Overview
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| General and administrative | $3.0M | $644.6K |
| Research and development | $2.7M | |
| Total operating expenses | $3.0M | $3.3M |
| Loss from operations | -$3.0M | -$3.3M |
| Interest expense, related parties | -$215.9K | -$338.9K |
| Interest income | $76.6K | $122.5K |
| Forgiveness of unrelated vendor payables | $2.1M | |
| Change in fair value of deferred underwriting fee - paid in common stock | -$196.0K | |
| Change in the fair value of warrant liability | $54.3K | $0 |
| Loss on exchange of common stock for warrants | -$1.7M | |
| Fair value of common stock to be issued for contingent liability | -$7.4M | |
| Total other expense, net | -$7.2M | -$216.4K |
| Net loss | -$10.2M | -$3.5M |
| Weighted average shares outstanding - basic (in shares) | 23.8M shares | 17.5M shares |
| Weighted average shares outstanding - diluted (in shares) | 23.8M shares | 17.5M shares |
| Basic net loss per share (in dollars per share) | -$0.43 | -$0.20 |
| Diluted net loss per share (in dollars per share) | -$0.43 | -$0.20 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2025-10-31 | 2025-04-30 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|---|
| Cash | $337.7K | $56.3K | |||
| Loan receivable | $3.7M | ||||
| Deferred transaction costs | $0 | $1.4M | |||
| Prepaid and other current assets | $162.9K | $155.5K | |||
| Total current assets | $500.6K | $5.3M | |||
| Due from related party, non-current | $126.3K | ||||
| Property and equipment, net | $12.2K | $941 | |||
| Total non-current assets | $12.2K | $127.2K | |||
| Total assets | $512.8K | $5.4M | |||
| Accounts payable and accrued expenses | $582.2K | $1.5M | |||
| Accrued interest, related parties | $203.9K | $955.1K | |||
| Accrued maintenance fee | $360.0K | ||||
| Short-term debt, related parties | $1.4M | $20.0M | |||
| Deferred underwriting fee payable | $500.0K | $500.0K | |||
| Settlement payable | $7.4M | ||||
| Total current liabilities | $10.3M | $24.7M | |||
| Warrant liability | $29.2K | ||||
| Total liabilities | $10.3M | $24.7M | |||
| Common stock, $0.0001 par value; 500,000,000 shares authorized; 27,064,633 and 17,500,000 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $2.7K | $1.8K | |||
| Additional paid-in capital | $29.1M | $9.3M | |||
| Accumulated deficit | -$38.9M | -$28.7M | |||
| Total stockholders' deficit | -$9.8M | -$19.3M | -$15.8M | ||
| Total liabilities and stockholders' deficit | $512.8K | $5.4M | |||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ||
| Preferred stock, shares authorized | 1.0M shares | 1.0M shares | 1.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | |||
| Preferred stock, shares outstanding | 0 shares | 0 shares | |||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ||
| Common stock, shares authorized | 500.0M shares | 500.0M shares | 500.0M shares | ||
| Common stock, shares issued | 27.1M shares | 17.5M shares | |||
| Common stock, shares outstanding | 27.1M shares | 17.5M shares |
| Period ending | 2025-12-31 | 2025-10-31 | 2025-04-30 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|---|
| Cash | $337.7K | $56.3K | |||
| Loan receivable | $3.7M | ||||
| Deferred transaction costs | $0 | $1.4M | |||
| Prepaid and other current assets | $162.9K | $155.5K | |||
| Total current assets | $500.6K | $5.3M | |||
| Due from related party, non-current | $126.3K | ||||
| Property and equipment, net | $12.2K | $941 | |||
| Total non-current assets | $12.2K | $127.2K | |||
| Total assets | $512.8K | $5.4M | |||
| Accounts payable and accrued expenses | $582.2K | $1.5M | |||
| Accrued interest, related parties | $203.9K | $955.1K | |||
| Accrued maintenance fee | $360.0K | ||||
| Short-term debt, related parties | $1.4M | $20.0M | |||
| Deferred underwriting fee payable | $500.0K | $500.0K | |||
| Settlement payable | $7.4M | ||||
| Total current liabilities | $10.3M | $24.7M | |||
| Warrant liability | $29.2K | ||||
| Total liabilities | $10.3M | $24.7M | |||
| Common stock, $0.0001 par value; 500,000,000 shares authorized; 27,064,633 and 17,500,000 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $2.7K | $1.8K | |||
| Additional paid-in capital | $29.1M | $9.3M | |||
| Accumulated deficit | -$38.9M | -$28.7M | |||
| Total stockholders' deficit | -$9.8M | -$19.3M | -$15.8M | ||
