Liminatus Pharma, Inc. (NASDAQ: LIMN) has priced a public offering of 13.8 million shares and warrants at $0.29 per share, generating approximately $4.0 million in gross proceeds. The offering is scheduled to close on February 18, 2026, subject to customary closing conditions and regulatory approvals.
The pre-clinical stage immuno-oncology company intends to allocate the net proceeds from the offering toward working capital and general corporate purposes, with a focus on advancing its CD47-blockade therapeutic development programs. CD47-targeting approaches represent a significant area of research in immuno-oncology, aimed at enhancing the immune system's ability to recognize and eliminate cancer cells.
The offering underscores Liminatus Pharma's capital requirements as it progresses its pipeline through preclinical stages. The company's focus on CD47 antagonists positions it within a competitive segment of the immuno-oncology market, where multiple organizations are pursuing similar therapeutic mechanisms.