Liminatus Pharma Financials
This page shows Liminatus Pharma (LIMNW) 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).
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Liminatus Pharma's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Liminatus Pharma's current ratio of 0.05 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Key Financial Metrics
Earnings & Revenue
Liminatus Pharma earned $-0.43 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 115.0% from the prior year.
Cash & Balance Sheet
Liminatus Pharma held $338K in cash against $0 in long-term debt as of fiscal year 2025.
Liminatus Pharma had 27M shares outstanding in fiscal year 2025. This represents an increase of 54.7% from the prior year.
Margins & Returns
Capital Allocation
Liminatus Pharma invested $13K in capex in fiscal year 2025, funding long-term assets and infrastructure.
LIMNW Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | $357K-50.0% | $714K | N/A |
| SG&A Expenses | N/A | $701K-37.3% | $1.1M | N/A | N/A | $186K-4.6% | $195K | N/A |
| Operating Income | N/A | -$701K+37.3% | -$1.1M-438414.1% | -$255 | N/A | -$543K+40.3% | -$909K-368004.5% | -$247 |
| Interest Expense | N/A | $19K-69.4% | $62K | N/A | N/A | $93K+20.1% | $77K | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | N/A | -$1.8M-1709.5% | $113K+134.6% | -$328K | N/A | -$601K+37.4% | -$961K+45.2% | -$1.8M |
| EPS (Diluted) | N/A | $-0.07 | $0.00+100.0% | $-2.55 | N/A | $-0.03+40.0% | $-0.05+98.0% | $-2.47 |
LIMNW Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $513K-61.8% | $1.3M-29.7% | $1.9M+109.7% | -$19.7M-463.6% | $5.4M | N/A | N/A | N/A |
| Current Assets | $501K-58.4% | $1.2M-32.5% | $1.8M | N/A | $5.3M | N/A | N/A | N/A |
| Cash & Equivalents | $338K-53.4% | $725K-45.9% | $1.3M | $0 | $0 | N/A | N/A | $0 |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $10.3M+245.6% | $3.0M-72.1% | $10.7M+1010861.6% | $1K-100.0% | $24.7M | N/A | N/A | N/A |
| Current Liabilities | $10.3M+259.5% | $2.9M-72.8% | $10.5M | N/A | $24.7M | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$9.8M-496.4% | -$1.6M+81.3% | -$8.8M+55.2% | -$19.7M-1.7% | -$19.3M-1.2% | -$19.1M-3.2% | -$18.5M-5.5% | -$17.5M |
| Retained Earnings | -$38.9M-26.6% | -$30.7M-6.3% | -$28.9M-2724376.9% | -$1K+100.0% | -$28.7M | N/A | N/A | N/A |
LIMNW Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$387K+35.6% | -$601K+93.3% | -$9.0M | $0+100.0% | -$141K+31.8% | -$206K+81.3% | -$1.1M | $0 |
| Capital Expenditures | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | -$387K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | $0+100.0% | -$13K | N/A | N/A | -$550K+31.3% | -$800K | N/A | N/A |
| Financing Cash Flow | $0 | $0 | N/A | N/A | $700K-31.3% | $1.0M | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
LIMNW Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | -135.8%-141.8pp | 5.9%+4.3pp | 1.7% | N/A | N/A | N/A | N/A |
| Current Ratio | 0.05-0.4 | 0.42+0.3 | 0.17 | N/A | 0.21 | N/A | N/A | N/A |
| Debt-to-Equity | -1.05+0.8 | -1.82-0.6 | -1.22-1.2 | -0.00+1.3 | -1.28 | N/A | N/A | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$9.8M), which causes debt-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.
Frequently Asked Questions
What are Liminatus Pharma's total assets?
Liminatus Pharma (LIMNW) had $513K in total assets as of fiscal year 2025, including both current and long-term assets.
What are Liminatus Pharma's capital expenditures?
Liminatus Pharma (LIMNW) invested $13K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Liminatus Pharma's current ratio?
Liminatus Pharma (LIMNW) 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's debt-to-equity ratio?
Liminatus Pharma (LIMNW) had a debt-to-equity ratio of -1.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
Why is Liminatus Pharma's debt-to-equity ratio negative or unusual?
Liminatus Pharma (LIMNW) has negative shareholder equity of -$9.8M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. 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.
How financially healthy is Liminatus Pharma?
Liminatus Pharma (LIMNW) scores 0 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.