LIMN PRESS-RELEASE SEC Filing Analysis

Latest settled — T+5d

LIMN ▲ +6.51% at T+5d

SHORT call ✗ call lost -6.51% · α vs SPY -4.85% · entry $0.1690 → $0.1800

Next anchor: T+20d in 3d

Last close $0.1220 (close Jun 17) · +27.81% from $0.1690 entry (call sign-flipped)

Entry anchored
May 21, 2026
via day open

T+1d

-2.96%

call +2.96% · α +3.54%

$0.1640

settled 28d ago

T+5d

+6.51%

call -6.51% · α -4.85%

$0.1800

settled 21d ago

T+20d

—

call — · α —

—

in 3d

T+60d

—

call — · α —

—

in 8w

Price Chart

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Executive Summary

Liminatus Pharma received a Nasdaq delisting notice after failing to regain compliance with the $50M market value of listed securities (MVLS) and $15M market value of publicly held shares (MVPHS) requirements. The company intends to appeal, which will stay the suspension pending a hearing, but the risk of eventual delisting is high given the $8M market cap.

Actionable Insight

The appeal stay provides a temporary reprieve, but the fundamental gap between $8M market cap and $50M MVLS requirement makes compliance nearly impossible. Expect eventual delisting and OTC trading. Short sellers may target the stock ahead of the May 29 suspension date if appeal is denied. Monitor for any reverse stock split or capital restructuring plan filed with the appeal.

Key Facts

Received delisting notice on May 20, 2026 for failure to comply with MVLS ($50M) and MVPHS ($15M) rules.
Appeal must be requested by May 27, 2026; trading suspension would begin May 29, 2026 without a stay.
Company intends to appeal, which will stay suspension pending a Nasdaq Hearings Panel decision.
Market cap is only $8M, far below the $50M MVLS threshold, making compliance extremely unlikely.
Prior report on LIMN (neutral, score 4) saw T+20 return of -19.13%, indicating severe downside risk.

Financial Impact

Delisting would remove Nasdaq listing and registration, severely impairing liquidity and access to capital. Market cap is $8M vs. $50M MVLS requirement.

liquiditymarket capitalizationaccess to capital

Risk Factors

Nasdaq may deny the appeal, leading to immediate suspension and delisting.
Delisting would trigger defaults on debt covenants and force conversion of convertible instruments.
OTC trading after delisting typically results in severe liquidity and price deterioration.
Company may need to raise dilutive capital at distressed levels to attempt compliance.

Market Snapshot

Exchange

Nasdaq

Sector

Biological Products, (No Diagnostic Substances)

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3299867

2 reports for LIMN

T+1T+5T+20T+60

Filters

Reports for LIMN — sortable, filterable
	Type				Now
May 22, 2026 28d ago	Press Release BEARISH ★ 8/10	$0.1690 $0.1800	▼ −6.51%	▼ −4.85%	$0.1220 (+27.81%)
Mar 17, 2026 13w ago	Press Release NEUTRAL ★ 4/10	$0.2300 $0.2020	▼ −12.17%	▼ −9.52%	$0.1220 (−46.96%)

US Market Status

Market Closed — Juneteenth — Opens Mon (77h 21m)

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