Adagio Medical (ADGM)
Catheter-based ablation systems for ventricular tachycardia built on ultra-low-temperature technology.
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Develops and sells, where authorized, the vCLAS catheter system for ventricular-tachycardia ablation, built on Ultra-Low Temperature Ablation technology. Its business combines clinical and regulatory development with limited overseas commercialization, while U.S. use remains investigational and its portfolio is concentrated in the vCLAS/ULTA platform family.
Develops catheter-based Ultra-Low Temperature Ablation technology for treating cardiac arrhythmias, with vCLAS as its principal platform for ventricular tachycardia. The system is designed to create deep, durable endocardial lesions without irrigation; sales are limited to Europe and selected authorized markets, while it remains investigational in the United States.
Combines device engineering, preclinical work, clinical studies, regulatory submissions, and selective commercialization. Its current portfolio and main pipeline concentrate in the vCLAS/ULTA family, including the FULCRUM-VT pivotal program, a next-generation catheter, and pulsed-field cryoablation technology.
Depends on U.S. commercial expansion on PMA review, clinical evidence, manufacturing readiness, and physician and hospital adoption against established electrophysiology systems.
Company facts
Categories
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $7.7M · Total debt $26.0M · Total assets $33.9M · Shareholders' equity −$415.0K
- Revenue
- $0
- Operating income
- −$4.9M
- Net income
- −$6.7M
No dividends on record.
| Institutions23 holders · as of Mar 31, 2026 | 70.50% | 15.66M shares | |
| Insiders2 holders · as of Dec 18, 2025 | 1.00% | 222.3K shares | |
| Otherremainder | 28.50% | 6.33M shares |
22.21M company shares as of Sep 3, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Perceptive Advisors LLCInstitution | 44.47% | 9.88M | 13Fas of Mar 31, 2026 |
Sio Capital Management, LLCInstitution | 5.80% | 1.29M | 13Fas of Mar 31, 2026 |
Adage Capital Partners GP, L.L.C.Institution | 5.67% | 1.26M | 13Fas of Mar 31, 2026 |
Adage Capital Management, L.P.Institution | 5.67% | 1.26M | 13Gfiled May 13, 2026 ↗ |
Adar1 Capital Management, LLCInstitution | 5.43% | 1.21M | 13Fas of Mar 31, 2026 |
| See all 25 → | |||
13F — a manager's quarterly holdings · 13D/13G — an ownership statement filed at 5% or more
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Dec 16, 2025 | Deborah Kaster | officer: Chief Financial Officer | +15,000 | $1.20 |
| Dec 12, 2025 | Todd Usen | director, officer: Chief Executive Officer | +207,315 | $1.09 |
| Oct 20, 2025 | Perceptive Advisors LLC | director, 10 percent owner: | +6,225,493 | $1.11 |
- Johnson & Johnson
Leading EP-platform rival in catheter ablation and lab workflow.
- Boston Scientific
Broad EP-system rival across RF, mapping, and pulsed-field ablation.
- Medtronic
Large cryo and pulsed-field ablation rival in EP laboratories.
- Abbott
Established EP rival in mapping-guided catheter ablation workflows.
- AtriCure
Specialist surgical and hybrid ablation rival with narrower overlap.
ComparePre-market
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Adagio Medical | $0.5250 | −1.74% | $11.8M | — | — | — | — |
| Johnson & Johnson | $276.00 | +0.28% | $663.23B | 31.9 | 23.1 | 6.8 | +6.6% |
| Boston Scientific | $48.71 | +0.69% | $71.90B | 19.7 | 14.6 | 3.4 | +7.5% |
| Medtronic | $93.39 | +1.29% | $118.00B | 22.7 | 15.3 | 3.1 | +13.7% |
| Abbott | $110.47 | +0.01% | $191.19B | 35.5 | 19.0 | 4.1 | +13.0% |
| AtriCure | $53.00 | +0.72% | $2.68B | 247.8 | 351.4 | 4.7 | +12.8% |
| Median | 31.9 | 19.0 | 4.1 | +12.8% |