LIMN Shares Plummet 38% After Q3 Report Reveals $2.27M Loss and Cash Squeeze
By ATTN Desk · Editorial oversight: Sean Han
Introduction
Liminatus Pharma Inc (NASDAQ: LIMN) is a clinical-stage biopharmaceutical company headquartered at 3524 Silverside Road Suite 35B, Wilmington, Delaware. On November 21, 2025, shares traded at US$0.6491, down 38.18% from the previous close, on a volume of 836,694 shares.
Corporate Structure and Operations
Liminatus Pharma’s executive and research teams focus on drug discovery and development, although the company does not disclose total headcount. According to its third-quarter 2025 10-Q filing (filed November 14, 2025), the firm held US$724,500 in cash and cash equivalents as of September 30, 2025. Key financial and trading metrics as of November 21, 2025, include:
| Metric | Value |
|---|---|
| Market Capitalization (intraday) | US$17.57 million |
| 52-Week Range | US$0.6140 – 33.6600 |
| Beta (5Y monthly) | 0.36 |
| Net Income (TTM) | –US$2.27 million |
| Diluted EPS (TTM) | –US$0.16 |
| Average Daily Volume | 1,280,909 shares |
Leadership details are accessible via SEC disclosures and limited LinkedIn profiles, including one for Scott Dam, whose specific role remains undisclosed in public sources.
Biopharmaceutical by Melany @ tuinfosalud.com
Recent Developments and News
• On August 25, 2025, Liminatus Pharma filed an 8-K (Items 3.01, 9.01) without disclosing significant operational changes.
• The 10-Q for the quarter ended September 30, 2025, was filed on November 14, 2025, outlining quarterly results and operational commentary.
• The company’s website (liminatuspharma.com) displays a 2025 copyright notice, confirming ongoing corporate communications.
Financial and Strategic Analysis
In the 10-Q dated November 14, 2025, Liminatus Pharma reported net losses and negative cash flows:
- Quarterly revenue figures and year-over-year comparisons were presented but not quantified in available summary materials.
- Net loss for the trailing twelve months reached US$2.27 million, corresponding to a diluted EPS of –US$0.16.
- Research and development expenses are outlined as a key area of expenditure as the company progresses its clinical pipeline.
- Levered free cash flow was –US$676,760 for the twelve months ended September 30, 2025, indicating funding requirements for ongoing trials.
Risk factors cited in SEC filings include uncertainties related to regulatory approvals, competition in specialty pharmaceuticals, and reliance on external financing. Strategic initiatives emphasize progression through clinical milestones, potential partnerships, and capital-raising efforts to maintain operations.
Market Position and Industry Context
With a market capitalization of approximately US$17.6 million, Liminatus Pharma is categorized within the micro-cap segment of the biotechnology sector. Its 52-week low of US$0.6140 and a peak of US$33.66 reflect fluctuations in investor interest. A beta of 0.36 indicates lower price volatility relative to the S&P 500. On November 21, 2025, trading volume (836,694) was below the 20-day average (1,280,909), suggesting reduced trading activity in anticipation of clinical or regulatory events. Early-stage pharmaceutical peers exhibit similar cash-burn profiles and dependency on successful trial outcomes for potential valuation increases.
tl;dr
On November 21, 2025, LIMN shares fell 38.18% to US$0.6491 amid muted trading. The 10-Q filed November 14, 2025, for Q3 ended September 30, 2025, reported net losses (–US$2.27 million TTM), negative free cash flow, and US$724,500 in cash. Investors are monitoring clinical and regulatory milestones that may influence the company’s near-term funding needs and share performance.