| Total liabilities and stockholders' deficit | $512.8K | $5.4M | |||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ||
| Preferred stock, shares authorized | 1.0M shares | 1.0M shares | 1.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | |||
| Preferred stock, shares outstanding | 0 shares | 0 shares | |||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ||
| Common stock, shares authorized | 500.0M shares | 500.0M shares | 500.0M shares | ||
| Common stock, shares issued | 27.1M shares | 17.5M shares | |||
| Common stock, shares outstanding | 27.1M shares | 17.5M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$10.2M | -$3.5M |
| Forgiveness of unrelated vendor payables | -$2.1M | |
| Forgiveness of related party receivables | $126.3K | |
| Depreciation | $1.8K | |
| Change in fair value of deferred underwriting fee - paid in common stock | $196.0K | |
| Change in the fair value of warrant liability | $54.3K | $0 |
| Loss on issuance of common stock in connection with the surrendar of warrants | $1.7M | |
| Fair value of common stock to be issued for contingent liability | $7.4M | |
| Due from related party, current | -$3.4M | |
| Prepaid and other current assets | $324.6K | -$133.3K |
| Accounts payable and accrued expenses | -$4.0M | -$10.7K |
| Accrued interest, related parties | $215.9K | $338.9K |
| Accrued maintenance fee | $360.0K | |
| Due to research and development partner | $1.5M | |
| Due to related party | -$62.5K | |
| Net cash used in operating activities | -$10.0M | -$1.5M |
| Loans to Iris Acquisition Corp | -$775.0K | -$2.9M |
| Purchases of property and equipment | -$13.1K | |
| Net cash used in investing activities | -$788.1K | -$2.9M |
| Gross proceeds from issuance of common stock for PIPE investment | $10.6M | |
| Payment of transaction costs | -$2.6M | |
| Proceeds from issuance of short-term debt, related party | $4.3M | $3.9M |
| Repayment of short-term debt, related party | -$1.3M | |
| Net cash provided by financing activities | $11.0M | $3.9M |
| Net change in cash | $281.3K | -$378.1K |
| Liabilities assumed in connection with the Business Combination | $10.7M | |
| Fair value of shares to be issued to underwriter on date of the Business Combination | $7.0M | |
| Transaction costs incurred upon closing of the Business Combination | $1.5M | |
| Settlement of loans to Iris Acquisition Corp upon closing of the Business Combination | $4.4M | |
| Issuance of common stock to Iris Acquisition Holdings, LLC | $690 | |
| Conversion of related party short-term debt into common stock | $14.8M | |
| Non-cash conversion of short term debt, related parties for PIPE Funds | $3.4M | |
| Non-cash impact to APIC for the forgiveness of accrued interest on converted related party debt | $169.2K | |
| Issuance of common stock to underwriter | $7.2M | |
| Deferred transaction costs in accounts payable | $561.4K |
No quarter-by-quarter statement was filed.
Corporate structure
Liminatus Pharma, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Liminatus Pharma, Inc.
- Samda Biolab Co., Ltd. Filed SCHEDULE 13G on Liminatus Pharma, Inc., latest Jul 22, 2026
- Valetudo Therapeutics LLC Filed SCHEDULE 13D/A on Liminatus Pharma, Inc., latest Jul 14, 2026 (2 filings since May 7, 2025)
- Ewon Comfortech Co., Ltd. Filed SCHEDULE 13G/A on Liminatus Pharma, Inc., latest Jul 6, 2026 (2 filings since Jun 26, 2025)
- INTRACOASTAL CAPITAL, LLC Filed SCHEDULE 13G on Liminatus Pharma, Inc., latest Feb 20, 2026
- KH Feelux Co., Ltd Filed SCHEDULE 13G on Liminatus Pharma, Inc., latest Jun 27, 2025
- Apple Association 1st Nongae Filed SCHEDULE 13G on Liminatus Pharma, Inc., latest Jun 26, 2025
- Peony Association 1st Red Filed SCHEDULE 13G on Liminatus Pharma, Inc., latest Jun 26, 2025
- Iris Acquisition Holdings LLC Filed SCHEDULE 13D on Liminatus Pharma, Inc., latest May 8, 2025
- Liminatus Pharma, Inc. Cerritos, California
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Liminatus Pharma, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, net | $12.2K3 Dec 31, 2025 | $9413 Dec 31, 2024 | +1198.7% |
Properties, in its own words
On July 17, 2025, the Company entered into a sublease in Cerritos, CA for office space of approximately 1,320 sq. ft. commencing September 1, 2025 and ending June 30, 2026. The monthly rent is $2,784 per month.
