Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 375

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 375
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 the Company’s loans are with related parties, the Company and its related parties have orally agreed to defer repayment of the past due loans until the completion of the Company’s business combination with Iris. As such, the Company deems that it is not in default of its loan agreements.

We therefore anticipate that we will need substantial additional funding in connection with our continuing operations. After the completion of the Business Combination, we would expect to have between approximately $2.9 million and $4.8 million, depending on funding redemptions, in cash and cash equivalents and before any operating expenses from September 30, 2024 until the closing of the Business Combination. We intend to devote most of the net proceeds from the Business Combination to clinical development of our product candidate, 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:

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

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the costs and timing of process development and manufacturing scale-up activities associated with our product candidates and other programs as we advance them through clinical development;

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the number and development requirements of product candidates that we may pursue;

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the costs, timing and outcome of regulatory review of our product candidates;

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the timing and amount of our milestone and royalty payments to InnoBation under the CD47 License;

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the costs and timing of future commercialization activities, including product manufacturing, marketing, sales and distributions, for any of