SeaStar Medical Holding Corporation (ICU)

You would think with the Kyle Busch case, that at least we wouldn't be cratering.

Anyone have a feel for what is going on here?  Down 40% in less than a month.  

Any verdict here whether the RS solves or normalizes the math?

Wow, didn't know about Kyle dying from sepsis, seems so useless when the filter probably wasn't even available to try. I think this product should be a right to try like drug development.

I think the math works when you reverse mathamatize for the reverse split because I know there were a lot more shares outstanding so the loss should be adjusted down to .438 per share loss which is mathable IMO

Unfortunately the math doesnt math IMHO
Net loss for the three months ended March 31, 2026, was approximately $3.5 million, or $0.90 per share on approximately 3.9 million weighted-average shares outstanding.
This compared with a net loss of approximately $3.8 million, or $4.38 per share, on approximately 0.9 million weighted-average shares outstanding for the three months ended March 31, 2025.

The Company reported cash of $9.3 million as of March 31, 2026, compared to $12.0 million as of December 31, 2025.

Co still has to enroll another 140 patients in its adult trial ( from date of this report ) and its losing over $3m a qt

So another capital raise before EOY is inevitable IMHO .

Was just checking in to see if there was any comments on Kyle Busch's unfortunate death due to sepsis . Wondering if the ICU filter may have helped .

Kiwi

SeaStar Medical Reports First Quarter Financial Results and Provides Updates
Added 7 top-rated children’s hospitals to QUELIMMUNE® pediatric acute kidney injury (AKI) customer base, increasing first quarter revenue 69% versus first quarter 2025 revenue

Advanced enrollment in the NEUTRALIZE-AKI pivotal clinical trial in adult patients with AKI

Initiated efforts for the submission of a modular post-marketing application (PMA)

Webcast today at 4:30 pm Eastern Time

DENVER, May 13, 2026 (GLOBE NEWSWIRE) -- SeaStar Medical Holding Corporation (Nasdaq: ICU), a commercial-stage healthcare company focused on transforming treatments for critically ill patients facing organ failure and potential loss of life announced today financial results for the three months ended March 31, 2026, and provided business updates on key initiatives.

“Our QUELIMMUNE customer base continues to grow with a groundswell of enthusiasm among key experts that is driving our penetration into new accounts,” said Eric Schlorff, CEO of SeaStar Medical. “We saw a significant jump in revenue of 69% this quarter versus the first quarter of last year. The trajectory is very encouraging as we consider the next opportunity in the adult market, which is approximately 50 times larger than the pediatric AKI market.”

Mr. Schlorff continued, “We are working diligently to enroll adult patients with AKI in the NEUTRALIZE-AKI pivotal trial. We have activated multiple new clinical sites in the last six months and believe that a successful outcome of this trial would position us to file a PMA with the FDA for the adult AKI indication in 2027. Our success in building the QUELIMMUNE market now will provide critical support for this potential future opportunity.”

Key Business Highlights

SeaStar Medical’s achievements since the beginning of 2026 include the following:

Expanded the use of QUELIMMUNE (SCD-PED) therapy for ultra-rare pediatric AKI, adding 7 new customers from top-rated children’s hospitals, bringing the total customer base to 17 and building increased depth in customer orders. This led to first quarter 2026 net revenue of $0.5 million for QUELIMMUNE product sales, an increase of 69% versus the first quarter of 2025.
Advanced enrollment in the NEUTRALIZE-AKI pivotal trial that is evaluating the Selective Cytopheretic Device (SCD) therapy as a potential treatment of adult patients with AKI in the ICU receiving continuous renal replacement therapy (RRT). The trial has enrolled 198 of 339 patients to date.
Completed the required enrollment in the SAVE Registry, a post-approval surveillance registry evaluating the role of the QUELIMMUNE therapy in the treatment of critically ill pediatric patients with life-threatening AKI and sepsis or a septic condition. The registry has successfully enrolled 50 patients, and the company will be reporting the 28-day safety results from the SAVE Registry to the FDA upon completion of its analysis of the data.
Announced the publication of early post-approval, real-world experience from the use of the QUELIMMUNE therapy in the prestigious, peer-reviewed journal Pediatric Nephrology. The publication, co-authored by leading experts in pediatric critical care management, highlights early experience from the first 21 pediatric patients in the SAVE Registry. The published data from the commercial use of the QUELIMMUNE therapy showed no device related safety events with the QUELIMMUNE therapy with 76% of patients surviving through 60 days and 71% surviving through 90 days. These results are on track to validate a nearly 50% reduction in loss of life compared to historical data, as reported previously in Kidney Medicine.
Presented new data at the 31st International Conference on Advances in Critical Care Nephrology, also known as AKI & CRRT 2026, highlighting patient experience from the first 32 pediatric patients in the SAVE Registry. The clinical experience from the updated cohort demonstrated trends consistent with those previously reported from the initial cohort of 21 patients and the QUELIMMUNE registrational studies, and continue to support the QUELIMMUNE therapy safety and potential benefit in this critically-ill patient population.
Assembled leading experts in the treatment of pediatric AKI to speak at the SeaStar Medical educational symposium at the AKI & CRRT 2026 meeting to discuss the complex pathophysiology of pediatric AKI with sepsis, the SAVE Registry, the immunomodulatory effects of the QUELIMMUNE therapy which may ameliorate dysregulated hyperinflammatory disease states, and other topics of interest to the nephrology community.
Initiated efforts for the submission of a modular PMA to potentially speed the FDA review and approval process for the SCD therapy as a potential treatment for adult patients with AKI in the ICU receiving continuous RRT. SeaStar Medical has also been granted Breakthrough Device Designation by the FDA for this indication, which may expedite the PMA approval process for novel devices that will save lives and treat debilitating diseases.
Anticipated 2026 Milestones

