Liminatus Pharma Receives Nasdaq Delisting Notice; Trading Suspension Set for May 29
Summary
Liminatus Pharma received a formal Nasdaq delisting notification, with trading suspension scheduled for May 29 if an appeal is not filed by May 27. The company failed to meet the $50 million market value of listed securities and $15 million market value of publicly held shares requirements. This follows previous disclosures in the March 31 10-K and May 15 10-Q regarding imminent delisting risk. The notice immediately follows the company's announcement of a 'highly transformative' acquisition of InnocsAI, creating significant uncertainty about its ability to remain listed on a major exchange. The company intends to appeal the decision.
At the time of this announcement, LIMN was trading at $0.23 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $11M. The 52-week trading range was $0.16 to $33.66. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.