Liminatus Pharma Faces Nasdaq Delisting After Missing Market-Value Thresholds

A timely appeal by May 27 would pause suspension so the company can seek a Nasdaq Hearings Panel review of its plan to regain compliance.

Overview

Nasdaq told Liminatus on May 20 that it had not regained compliance with listing rules after a 180-day cure period that ended May 18.
The exchange cited failure to meet the $50 million market value of listed securities rule and the $15 million publicly held shares threshold under Nasdaq Listing Rule 5450(b)(2).
Unless Liminatus files an appeal by the May 27 deadline, trading is set to be suspended at the open on May 29 and Nasdaq will file a Form 25-NSE to remove the securities from the exchange.
Liminatus says it will request a hearing before the Nasdaq Hearings Panel, and a timely hearing request will stay any suspension or delisting while the panel reviews the company’s case.
Shares have swung sharply since the notice, reflecting investor uncertainty, and the outcome will determine whether holders can trade on Nasdaq or must seek liquidity elsewhere if the listing is removed.