Financial Performance - Third quarter 2025 net loss was $10.1 million, compared to a net loss of $4.6 million in the same period of 2024[5] - Total revenue for the nine months ended September 30, 2025, was $0, compared to $333,000 for the same period in 2024[17] - Total assets decreased to $31.5 million as of September 30, 2025, from $48.4 million at the end of 2024[14] Expenses - Research and development expenses increased to $2.8 million in Q3 2025 from $2.5 million in Q3 2024[4] - Selling, general and administrative expenses decreased significantly to $2.9 million in Q3 2025 from $7.8 million in Q3 2024[5] Cash Position - Cash and cash equivalents were reported at $4.7 million as of September 30, 2025, down from $20.6 million at the end of 2024[6][14] Funding and Trials - The company closed a private placement on October 20, 2025, with gross proceeds of up to $50 million, including approximately $19 million for FDA submission activities[7] - The FULCRUM-VT trial completed enrollment of 209 patients, demonstrating 97% acute effectiveness with a favorable safety profile[7][9] - The vCLAS™ Cryoablation System is currently under evaluation in the FULCRUM-VT U.S. Pivotal IDE Trial[8] Strategic Focus - The company is focused on advancing its PMA submission for the vCLAS System and preparing for commercialization[3]
Adagio Medical Holdings, Inc.(ADGM) - 2025 Q3 - Quarterly Results