SeaStar Medical Holding Corp ICU
We are a commercial-stage healthcare company focused on transformational treatments for critically ill patients facing organ failure and potential loss of life. Our Selective Cytopheretic Device ("SCD") is designed as a disease-modifying device that neutralizes over-active immune cells and stops the cytokine storm that yields destructive hyperinflammation and creates a cascade of events that wreak havoc in the patient's body. It has broad potential applications for patients suffering from both acute and chronic kidney disease as well as cardiovascular and other serious inflammatory diseases.
We received Food and Drug Administration ("FDA") approval on February 21, 2024, under a Humanitarian Device Exemption ("HDE") for our pediatric SCD therapy. It is the only FDA approved product for use in pediatric patients with acute kidney injury ("AKI") due to sepsis or a septic condition requiring kidney replacement therapy. We shipped our first commercial pediatric SCD ("QUELIMMUNE") in July 2024. In addition, we are currently conducting a pivotal clinical trial, also referred to as "NEUTRALIZE-AKI" to assess the safety and efficacy of the SCD therapy in critically ill adult patients with AKI requiring continuous renal replacement therapy ("CRRT"). We are also conducting a feasibility study of the SCD therapy in adult patients with Cardiorenal Syndrome ("CRS") awaiting left ventricular assist device ("LVAD") implantation.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.2M | $135.0K | $0 | — | — | — |
| Cost of revenue | $53.0K | $0 | $0 | — | — | — |
| Gross profit | $1.2M | $135.0K | $0 | — | — | — |
| R&D | $7.5M | $9.1M | $6.0M | $2.5M | $2.8M | — |
| SG&A | $5.8M | $8.9M | $8.2M | $6.9M | $1.7M | — |
| Total operating expenses | $13.4M | $18.0M | $14.2M | $11.6M | $4.4M | — |
| Operating income | -$12.2M | -$17.8M | -$14.2M | -$11.6M | -$4.4M | — |
| Interest expense | $31.0K | $244.0K | $1.1M | $630.0K | $212.0K | — |
| Pre-tax income | -$12.1M | -$24.8M | -$26.2M | -$12.2M | -$4.6M | — |
| Income tax | $3.0K | $3.0K | $0 | $1.0K | $1.0K | — |
| Net income | -$12.2M | -$24.8M | -$26.2M | -$12.2M | -$4.6M | — |
| EPS, basic | -5.86 | -66.33 | -30.26 | -1.48 | -0.63 | — |
| EPS, diluted | — | -6.63 | -30.26 | -1.48 | -0.63 | — |
| Shares, diluted (wtd. avg.) | 2.1M | 374,356 | 866,813 | 8.2M | 7.2M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | — | $1.8M | $176.0K | $47.0K | $510.0K | $2.8M |
| Receivables | $237.0K | $112.0K | $0 | — | — | — |
| Inventory | $66.0K | $0 | — | — | — | — |
| Total current assets | $13.6M | $3.8M | $2.3M | $1.5M | $601.0K | — |
| Total assets | $14.2M | $4.7M | $3.5M | $3.0M | $603.0K | $269.2K |
| Accounts payable | $948.0K | $3.0M | $4.4M | $1.9M | $85.0K | $123.0K |
| Short-term debt | — | $574.0K | $565.0K | $1.2M | — | — |
| Total current liabilities | $3.7M | $6.8M | $13.0M | $16.1M | $3.1M | $249.4K |
| Long-term debt | — | — | $4.1M | $7.7M | — | — |
| Total liabilities | $3.7M | $6.8M | $17.4M | $23.8M | $3.4M | $249.4K |
| Retained earnings | -$151.7M | -$139.6M | -$114.7M | -$88.5M | -$76.3M | -$5.2K |
| Total equity | $10.4M | -$2.2M | -$13.9M | -$20.8M | -$2.8M | $1.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$13.6M | -$16.0M | -$10.3M | -$7.8M | -$5.1M | — |
| Stock-based compensation | $624.0K | $887.0K | $1.9M | $1.3M | — | — |
| Investing cash flow | — | — | — | — | -$105.6M | — |
| Financing cash flow | $23.8M | $17.6M | $10.4M | $7.3M | $2.8M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-009797.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | $0 | $135.0K | $1.2M |
| Gross profit | — | — | — | $0 | $135.0K | $1.2M |
| Net income | — | -$4.6M | -$12.2M | -$26.2M | -$24.8M | -$12.2M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Officer or director change Item 5.02
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Other event Item 8.01
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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