Liminal BioSciences Inc. - LMNL STOCK NEWS

Liminal BioSciences (NASDAQ: LMNL) announced on April 5, 2023, that its Board received a non-binding acquisition proposal from Structured Alpha LP, offering US$7.50 per share for the outstanding common shares not currently owned by SALP. SALP holds approximately 64.03% of Liminal's shares. The Board has formed a special committee to evaluate the proposal and explore alternatives, with no decisions made yet. Any potential transaction would require a formal valuation and approval from a majority of minority shareholders in compliance with Regulation 61-101. Shareholders are advised not to take action at this time.

Liminal BioSciences (NASDAQ: LMNL) reported its financial results for Q4 and the fiscal year ending December 31, 2022. The firm closed with CAD 37.1 million in cash, providing a runway into early 2024. During Q4, it achieved a net loss of CAD 6.6 million, down from CAD 8.8 million in Q4 2021. The company regained compliance with Nasdaq's minimum bid price requirement and announced the initiation of a Phase 1 trial for LMNL6511 in H2 2023, targeting metabolic and inflammatory diseases. Additionally, a new GPR40 agonist program aimed at treating type 2 diabetes is being developed.

Liminal BioSciences Inc. (Nasdaq: LMNL) announced that it will report its fourth quarter and year-end 2022 financial results on March 15, 2023, after market close. A conference call is scheduled for 8:30 am ET on March 16, 2023 to discuss the results. Liminal is focused on developing novel small molecule therapeutics for inflammatory, fibrotic, and metabolic diseases, with a lead program, LMNL6511, targeting the GPR84 receptor. The company operates in Canada and the United Kingdom.

Liminal BioSciences Inc. (Nasdaq: LMNL) has regained compliance with Nasdaq's minimum bid price requirement, as confirmed in a notice received on February 15, 2023. The company's common stock closed at $1.00 or higher for ten consecutive business days, from February 1 to February 14, 2023. This achievement ensures Liminal BioSciences remains listed on the Nasdaq Capital Market. The company focuses on developing small molecule therapeutics for inflammatory, fibrotic, and metabolic diseases, with its lead program being LMNL6511. It operates in Canada and the United Kingdom, actively pursuing additional development opportunities.

Liminal BioSciences Inc. (Nasdaq: LMNL) announced a reverse stock split effective February 1, 2023, consolidating ten common shares into one. This decision was approved by shareholders on January 20, 2023. The company's trading symbol will remain unchanged. Liminal BioSciences focuses on developing small molecule therapeutics for diseases related to inflammation, fibrosis, and metabolism.

Currently, it is advancing GPR84 and OXER1 antagonists while exploring additional development opportunities. The company operates in Canada and the United Kingdom.

Liminal BioSciences Inc. (Nasdaq: LMNL) announced that CEO Bruce Pritchard will present a company overview at the BIO CEO & Investor Conference on February 7, 2023, at 10:30 am (ET) at the New York Marriott Marquis. The company is a development-stage biopharmaceutical firm focused on creating novel small molecule therapeutics for inflammatory, fibrotic, and metabolic diseases. They are currently advancing GPR84 antagonists and OXER1 antagonists while exploring other opportunities. Liminal operates in Canada and the UK, and is available for meetings through the BIO One-on-One Partnering system.

Liminal BioSciences Inc. (Nasdaq: LMNL) concluded 2022 with over CAD 37 million in cash, supporting operations into early 2024. Plans include divesting non-core assets and advancing two key drug candidates: LMNL6511 for GPR84 antagonism and a lead candidate in the OXER1 program by H1 2023. CEO Bruce Pritchard highlighted the nomination of LMNL6511 as a significant milestone. A special shareholder meeting is set for January 20, 2023, to vote on a proposed share consolidation for NASDAQ compliance.

Liminal BioSciences (LMNL) announced a virtual shareholder meeting on January 20, 2023, to seek approval for a share consolidation of 10 pre-consolidation shares to 1 post-consolidation share. This move aims to meet Nasdaq's minimum bid price requirement of US$1.00 per share, after being notified of non-compliance in March 2022. If approved, the total common shares will reduce from approximately 31 million to about 3.1 million. A failure to comply by February 27, 2023, could lead to delisting from Nasdaq, although the company may appeal. Details will be provided in a proxy statement.

Liminal BioSciences reported its third-quarter financial results for 2022, highlighting $40.8 million in cash and equivalents. The company discontinued the development of fezagepras and terminated a legacy CDMO agreement, saving $33.1 million. The net loss from continuing operations decreased to $4.5 million from $9.7 million year-over-year. Anticipated cash runway extends into Q4 2023, with potential asset sales to support operations into 2024. Executive leadership changes include the appointment of a new CFO and interim Chief Scientific Officer.