Liminatus Pharma, Inc. (NASDAQ: LIMN) has priced a best‑efforts public offering of 13,813,000 shares of its common stock and warrants to purchase up to 20,719,500 shares at a combined offering price of $0.29 per share. The offering is expected to close on or about February 18, 2026, and is being conducted under a registration statement on Form S‑1 that became effective on February 13, 2026.
Gross proceeds from the sale of the common shares are projected to be approximately $4.0 million. If the warrants are exercised on a cash basis, the company could raise an additional $6.0 million, bringing total potential proceeds to roughly $10.0 million.
Liminatus plans to use the net proceeds to fund working capital needs, support general corporate purposes, and advance its immuno‑oncology pipeline, with a particular focus on its lead candidate IBA101, a second‑generation CD47‑blockade therapy designed to mitigate the severe cytopenia observed in earlier CD47 inhibitors.
The company is a pre‑clinical, pre‑revenue entity that has been burning cash rapidly, with a current ratio of 0.42 and negative shareholder equity. Its debt‑to‑equity ratio stands at –87.6 %. In addition, Liminatus has received a Nasdaq listing compliance notice, underscoring the urgency of the capital raise.
By securing this financing, Liminatus aims to position itself to enter the post‑patent checkpoint‑inhibitor market, where it seeks to combine IBA101 with existing therapies to improve safety and efficacy. The offering represents a critical step in moving the drug from pre‑clinical development toward the first‑in‑human trials expected to begin in early 2027.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.