Nasdaq Denies Second Extension; Delisting Decision Looms for Liminatus Pharma
LIMN is trading near its 52-week low of $0.095 (14% above the low) on light trading volume (0.1× avg).
Summary
Liminatus Pharma has been denied a second 180-day extension to regain Nasdaq compliance, and the Hearings Panel will now decide on delisting. The company must respond by July 27, with a reverse split vote scheduled for August 3.
Key Events · Legal and Risk Events · LIMN
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Second Extension Denied
Nasdaq notified Liminatus on July 20 that it did not regain compliance with the $1 bid price rule by the July 14 deadline and is ineligible for a second 180-day extension.
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Panel Decision Pending
The Nasdaq Hearings Panel will consider this additional deficiency in its decision on continued listing; the company must submit a written response by July 27, 2026.
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Reverse Split Vote on August 3
A shareholder meeting is scheduled for August 3 to authorize a reverse stock split of up to 1-for-50, which could bring the stock price above $1 if approved and implemented.
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Going Concern and Cash Burn
The company previously reported substantial doubt about its ability to continue as a going concern, with a significantly widened net loss and increased cash burn in Q1 2026.
Analysis · LIMN · Life Sciences
Liminatus Pharma failed to regain compliance with Nasdaq's $1 minimum bid price rule by the July 14 deadline and has been denied a second 180-day extension. The Nasdaq Hearings Panel will now consider this additional deficiency in its decision on the company's continued listing, with a written response due July 27. The stock trades at $0.1086, far below the $1 threshold, and the company is already under a going-concern warning. A delisting would move trading to the OTC, severely limiting liquidity and access to capital, and could trigger defaults or accelerate obligations. The upcoming August 3 shareholder vote on a reverse split is the last clear path to regain compliance, but even that requires the Panel to grant an extension.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 41.9% of the 327 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.46%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LIMN was trading at $0.11 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $7.4M. The 52-week trading range was $0.10 to $9.38. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.