Nasdaq Denies Second Extension; Delisting Decision Looms for Liminatus Pharma

summarizeSummary

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.

check_boxKey Events · Legal and Risk Events · LIMN

• 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.

• 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.

• 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.

• 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.

auto_awesomeAnalysis · 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.