Liminatus Pharma (LIMN) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 29, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LIMN SEC filings page.
This page shows Liminatus Pharma, Inc. (LIMN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The reported balance sheet shrank sharply, but obligations stayed larger than assets and short-term coverage deteriorated further.
Between FY2024 and FY2025, total assets fell90.5% while total liabilities fell58.3% . That divergence left liabilities at2014.0% of assets in FY2025, while short-term coverage was weaker than in FY2024, showing that contraction did not restore balance-sheet support.
FY2025 ended with total assets of
In FY2024, the company reported a net loss of
Financial Health Signals
Liminatus Pharma, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The metrics below are current.
Key Financial Metrics
Earnings & Revenue
Liminatus Pharma, Inc.'s EBITDA was -$1.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Liminatus Pharma, Inc. reported a net loss of $1.4M in Q2 2026. This represents a decrease of 1342.2% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Liminatus Pharma, Inc. earned -$0.03 per diluted share (EPS) in Q2 2026. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q2 2026.
Cash & Balance Sheet
Liminatus Pharma, Inc. held $3.0M in cash as of Q2 2026; no long-term debt figure is on record for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Liminatus Pharma, Inc.'s quarterly ROE was -468.1% in Q2 2026: one quarter's net income over shareholder equity, not annualized.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Liminatus Pharma, Inc. invested $600K in research and development in Q2 2026. Against the prior quarter it is up 50.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
LIMN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'24S-1 | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $600K | $400K | N/A | N/A | N/A | N/A | N/A | $357K |
| SG&A Expenses | $779K-30.3% | $701K+165.3% | N/A | $701K+276.8% | $1.1M+473.2% | $264K | N/A | $186K |
| Operating Income | -$1.4Mn/m | -$1.1Mn/m | N/A | -$701Kn/m | -$1.1Mn/m | -$264Kn/m | N/A | -$543K |
| EBITDA | -$1.4M | -$1.1M | N/A | -$701K | N/A | N/A | N/A | N/A |
| Interest Expense | $19K-69.7% | $19K-83.9% | N/A | $19K-79.4% | $62K-19.3% | $116K | N/A | $93K |
| Net Income | -$1.4M-1342.2% | -$1.1Mn/m | N/A | -$1.8Mn/m | $113Kn/m | -$328Kn/m | N/A | -$601K |
| EPS (Basic) | -$0.03 | -$0.03 | -$0.34 | -$0.07n/m | $0.00n/m | -$0.02 | -$0.01 | -$0.03 |
| EPS (Diluted) | -$0.03 | -$0.03 | -$0.34 | -$0.07n/m | $0.00n/m | -$0.02 | -$0.01 | -$0.03 |
| Diluted Shares (Avg) | 48M | 36M | N/A | 27M+54.3% | 23M+33.1% | 18M | N/A | 18M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Income Tax.
LIMN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'24S-1 | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.4M+78.3% | $2.8Mn/m | $513K-90.5% | $1.3M | $1.9M | -$19.7M | $5.4M | N/A |
| Current Assets | $3.4M+90.3% | $2.8M | $501K-90.5% | $1.2M | $1.8M | N/A | $5.3M | N/A |
| Cash & Equivalents | $3.0M+125.5% | $1.9Mn/m | $338Kn/m | $725K | $1.3M | $0n/m | $0 | N/A |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0 | $0 | $0n/m | $0 | N/A |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0 | $0 | $0n/m | $0 | N/A |
| Total Liabilities | $3.1M-71.0% | $2.9M+275640.1% | $10.3M-58.3% | $3.0M | $10.7M | $1K | $24.7M | N/A |
| Current Liabilities | $3.0M-71.1% | $2.9M | $10.3M-58.4% | $2.9M | $10.5M | N/A | $24.7M | N/A |
| Non-Current Liabilities | $63K-68.7% | $33K | $29Kn/m | $124K | $200K | N/A | $0 | N/A |
| Total Equity | $301Kn/m | -$133Kn/m | -$9.8Mn/m | -$1.6Mn/m | -$8.8Mn/m | -$19.7Mn/m | -$19.3M | -$19.1M |
| Retained Earnings | -$41.4Mn/m | -$40.0Mn/m | -$38.9Mn/m | -$30.7M | -$28.9M | -$1K | -$28.7M | N/A |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
LIMN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'24S-1 | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$970Kn/m | -$2.0Mn/m | -$387Kn/m | -$601Kn/m | -$8.8Mn/m | -$159Kn/m | -$141K | -$206K |
| Depreciation & Amortization | $468 | $518 | $543 | $542 | N/A | N/A | N/A | N/A |
| Capital Expenditures | N/A | N/A | $0 | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | -$387K | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | $0n/m | -$13Kn/m | -$200K | -$575K | -$550K | -$800K |
| Financing Cash Flow | $2.1M | $3.6M+402.8% | $0-100.0% | $0-100.0% | N/A | $713K | $700K | $1.0M |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.
LIMN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Debt-to-Equity, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$9.8M), which causes the debt-to-equity, liabilities-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.05), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Liminatus Pharma, Inc. LIMN | FY2025 | N/A | N/A | N/A | $3.9M | — |
| Precision BioSciences, Inc. DTIL | FY2025 | $34.3M | -$45.7M | N/A | $205.4M | 45/100 |
| Cue Biopharma, Inc. CUE | FY2025 | $27.5M | -$26.6M | -96.9% | $155.8M | 64/100 |
| Karyopharm Therapeutics Inc. KPTI | FY2025 | $146.1M | -$196.0M | N/A | $20.0M | 55/100 |
| MAIA Biotechnology, Inc. MAIA | FY2025 | N/A | -$22.4M | N/A | $72.9M | — |
Where Liminatus Pharma, Inc. Ranks
Frequently Asked Questions
What are Liminatus Pharma, Inc.'s total assets?
Liminatus Pharma, Inc. (LIMN) had $513K in total assets as of fiscal year 2025, including both current and long-term assets.
What are Liminatus Pharma, Inc.'s capital expenditures?
Liminatus Pharma, Inc. (LIMN) invested $13K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Liminatus Pharma, Inc.'s current ratio?
Liminatus Pharma, Inc. (LIMN) had a current ratio of 0.05 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Liminatus Pharma, Inc.'s P/E ratio?
Liminatus Pharma, Inc. (LIMN) has no price-to-earnings ratio at the moment: no net income reported. The market capitalization is $3.9M as of Oct 29, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Liminatus Pharma, Inc.'s price-to-sales ratio?
Liminatus Pharma, Inc. (LIMN) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $3.9M as of Oct 29, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Liminatus Pharma, Inc.'s debt-to-equity ratio negative or not reported?
Liminatus Pharma, Inc. (LIMN) has negative shareholder equity of -$9.8M as of fiscal year 2025, so no debt-to-equity or liabilities-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.