On August 13, 2024, SeaStar Medical Holding Corporation, a medical device company listed on Nasdaq under the symbol ICU, reported its financial results for the second quarter ended June 30, 2024, and provided a business update. The company announced initial commercial sales of its QUELIMMUNE therapy, which has been used to treat two critically ill children. SeaStar Medical is actively working to expand access to this therapy in children's hospitals and plans a commercial rollout in Q4 2024. The company also reported progress in its NEUTRALIZE-AKI clinical trial for adults, with 42 subjects enrolled and additional sites expected to join by September. The trial has received Category B coverage from CMS, which is anticipated to reduce trial costs and accelerate site activation. SeaStar Medical has...Show More

On August 13, 2024, SeaStar Medical Holding Corporation, a medical device company listed on Nasdaq under the symbol ICU, reported its financial results for the second quarter ended June 30, 2024, and provided a business update. The company announced initial commercial sales of its QUELIMMUNE therapy, which has been used to treat two critically ill children. SeaStar Medical is actively working to expand access to this therapy in children's hospitals and plans a commercial rollout in Q4 2024. The company also reported progress in its NEUTRALIZE-AKI clinical trial for adults, with 42 subjects enrolled and additional sites expected to join by September. The trial has received Category B coverage from CMS, which is anticipated to reduce trial costs and accelerate site activation. SeaStar Medical has strengthened its board with three new directors and completed a financing round, raising $10 million to advance its business plan and retire most of its outstanding debt. The company's financial results showed an increase in R&D expenses due to higher clinical trial costs and an increase in G&A expenses due to higher accounting, legal fees, and personnel costs. The net loss for Q2 2024 was $3.2 million, or $1.03 per share, compared to a net loss of $2.4 million, or $4.10 per share in Q2 2023. As of July 31, 2024, the company's cash balance was approximately $6.9 million after reducing debt by $2.7 million.