Liminatus Pharma, Inc. LIMN

Healthcare SIC 2836 - Biological Products, (No Diagnostic Substances) Nasdaq

Unless otherwise stated or unless the context otherwise requires, the terms "we," "us," "our," the "Registrant," the "Company" and "Liminatus" refer to refer to the business and operations of Liminatus Pharma, LLC, a Delaware limited liability company, prior to the consummation of the Business Combination (as defined below) and to Liminatus Pharma, Inc. and its consolidated subsidiaries (including Liminatus Pharma, LLC) following the consummation of the Business Combination. Furthermore, unless otherwise stated or unless the context otherwise requires, references to "Iris" refer to Iris Acquisition Corp, a Delaware corporation.

Liminatus is a pre-clinical stage, single-asset biopharmaceutical company. Liminatus is developing novel cancer therapies that exploit the body's immune system. The Company's clinical candidate is a humanized anti CD47 monoclonal antibody. The next generation CD47 checkpoint inhibitor's (code name: IBA101) initial indication is expected to be patients with advanced solid cancers including non-small cell lung cancer ("NSCLC").

Last close 3.71 2026-09-04
Market cap $249.2M 2026-06-30 share count
52-week range 3.42 - 141.50

Valuation FY2025 figures against the last close

P/S
P/E
P/FCF
EV/EBITDA
Dividend yield
Diluted EPS-0.43

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023
R&D $2.7M
SG&A $3.0M$644.6K
Total operating expenses $3.0M$3.3M
Operating income -$3.0M-$3.3M
Interest expense $215.9K$338.9K
Net income -$10.2M-$3.5M
EPS, basic -0.43-0.20
EPS, diluted -0.43-0.20
Shares, diluted (wtd. avg.) $23.8M$17.5M

Balance sheet

Fiscal year FY2025FY2024FY2023
Total current assets $500.6K$5.3M
Property, plant and equipment $12.2K$941
Total assets $512.8K$5.4M
Accounts payable $582.2K$1.5M
Short-term debt $1.4M$20.0M
Total current liabilities $10.3M$24.7M
Total liabilities $10.3M$24.7M
Retained earnings -$38.9M-$28.7M
Total equity -$9.8M-$19.3M-$15.8M

Cash flow

Fiscal year FY2025FY2024FY2023
Operating cash flow -$10.0M-$1.5M
Depreciation and amortisation $1.8K
Capital expenditure $13.1K
Investing cash flow -$788.1K-$2.9M
Financing cash flow $11.0M$3.9M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-076958.

Others in SIC 2836

TickerCompanyMarket capP/ERevenue growth
AMGN AMGEN INC $236.38B 30.7x 10.0%
GILD GILEAD SCIENCES, INC. $187.23B 22.3x 2.4%
MRNA Moderna, Inc. $58.11B -39.9%
RVMD Revolution Medicines, Inc. $45.01B
BIIB BIOGEN INC. $32.60B 25.1x 2.2%
SCNI Scinai Immunotherapeutics Ltd. $25.80B 99.2%
NBIX NEUROCRINE BIOSCIENCES INC $15.82B 33.3x 21.4%
EXEL EXELIXIS, INC. $14.62B 21.2x 7.0%