SeaStar Medical, a commercial stage medical technology company, reported a net loss of $4.5 million for the third quarter ended September 30, 2024, a decrease from the $7.2 million net loss in the same period the previous year. The basic and diluted net loss per share was $1.10, compared to $9.02 in 2023. The company's net losses for the nine months ended September 30, 2024, were $20.4 million, up from $16.8 million in the prior year. SeaStar Medical's revenue for the quarter was $68 thousand, stemming from the commercial sales of its pediatric Selective Cytopheretic Device (SCD), which received FDA approval under a Humanitarian Device Exemption in February 2024. The company also raised approximately $2.0 million through an At-the-Market offering after September 30, 2024. SeaStar Medical's research and development expenses increased...Show More

SeaStar Medical, a commercial stage medical technology company, reported a net loss of $4.5 million for the third quarter ended September 30, 2024, a decrease from the $7.2 million net loss in the same period the previous year. The basic and diluted net loss per share was $1.10, compared to $9.02 in 2023. The company's net losses for the nine months ended September 30, 2024, were $20.4 million, up from $16.8 million in the prior year. SeaStar Medical's revenue for the quarter was $68 thousand, stemming from the commercial sales of its pediatric Selective Cytopheretic Device (SCD), which received FDA approval under a Humanitarian Device Exemption in February 2024. The company also raised approximately $2.0 million through an At-the-Market offering after September 30, 2024. SeaStar Medical's research and development expenses increased due to clinical trials and personnel costs, while general and administrative expenses also rose, primarily due to settlement fees with Nuwellis, Inc. The company's future plans include continuing the development of its SCD technology and expanding its commercial operations for the pediatric SCD, as well as pursuing FDA approval for the adult SCD.