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SeaStar Medical Holding Corporation develops and commercializes extracorporeal medical-device therapies for critically ill patients with organ failure driven by hyperinflammation. Its first commercial product, QUELIMMUNE (SCD-PED), is based on the company’s Selective Cytopheretic Device technology and is FDA approved for pediatric acute kidney injury associated with sepsis or a septic condition in patients requiring renal replacement therapy.
Recurring company updates cover QUELIMMUNE adoption by children’s hospitals, SAVE post-approval registry data, publications and conference presentations, and financial results. News also addresses clinical development of SCD therapy in adult acute kidney injury requiring continuous renal replacement therapy and in cardio-renal indications, as well as FDA Breakthrough Device and Humanitarian Device pathways for additional SCD uses.
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SeaStar Medical Holding Corporation (Nasdaq: ICU) has activated its first clinical site, Good Samaritan Regional Medical Center in Oregon, for the pivotal NEUTRALIZE-AKI trial. This trial aims to evaluate the Selective Cytopheretic Device (SCD) therapy's effectiveness for critically ill adults suffering from acute kidney injury (AKI). The SCD, which recently received FDA Breakthrough Device Designation, targets inflammation to potentially reduce mortality and dialysis dependency. The trial anticipates enrolling up to 200 patients across 30 U.S. sites, with primary endpoints focusing on 90-day mortality and dialysis dependency. Previous studies indicated up to 50% reduction in mortality among patients using the SCD, highlighting its promise in improving patient outcomes.
SeaStar Medical Holding Corporation (Nasdaq: ICU) provides an update and financial results for 2022, focusing on its innovative Selective Cytopheretic Device (SCD) for hyperinflammation in acute kidney injury (AKI) patients. The FDA granted Breakthrough Device Designation to the SCD for adult AKI. A pivotal clinical trial, NEUTRALIZE-AKI, aims to enroll 200 patients across 30 sites, with results expected by mid-2025. The company reported a net loss of $23 million, or $2.80 per share, due to increased expenses. Cash reserves decreased to $47,000. The firm anticipates regulatory approval for pediatric AKI and has a partnership with Nuwellis to enhance market presence.
SeaStar Medical Holding Corporation (Nasdaq: ICU) announced a $3.3 million tranche closing of a $9.8 million private placement with a single institutional investor. The investment is structured as a Senior Unsecured Original Issue 8.0% Discount Convertible Note, yielding approximately $3.0 million in proceeds. The Note matures in 15 months and can be converted into stock at an initial price of $2.70. The investor also receives warrants for 328,352 shares at an exercise price of $2.97. Following regulatory conditions, SeaStar may secure additional tranches totaling $8.8 million, aiming to enhance its financial stability and product development efforts.
SeaStar Medical Holding Corporation (Nasdaq: ICU) announced its upcoming presentation at the Emerging Growth Virtual Conference on March 22, 2023, at 2:15 p.m. Eastern time. The event will feature CEO Eric Schlorff and CMO Kevin Chung, outlining the company's innovative solutions aimed at reducing hyperinflammation effects on vital organs. Attendees can register for the presentation and submit questions in advance. Following the event, a replay will be available on the company’s and conference's respective websites. SeaStar Medical focuses on developing proprietary extracorporeal therapies for critically ill patients.