Liminatus Pharma, Inc. Schedule 13G reports that Mitchell P. Kopin, Daniel B. Asher and Intracoastal Capital LLC (the Reporting Persons) jointly disclose shared beneficial ownership of 2,065,885 shares of Common Stock, representing 4.99% as of 02/20/2026.
The filing states that 1,735,000 shares were to be issued at closing under a Securities Purchase Agreement and that warrants exercisable into up to 2,602,500 shares (the Intracoastal Warrant) include a blocker limiting exercises to keep ownership at or below 4.99%.
Positive
None.
Negative
None.
Insights
Joint filing discloses coordinated beneficial ownership just below a 5% threshold.
The Schedule 13G shows the Reporting Persons jointly hold 2,065,885 shares, equal to 4.99% as of 02/20/2026, and describes issuance of 1,735,000 shares at closing under the SPA. The filing highlights a warrant structure that includes a blocker provision capping exercises.
The key dependency is the blocker in the Intracoastal Warrant that limits exercise above 4.99%; subsequent disclosures or exercises will determine if ownership remains below the reporting threshold.
Transaction and warrant mechanics create potential overhang but are contractually limited by a blocker.
The excerpt lists a warrant exercisable into 2,602,500 shares and states that, as of 02/20/2026, 2,065,885 shares were deemed issuable upon exercise representing 4.99%. It also notes 8,270,000 shares issued at closing were included in the ownership denominator calculation.
How market overhang evolves depends on holder decisions and the blocker provision; timing and cash‑flow treatment are not described in the provided excerpt.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Liminatus Pharma, Inc.
(Name of Issuer)
Common Stock, par value $ 0.0001 per share
(Title of Class of Securities)
53271X108
(CUSIP Number)
02/17/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
53271X108
1
Names of Reporting Persons
Mitchell P. Kopin
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,065,885.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,065,885.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,065,885.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.99 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
CUSIP No.
53271X108
1
Names of Reporting Persons
Daniel B. Asher
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,065,885.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,065,885.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,065,885.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.99 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
CUSIP No.
53271X108
1
Names of Reporting Persons
Intracoastal Capital LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,065,885.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,065,885.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,065,885.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.99 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Liminatus Pharma, Inc.
(b)
Address of issuer's principal executive offices:
12611 Hiddencreek Way, Unit C, Cerritos, CA 90703
Item 2.
(a)
Name of person filing:
This Schedule 13G is being filed on behalf of (i) Mitchell P. Kopin, an individual ("Mr. Kopin"), (ii) Daniel B. Asher, an individual ("Mr. Asher") and (iii) Intracoastal Capital LLC, a Delaware limited liability company ("Intracoastal" and together with Mr. Kopin and Mr. Asher, collectively the "Reporting Persons").
(b)
Address or principal business office or, if none, residence:
The principal business office of Mr. Kopin and Intracoastal is 245 Palm Trail, Delray Beach, Florida 33483. The principal business office of Mr. Asher is 1011 Lake Street, Suite 311, Oak Park, Illinois 60301.
(c)
Citizenship:
Mr. Kopin is a citizen of the United States of America. Mr. Asher is a citizen of the United States of America. Intracoastal is a Delaware limited liability company.
(d)
Title of class of securities:
Common Stock, par value $ 0.0001 per share
(e)
CUSIP No.:
53271X108
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
(i) Immediately following the execution of the Securities Purchase Agreement with the Issuer on February 17, 2026 (the "SPA") (as disclosed in the Form 8-K prospectus filed by the Issuer with the Securities and Exchange Commission on February 18, 2026), each of the Reporting Persons may have been deemed to have beneficial ownership of 1,735,000 shares of Common Stock to be issued to Intracoastal at the closing of the transaction contemplated by the SPA, and all such shares of Common Stock represent beneficial ownership of approximately 5.3% of the Common Stock, based on (1) 31,064,633 shares of Common Stock outstanding as of February 13, 2026, as reported by the Issuer, plus (2) 1,735,000 shares of Common Stock to be issued to Intracoastal at the closing of the transaction contemplated by the SPA. The foregoing excludes 2,602,500 shares of Common Stock issuable upon exercise of a warrant to be issued to Intracoastal at the closing of the transaction contemplated by the SPA (the "Intracoastal Warrant") because the Intracoastal Warrant contains a blocker provision under which the holder thereof does not have the right to exercise the Intracoastal Warrant to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 4.99% of the Common Stock. Without such blocker provision, each of the Reporting Persons may have been deemed to have beneficial ownership of 4,337,500 shares of Common Stock.
(ii) As of the close of business on February 20, 2026, each of the Reporting Persons may have been deemed to have beneficial ownership of 2,065,885 shares of Common Stock issuable upon exercise of the Intracoastal Warrant, and all such shares of Common Stock represent beneficial ownership of approximately 4.99% of the Common Stock, based on (1) 31,064,633 shares of Common Stock outstanding as of February 13, 2026, as reported by the Issuer, plus (2) 8,270,000 shares of Common Stock issued at the closing of the transaction contemplated by the SPA and (3) 2,065,885 shares of Common Stock issuable upon exercise of the Intracoastal Warrant. The foregoing excludes 536,615 shares of Common Stock issuable upon exercise of the Intracoastal Warrant because the Intracoastal Warrant contains a blocker provision under which the holder thereof does not have the right to exercise the Intracoastal Warrant to the extent (but only to the extent) that such exercise would result in beneficial ownership by the holder thereof, together with the holder's affiliates, and any other persons acting as a group together with the holder or any of the holder's affiliates, of more than 4.99% of the Common Stock. Without such blocker provision, each of the Reporting Persons may have been deemed to have beneficial ownership of 2,602,500 shares of Common Stock.
(b)
Percent of class:
4.99 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
2,065,885
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
2,065,885
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What percent of Liminatus Pharma (LIMN) do the Reporting Persons own?
They report shared beneficial ownership of 2,065,885 shares, representing 4.99% as of 02/20/2026. This figure reflects shares issuable upon exercise of the Intracoastal Warrant subject to its blocker provision.
How many shares were to be issued at closing under the Securities Purchase Agreement?
The filing states 1,735,000 shares were to be issued to Intracoastal at closing under the SPA. That issuance was used in the filing’s ownership calculations tied to the 02/17/2026 SPA reference.
What is the Intracoastal Warrant and how many shares can it convert into?
The Intracoastal Warrant is exercisable into up to 2,602,500 shares, but the warrant contains a blocker preventing exercise to the extent it would cause beneficial ownership to exceed 4.99%, per the filing language.
Does the Schedule 13G show sole voting or dispositive power for the filers?
No; the filing lists 0 shares with sole voting or dispositive power and 2,065,885 shares with shared voting and shared dispositive power, as reported in the ownership section dated 02/20/2026.
What share counts were used to calculate the percentage ownership?
The filing bases percentages on 31,064,633 shares outstanding as of February 13, 2026, plus issuance figures including 8,270,000 shares issued at closing and the 2,065,885 shares issuable upon warrant exercise referenced as of 02/20/2026.
