Company: LIMN
Filing Date: 2025-06-02
Form Type: 8-K/A
Source: 0001104659-25-055078
Chunk: 18

Company: Liminatus Pharma, Inc.
Filing Date: 2025-06-02
Form: 8-K/A
Chunk 18
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 annum and due June 6, 2025 (the “Prophase March 2025 Loan”), and our loans with Prophase issued
April 2025, totalling $3.6 million that bear interest at 6% per annum and are due May 2, 2025, May 13, 2025, and May 14, 2025 (the “Prophase
April 2025 Loans”).

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As the Company’s loans
are with related parties, the Company and its related parties have mutually agreed to defer repayment of the past due loans until the
completion of the Business Combination. As such, the Company deems that it is not in default of its loan agreements. Such amounts were still due and payable subsequent to the closing of the Business Combination.

We therefore anticipate that
we will need substantial additional funding in connection with our continuing operations. After the completion of the Business Combination,
on a pro forma basis, the Company had approximately $12.0 million in cash and cash equivalents. We intend to devote most of the net proceeds
from the Business Combination to clinical development of our product candidates, repaying our debt, our public company compliance costs
and certain of the milestone payments under the CAR-T License and the Vaccine License agreements, if any. Based on our current business
plans, we believe that the anticipated net proceeds from the Business Combination will enable us to fund our operating expenses and capital
requirements through at least the next twelve months. Our estimate as to how long we expect the net proceeds from the Business Combination
to be able to fund our operating expenses and capital requirements is based on assumptions that may prove to be wrong, and we could use
our available capital resources sooner than we currently expect. Changing circumstances, some of which may be beyond our control, could
result in fewer cash and cash equivalents available to us or cause us to consume capital significantly faster than we currently anticipate,
and we may need to seek additional funds sooner than planned.

Because of
the numerous risks and uncertainties associated with research, development, and commercialization of pharmaceutical drug products, we
are unable to estimate the exact amount of our operating capital requirements. Our future funding requirements will depend on many factors,
including, but not limited to:

| · | the extent to which we develop, in-license or acquire other product candidates and technologies in our 
 product candidate pipeline;                                                                            |

| · | the costs and timing of process development and manufacturing scale-up activities associated with our