aibioAdagio Medical gets Nasdaq bid price notice, has until December 9
Tickers ADGM
The company's common stock traded below $1.00 for 30 consecutive business days, and it has 180 calendar days to regain compliance.
Key facts
- Company
- Adagio Medical Holdings, Inc. (NASDAQ: ADGM)
- News type
- Listings
- Primary source
- Adagio Medical Holdings, Inc. 8-K (2026-06-12)
Adagio Medical Holdings, Inc. (Nasdaq: ADGM) received a notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC on June 12, 2026. The notice said the company's common stock was not in compliance with Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market, because the minimum bid price of the stock was less than $1.00 per share for the previous 30 consecutive business days. The company disclosed the notice in a Form 8-K dated June 12, 2026, signed by Deborah Kaster, Chief Financial Officer and Chief Business Officer.
The compliance period
Under Nasdaq Listing Rule 5810(c)(3)(A), the company has a period of 180 calendar days from the date of the notification, or until December 9, 2026, to regain compliance with the minimum bid price requirement. The filing says the notification does not affect the listing of the common stock on The Nasdaq Capital Market at this time, and the stock will continue to trade on that market during the period.
To regain compliance, the bid price must close at or above $1.00 per share for a minimum of ten consecutive trading days before December 9, 2026. Nasdaq would then provide written notification that the company has achieved compliance with the bid price requirement.
What happens if the deadline passes
The 8-K describes a possible second 180-day compliance period. The company would need to provide written notice to Nasdaq that it intends to regain compliance during that second period, by effecting a reverse stock split if necessary. It would also need to meet the continued listing requirement for market value of publicly held shares and the other initial listing standards for The Nasdaq Capital Market, except for the bid price requirement.
If the company does not qualify for the second compliance period, or fails to regain compliance during it, Nasdaq will notify the company that its common stock is subject to delisting.
The company's position
The filing says the company is considering all available options to regain compliance with the listing rule. It adds that there can be no assurance that the company will be able to regain compliance with the rule or will otherwise be in compliance with other Nasdaq listing criteria.
Financial position
The XBRL data in the company's filings show revenue of $0 for the year ended December 31, 2025, compared with $300,000 for 2023. Research and development expense was $10.6 million for 2025, down from $15.4 million for 2023. The net loss was $25.1 million for 2025, compared with $36.6 million for 2023, and cash from operations was negative $19.0 million for 2025.
The filing does not give the company's cash position or runway at the date of the notice.
The risks ahead
The stock has to close at or above $1.00 per share for ten consecutive trading days before December 9, 2026. The company says it is considering all available options and that there can be no assurance it will regain compliance. A second 180-day period is possible only if the company meets the other listing standards and says it will use a reverse stock split if necessary. If it fails, Nasdaq will notify it that the stock is subject to delisting. The company's filings show a net loss of $25.1 million for 2025 and negative cash from operations of $19.0 million, and the 8-K gives no cash position.