Welcome to our dedicated page for SeaStar Medical Holding Corporation news (Ticker: ICU), a resource for investors and traders seeking the latest updates and insights on SeaStar Medical Holding Corporation stock.
SeaStar Medical Holding Corporation (ICU) is a pioneering medical technology firm focused on developing proprietary solutions to mitigate the adverse effects of hyperinflammation on vital organs. The company specializes in creating and commercializing extracorporeal therapies that specifically target effector cells responsible for systemic inflammation. This inflammation often leads to direct tissue damage and the secretion of pro-inflammatory cytokines, which can trigger and sustain imbalanced immune responses.
SeaStar Medical's core business revolves around innovative treatments designed to alleviate the intense inflammatory responses seen in various medical conditions. Their primary product offerings include advanced renal therapy systems that aim to reduce the impact of cytokine storms, often observed in severe cases of infections and autoimmune diseases.
One of the company’s notable achievements includes successful clinical trials that have demonstrated the efficacy of their therapies in reducing inflammation and improving patient outcomes. SeaStar Medical is currently engaged in several research and development projects to expand the application of their therapies across multiple medical disciplines.
Financially, SeaStar Medical Holding Corp is well-positioned, with strategic partnerships that enhance their research capabilities and product distribution. The company is committed to advancing its technology through continuous innovation and maintaining strong relationships with healthcare providers and patients.
For investors and stakeholders, SeaStar Medical represents a promising opportunity in the medical technology sector, with a focus on addressing critical health challenges through cutting-edge science and compassionate care.
SeaStar Medical, a commercial-stage medical device company listed on Nasdaq as ICU, will present at the Virtual Emerging Growth Conference on June 12, 2024. CEO Eric Schlorff will conduct a fireside chat at 12:35 p.m. Eastern time to provide an overview of the company and its Selective Cytopheretic Device (SCD). The chat will also discuss recent company updates. Investors can submit questions in advance or attend the live event. An archived webcast will be available 48 hours post-event on SeaStar Medical's website.
SeaStar Medical Holding (Nasdaq: ICU) announced a 25-for-1 reverse stock split, effective June 7, 2024, at 5:00 PM EDT. The common stock will trade on a split-adjusted basis starting June 10, 2024, under the same ticker symbol 'ICU' but with a new CUSIP number 81256L203. This move aims to increase the market price of the stock to meet Nasdaq's $1.00 minimum bid price requirement. Each 25 pre-split shares will convert to 1 post-split share, and fractional shares will be rounded up to the nearest whole share. Shareholders of record will receive updates from Continental Stock Transfer and Trust Company.
SeaStar Medical Holding (Nasdaq: ICU) announced the publication of a manuscript in Transplantation Direct reviewing four case studies involving their Selective Cytopheretic Device (SCD). The device demonstrated effectiveness in stabilizing and improving the clinical status of critically ill patients aged 22 months to 71 years, suffering from multiorgan failure. These patients subsequently became eligible for stem cell or liver transplants or left ventricular assist device implantation. The study highlights SCD's potential in mitigating hyperinflammation and aiding organ recovery without causing serious adverse events. The company aims to further investigate SCD's benefits through additional clinical studies and secure market approvals.
SeaStar Medical Holding (Nasdaq: ICU) reported its Q1 2024 financial results and provided a business update. The company anticipates initial sales of Quelimmune™ Pediatric for addressing acute kidney injury (AKI) and sepsis in children in the coming weeks, targeting a U.S. pediatric AKI patient population estimated at 4,000 annually. The company has enrolled 31 subjects in its NEUTRALIZE-AKI trial for its Selective Cytopheretic Device Adult (SCD-ADULT) for adult AKI patients. SeaStar eliminated senior secured debt, ending Q1 with $5 million in cash. R&D expenses remained steady at $1.7 million, while G&A expenses decreased to $2.3 million. However, a significant net loss of $12.7 million was reported, largely due to non-cash losses from derivative financial instruments. The company also received several Breakthrough Device Designations for its SCD technology across various conditions.
SeaStar Medical Holding (Nasdaq: ICU) has been awarded a $3.6 million NIH grant for a clinical trial to evaluate the Selective Cytopheretic Device Adult (SCD-ADULT) in patients with severe chronic heart failure (CHF). The grant aims to study SCD-ADULT as a bridging strategy to left ventricular assist device (LVAD) implantation in patients with acute decompensated heart failure (ADHF). The company hopes this study will pave the way for FDA approval.
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