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LAGUNA HILLS, Calif. - Adagio Medical Holdings, Inc. (Nasdaq:ADGM) announced Monday that Chief Business Officer Deborah Kaster will take on the additional role of Chief Financial Officer, effective September 5, 2025. The micro-cap medical device company, currently valued at $24.3 million, faces significant financial challenges with a negative EBITDA of $30.3 million in the last twelve months.
Kaster replaces Dan George, who had served as interim CFO since April 2025. In her expanded position, she will continue to oversee business development, corporate strategy and investor relations while assuming responsibility for the company’s financial operations, including accounting, treasury, and financial planning. According to InvestingPro data, the company maintains a healthy current ratio of 2.5, indicating sufficient liquid assets to meet short-term obligations despite ongoing operational challenges.
"Expanding her role to include CFO reflects our confidence in Debbie’s deep financial expertise and proven leadership," said Todd Usen, Chief Executive Officer of Adagio Medical, in a press release statement.
Kaster, who joined Adagio four months ago, will continue to report to Usen. The company stated that integrating business and financial functions aims to enhance agility as the company executes its growth strategy.
Adagio Medical specializes in developing catheter-based Ultra-Low Temperature Cryoablation technology for treating cardiac arrhythmias. The company’s current focus is on the treatment of ventricular tachycardia with its vCLAS Cryoablation System, which has received CE Mark approval in Europe but remains limited to investigational use in the United States. Financial metrics from InvestingPro reveal significant challenges, including a negative gross profit margin and rapid cash burn rate. Subscribers can access 8 additional ProTips and comprehensive financial analysis through the platform.
The company is conducting the FULCRUM-VT study, a clinical trial enrolling 206 patients with structural heart disease, to support an application for FDA premarket approval of its cryoablation system. With annual revenue of just $320,000 and the next earnings report due on November 13, 2025, investors can track the company’s progress using InvestingPro’s comprehensive financial health monitoring tools.
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