Editor’s Note: This story has been revised to clarify the timing of the announcements.
Liminatus Pharma, Inc. (NASDAQ:LIMN) shares are trending on Wednesday night.
Shares of the California-based immuno-oncology biotechnology company jumped 30.49% to $0.15 in after-hours trading after Liminatus amended and restated its merger agreement with InnocsAI LLC, a cell-therapy developer, on Tuesday.
Revised Structure Fast-Tracks Closing
The company said the revised structure allows the deal to close before obtaining shareholder approval, with closing now expected on Thursday.
Under the amended terms, InnocsAI equity holders will receive a combination of Liminatus common stock, capped at 19.99% of outstanding shares under Nasdaq rules, and non-voting convertible preferred stock. The total consideration is valued at $0.20 per common share, implying a total deal value of about $320 million. Equity holders will also receive contingent value rights worth 20% of future net proceeds from certain strategic transactions.
CEO Chris Kim called the merger a “transformational step” in the company’s strategy to build a diversified oncology biotechnology company.
Trading Metrics, Technical Analysis
Liminatus has a market capitalization of $5.17 million, with a 52-week high of $10.75 and a 52-week low of $0.10.
The Relative Strength Index (RSI) of LIMN stands at 39.97, while short interest is at 2.38%.
Over the past 12 months, the biotech stock has dropped 98.89%.
LIMN is currently positioned close to its annual low.
The stock’s sharp decline and weak positioning point to continued pressure, highlighting elevated risk and the need for clearer signs of recovery before investor confidence can return.
Liminatus had 44.87 million shares of common stock outstanding, as of May 14.
Price Action: According to Benzinga Pro data, LIMN closed the regular session at $0.11, up 3.99%.
Benzinga’s Edge Stock Rankings indicate that LIMN has a negative price trend across all time frames.
Photo Courtesy: Golden Dayz on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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