Company: LIMN
Filing Date: 2025-06-02
Form Type: 8-K/A
Source: 0001104659-25-055078
Chunk: 13

Company: Liminatus Pharma, Inc.
Filing Date: 2025-06-02
Form: 8-K/A
Chunk 13
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| · | the cost of insurance, including product liability insurance, in connection with clinical trials; |

| · | regulators or institutional review boards requiring that we or our investigators suspend or terminate                                 
 clinical development for various reasons, including noncompliance with regulatory requirements or a finding that the participants are 
 being exposed to unacceptable health risks; and                                                                                       |

| · | the efficacy and safety profile of our product candidates. |

General and Administrative Expenses

General and
administrative expenses currently consist of consulting fees for the chief executive officer and professional fees for legal costs relating
to our corporate matters, accounting and tax services and travel expenses. Other general and administrative expenses may also include
professional fees for patents, insurance costs and board of directors’ expenses.

We anticipate
that our general and administrative expenses will increase in the future as we continue to support research and development activities
and incur increased costs of operating a public company. These costs include increased headcount to support expanded operations and infrastructure,
and the initiation, continuation and expansion of our preclinical studies and clinical trials for our product candidates. Additionally,
we anticipate increased costs associated with maintaining compliance with Nasdaq rules and SEC requirements such as accounting, audit,
legal and consulting services, as well as director and officer liability insurance, investor, and public relations activities.

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Results of Operations for the Years Ended December 31, 2024 and 2023

General and Administrative Expenses

General and
administrative expenses were $0.6 million for the year ended December 31, 2024 as compared to $1.0 million for the year ended December 31,
2023. The decrease of $0.4 million was primarily related to decreases in accounting and legal costs related to the Business Combination
and general corporate matters during the year ended December 31, 2024 as compared to the year ended December 31, 2023.

Research and Development Expenses

Research and development expenses were $2.7 million for the year ended December 31, 2024 as compared to $3.8 million for the year ended December 31, 2023. The decrease of $1.1 million was primarily related to decreased spending for preclinical and clinical trials for both the
CAR-T products and the GCC vaccine products because of the termination of the CAR-T License and Vaccine License during the year ended
December 31, 2024.

Other Income and Expenses

Interest
expense was $0.3 million for the year ended