Lantern Pharma Inc. (NASDAQ: LTRN) denied claims that President and CEO Panna Sharma has stepped down from his position, calling a third-party article making such assertions "false" and "entirely without basis."

The Dallas-based oncology company said the unverified report appears designed to mislead investors. Sharma continues to serve as President, CEO, and Director of the company and has no intention to step down, according to the statement.

Board Chairman Donald Jeff Keyser said the board maintains "full confidence" in Sharma's leadership. "We are disturbed by what appears to be a deliberate third-party attempt to mislead investors and the market, and will pursue immediate corrective actions," Keyser stated.

Lantern said it is investigating the origin of the fabricated article and any coordinated trading activity surrounding its publication. The company plans to pursue legal remedies and may refer the matter to regulatory authorities.

The company warned investors to be vigilant against potential manipulation attempts through false information and advised relying only on official communications and SEC filings.

Lantern confirmed Sharma will lead the company's earnings webcast on March 30, 2026, at 4:30 p.m. Eastern Time to discuss fourth quarter and fiscal year 2025 results. The company will review results for the period ended December 31, 2025, and provide updates on clinical programs and its RADR artificial intelligence platform.

Lantern Pharma uses its proprietary RADR platform to develop cancer treatments through artificial intelligence and machine learning technology.