logo
Liminatus Pharma, Inc. Initiates Strategic Review of Blockchain-Integrated Treasury Strategy

Liminatus Pharma, Inc. Initiates Strategic Review of Blockchain-Integrated Treasury Strategy

Globe and Mail22-07-2025
LA PALMA, Calif., July 22, 2025 (GLOBE NEWSWIRE) -- Liminatus Pharma, Inc. (NASDAQ: LIMN), a preclinical-stage biopharmaceutical company dedicated to the development of targeted cancer immunotherapies, today announced that it has initiated a strategic review to evaluate the potential inclusion of regulated digital asset strategies as part of its broader treasury management framework.
This internal review is part of Liminatus's continued commitment to strong financial stewardship and balance sheet optimization. While its core focus remains firmly on advancing cancer therapies, the Company believes it is prudent to assess innovative financial instruments—including blockchain-based assets—that may enhance treasury efficiency and diversify non-operating capital reserves.
'Liminatus remains fully committed to our mission of developing life-changing cancer therapies,' said Chris Kim, CEO of Liminatus Pharma, Inc. 'At the same time, we believe responsible treasury management is essential to supporting our long-term goals. This review is not a shift in our business focus, but an effort to evaluate modern financial tools—such as regulated digital assets—that may enhance the way we manage non-operating capital.'
Liminatus emphasizes that this is an exploratory process only. As of today, the Company has not entered into any agreements regarding the acquisition, custody, or use of digital assets. Any potential future steps would be subject to approval by the Board of Directors and undertaken in full alignment with U.S. Securities and Exchange Commission (SEC) regulations and public company disclosure standards.
About Liminatus Pharma, Inc.
Liminatus is a preclinical-stage biopharmaceutical company developing immunotherapies for patients with cancer. The Company is advancing a pipeline of novel therapies targeting cancer antigens and tumor-specific immune responses. Liminatus is also committed to responsible innovation in capital strategy to support its long-term scientific and operational objectives.
Forward-Looking Statements
Certain statements in this press release constitute forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding management's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intends,' 'may,' 'might,' 'plan,' 'possible,' 'potential,' 'predict,' 'project,' 'should,' 'will,' 'would' and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects. Future developments affecting Liminatus may not be those that Liminatus has anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of Liminatus), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Liminatus undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.
In addition, statements that 'we believe' and similar statements reflect beliefs and opinions on the relevant subject. These statements are based upon information available to Liminatus as of the date of this press release, and while Liminatus believes such information forms a reasonable basis for such statements, such information may be limited or incomplete, and such statements should not be read to indicate that Liminatus has conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements as predictions of future results. Liminatus's actual future results may be materially different from what it expects. Liminatus qualifies all forward-looking statements by these cautionary statements.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

