Liminatus Pharma, Inc. 8-K

What Happened Liminatus Pharma, Inc. (NASDAQ: LIMN) filed an 8-K on May 27, 2026 reporting that Nasdaq determined the company did not meet the $50,000,000 market value of listed securities (MVLS) and $15,000,000 market value of publicly held shares (MVPHS) listing requirements. Nasdaq first notified the company on November 19, 2025 and gave a 180-day cure period (through May 18, 2026). On May 20, 2026 Nasdaq found the company had not regained compliance and said the securities would be delisted and trading suspended at the open on May 29, 2026 unless the company appealed by May 27, 2026. Liminatus requested an appeal on May 26, 2026; that appeal request stays any suspension or delisting pending the Nasdaq Hearings Panel decision.

Key Details

• Nasdaq rules involved: $50,000,000 MVLS (Rule 5450(b)(2)(A)) and $15,000,000 MVPHS (Rule 5450(b)(2)(C)).
• Initial noncompliance notice: November 19, 2025; 180-day cure period ended May 18, 2026.
• Nasdaq determination of continued noncompliance: May 20, 2026; planned suspension of common stock and warrants at market open May 29, 2026 unless appealed.
• Company action: appeal requested May 26, 2026 — appeal request stays suspension/delisting while the hearing is pending.

Why It Matters A Nasdaq delisting (if ultimately upheld) can reduce a stock’s liquidity, make it harder for shareholders to trade, and complicate the company’s access to public capital — outcomes that often affect share and warrant prices. The company’s timely appeal prevents immediate suspension for now, but investors should watch for the Nasdaq Hearings Panel outcome and subsequent SEC/Nasdaq filings for definitive next steps. The 8-K also contains the company’s forward-looking caution that there is no guarantee the appeal or any plan will restore compliance.