We believe the property has been adequately maintained, is generally in good condition, and is suitable and adequate for our business.
Item 2 of the 10-K filed Mar 31, 2026.6
Leadership
Who has led Liminatus Pharma, Inc., and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Board members and other officers (8)
- Chief Technology OfficerBeom Kyu Choi Apr 30, 2025 to now8
- Chief Science OfficerByong Chul Yoo Apr 30, 2025 to now9
- Head of Research & DevelopmentSang-Jin Lee Apr 30, 2025 to now10
- Board memberJi Yeon Baek Apr 30, 2025 to now11
- Board memberNicholas Fernandez Apr 30, 2025 to now12
- Board memberEun Sook Lee May 1, 2025 to now13
- Board memberRichard Jaihwan Baek Jul 21, 2025 to now14
- Board memberPhilip Wayne Lemons Ii. Jul 23, 2025 to now15
Named in SEC Form D filings
People the company listed in its private-offering notices.
- Executive Officer, DirectorChris Kim named Jun 18, 202616
Former names
- Iris Parent Holding Corp.May 2, 2023 to Feb 7, 20252
Timeline
- Sep 29, 20268-K Listing notice or transfer; Regulation FD disclosure17
- Aug 18, 20268-K Listing notice or transfer; Change to shareholders' rights; Bylaws or fiscal year changed18
- Aug 4, 20268-K Shareholder vote19
- Jul 30, 20268-K Other events20
- Jul 24, 20268-K Listing notice or transfer; Other events21
- Jul 6, 20268-K Entered a material agreement; Completed an acquisition or sale; Unregistered sale of shares22
- Jun 3, 20268-K Entered a material agreement; Unregistered sale of shares; Change to shareholders' rights23
- May 27, 20268-K Listing notice or transfer24
- May 20, 20268-K Entered a material agreement25
- Mar 4, 20268-K Bylaws or fiscal year changed26
- Feb 18, 20268-K Entered a material agreement; Other events27
- Feb 9, 20268-K Entered a material agreement; Unregistered sale of shares28
Calendar
Coming up
- Nov 12, 2026Reports results for the quarter ending Sep/202629
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
108 filings to the SEC since October 2021: 1 annual reports, 5 quarterly reports, 25 major events, 16 insider forms, 10 large holders, 1 private raises, 50 other. The latest 20:
- Sep 29, 20268-K EDGAR
- Aug 18, 20268-K EDGAR
- Aug 14, 202610-Q EDGAR
- Aug 4, 20268-K EDGAR
- Jul 30, 20268-K EDGAR
- Jul 24, 20268-K EDGAR
- Jul 22, 2026SCHEDULE 13G EDGAR
- Jul 14, 20264 OWNERSHIP DOCUMENT EDGAR
- Jul 14, 2026SCHEDULE 13D/A EDGAR
- Jul 13, 2026DEF 14A EDGAR
- Jul 6, 20264 OWNERSHIP DOCUMENT EDGAR
- Jul 6, 20263 OWNERSHIP DOCUMENT EDGAR
- Jul 6, 2026SCHEDULE 13G/A EDGAR
- Jul 6, 20268-K EDGAR
- Jun 30, 2026PRE 14A EDGAR
- Jun 24, 2026S-1 EDGAR
- Jun 18, 2026D EDGAR
- Jun 3, 20268-K EDGAR
- Jun 3, 2026424B3 EDGAR
- May 27, 20268-K EDGAR
The 108 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Samda Biolab Co., Ltd.SCHEDULE 13G, 1 filing Jul 22, 202630
- Valetudo Therapeutics LLCSCHEDULE 13D/A, 2 filings May 7, 2025 to Jul 14, 202631
- Ewon Comfortech Co., Ltd.SCHEDULE 13G/A, 2 filings Jun 26, 2025 to Jul 6, 202632
- INTRACOASTAL CAPITAL, LLCSCHEDULE 13G, 1 filing Feb 20, 202633
- KH Feelux Co., LtdSCHEDULE 13G, 1 filing Jun 27, 202534
- Apple Association 1st NongaeSCHEDULE 13G, 1 filing Jun 26, 202535
- Peony Association 1st RedSCHEDULE 13G, 1 filing Jun 26, 202536
- Iris Acquisition Holdings LLCSCHEDULE 13D, 1 filing May 8, 202537
Money raised
Private offerings the company reported to the SEC on Form D.
