Sec Form 4 Filing - Kreis Leslie W. @ Lantern Pharma Inc. - 2025-05-27

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Kreis Leslie W. 2. Issuer Name and Ticker or Trading Symbol Lantern Pharma Inc. [ LTRN] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O BIOS PARTNERS, 1751 RIVER RUN SUITE 400 3. Date of Earliest Transaction (MM/DD/YY) 05/27/2025 (Street) FORT WORTH, TX76107 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 05/27/2025 S 3,790 D $ 3.05 ( 1 ) 213,763 I By Bios Fund I QP, LP ( 4 ) ( 5 ) ( 6 ) Common Stock 05/28/2025 S 2,702 D $ 2.87 ( 2 ) 211,061 I By Bios Fund I QP, LP ( 4 ) ( 5 ) ( 6 ) Common Stock 05/29/2025 S 3,639 D $ 3.03 ( 3 ) 207,422 I By Bios Fund I QP, LP ( 4 ) ( 5 ) ( 6 ) Common Stock 05/27/2025 S 6,479 D $ 3.05 ( 1 ) 365,471 I By Bios Fund I, LP ( 4 ) ( 5 ) ( 6 ) Common Stock 05/28/2025 S 4,620 D $ 2.87 ( 2 ) 360,851 I By Bios Fund I, LP ( 4 ) ( 5 ) ( 6 ) Common Stock 05/29/2025 S 6,221 D $ 3.03 ( 3 ) 354,630 I By Bios Fund I, LP ( 4 ) ( 5 ) ( 6 ) Common Stock 05/27/2025 S 1,000 D $ 3.05 ( 1 ) 56,467 I By Bios Fund II NT, LP ( 4 ) ( 5 ) ( 6 ) Common Stock 05/28/2025 S 714 D $ 2.87 ( 2 ) 55,753 I By Bios Fund II NT, LP ( 4 ) ( 5 ) ( 6 ) Common Stock 05/29/2025 S 961 D $ 3.03 ( 3 ) 54,792 I By Bios Fund II NT, LP ( 4 ) ( 5 ) ( 6 ) Common Stock 05/27/2025 S 7,478 D $ 3.05 ( 1 ) 421,808 I By Bios Fund II QP, LP ( 4 ) ( 5 ) ( 6 ) Common Stock 05/28/2025 S 5,332 D $ 2.87 ( 2 ) 416,476 I By Bios Fund II QP, LP ( 4 ) ( 5 ) ( 6 ) Common Stock 05/29/2025 S 7,180 D $ 3.03 ( 3 ) 409,296 I By Bios Fund II QP, LP ( 4 ) ( 5 ) ( 6 ) Common Stock 05/27/2025 S 2,290 D $ 3.05 ( 1 ) 129,163 I By Bios Fund II, LP ( 4 ) ( 5 ) ( 6 ) Common Stock 05/28/2025 S 1,632 D $ 2.87 ( 2 ) 127,531 I By Bios Fund II, LP ( 4 ) ( 5 ) ( 6 ) Common Stock 05/29/2025 S 2,199 D $ 3.03 ( 3 ) 125,332 I By Bios Fund II, LP ( 4 ) ( 5 ) ( 6 ) Common Stock 26,093 I By BP Directors, LP ( 4 ) ( 5 ) ( 6 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Kreis Leslie W. C/O BIOS PARTNERS 1751 RIVER RUN SUITE 400 FORT WORTH, TX76107 X Cavu Management, LP C/O BIOS PARTNERS 1751 RIVER RUN SUITE 400 FORT WORTH, TX76107 X Cavu Advisors, LLC C/O BIOS PARTNERS 1751 RIVER RUN SUITE 400 FORT WORTH, TX76107 X BP Directors, LP C/O BIOS PARTNERS 1751 RIVER RUN SUITE 400 FORT WORTH, TX76107 X Signatures Leslie W. Kreis, Jr By: /s/ John Fucci, as attorney-in-fact 05/29/2025 Signature of Reporting Person Date Cavu Management, LP By: Cavu Advisors, LLC, its general partner By: /s/ John Fucci, as attorney-in-fact 05/29/2025 Signature of Reporting Person Date Cavu Advisors, LLC By: /s/ John Fucci, as attorney-in-fact 05/29/2025 Signature of Reporting Person Date BP Directors, LP By: Bios Equity Partners, LP, its general partner By: Cavu Management, LP By: Cavu Advisors, LLC, its general partner By: /s/ John Fucci, as attorney-in-fact 05/29/2025 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The price reported in Column 4 is a weighted average price. On May 27, 2025 each of Bios Fund I QP, LP ("Bios Fund I QP"), Bios Fund I, LP ("Bios Fund I"), Bios Fund II NT, LP ("Bios Fund II NT"), Bios Fund II QP, LP ("Bios Fund II QP") and Bios Fund II, LP ("Bios Fund II") sold shares in multiple transactions at prices ranging from $2.87 to $3.21, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Isser, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1) and (2) to this Form 4. ( 2 )The price reported in Column 4 is a weighted average price. On May 28, 2025, each of Bios Fund I QP, Bios Fund I, Bios Fund II NT, Bios Fund II QP and Bios Fund II sold shares in multiple transactions at prices ranging from $2.85 to $2.94 inclusive. ( 3 )The price reported in Column 4 is a weighted average price. On May 29, 2025, each of Bios Fund I QP, Bios Fund I, Bios Fund II NT, Bios Fund II QP and Bios Fund II sold shares in multiple transactions at prices ranging from $3.00 to $3.13 inclusive. ( 4 )Bios Equity Partners, LP ("Bios Equity I") is the general partner of the following entities: Bios Fund I, Bios Fund I QP and BP Directors, LP ("Bios Directors"). Bios Equity Partners II, LP ("Bios Equity II") is the general partner of the following entities: Bios Fund II, Bios Fund II QP and Bios Fund II NT. Cavu Management, LP ("Cavu Management"), an entity managed and controlled by Leslie W. Kreis, Jr and Bios Capital Management, LP ("Bios Management"), an entity managed and controlled by Aaron Glenn Louis Fletcher, are each a general partner of Bios Equity I and Bios Equity II. Cavu Advisors LLC ("Cavu Advisors"), an entity that is managed and controlled by Mr. Kreis, is the general partner of Cavu Management. Bios Advisors GP, LLC ("Bios Advisors"), an entity that is managed and controlled by Mr. Fletcher, is the general partner of Bios Management. ( 5 )Mr. Kreis, Cavu Management, Cavu Advisors, Mr. Fletcher, Bios Management and Bios Advisors each share voting and investment control with respect to the shares held by Bios Fund I, Bios Fund I QP, Bios Directors, Bios Fund II, Bios Fund II QP and Bios Fund II NT (collectively, the "Bios Equity Entities"). Because of the relationship between Mr. Kreis, Mr. Fletcher, Cavu Management, Bios Management, Cavu Advisors, Bios Advisors and the Bios Equity Entities, Mr. Kreis, Mr. Fletcher, Cavu Management, Bios Management, Cavu Advisors and Bios Advisors each may be deemed to beneficially own the shares held directly by the Bios Equity Entities. ( 6 )For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each Reporting Person disclaims beneficial ownership of any such securities, except to the extent of his/its pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or otherwise.

Remarks: Exhibit 24 - Power of Attorney. This Form 4 is the second of two Forms 4 filed relating to the same event. The Form 4 has been split into two filings because there are more than 10 reporting persons in total, and the SEC's EDGAR filing system limits a single Form 4 to a maximum of 10 reporting person. The first Form 4 was filed by Aaron Glenn Louis Fletcher as the designated filer.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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