Liminatus Pharma Warrants (LIMNW) Financials
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 LIMNW SEC filings page.
This page shows Liminatus Pharma, Inc. Warrants (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).
Obligations dominate the balance sheet, while shrinking assets leave little short-term cushion and operating performance cannot be assessed.
Assets fell90.5% from FY2024 to FY2025, versus a58.3% decline in liabilities, so the balance sheet contracted faster than its obligations. Liabilities already equaled457.6% of assets in FY2024, and FY2025 still reported negative equity of-$9.8M , showing that the contraction did not repair the capital structure.
Current assets fell
FY2024 operating cash flow was
Financial Health Signals
We do not publish a peer-relative financial health score for Liminatus Pharma, Inc. Warrants, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The metrics below are current.
Key Financial Metrics
Earnings & Revenue
Liminatus Pharma, Inc. Warrants'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. Warrants 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. Warrants 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. Warrants 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. Warrants'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. Warrants 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.
LIMNW 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 | -$230K | -$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.
LIMNW 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.
LIMNW 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.
LIMNW 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.
Where Liminatus Pharma, Inc. Warrants Ranks
Frequently Asked Questions
Liminatus Pharma, Inc. Warrants (LIMNW) had $513K in total assets as of fiscal year 2025, including both current and long-term assets.
Liminatus Pharma, Inc. Warrants (LIMNW) invested $13K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Liminatus Pharma, Inc. Warrants (LIMNW) had a current ratio of 0.05 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
Liminatus Pharma, Inc. Warrants (LIMNW) 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.