clawback Policy (the “Clawback Policy”), with an effective date of October 2, 2023, in order to comply with the final clawback rules adopted by the SEC under Section 10D and Rule 10D-1 of the Securities Exchange Act of 1934, as amended (“Rule 10D-1”), and the listing standards, as set forth in the Nasdaq Listing Rule 5608 (the “Final Clawback Rules”). The Clawback Policy provides for the mandatory recovery of erroneously awarded incentive-based compensation from current and former executive officers as defined in Rule 10D-1 (“Covered Officers”) of the Company in the event that the Company is required to prepare an accounting restatement, in accordance with the Final Clawback Rules. The recovery of such compensation applies regardless of whether a Covered Officer engaged in misconduct or otherwise caused or contributed to the requirement of an accounting restatement. Under the Clawback Policy, our Board may recoup from the Covered Officers erroneously awarded incentive compensation received within a lookback period of the three completed fiscal years preceding the date on which the Company is required to prepare an accounting restatement. 2023-11-27 The dollar amounts reported are the amounts of total compensation reported for our CEO, Panna Sharma, in the Summary Compensation Table for fiscal years 2025 and 2024. The dollar amounts reported are the amounts of total compensation reported for Mr. Sharma in the Summary Compensation Table for the applicable year, excluding the reported value for equity awards but including (i) the year-end value of equity awards granted during the reported year that are unvested as of the reported year-end, (ii) the change in the value of equity awards granted in a prior year (measured as of the end of the reported year from the end of the prior fiscal year) that were unvested at the end of the reported year, (iii) the change in the value of equity awards granted in a prior year that vest in the reported year (measured as of the end of the prior fiscal year through the vesting date), and (iv) the vesting date value of equity awards issued and vested during the reported fiscal year. See Table below for further information. The dollar amounts reported are the average of the total compensation reported for our NEOs, other than our CEO, namely David Margrave and Kishor Bhatia, Ph.D., in the Summary Compensation Table for fiscal years 2025 and 2024. The dollar amounts reported are the average of the total compensation reported for our NEOs, other than our CEO, in the Summary Compensation Table for the applicable year, excluding the reported value for equity awards but including (i) the year-end value of equity awards granted during the reported year that are unvested as of the reported year-end, (ii) the change in the value of equity awards granted in a prior year (measured as of the end of the reported year from the end of the prior fiscal year) that were unvested at the end of the reported year, (iii) the change in the value of equity awards granted in a prior year that vest in the reported year (measured as of the end of the prior fiscal year through the vesting date), and (iv) the vesting date value of equity awards issued and vested during the reported fiscal year. See Table below for further information. Reflects the cumulative shareholder return, computed in accordance with SEC rules, as of the end of each fiscal year assuming an investment of $100 in our common shares at a price per share equal to $4.28, the closing price of our common stock on the last trading day in 2023, December 29, 2023. Represents the grant date fair value of the equity awards to our CEO, as reported in the Summary Compensation Table Represents the grant date fair value of the equity awards to our Non-CEO NEOs, as reported in the Summary Compensation Table