PBF Energy (PBF) Q2 Revenue Falls 14%
PBF Energy (PBF) Q2 Revenue Falls 14%

Globe and Mail

time18 minutes ago

  • Globe and Mail

PBF Energy (PBF) Q2 Revenue Falls 14%

Key Points Non-GAAP earnings per share of $(1.03) in Q2 2025 topped analyst estimates by $0.23 despite a wider loss from the prior year. Revenue of $7.47 billion exceeded expectations but declined 14.4% from $8.74 billion in GAAP revenue in Q2 2024. Martinez refinery continued only partial operations due to fire recovery, skewing performance while insurance recoveries buffered headline results. These 10 stocks could mint the next wave of millionaires › PBF Energy (NYSE:PBF), an independent petroleum refiner and supplier of transportation fuels, released its second quarter 2025 earnings on July 31, 2025. The report highlighted a mixed quarter: non-GAAP earnings per share were $(1.03), better than the analyst consensus non-GAAP loss of $(1.26), and revenue was $7.48 billion, beating estimates by more than $500 million. Still, both earnings and revenue were down from the prior year, with revenue declined 14.4% year over year. The quarter was shaped by the continued partial shutdown of the Martinez refinery and operational headwinds, with insurance proceeds from the Martinez incident softening the impact of operating losses. Overall, results beat analyst estimates, but the company's core profitability remained negative after adjusting for insurance and other special items. Metric Q2 2025 Q2 2025 Estimate Q2 2024 Y/Y Change EPS (Non-GAAP) $(1.03) $(1.26) $(0.54) (90.7 % decrease) Revenue (GAAP) $7.47 billion $6.97 billion $8.74 billion (14.4 %) Income from Operations (GAAP) $43.0 million $(74.6) million NM EBITDA (Non-GAAP) $51.8 million $86.2 million (39.9%) Gross Refining Margin per Barrel (Non-GAAP) $8.38 $8.12 3.2% Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in Q1 2025 earnings report. Company Overview and Key Priorities PBF Energy (NYSE:PBF) operates six petroleum refineries across the United States, with a combined processing capacity near 1 million barrels per day as of December 31, 2024. Its operations produce gasoline, diesel, jet fuel, and other refined products. A central competitive factor is the Nelson Complexity Index—a measure of a refinery's ability to upgrade lower-cost crude into high-value products. PBF's average complexity is high, providing flexibility and resilience through changing market cycles. The company's recent focus has centered on operational efficiency, cost containment, maintaining safe and reliable operations, and restoring damaged assets. Key priorities include managing the cost of regulatory compliance, improving operating expenses, and deploying the Refining Business Improvement (RBI) initiative that aims to identify and capture over $200 million in annualized run-rate savings. Effective management of feedstock supply and logistics is also critical for sustainability. Quarter in Review: Performance Drivers and Challenges This quarter was defined by ongoing fallout from the Martinez refinery fire that occurred earlier in 2025. Production averaged 845,800 barrels per day, down from 926,700 barrels per day in the same quarter last year. The Martinez facility operated at limited capacity in the 85,000–105,000 barrels per day range as repairs advanced, restricting West Coast system throughput. West Coast throughput dropped sharply year over year, landing at 203,500 barrels per day compared to 296,700 barrels per day in Q2 2024, while gross margin per barrel in that region swung from a positive $0.34 in Q2 2024 to a negative $(9.54) (GAAP basis) due to both the outage and higher compliance costs. System-wide, the gross refining margin per barrel was $8.38, but GAAP gross margin was negative, reflecting the heavy effect of Martinez-related charges. Operational expense per barrel increased to $7.96 from $6.94 in Q2 2024, with West Coast expenses especially elevated at $15.73 per barrel. Despite these pressures, an insurance recovery payment of $250 million helped offset Martinez losses in the reported results. Management expects full Martinez operations to be restored by year-end 2025, depending on regulatory and supply chain timelines. Market dynamics continued to challenge overall performance. The Brent crude oil price averaged $67.70 per barrel (down from $85.02 in Q2 2024), but narrow light-heavy crude price differentials eroded potential cost advantages for complex refineries like PBF's. The proportion of heavy crude processed fell to 25%, limiting feedstock flexibility. Meanwhile, Renewable Identification Number (RIN) costs—an environmental compliance expense tied to U.S. renewable fuel requirements—jumped from $3.38 to $6.14 per barrel-equivalent year over year, significantly inflating compliance costs, especially for California operations facing strict state rules. Supply and market conditions are also shifting. California faces a shrinking in-state supply as additional refinery closures approach, with management projecting the need to import over 250,000 barrels per day of gasoline to meet demand by next year. PBF's refineries, including Martinez once full production resumes, are expected to remain essential suppliers to that market. The Logistics segment delivered stable revenue of $98 million, and PBF sold two non-core terminals for $175 million—a transaction at more than 10 times EBITDA, according to management, with the sale agreement announced April 30, 2025. Notably, these terminal sales will not disrupt refining operations, as access is maintained through long-term contracts. The Renewable Diesel segment, operated in a joint venture with St. Bernard Renewables (SBR), produced an average of 14,200 barrels per day of renewable diesel—a biofuel made from fats and oils. Management guided for further growth in the next period. Despite management expecting improved margins as higher RIN prices support the economics of renewable diesel going forward. Balance sheet pressures persisted as reduced free cash flow and insurance-timing differences drove up total debt to $2.39 billion as of June 30, 2025, compared with $1.46 billion as of December 31, 2024. The total debt to capitalization ratio rose to 31% as of Q2 2025 from 20% as of Q4 2024, and net debt to capitalization increased to 26% as of June 30, 2025. Working capital outflows and Martinez-related expenses weighed on cash flow, but insurance recoveries and terminal sale proceeds should support liquidity in coming quarters. The company maintained its quarterly dividend at $0.275 per share, unchanged despite recent losses. Looking Ahead: Guidance and Investor Considerations For Q3 2025, management forecasts throughput of 865,000–915,000 barrels per day, up from 839,100 barrels per day in Q2 2025 but still trailing last year's levels. The company reaffirmed full-year 2025 capital expenditure guidance at $750–775 million, excluding Martinez repairs, which will be completed under insurance coverage. PBF expects the benefits of its cost-saving RBI initiative to accelerate into 2026, targeting over $350 million in run-rate savings by year-end 2026. No additional formal forward earnings guidance was issued for fiscal 2025. Management noted ongoing market volatility, particularly in crude spreads and regulatory costs, as key watch points for future quarters. Delays or added regulatory burdens could continue to constrain performance, particularly on the West Coast. Full reliance on insurance proceeds for Martinez recovery and successful execution of cost initiatives are central to management's current strategy. PBF does pay a dividend. The quarterly dividend was maintained at $0.275 per share, unchanged from previous quarters. Revenue and net income presented using U.S. generally accepted accounting principles (GAAP) unless otherwise noted. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 1,049%* — a market-crushing outperformance compared to 182% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. *Stock Advisor returns as of July 29, 2025

