L
Liminatus Pharma, Inc.
LIMNCIK 0001971387NasdaqEmerging GrowthBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-10.21M
Total Assets
$512.8K
Equity
$-9.81M
Shares Out
44.88M
Op. Cash Flow
$-9.96M
Business
Liminatus Pharma, Inc. is a publicly listed company in Biological Products, (No Diagnostic Substances), incorporated in Delaware. Common stock trades on Nasdaq under the ticker LIMN.
Auto-generated from company profile
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| General and administrative | 3 | 644,619 | |
| Research and development | — | 3 | |
| Total operating expenses | 3 | 3 | |
| Loss from operations | −3 | −3 | |
| Interest expense, related parties | −215,903 | −338,882 | |
| Interest income | 76,589 | 122,526 | |
| Forgiveness of unrelated vendor payables | 2 | — | |
| Change in fair value of deferred underwriting fee - paid in common stock | −196,000 | — | |
| Change in the fair value of warrant liability | 54,312 | 0 | |
| Loss on exchange of common stock for warrants | −2 | — | |
| Fair value of common stock to be issued for contingent liability | −7 | — | |
| Total other expense, net | −7 | −216,356 | |
| Net loss | −10 | −4 | |
| Weighted average shares outstanding - basic (in shares) | 24 | 18 | |
| Weighted average shares outstanding - diluted (in shares) | 24 | 18 | |
| Basic net loss per share (in dollars per share) | −0.43 | −0.2 | |
| Diluted net loss per share (in dollars per share) | −0.43 | −0.2 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2025 2025-10-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|---|
| Cash | 337,655 | — | 56,319 | — | |
| Loan receivable | — | — | 4 | — | |
| Deferred transaction costs | 0 | — | 1 | — | |
| Prepaid and other current assets | 162,919 | — | 155,501 | — | |
| Total current assets | 500,574 | — | 5 | — | |
| Due from related party, non-current | — | — | 126,275 | — | |
| Property and equipment, net | 12,221 | — | 941 | — | |
| Total non-current assets | 12,221 | — | 127,216 | — | |
| Total assets | 512,795 | — | 5 | — | |
| Accounts payable and accrued expenses | 582,234 | — | 1 | — | |
| Accrued interest, related parties | 203,921 | — | 955,119 | — | |
| Accrued maintenance fee | — | — | 360,000 | — | |
| Short-term debt, related parties | 1 | — | 20 | — | |
| Deferred underwriting fee payable | 500,000 | 500,000 | — | — | |
| Settlement payable | 7 | — | — | — | |
| Total current liabilities | 10 | — | 25 | — | |
| Warrant liability | 29,244 | — | — | — | |
| Total liabilities | 10 | — | 25 | — | |
| Commitments and Contingencies (Note 7) | — | — | — | — | |
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding | — | — | — | — | |
| Common stock, $0.0001 par value; 500,000,000 shares authorized; 27,064,633 and 17,500,000 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 2,706 | — | 1,750 | — | |
| Additional paid-in capital | 29 | — | 9 | — | |
| Accumulated deficit | −39 | — | −29 | — | |
| Total stockholders' deficit | −10 | — | −19 | −16 | |
| Total liabilities and stockholders' deficit | 512,795 | — | 5 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Net loss | −10 | −4 | |
| Forgiveness of related party receivables | 126,275 | — | |
| Depreciation | 1,828 | — | |
| Due from related party, current | −3 | — | |
| Prepaid and other current assets | 324,609 | −133,251 | |
| Accounts payable and accrued expenses | −4 | −10,747 | |
| Accrued interest, related parties | 215,903 | 338,882 | |
| Accrued maintenance fee | — | 360,000 | |
| Due to research and development partner | — | 2 | |
| Due to related party | −62,467 | — | |
| Net cash used in operating activities | −10 | −1 | |
| Loans to Iris Acquisition Corp | −775,000 | −3 | |
| Purchases of property and equipment | −13,108 | — | |
| Net cash used in investing activities | −788,108 | −3 | |
| Gross proceeds from issuance of common stock for PIPE investment | 11 | — | |
| Payment of transaction costs | −3 | — | |
| Proceeds from issuance of short-term debt, related party | 4 | 4 | |
| Repayment of short-term debt, related party | −1 | — | |
| Net cash provided by financing activities | 11 | 4 | |
| Net change in cash | 281,336 | −378,066 | |
| Liabilities assumed in connection with the Business Combination | 11 | — | |
| Fair value of shares to be issued to underwriter on date of the Business Combination | 7 | — | |
| Transaction costs incurred upon closing of the Business Combination | 2 | — | |
| Settlement of loans to Iris Acquisition Corp upon closing of the Business Combination | 4 | — | |
| Issuance of common stock to Iris Acquisition Holdings, LLC | 690 | — | |
| Conversion of related party short-term debt into common stock | 15 | — | |
| Non-cash conversion of short term debt, related parties for PIPE Funds | 3 | — | |
| Non-cash impact to APIC for the forgiveness of accrued interest on converted related party debt | 169,201 | — | |
| Issuance of common stock to underwriter | 7 | — | |
| Deferred transaction costs in accounts payable | — | 561,441 |
Filings
Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro
Material Events
Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro
Insiders
Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro
Institutional Holders
Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro