Liminatus Pharma reported its QQ1 2026 results with no revenue and a net loss of $1.1237 million for the quarter ended March 31, 2026. Total operating expenses were $1.1009 million, comprised of $0.4000 million in research and development and $0.7009 million in general and administrative expenses, underscoring a classic pre-revenue, clinical-stage profile where burn is focused on pipeline advancement and corporate infrastructure. With an earnings per share of -$0.03 and an absence of revenue, the quarter highlights the intrinsic risk-reward of early-stage biotech: substantial upside tied to future data milestones, balanced by ongoing cash burn and financing considerations.
The company did not publish forward guidance in the filing, and there is no detected earnings call transcript in the provided data, limiting visibility into management’s near-term catalysts and financing strategy. Investors should monitor upcoming clinical readouts, potential partnership discussions, and any financing activities that will determine the company’s runway. In the near term, LIMN’s investment case rests on upcoming data milestones and the ability to secure strategic financing to sustain operations until meaningful clinical readouts materialize.
Key Performance Indicators
Operating Income
Stable
-1.10M
QoQ: N/A | YoY: N/A
Net Income
Stable
-1.12M
QoQ: N/A | YoY: N/A
EPS
Stable
-0.03
QoQ: N/A | YoY: N/A
Revenue Trend
Margin Analysis
Financial Highlights
Financial highlights (USD, quarter ended 2026-03-31):
- Revenue: N/A
- Gross profit: N/A
- R&D expenses: 400,000.00
- General and administrative expenses: 700,898.00
- Selling and marketing expenses: N/A
- Operating expenses: 1,100,898.00
- Interest expense: -18,638.00
- Other income/expenses, net: -22,816.00
- Operating income: -1,100,898.00
- Income before tax: -1,123,714.00
- Net income: -1,123,714.00
- Earnings per share (EPS): -0.0300000000
- Weighted-average shares outstanding: 35,999,589
Notes: Revenue and gross profit are not reported for this quarter, reflecting a pre-revenue, clinical-stage model typical of biotechnology companies. The quarterly burn (operating expenses) totaled $1.1009 million. Interest and other income/expenses modestly affected the bottom line. There is no disclosed tax expense or cash balance in the provided data.
Income Statement
Metric
Value
YoY Change
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Key Financial Ratios
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