- Jun 3, 2026Raised $1.9 million in a private offering of securities Form D: 1 investor so far Form D
SEC filer profile
How Liminatus Pharma, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARLiminatus Pharma, Inc.1
- CIK0001971387
- Employer ID (EIN)93-27107486
- Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company6
- Incorporated inDelaware6
- Fiscal year endsDecember 311
- Industry code (SIC)2836 Biological Products, (No Diagnostic Substances)1
- SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
- Business address12611 Hiddencreek Way, Unit C, Cerritos, CA 907031
- Phone213-273-54531
- Shares outstanding67,160,362 as of Aug 14, 20265
- Public float$221.0M as of Jun 30, 20256
- AuditorWithumSmith+Brown, PC, Whippany, New Jersey PCAOB ID 100; no auditor attestation of internal control over financial reporting6
- On EDGAR sinceMay 2, 20231
- Filings108 in all: 8-K (23), 3 (14), CORRESP (13), UPLOAD (9), SCHEDULE 13G (6), 10-Q (5), S-4/A (5), 424B3 (4)1
All 26 form types
EFFECT (4), POS AM (3), S-1 (3), 4 (2), DRS (2), NT 10-Q (2), SCHEDULE 13D (2), 10-K (1), 424B4 (1), 8-K/A (1), 8-K12B (1), D (1), DEF 14A (1), PRE 14A (1), S-1/A (1), S-4 (1), SCHEDULE 13D/A (1), SCHEDULE 13G/A (1)
- Latest filingsAnnual report (10-K) Mar 31, 2026
Quarterly report (10-Q) Aug 14, 2026
Proxy statement (DEF 14A) Jul 13, 2026
Latest 8-K (8-K) Sep 29, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock | LIMN | The Nasdaq Stock Market LLC |
| Warrants | LIMNW | The Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).6
Risk factors and legal proceedings
Legal proceedings
From time to time, we may become involved in actions, claims, litigation, and other legal proceedings occurring in the ordinary course of its business from time to time, including assertions by third parties relating to intellectual property infringement, contract breaches, or employment-related matters. Except as described below, we are not currently a party to any actions, claims, suits, or other legal procedures whose conclusion, if not determined in our favor, would have a major adverse effect on our business, financial condition, or results of operations, either individually or in the aggregate.
On August 4, 2025, Dr. Someit Sidhu (“Dr. Sidhu”) filed a complaint against the Company (collectively, the “Sidhu Matter”) for breach of contract in the New York State Supreme Court, County of New York. Dr. Sidhu alleges the Company breached a certain Letter Agreement for Consulting Services, dated December 8, 2022 (the “Consulting Agreement”) entered into by Dr. Sidhu and Iris prior to the Business Combination by failing to pay Dr. Sidhu an advisory fee of $25,000 (“Advisory Fee”) upon the execution of the Business Combination Agreement, and a $1,400,000 despac success fee (“Despac Fee” together with the Advisory Fee, the “Fees”) upon consummation of the Business Combination. Dr. Sidhu also alleges claims of unjust enrichment and quantum meruit, which likewise arise out of the Company’s alleged failure to pay Dr. Sidhu the Fees. On December 10, 2025, the Company filed a motion to dismiss Dr. Sidhu’s complaint with prejudice, which motion remains pending.
The opening of Item 3, Legal Proceedings.6
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7SEC EDGARScott Dam, Chief financial officer
- 8
- 9
- 10
- 11SEC EDGARJi Yeon Baek, Board member
- 12SEC EDGARNicholas Fernandez, Board member
- 13SEC EDGAREun Sook Lee, Board member
- 14SEC EDGARRichard Jaihwan Baek, Board member
- 15
- 16
- 17
- 18
- 19SEC EDGARShareholder vote
- 20SEC EDGAROther events
- 21
- 22
- 23
- 24SEC EDGARListing notice or transfer
- 25SEC EDGAREntered a material agreement
- 26SEC EDGARBylaws or fiscal year changed
- 27
- 28
- 29NasdaqNasdaq calendar
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- 37