Business
SeaStar Medical Reports Second Quarter 2024 Financial Results and Provides a Business Update
DENVER, Aug. 13, 2024 (GLOBE NEWSWIRE) -- SeaStar Medical Holding Corporation (Nasdaq: ICU) (“SeaStar Medical” or the “Company”), a commercial-stage medical
About this update from Seastar Medical Holding Corporation
[{"type":"text","content":"DENVER, Aug. 13, 2024 (GLOBE NEWSWIRE) -- SeaStar Medical Holding Corporation (Nasdaq: ICU) (“SeaStar Medical” or the “Company”), a commercial-stage medical device company developing proprietary solutions to reduce the consequences of hyperinflammation on vital organs, reports financial results for the three and six months ended June 30, 2024 and provides a business update. “Our recent commercial, clinical and corporate achievements have significantly strengthened our company and support an active and exciting future,” said Eric Schlorff, SeaStar Medical CEO. “Foremost were our initial commercial sales of QUELIMMUNE™, which has already been used to provide potentially life-saving therapy to two severely ill children in the intensive care unit (ICU) with acute kidney injury (AKI) and sepsis. We are working diligently to qualify a select group of prominent children’s hospitals to extend access to this therapy, with a robust commercial rollout planned for the fourth quarter of this year. “With our NEUTRALIZE-AKI pivotal clinical trial in adults, we achieved an important win with the granting of reimbursement to cover certain trial expenses for Medicare and Medicaid patients. This Category B coverage is expected to substantially reduce our overall trial costs and accelerate the activation of new trial sites,” he added. “We’ve now enrolled 42 subjects at nine sites, with additional prominent medical centers poised to come on board before the end of September. Our team is focused on completing this trial and providing access to our therapeutic device to adult AKI patients. Further, the U.S. adult AKI patient population is 50 times larger than the pediatric population, representing a multibillion-dollar opportunity for SeaStar Medical. “Our corporate progress included strengthening our Board with the appointment of three outstanding new directors who bring extensive industry experience to help guide our transition to a commercial organization. We also completed a financing last month, providing much-needed capital to advance our business plan and enabling us to retire nearly all of our outstanding debt,” concluded Mr. Schlorff. SeaStar Medical provides the following updates on its commercial and development programs, and corporate activities: Pediatric Acute Kidney Injury Only about half of the patients in the pediatric ICU with AKI wh...