Quarterly ResultMay 12, 2026, 08:12 AM
Adagio Medical Reports $7.0M Net Loss; Raises Going Concern Doubt
AI Summary
Adagio Medical Holdings, Inc. reported a net loss of $7.0 million for the three months ended March 31, 2026, an improvement from a $7.7 million net loss in the prior year period. The company generated no revenue in either period. Adagio Medical also disclosed substantial doubt about its ability to continue as a going concern, with current cash expected to fund operations only into Q3 2026. The company is pursuing regulatory approvals and cost-cutting measures to mitigate this uncertainty.
Key Highlights
- Adagio Medical raised substantial doubt about its ability to continue as a going concern.
- Cash and cash equivalents are expected to fund operations only into Q3 2026.
- Net loss for Q1 2026 was $7.0 million, an improvement from $7.7 million in Q1 2025.
- Basic net loss per share was $(0.31) in Q1 2026, compared to $(0.50) in Q1 2025.
- Cash and cash equivalents decreased to $12.9 million as of March 31, 2026, from $17.1 million.
- Net cash used in operating activities was $4.1 million in Q1 2026, an improvement from $7.2 million.
- Accumulated deficit increased to $102.6 million as of March 31, 2026.
- FULCRUM-VT U.S. IDE Pivotal Study completed enrollment in October 2025.