Company: LIMN
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001410578-25-001746
Chunk: 10

Company: Liminatus Pharma, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 10
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 principal risks we face: Risks Related to Liminatus’s Limited Operating History, Financial Condition and Capital Requirements

| ● | Liminatus is a pre-clinical stage biotechnology company with a history of losses. Therapeutic drug development is a highly speculative undertaking and involves a substantial degree of risk. Liminatus expects to continue to incur significant losses for the foreseeable future and may never achieve or maintain profitability. Liminatus has not taken a product through to commercialization. |

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| ● | Liminatus has incurred losses since inception, and expects to incur significant losses for the foreseeable future and may not be able to achieve or sustain profitability in the future. Liminatus has not generated any revenue from the Liminatus assets and may never generate revenue or become profitable. |

| ● | Liminatus’s recurring losses from operations and financial condition could raise substantial doubt about its ability to continue as a going concern. |

| ● | Clinical development includes a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results. |

| ● | Liminatus will need substantial additional funds to advance development of its CD47 immune checkpoint inhibitor, and it cannot guarantee that it will have sufficient funds available in the future to develop and commercialize its current or potential future product candidates and technologies. |

| ● | If Liminatus is unable to raise capital when needed, or on acceptable terms, it may be forced to delay, reduce and/or eliminate one or more of its development programs or future commercialization efforts. |

| ● | Liminatus’s business relies on certain intellectual property rights that can be terminated in certain circumstances. |

| ● | Liminatus’s business, operations and clinical development plans and timelines could be adversely affected by health crises, including business interruptions, staffing shortages and supply chain issues arising from the pandemic on the manufacturing, clinical trial and other business activities performed by Liminatus or by third parties with whom it may conduct business, including its anticipated contract manufacturers, contract research organizations (“CROs”), suppliers, shippers and others. |

Risks Related to Liminatus’s Product Development

| ● | Liminatus has never successfully completed the regulatory approval process for any product candidates and it may be unable to do so for any product candidates it acquires or develops. |

| ● | Liminatus is substantially dependent on the success of the Liminatus assets, and its anticipated clinical trials of the Liminatus