Newmont Corporation Announces Sale of Holdings of Orosur Mining Inc.
Newmont Corporation Announces Sale of Holdings of Orosur Mining Inc.

National Post

timean hour ago

  • National Post

Newmont Corporation Announces Sale of Holdings of Orosur Mining Inc.

This advertisement has not loaded yet, but your article continues below. DENVER — Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) ('Newmont') announced today the sale of common shares ('Common Shares') of Orosur Mining Inc. (the 'Issuer'). THIS CONTENT IS RESERVED FOR SUBSCRIBERS Enjoy the latest local, national and international news. Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events. Unlimited online access to National Post. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles including the New York Times Crossword. Support local journalism. SUBSCRIBE FOR MORE ARTICLES Enjoy the latest local, national and international news. Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events. Unlimited online access to National Post. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors On July 31, 2025, Newmont disposed of 29,213,186 Common Shares in a private transaction, at a price of C$0.19 per Common Share, for aggregate gross proceeds of C$5,550,505.34 (the 'Disposition'). Immediately prior to the Disposition, Newmont held 29,213,186 Common Shares. As a result of dilution following certain distributions of Common Shares by the Issuer, Newmont's holdings immediately prior to the Disposition represented approximately 9.4% of the issued and outstanding Common Shares on a non-diluted basis. As a result of this Disposition, Newmont no longer holds any Common Shares of the Issuer. The Common Shares disposed of were sold for investment purposes. Newmont may, depending on price, market conditions or other conditions or factors it considers relevant from time to time, increase its beneficial ownership, control or direction over Common Shares or other securities of the Issuer through market transactions, private agreements or otherwise. The address of Newmont is located at 6900 E Layton Avenue, Suite 700, Denver, Colorado 80237. Newmont is the world's leading gold company and a producer of copper, zinc, lead, and silver. The Company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the Company has been publicly traded since 1925. At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to Cautionary Statement Regarding Forward-Looking Statements This release contains 'forward-looking statements' within the meaning of applicable securities laws that are intended to be covered by the safe harbors created by Section 27A of the U.S. Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and other securities legislation, including statements that use forward-looking terminology such as 'may', 'will', 'expect', 'anticipate', 'potential' or other variations thereof or comparable terminology. Such forward-looking statements may include, without limitation, statements regarding future investments in Orosur. Forward-looking statements are subject to other factors that could cause actual results to differ materially from expected results. Investors should not place undue reliance on forward-looking statements. A number of factors that could cause actual results to differ materially from any forward-looking statement. For a discussion of such risks relating to Newmont's business and other factors, see its most recent Form 10-K, filed with the Securities and Exchange Commission under the headings 'Risk Factors' and 'Forward-Looking Statements.' Newmont does not undertake any obligation to release publicly revisions to any forward-looking statement to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at investors' own risk. View source version on Media Contact – Global Shannon Brushe globalcommunications@ Investor Contact – Global Neil Backhouse Investor Contact – Asia Pacific Natalie Worley This advertisement has not loaded yet.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store