Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 377

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 377
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, offset by less advances to the Company for research and development of $1.2 million.

Our net cash used in operating activities was $3.3 million for the year ended December 31, 2023 as compared to $0.9 million for the year ended December 31, 2022. The increase in net cash used in operating activities of $2.4 million was primarily due to an increase in net loss of $2.1 million and $0.8 million of deferred transactions costs that were paid during the year ended December 31, 2023. The increase was partially offset by a decrease in advances for research and development, which were paid during the year ended December 31, 2022 and utilized during the year ended December 31, 2023, and increases in accounts payable and accrued expenses and due to related parties.

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TABLE OF CONTENTS

Investing Activities

Net cash used in investing activities was $2.3 million for the nine months ended September 30, 2024 as compared to $0.4 million for the nine months ended September 30, 2023 due to an increase in loans made to the Iris entity.

Net cash used in investing activities was $0.8 million for the year ended December 31, 2023 as compared to $0 for the year ended December 31, 2022 due to the loans to the Iris entity.

Financing Activities

Net cash provided by financing activities for the nine months ended September 30, 2024 of $3.2 million resulted from borrowings from Valetudo, Prophase and Hana of $0.8 million, $1.6 million and $0.8 million, respectively. Net cash used in financing activities of $1.7 million for the nine months ended September 30, 2023 was from $2.0 million from borrowings with Valetudo, offset by $3.7 million of repayments for two short-term loans.

Net cash used in financing activities for the year ended December 31, 2023 of $0.5 million resulted from loan payments made on the Ewon Loan and Prophase Loans of $3.9 million offset by $3.4 million received in short-term loans from Valetudo and Ewon. Net cash provided by financing activities for the year ended December 31, 2022 of $5.9 million was primarily due to $4.2 million received from