aibioLiminatus Pharma gets Nasdaq deficiency notice over late Form 10-Q
Tickers LIMN
Liminatus Pharma (Nasdaq: LIMN) has until October 21, 2025 to submit a plan to regain compliance after the delayed filing of its report for the period ended June 30, 2025. The stock keeps trading for now.
Key facts
- Company
- Liminatus Pharma, Inc. (NASDAQ: LIMN)
- News type
- Listings
- Primary source
- Liminatus Pharma, Inc. Form 8-K filed August 25, 2025 (SEC EDGAR)
Liminatus Pharma, Inc. (Nasdaq: LIMN) said on August 25, 2025 that it is no longer in compliance with a Nasdaq listing rule because it has not filed its quarterly report on time. The company received a Nasdaq deficiency notice on August 22, 2025. The notice cites Nasdaq Listing Rule 5250(c)(1) and the delay in filing the company's Quarterly Report on Form 10-Q for the period ended June 30, 2025. Liminatus disclosed the notice in a Form 8-K and a press release, both dated August 25, 2025.
A deficiency notice is a letter from an exchange saying a listed company no longer meets one of its continued listing standards. A Form 10-Q is the quarterly report a public company files with the U.S. Securities and Exchange Commission. Here, the report covers the quarter that ended June 30, 2025.
What the Nasdaq notice means for trading
The letter came from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market LLC. The 8-K and the press release give the same account of the notice. The company says the deficiency letter has no immediate effect on the listing of its common stock. The shares will continue to trade on Nasdaq under the symbol "LIMN" at this time.
The Nasdaq compliance deadlines
The two deadlines below come from the Nasdaq rules as the company describes them. Liminatus has 60 calendar days, or until October 21, 2025, to submit a plan to regain compliance. If Nasdaq accepts the plan, it can grant an exception of up to 180 calendar days from the filing's due date. That would run to February 16, 2026, and gives the company until that date to regain compliance.
If Nasdaq does not accept the compliance plan, the company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel.
The company says it is in the process of completing the Form 10-Q and intends to file it as soon as practicable.
The filing carries a caution about what comes next. It says there can be no assurance that Nasdaq will accept the company's plan to regain compliance, that the company will regain compliance with the Nasdaq listing rules during any compliance period or in the future, or that it will otherwise meet Nasdaq continued listing standards.
Why the company disclosed it
The 8-K was filed under Item 3.01, the item used to report a notice of delisting or failure to satisfy a continued listing rule or standard. The company also points to Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification. It issued the press release on August 25, 2025 to meet that requirement. The release is attached to the 8-K as an exhibit.
Chief Executive Officer Chris Kim signed the 8-K on behalf of the company on August 25, 2025. The press release, datelined La Palma, Calif., lists Chris Kim as the contact for more information.
About Liminatus Pharma
Liminatus describes itself as a pre-clinical stage biopharmaceutical company developing novel, immune-modulating cancer therapies. Its candidate, IBA101, is a humanized anti CD47 monoclonal antibody. The company calls it a next generation CD47 checkpoint inhibitor.
The company says the initial indication for IBA101 is expected to be patients with advanced solid cancers, including non-small cell lung cancer.