Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 371

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 371
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 for the nine months ended September 30, 2023. The decrease of $0.3 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.

Year Ended December 31, 2023 Compared to Year Ended December 31, 2022

General and Administrative Expenses

General and administrative expenses were $1.1 million for the year ended December 31, 2023 as compared to $0.9 million for the year ended December 31, 2022 for an increase of $0.2 million primarily related to accounting expenses and other transaction costs incurred related to the Business Combination and corporate matters.

Research and Development Expenses

Research and development expenses increased by $1.9 million during the year ended December 31, 2023 as compared to the year ended December 31, 2022, from $1.9 million for the year ended December 31, 2022 to $3.8 million for the year ended December 31, 2023. The increase in research and development expenses was primary related to increased spending for preclinical and clinical trials for both the CAR-T products and the GCC vaccine products.

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TABLE OF CONTENTS

### Going Concern, Liquidity and Capital Resources

### Overview
Since our inception, we have not generated any revenue and expect to continue to incur significant operating losses for the foreseeable future and may never become profitable. As of September 30, 2024, we had cash of approximately $47,000. We have funded our operations through the sale of equity, raising an aggregate of $4.5 million of gross proceeds from the sale of membership interests, and debt, issuing $10.0 million of bonds and $9.3 million of notes through September 30, 2024. Subsequent to September 30, 2024, the Company raised additional gross proceeds of $1.0 million of notes with Amantes, LLC, a related party of the Company. As of September 30, 2024, the Company has provided $3.1 million to Iris through an unsecured promissory note. Subsequent to September 30, 2024, the Company provided Iris an additional $0.8 million through an unsecured promissory note.

#### Going Concern
The Company evaluated whether there are any conditions and events, considered in the aggregate, that