Liminatus Pharma Faces Delisting Concerns

TL;DR

Liminatus Pharma might get delisted - big trouble for the stock!

AI Summary

Liminatus Pharma, Inc. filed an 8-K on November 25, 2025, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The company, formerly known as Iris Parent Holding Corp., is incorporated in Delaware and operates in the biological products sector.

Why It Matters

This filing indicates potential issues with Liminatus Pharma's compliance with stock exchange listing requirements, which could impact its stock's tradability and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to its operations and investors.

Key Players & Entities

• Liminatus Pharma, Inc. (company) — Registrant
• Iris Parent Holding Corp. (company) — Former company name
• Delaware (jurisdiction) — State of incorporation
• November 19, 2025 (date) — Earliest event reported
• November 25, 2025 (date) — Date of report

FAQ

Key Financial Figures

• $50,000,000 — et Value of Listed Securities (MVLS) of $50,000,000 (the "MVLS Rule"), based upon a review
• $15,000,000 — alue of Publicly Held Shares (MVPHS) of $15,000,000 (the "MVPHS Rule"), based upon a review
• $50 million — al assets and total revenue of at least $50 million each for the most recently completed fi

Filing Documents

• tm2532232d1_8k.htm (8-K) — 33KB
• 0001104659-25-116049.txt ( ) — 238KB
• limn-20251119.xsd (EX-101.SCH) — 3KB
• limn-20251119_def.xml (EX-101.DEF) — 26KB
• limn-20251119_lab.xml (EX-101.LAB) — 36KB
• limn-20251119_pre.xml (EX-101.PRE) — 25KB
• tm2532232d1_8k_htm.xml (XML) — 5KB

01 Notice of Delisting or Failure to

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On November 19, 2025, Liminatus Pharma, Inc. (the "Company") received notices from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market LLC indicating that the Company was no longer in compliance with (i) Nasdaq Listing Rule 5450(b)(2)(A) due to its failure to maintain a minimum Market Value of Listed Securities (MVLS) of $50,000,000 (the "MVLS Rule"), based upon a review of the Company's MVLS for the last 30 consecutive business days and (ii) Nasdaq Listing Rule 5450(b)(2)(C) due to its failure to maintain a minimum Market Value of Publicly Held Shares (MVPHS) of $15,000,000 (the "MVPHS Rule"), based upon a review of the Company's MVPHS for the last 30 consecutive business days. The Nasdaq staff noted that the Company also does not meet the requirements under Listing Rule 5450(b)(3)(A), which requires the Company to have total assets and total revenue of at least $50 million each for the most recently completed fiscal year or two of the three most recently completed fiscal years. The notification has no immediate effect on the listing of the Company's common stock, and its common stock will continue to trade on Nasdaq under the symbol "LIMN" at this time. Under the Nasdaq rules, the Company has been provided a compliance period of 180 calendar days, or until May 18, 2026, in which to regain compliance with the MVLS Rule. If at anytime during this compliance period the Company's MVLS closes at $50,000,000 or more for a minimum of ten consecutive business days, Nasdaq will provide the Company written confirmation of compliance and this matter will be closed. In the event the Company does not regain compliance with the MVLS Rule prior to the expiration of the compliance period, it will receive written notification that its securities are subject to delisting. At that time, the Company may appeal the delisting determination to a Nasdaq H

Forward-Looking Statements

Forward-Looking Statements Certain information contained in this report consists of forward-looking statements for purposes of the federal securities law that involve risks, uncertainties and assumptions that are difficult to predict. Words such as "will," "would," "may," "intends," "potential," and similar expressions, or the use of future tense, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Such forward-looking statements are not guarantees of performance and actual actions or events could differ materially from those contained in such statements. For example, there can be no assurance that Nasdaq will accept the Company's plan to regain compliance or that the Company will regain compliance with the Nasdaq listing rules during any compliance period or in the future, or otherwise meet Nasdaq continued listing standards. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to the Company's filings with the SEC. The forward-looking any forward-looking statements to reflect changes in information, events or circumstances after the date of this report, unless required by law.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File (formatted as Inline XBRL)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: November 25, 2025 LIMINATUS PHARMA, INC. By: /s/ Chris Kim Name: Chris Kim Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR