Adagio Medical Surges After Hours: ADGM Jumps 22% on Cryoablation Update
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Adagio Medical shares surged after the company reported preclinical data suggesting its next-generation cryoablation system could cut ablation time by 50%–75% and save up to 30 minutes per procedure, alongside expectations for FDA approval of its first-generation ULTA system in coming months. The move is idiosyncratic given the firm's micro-cap size and prior 12-month drawdown, implying limited broader market spillover.
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Adagio Medical (ADGM) extended gains in after-hours trading, rising 22% to close at $0.46 after the stock had already advanced more than 21% during the regular session.
The company said preclinical testing of its next-generation cryoablation system indicates ablation time could be reduced by 50%–75%, potentially cutting as much as 30 minutes from a single procedure. Adagio also expects FDA clearance for its first-generation ULTA system in the coming months.
Adagio Medical's market capitalization stands at about $10.17 million. Shares are still down 66.42% over the past year.
