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SeaStar Medical Strengthens Financial Position with Elimination of All Long-Term Debt
DENVER, Sept. 04, 2024 (GLOBE NEWSWIRE) -- SeaStar Medical Holding Corporation (Nasdaq: ICU) (SeaStar Medical), a commercial-stage medical device company
About this update from Seastar Medical Holding Corporation
[{"type":"text","content":"DENVER, Sept. 04, 2024 (GLOBE NEWSWIRE) -- SeaStar Medical Holding Corporation (Nasdaq: ICU) (SeaStar Medical), a commercial-stage medical device company developing proprietary solutions to reduce the consequences of hyperinflammation on vital organs, reports that it has now retired all long-term debt, which will be reflected on its balance sheet for the quarter ending September 30, 2024. “At the end of 2023, we reported more than $9 million in convertible notes and long-term interest bearing debt. As of today, we have eliminated this debt,” said Eric Schlorff, SeaStar Medical CEO. “SeaStar Medical is in the strongest financial position since becoming a public company nearly two years ago. Our balance sheet allows us to advance our business plan and enhances our ability to bring potentially life-saving solutions to critically ill patients in need.” About SeaStar MedicalSeaStar Medical is a commercial-stage medical technology company that is redefining how extracorporeal therapies may reduce the consequences of excessive inflammation on vital organs. SeaStar Medical’s novel technologies rely on science and innovation to provide life-saving solutions to critically ill patients. The Company is developing and commercializing cell-directed extracorporeal therapies that target the effector cells that drive systemic inflammation, causing direct tissue damage and secreting a range of pro-inflammatory cytokines that initiate and propagate imbalanced immune responses. For more information visit www.seastarmedical.com or visit us on LinkedIn or X. Forward-Looking StatementsThis press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1955. These forward-looking statements include, without limitation, SeaStar Medical’s expectations with respect to the amount and timing of future QUELIMMUNE commercial sales; commercial acceptance of QUELIMMUNE; the ability of SCD to treat patients with AKI and other diseases; the expected regulatory approval process and timeline for commercialization; and the ability of SeaStar Medical to meet the expected timeline. Words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will...