LIMN News & Events

Liminatus Pharma announced that the company received a delisting notice from The Nasdaq Stock Market. On May 20, the company received a notice from Nasdaq stating that the company had not regained compliance with the MVLS Rule and the MVPHS Rule. Accordingly, its securities will be delisted from The Nasdaq Global Market. Unless the company requests an appeal of the determination before the Nasdaq Hearings Panel by May 27, trading of the company's common stock and warrants will be suspended at the opening of business on May 29, and a Form 25-NSE will be filed with the SEC, which will remove the company's securities from listing and registration on Nasdaq. The company intends to timely request an appeal before the Panel. The hearing request will result in a stay of any suspension or delisting action pending the hearing.

Liminatus plans to initiate a Phase 1 clinical trial evaluating IBA101, a next-generation CD47-blocking monoclonal antibody designed to engage innate immune pathways and complement established immuno-oncology therapies. IBA101 is designed to work alongside PD-1/PD-L1 checkpoint inhibitors, which remain the backbone of treatment across multiple solid tumor indications. Lung cancer has been selected as the initial focus of the Phase 1 program. The company anticipates engaging with regulatory authorities as part of its clinical development planning and is targeting readiness to advance the program following completion of required manufacturing, nonclinical, and regulatory preparation activities.

Liminatus Pharma announced the pricing of its best-efforts public offering of 13,813,000 shares of its common stock and warrants to purchase up to 20,719,500 shares of common stock, at a combined public offering price of $0.29 per share and accompanying warrants. The warrants will have an exercise price of $0.29 per share, will be exercisable immediately upon issuance and will expire on the fifth anniversary of the original issuance date. The closing of the offering is expected to occur on or about February 18, 2026, subject to the satisfaction of customary closing conditions. Gross proceeds, before deducting placement agent fees and other estimated offering expenses, are expected to be approximately $4M. The potential additional gross proceeds to the Company from the exercise of the warrants, if fully exercised on a cash basis, would be approximately $6.0 million. No assurance can be given that any warrants will be exercised. Maxim Group is acting as sole placement agent in connection with this offering.