Liminatus Pharma, Inc. Class A Common Stock
LIMNHealthcare|Biotechnology|US
$2.54
-0.09 (-3.42%)
Tangible Book / Share
$0.63
Cash / Share
$6.35
Financials
Financial Snapshot
Market Cap
$3.4M
Enterprise Value
$1.8M
Revenue (TTM)
$0.00
Net Income (TTM)
-$12.5M
Cash & Investments
$3.0M
Net Cash
$1.6M
Free Cash Flow (TTM)
-$4.0M
Operating CF (TTM)
-$4.0M
Debt/Equity
4.80
Cash Runway & Burn Rate
Cash on Hand
$3.0M
Quarterly Burn
$993.2K
Monthly Burn
$331.1K
Est. Runway
~3.0 quarters
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Cash & Investments | $336.2K | $5.0M | $434.0K | $804.5K | $337.7K | $3.0M | |
| Operating Cash Flow | -$1.2M | -$869.0K | -$3.3M | -$3.1M | -$10.0M | -$4.0M | |
| Free Cash Flow | -$1.2M | -$869.0K | -$3.3M | -$3.1M | -$10.0M | -$4.0M | |
| Capital Expenditure | $0.00 | $0.00 | $0.00 | $0.00 | -$13.1K | -$13.1K | |
| Financing Cash Flow | $277.6M | $5.9M | -$450.0K | $1.0M | $11.0M | $5.7M |
R&D Spending
R&D (TTM)
$1.0M
R&D Intensity
—
R&D Growth vs Prior
—
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $3.8M | $1.9M | $3.8M | $2.7M | $0.00 | $1.0M | |
| SG&A | $197.0K | $856.0K | $1.1M | $645.0K | $3.0M | $3.1M |
Income Statement
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $986.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$986.00 | |
| R&D | $3.8M | $1.9M | $3.8M | $2.7M | $0.00 | $1.0M | |
| SG&A | $197.0K | $856.0K | $1.1M | $645.0K | $3.0M | $3.1M | |
| Operating Income | -$2.5M | -$2.7M | -$2.6M | -$2.9M | -$3.0M | -$4.1M | |
| Interest Expense | $0.00 | $219.0K | $175.0K | $138.1K | $215.9K | $75.6K | |
| Pretax Income | $4.4M | -$2.9M | -$1.2M | -$2.9M | -$10.2M | -$12.5M | |
| Net Income | $4.4M | -$2.9M | -$1.2M | -$2.9M | -$10.2M | -$12.5M | |
| EPS (Diluted) | 6.50 | -4.12 | -7.50 | -20.00 | -21.50 | -23.70 | |
| EBITDA | $4.4M | -$2.7M | -$1.1M | -$2.7M | -$10.0M | -$12.4M | |
| Shares Out. (M) | 0.69 | 0.69 | 0.16 | 0.14 | 0.48 | 0.48 |
Balance Sheet
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $336.2K | $5.0M | $434.0K | $804.5K | $337.7K | $3.0M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $421.9K | $360.6K | $210.9K | $812.7K | $500.6K | $3.4M | |
| Total Assets | $276.4M | $15.5M | $4.5M | $2.8M | $512.8K | $3.4M | |
| Total Current Liabilities | $1.4M | $3.6M | $5.2M | $8.7M | $10.3M | $3.0M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $21.6M | $14.2M | $15.2M | $18.7M | $10.3M | $3.1M | |
| Stockholders' Equity | $254.9M | $1.3M | -$10.7M | -$15.9M | -$9.8M | $300.6K | |
| Retained Earnings | -$21.1M | -$14.0M | -$14.9M | -$17.5M | -$38.9M | -$41.4M |
Cash Flow Statement
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.2M | -$869.0K | -$3.3M | -$3.1M | -$10.0M | -$4.0M | |
| Capital Expenditure | $0.00 | $0.00 | $0.00 | $0.00 | -$13.1K | -$13.1K | |
| Free Cash Flow | -$1.2M | -$869.0K | -$3.3M | -$3.1M | -$10.0M | -$4.0M | |
| Investing Cash Flow | -$276.0M | $0.00 | -$819.0K | $2.0M | -$788.1K | -$13.1K | |
| Financing Cash Flow | $277.6M | $5.9M | -$450.0K | $1.0M | $11.0M | $5.7M | |
| Issuance of Stock | $283.1M | $4.2M | $0.00 | $0.00 | $10.6M | $3.1M | |
| Repurchase of Stock | $0.00 | -$700.0K | -$10.7M | -$1.8M | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $2.4M | -$450.0K | $2.9M | $3.0M | $0.00 | |
| Stock Based Comp. | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Change in Cash | $336.2K | $5.0M | -$4.6M | $648.1K | $281.3K | $1.7M |
Dilution Tracker
Shares Outstanding
1M
5-Year Share Growth
-31.1%
Stock Issuance (TTM)
$3.1M
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.69 | 0.69 | 0.16 | 0.14 | 0.48 | 0.48 | |
| Change vs Prior % | — | -0.2% | -76.7% | -10.2% | 230.3% | 0.0% | |
| Stock Issuance | $283.1M | $4.2M | $0.00 | $0.00 | $10.6M | $3.1M | |
| Stock Repurchase | $0.00 | -$700.0K | -$10.7M | -$1.8M | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Margins & Profitability
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| ROE % | 1.7% | -226.2% | 11.5% | 18.3% | 104.0% | 443.6% | |
| ROA % | 1.6% | -18.9% | -27.2% | -102.7% | -1990.4% | -367.9% | |
| ROIC % | -0.9% | -9.5% | -16.8% | 398.0% | 35.6% | -225.1% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | 0.0% | -6.9% | 4.5% | -12.4% | -2.1% | |
| Net Income | 0.0% | -167.0% | 58.1% | -136.9% | -251.4% | |
| EPS (Diluted) | 0.0% | -163.3% | -82.3% | -166.7% | -7.5% | |
| Operating Cash Flow | 0.0% | 28.5% | -284.9% | 7.1% | -220.7% | |
| Free Cash Flow | 0.0% | 28.5% | -284.9% | 7.1% | -221.2% | |
| R&D Expense | 0.0% | -51.3% | 102.8% | -28.5% | -100.0% | |
| SG&A Expense | 0.0% | 334.5% | 24.1% | -39.3% | 360.1% | |
| Total Assets | 0.0% | -94.4% | -70.9% | -37.2% | -81.9% | |
| Book Value / Share | 0.0% | -99.5% | -3650.0% | -65.4% | 81.3% | |
| Debt | 0.0% | 18233.3% | -2.7% | -68.1% | -71.8% | |
| Diluted Shares | 0.0% | -0.2% | -76.7% | -10.2% | 230.3% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B4.01
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
Tangible Book / Share
$0.63
Net Current Assets / Share
$0.22
Cash / Share
$6.35
| Metric | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
| P/E Ratio | 38.54 | -60.87 | -33.40 | -12.53 | -1.42 | -0.11 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 0.68 | 133.28 | -3.75 | -2.27 | -1.48 | 4.01 | |
| EV/EBITDA | 39.50 | -67.92 | -51.20 | -14.69 | -1.56 | -0.15 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-28.31
Distress
Piotroski F-Score
2
Weak