Summary by Futu AI
SeaStar Medical, a medical technology company, reported a net loss of $12.7 million for the first quarter ended March 31, 2024, compared to a net loss of $7.1 million for the same period in 2023. The company's net loss per share increased to $0.54 from $0.19 year-over-year. Despite the increased net loss, SeaStar Medical's cash position improved, with cash reserves of $5.0 million as of March 31, 2024, up from $0.2 million at the end of 2023. The company has not generated revenue from commercialized products to date but received Humanitarian Device Exemption (HDE) approval from the FDA for its pediatric Selective Cytopheretic Device (SCD) in February 2024 and anticipates commercialization in the near term. SeaStar Medical's research and development expenses slightly decreased by 2% to $1.7 million, reflecting a...Show More