Every 10-Q that Liminatus Pharma, Inc. (LIMN) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow LIMN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LIMN filings page.
Liminatus Pharma, Inc. is a pre-clinical biopharmaceutical company focused on CD47 immune‑modulating cancer therapies. For the six months ended June 30, 2026, it reported a net loss of $2,530,973 and a loss from operations of $2,479,806. Cash increased to $3,017,096 from $337,655 at year-end, driven mainly by equity financings, including a February 2026 public offering that generated net proceeds of $3,444,427 and a June 2026 warrant inducement that added $1,622,967. Total assets were $3,403,702, versus current liabilities of $3,040,423, and accumulated deficit reached $41,402,706, leaving stockholders’ equity at only $300,612.
The company disclosed substantial doubt about its ability to continue as a going concern and plans to seek additional equity or debt financing. All $1,442,500 of short‑term debt is owed to related parties and is past original maturity, though repayment has been mutually deferred. Liminatus received multiple Nasdaq deficiency notices related to market value, public float, and minimum bid price; it was transferred to The Nasdaq Capital Market and must regain a $1.00 bid price within a Panel‑granted extension to remain listed. Post‑quarter, it completed the InnocsAI asset acquisition, issuing common and Series A Non‑Voting Convertible Preferred Stock as part of a 1,600,000,000‑share consideration structure that could significantly increase common shares outstanding if stockholder approval is obtained.
Liminatus Pharma, Inc. reports results for the three months ended March 31, 2026, showing a net loss of $1,123,714 on operating expenses of $1,100,898. Cash increased to $1,907,674, helped by a February 2026 equity offering that generated about $3.44M in net proceeds.
Stockholders’ deficit narrowed sharply to $132,596 from $9,814,690, largely due to equity issuances and a prior warrant settlement. However, management concludes there is substantial doubt about the company’s ability to continue as a going concern, given an accumulated deficit of $39,995,447, ongoing losses and $1,442,500 of short-term related-party debt.
The company also discloses Nasdaq notices for failing minimum market value and bid-price requirements, with compliance deadlines in May 2026 and July 2026. Liminatus remains a pre-clinical oncology company advancing its CD47 antibody candidate IBA101 and has begun funding Phase 1 preparation work through a $1,000,000 payment to its development partner.
Liminatus Pharma (LIMN) filed its Q3 2025 10‑Q, reflecting a pre‑clinical oncology company still in transition after its April 2025 business combination. Cash was $724,502 at September 30, 2025, with a net loss of $1,823,351 for the quarter and $2,037,590 for the nine months. Operating expenses were driven by general and administrative costs; research and development expense was not recorded in the periods presented.
The company reports substantial doubt about its ability to continue as a going concern and plans to seek additional equity or debt financing. Short‑term related‑party debt was $1,442,500 at quarter‑end, down from $19,973,000 at December 31, 2024, following conversions tied to the business combination and PIPE.
In Q2, Liminatus recognized a $2,142,297 gain from a settlement with its former R&D partner, and issued 700,000 shares to underwriters to settle deferred fees. A warrant liability of $123,579 was recorded. As of November 13, 2025, 27,064,633 shares were outstanding.
Liminatus Pharma, Inc. completed a business combination that recapitalized Iris into the combined company, resulting in 26,014,633 shares outstanding at June 30, 2025 compared with 17,500,000 at year-end 2024. The transaction included a $15.0M PIPE, of which $10.56M was cash proceeds and $4.44M converted from related‑party debt into equity. Numerous short‑term related‑party and third‑party loans totaling millions were converted into common stock at closing.
The company treated the deal as a reverse acquisition for accounting under ASC 805, with Iris assets stated at fair value and no goodwill recorded. As of June 30, 2025 management disclosed substantial doubt about the company’s ability to continue as a going concern within one year. Other notable items include deferred underwriting liability of approximately $7.8M for unissued shares, classification of warrants with 6,900,000 public warrants as equity and 835,555 private warrants as liabilities, a $5.0M R&D advance, and $75,000 CEO compensation expense recorded in each six‑month period.