Adagio Medical Holdings, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2025, reporting a net loss of $3.3 million for Q4 2025 and $25.1 million for the full year, alongside key business updates including the completion of enrollment in its FULCRUM-VT pivotal trial and a private placement raising up to $50 million.
Key takeaways
Reported Q4 2025 net loss of $3.3 million, significantly reduced from a $57.4 million net loss in Q4 2024.
Reported full year 2025 net loss of $25.1 million, reduced from a $75.0 million net loss in 2024.
Completed enrollment of the 209-patient FULCRUM-VT pivotal FDA IDE trial for the vCLAS™ System.
Closed a private placement with gross proceeds of up to $50 million, with upfront proceeds of approximately $19 million.
Appointed Sean Salmon to the Board of Directors and strengthened the executive leadership team with two new Senior Vice Presidents.
Cash and cash equivalents were $17.1 million as of December 31, 2025.