Company: LIMN
Filing Date: 2025-06-24
Form Type: S-1
Source: 0001410578-25-001432
Chunk: 235

Company: Liminatus Pharma, Inc.
Filing Date: 2025-06-24
Form: S-1
Chunk 235
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 procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ WithumSmith+Brown, PC

We have served as the Company’s auditor since 2022.

Whippany, New Jersey

May 6, 2025

<div align='center'>F-36</div>

LIMINATUS PHARMA, LLC BALANCE SHEETS (in thousands)

| ​                                       
 ​                                       
 ​                                       
 ASSETS                                  
 Current assets:                         | ​ 
 ​ 
 ​ 
 ​ | ​            
 December 31, 
 2024         
 ​            
 ​            |       ​ 
       ​ 
       ​ | ​ 
 ​ 
 ​ | ​    
 2023 
 ​    
 ​    |       ​ 
       ​ 
       ​ |
|:----------------------------------------|:--|:-------------|--------:|:--|:-----|--------:|
| Cash                                    | ​ | $            |      56 | ​ | $    |     434 |
| Loan receivable                         | ​ |              |   3,669 | ​ |      |     819 |
| Due from related party, current         | ​ |              |       — | ​ |      |     126 |
| Deferred transaction costs              | ​ |              |   1,401 | ​ |      |     840 |
| Prepaid and other current assets        | ​ |              |     156 | ​ |      |      22 |
| Total current assets                    | ​ |              |   5,282 | ​ |      |   2,241 |
| ​                                       | ​ | ​            |       ​ | ​ | ​    |       ​ |
| Non-current assets:                     | ​ |              |         | ​ |      |         |
| Due from related party, non-current     | ​ |              |     126 | ​ |      |       — |
| Property and equipment, net             | ​ |              |       1 | ​ |      |       1 |
| Total non-current assets                | ​ |              |     127 | ​ |      |       1 |
| ​                                       | ​ | ​            |       ​ | ​ | ​    |       ​ |