LIMINATUS PHARMA, INC.
LIMN evidence brief
What we can confirm
- Market Cap:
- $4.6M
What it means
What to watch
Prepared research question
What matters most for LIMN—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · LIMN
Liminatus Pharma is a pre-clinical stage biopharmaceutical company developing a next-generation CD47 immune checkpoint inhibitor (IBA101) under license, with no revenue and a net loss of $1.4M as of 2026-06-30 [sec].
Key risk: Pre-revenue, no product sales
Market Cap
$4.6M
Cash Runway
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Lead Asset
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Next Catalyst
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Financial data as of Jun 30, 2026.
Liminatus Pharma is a pre-clinical stage biopharmaceutical company developing a next-generation CD47 immune checkpoint inhibitor (IBA101) under license, with no revenue and a net loss of $1.4M as of 2026-06-30 [sec].
- Pre-clinical stage, pre-revenue company developing a next-generation CD47 checkpoint inhibitor under a license agreement [sec · filed 2025-06-02].
- Net loss of $1.4M and shareholders' equity of $0.3M as of 2026-06-30 [sec].
- License for the CD47 immune checkpoint inhibitor assigned from InnoBation Bio Co. Ltd. and Valetudo Therapeutics LLC; TDT licenses terminated as of August 2024 [sec · filed 2026-06-24].
- Leadership team described as having extensive global experience in biopharma development, commercialization, and financing [sec · filed 2026-06-24].
- Company warns it may need to seek additional funds sooner than planned due to numerous risks and uncertainties [sec · filed 2025-06-02].
What works
- Leadership team has extensive global experience across all stages of development, commercialization, and financing of pharmaceutical products [sec · filed 2026-06-24].
- Company holds a license for a next-generation CD47 checkpoint inhibitor, a novel immune-modulating cancer therapy [sec · filed 2025-06-02] [sec_mda · as of 2026-03-31].
What to weigh
- Company is pre-clinical and pre-revenue, with a net loss of $1.4M and shareholders' equity of only $0.3M as of 2026-06-30 [sec].
- Company may need to seek additional funds sooner than planned due to uncertain capital consumption and numerous risks [sec · filed 2025-06-02].
- TDT licenses have been terminated as of August 2024, narrowing the pipeline to a single CD47 candidate [sec · filed 2026-06-24].
- Resource allocation decisions may cause the company to forego or delay pursuit of other opportunities that could have greater commercial potential [sec · filed 2026-06-24].
From the filings
Quoted directly from source documents.
Company is pre-clinical and pre-revenue
“We are a pre-clinical stage life sciences and pre-revenue company developing a next generation CD47 checkpoint inhibitor under a license agreement.”
SEC filings · June 2, 2025
License for CD47 inhibitor and termination of TDT licenses
“Subsequently, the Company was assigned the license to the CD47 immune checkpoint inhibitor from InnoBation Bio Co. Ltd. and Valetudo Therapeutics LLC. The TDT licenses have been terminated as of August 2024.”
SEC filings · June 24, 2026
Risk of needing additional funds sooner than planned
“Changing circumstances, some of which may be beyond our control, could result in fewer cash and cash equivalents available to us or cause us to consume capital significantly faster than we currently anticipate, and we may need to seek additional funds sooner than planned.”
SEC filings · June 2, 2025
Risks & what to watch (4)›
Key risks
- Pre-revenue, no product sales — Company is pre-clinical and pre-revenue, with no approved products or sales [sec · filed 2025-06-02].
- Very thin equity cushion — Shareholders' equity of only $0.3M as of 2026-06-30 provides minimal financial buffer [sec].
- Single-asset pipeline risk — TDT licenses terminated; pipeline narrowed to one CD47 candidate, increasing concentration risk [sec · filed 2026-06-24].
- Uncertain capital needs — Company may need to seek additional funds sooner than planned due to unpredictable R&D costs [sec · filed 2025-06-02].
What to watch
- Progress of the CD47 immune checkpoint inhibitor (IBA101) through pre-clinical development [sec · filed 2025-06-02].
- Any new financing or capital raises given the thin equity base and net losses [sec].
- Potential licensing or partnership decisions regarding the CD47 candidate [sec · filed 2026-06-24].
- Management's ability to execute on its strategy given the single-asset focus and resource constraints [sec · filed 2026-06-24].
Sources: SEC filings · SEC MD&A · Generated October 1, 2026 · How we verify sources →
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Evidence & data
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
15
Total value held
$189K
| Holder | Shares | Value |
|---|---|---|
| citadel advisors llc | 677,518 | $116K |
| geode capital management, llc | 117,783 | $20K |
| jane street group, llc | 71,318 | $12K |
| ubs group ag | 54,578 | $9K |
| vanguard capital management llc | 50,440 | $9K |
| vanguard personalized indexing management, llc | 34,706 | $6K |
| vanguard fiduciary trust co | 22,984 | $4K |
| two sigma securities, llc | 22,039 | $4K |
| state street corp | 19,000 | $3K |
| blackrock, inc. | 13,254 | $2K |
Showing top 10 of 15 institutional holders of LIMINATUS PHARMA, INC.. Open the full 13F history after sign-in.
Short Interest
as of May 10, 2026- % of float
- 6.1%
- Days to cover
- 0.3
- Shares short
- 1,989,468
- Daily short volume (Apr 30, 2026)
- 44.3%
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
LIMN short interestFrequently asked questions
What is the AI investment thesis for LIMINATUS PHARMA, INC.?
Liminatus Pharma is a pre-clinical stage biopharmaceutical company developing a next-generation CD47 immune checkpoint inhibitor (IBA101) under license, with no revenue and a net loss of $1.4M as of 2026-06-30 [sec].
Who is the CEO of LIMINATUS PHARMA, INC.?
Mr. Chris Kim J.D., L.L.M. is the chief executive officer of LIMINATUS PHARMA, INC. (LIMN).
Where is LIMINATUS PHARMA, INC. headquartered?
LIMINATUS PHARMA, INC. (LIMN) is headquartered in Cerritos, CA, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.