Liminatus Pharma, Inc. (LIMN): Nasdaq/NYSE listing notice — Liminatus Pharma receives Nasdaq delisting notices for failing MVLS and MVPHS rules

Liminatus Pharma, Inc.

Notices dated Nov 19, 2025: MVLS below $50M and MVPHS below $15M for 30 consecutive business days.
Company also fails alternative standard under Rule 5450(b)(3)(A) (total assets/revenue each <$50M).
180-day compliance period until May 18, 2026 to regain compliance; stock continues trading under LIMN.
If not compliant by deadline, Nasdaq will issue delisting notice; Company may appeal or transfer to Capital Market.
Management working to regain compliance but no assurance of success.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Liminatus Pharma, Inc. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A), 5450(b)(2)(C)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5450(b)(2)(A), 5450(b)(2)(C)

Exact text from the filing

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 (

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Liminatus Pharma, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-25-116049

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