Adagio Medical shares surge 21.16% intraday after Lake Street initiates Buy rating and $19M funding secured.

Adagio Medical surged 21.16% intraday trading following Lake Street Capital initiating coverage with a Buy rating and announcing a $19 million private placement, with potential for an additional $31 million. The firm also completed recruitment in its pivotal FULCRUM study, a Phase 3 trial involving 207 patients across 19 U.S. and Canadian sites, signaling progress toward regulatory milestones. The combination of a strategic capital raise and clinical trial advancements reinforced investor confidence in the company’s pipeline and operational trajectory.