Monitor for capital raise announcements or warrant exercises to extend runway. The PMA submission is a key catalyst, but FDA review timeline is uncertain. The stock is likely to remain under pressure from cash concerns.
Price Chart
Executive Summary
Adagio Medical reported Q2 2026 results with a net loss of $6.7M ($0.30/share), wider than the $3.9M loss a year ago, but beating the $0.38 consensus estimate. Cash and cash equivalents fell to $7.7M from $17.1M at year-end 2025, and stockholders' equity turned negative at -$415k, highlighting acute cash burn. The company submitted its PMA application for the vCLAS Ventricular Ablation System and treated the first patient with the next-generation vCLAS Ultra catheter, but the deteriorating cash position overshadows these clinical milestones.
Key Financial Metrics
Key Facts
- Net loss widened to $6.7M in Q2 2026 from $3.9M in Q2 2025
- Cash and cash equivalents dropped to $7.7M from $17.1M at Dec 2025
- Stockholders' equity turned negative to -$415k
- EPS of -$0.30 beat consensus of -$0.38 (21% beat)
- PMA application submitted to FDA for vCLAS Ventricular Ablation System
- First patient treated with next-generation vCLAS Ultra catheter under FDA Expanded Access
Financial Impact
Cash burn of ~$9.4M in 6 months; at current rate, runway is less than 2 quarters without additional financing
Risk Factors
- Cash runway insufficient to fund operations beyond Q3 2026 without new financing
- FDA PMA approval uncertain and may take 12+ months
- Negative stockholders' equity may trigger Nasdaq listing compliance issues
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-093791 |
| Document: tm2622801d1_8k.htm | 0001104659-26-093791 |
| Document: 0001104659-26-093791-index-headers.html | 0001104659-26-093791 |
| Document: 0001104659-26-093791-index.html | 0001104659-26-093791 |
| Document: 0001104659-26-093791.txt | 0001104659-26-093791 |
| 8-K Data (Synthetic) | 0001104659-26-093791 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 14d ago | DEF 14A | $0.1253 $0.1208 | ▼ −3.59% | ▼ −2.44% | $0.1000 (−20.19%) |
Oct 1, 2026 26d ago | 8-K | $0.1531 $0.1300 | ▲ +15.09% | ▲ +16.25% | $0.1000 (+34.68%) |
Sep 23, 2026 4w ago | 8-K | $0.2280 $0.1530 | ▲ +32.89% | ▲ +32.22% | $0.1000 (+56.14%) |
Aug 11, 2026 11w ago | 8-K | $0.7190 $0.6460 | ▲ +10.15% | ▲ +9.75% | $0.1000 (+86.09%) |
Jul 13, 2026 15w ago | 10-K/A | $0.5710 $0.5300 | ▼ −7.18% | ▼ −6.40% | $0.1000 (−82.49%) |
May 21, 2026 22w ago | 8-K | $0.8410 $0.7699 | ▼ −8.45% | ▼ −10.13% | $0.1000 (−88.11%) |
May 12, 2026 24w ago | 8-K | $0.9230 $0.8830 | ▼ −4.33% | ▼ −4.41% | $0.1000 (−89.17%) |
Apr 27, 2026 26w ago | 8-K | $1.15 $0.9410 | ▼ −18.17% | ▼ −18.57% | $0.1000 (−91.30%) |
Apr 8, 2026 28w ago | 8-K | $1.41 $1.43 | ▲ +1.42% | ▼ −2.10% | $0.1000 (−92.91%) |
Apr 6, 2026 29w ago | EFFECT | $1.25 $1.33 | ▼ −6.40% | ▼ −2.27% | $0.1000 (+92.00%) |
US Market Status
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