Company: LIMN
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001410578-25-001518
Chunk: 13

Company: Liminatus Pharma, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 13
---
 would harm its business. |

Risks Related to Liminatus’s Commercial Operations

| ● | Liminatus faces substantial competition, which may result in others discovering, developing, licensing or commercializing products before or more successfully than Liminatus does. |

| ● | Public health crises such as pandemics or similar outbreaks have affected and could continue to seriously and adversely affect Liminatus’s preclinical studies and anticipated clinical trials, business, financial condition and results of operations. |

| ● | Liminatus’s business, operations, financial position and clinical development plans and timelines could be materially adversely affected by the continuing military action in Ukraine. |

<div align='center'>9</div>

Risks Related to Liminatus’s Business and Operations

| ● | Liminatus is dependent on its key personnel and anticipates hiring new key personnel. If Liminatus is not successful in attracting and retaining qualified personnel, including consultants, it may not be able to successfully implement its business strategy. |

| ● | Liminatus relies on third parties, including consultants, independent clinical investigators and CROs to conduct and sponsor some of the clinical trials of its product candidates. Any failure by a third party to meet its obligations with respect to the clinical development of Liminatus’s product candidates may delay or impair its ability to obtain regulatory approval for its product candidates. |

| ● | In order to successfully implement its plans and strategies, Liminatus will need to grow the size of its organization and may experience difficulties in managing this growth. |

| ● | Liminatus may, in the future, form or seek collaborations or strategic alliances or enter into licensing arrangements, and may not realize the benefits of such collaborations, alliances or licensing arrangements. |

| ● | Liminatus has identified a material weakness in its internal control over financial reporting, which may result in material misstatements of Liminatus’s consolidated financial statements or cause Liminatus to fail to meet its periodic reporting obligations. |

Risks Related to Liminatus’s Intellectual Property

| ● | Liminatus may not have patent rights or other proprietary rights sufficient to maintain exclusivity of its products, and may not be able to prevent competitive products, including generic/biosimilar products, from capturing the market. |

| ● | Liminatus enjoys only limited geographical protection with respect to certain licenses of patents and may not be able to protect its intellectual property rights throughout the world. |

| ● | If Liminatus does not obtain a patent term extension in the United States under the