Liminatus Pharma Inc. Class A Common Stock (LIMN)

FairStock Score: 17/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Buffett/Graham investor, I look for understandable, profitable businesses with durable advantages and conservative finances. Liminatus fails most of those tests today. It is a clinical-stage biotech with one Phase I antibody candidate and one employee, so its value rests on future trial data, not current earnings. Filed figures show no revenue. Net losses were $3.5 million in fiscal year 2024, ended 2024-12-31, and widened to $10.2 million in fiscal year 2025, ended 2025-12-31. In fiscal Q1 2026, ended 2026-03-31, net loss was $1.1 million; in fiscal Q2 2026, ended 2026-06-30, net loss was $1.4 million. The lone positive in the filings was fiscal Q2 2025, ended 2025-06-30, when net income was $113,287, but that is not recurring so far. Free cash flow is negative $4.0 million on a trailing basis, and the FairStock calculation shows a -1.7% FCF yield. Debt/equity is 4.80, while Piotroski is 2/9, suggesting weak financial quality. Altman Z of 27.38 looks high, but for an early-stage biotech it may not signal operating strength. Valuation is hard: FairStock's P/E is -0.15 and P/B is 12.63 as of the 2026-10-13 close, while the FairStock score is 17/100. There is no durable moat I can identify—only IP and trial progress. The shares ranged from $0.09 to $7.50 in the past year, showing extreme speculation. I cannot call this cheap on Graham principles; it is a lottery-like clinical bet with real dilution and failure risk.

In plain English: Liminatus Pharma is an early-stage cancer drug company with no reported revenue and one main antibody treatment in early human testing. The business looks weak financially: it lost money in fiscal 2025 and recent quarters, and its cash flow is negative. At $3.41 on 2026-10-13, the price looks expensive relative to its current financial results, so the stock is highly speculative.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer