Pre-clinical stage immuno-oncology company Liminatus Pharma Inc (NASDAQ:LIMN) announced on Tuesday the pricing of its best-efforts public offering of 13,813,000 shares of its common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 20,719,500 shares of common stock, at a combined public offering price of USD0.29 per share (or USD0.2899 per pre-funded warrant) and accompanying warrants.

The warrants will have an exercise price of USD0.29 per share, will be exercisable immediately upon issuance, and will expire on the fifth anniversary of the original issuance date. Subject to the satisfaction of customary closing conditions, the offering is expected to close on or about 18 February 2026.

Gross proceeds, before deducting placement agent fees and other estimated offering expenses, are expected to be approximately USD4.0m. Potential additional gross proceeds to the company from the exercise of the warrants, if fully exercised on a cash basis, would be approximately USD6.0m. Liminatus noted that no assurance can be given that any warrants will be exercised.

The company intends to use the net proceeds from the offering to fund working capital requirements, general corporate purposes and the advancement of its business objectives.

Maxim Group LLC is acting as sole placement agent in connection with this offering.