Broaden QUELIMMUNE adoption to include 15 additional top-ranked children’s medical centers, more than doubling the total number of sites from the beginning of the year and building increased depth in customer orders. SeaStar Medical also anticipates achieving approximately $2 million in net product revenue in 2026.
Advance the SCD therapy for the adult AKI indication through completion of enrollment in the NEUTRALIZE-AKI pivotal trial around the end of 2026 and begin submission of relevant PMA modules to the FDA to facilitate the PMA review and approval process.
Evaluate broader applicability of the SCD therapy through the conduct of a clinical trial of the SCD therapy in patients with chronic heart failure with cardiorenal syndrome awaiting left ventricular assist device implantation. SeaStar Medical has also been granted Breakthrough Device Designation by the FDA for this indication given the severity of the disease and lack of current effective treatments.
Explore rapid regulatory pathways to commercialization of the SCD therapy as a first-in-class therapy, designed to save lives and spare organ function in numerous destructive hyperinflammatory conditions. SeaStar Medical will seek additional Humanitarian Use and Breakthrough Device Designations to potentially provide lifesaving support to these patients as rapidly as possible.
Financial Results for the First Quarter 2026

For the three months ended March 31, 2026, net revenue was approximately $0.5 million, reflecting sales of the QUELIMMUNE pediatric SCD therapy. This compared to net revenue of approximately $0.3 million for the three months ended March 31, 2025.

Research and development expenses for the three months ended March 31, 2026, and 2025, were $2.3 million and $2.4 million, respectively. The decrease in research and development expenses was primarily driven by a decrease in clinical trial costs related to the NEUTRALIZE-AKI pivotal trial, offset by increases in personnel costs and costs for external services.

General and administrative expenses for the three months ended March 31, 2026, and 2025, were approximately $1.7 million and $1.7 million, respectively. General and administrative expenses for the three months ended March 31, 2026, reflected an increase in legal and accounting related expenses, offset by declines in personnel costs and SEC related costs.

Other income (net) increased approximately $30 thousand for the three months ended March 31, 2026, compared to the three months ended March 31, 2025. The increase was primarily driven by increased interest income.

Net loss for the three months ended March 31, 2026, was approximately $3.5 million, or $0.90 per share on approximately 3.9 million weighted-average shares outstanding. This compared with a net loss of approximately $3.8 million, or $4.38 per share, on approximately 0.9 million weighted-average shares outstanding for the three months ended March 31, 2025.

The Company reported cash of $9.3 million as of March 31, 2026, compared to $12.0 million as of December 31, 2025.

SeaStar Medical First Quarter Financial Results Conference Call
Date/Time: Wednesday, May 13, 2026, at 4:30 p.m. ET / 2:30 p.m. MT
Webcast: The live webcast and replay can be found here.
Register for the call: Preregistration is required to attend the live call and can be accessed here. A pin code and dial in number will be provided with registration.
A replay of the call will be available after 7:30 p.m. ET and can be accessed here.

TRIAL UPDATE
The Ron Reagan UCLA Medical Center is RECRUITING
There are also 7 new sites added!!! None are shown as recruiting ( and hopefully will not take as long as UCLA did) but the new sites:

Phoenix, Arizona --Mayo Clinic

San Francisco, California --University of California San Francisco

Jacksonville, Florida-- Mayo Clinic in Florida

Atlanta, Georgia-- Emory Healthcare

Gainesville, Georgia-- Northeast Georgia Health System

Baltimore, Maryland-- University of Maryland Medical Center

Columbus, Ohio-- Ohio State University Wexner Medical Center

Timelines really aren't my thing, best to ask theswordman he is much more in tune with that kind of thing, like kiwi. I just buy early and hope for the best over time.

Ernie, looking forward, the company thinks that enrollment for the neutralized AKI study will be completed by the end of 2026.  Then the study has to go to completion and then the results hashed out before applying to FDA for approval.  Do you have a feel for when that approval might come?  TIA

Things appear to be progressing toward launch after eventual approval. Nice to see the upward movement of late.

Fingers are cramped from being crossed for an extended period of time.

SeaStarMedical @SeaStarMedical
Our awesome Clinical Training Team is once again hard at work creating #SCD instructional videos for our sites! Thank you Shar, Jessi and Matt!

Our awesome Clinical Training Team is once again hard at work creating #SCD instructional videos for our sites! Thank you Shar, Jessi and Matt! #ICU $ICU pic.twitter.com/cFmtTqIpKE— SeaStarMedical (@SeaStarMedical) April 20, 2026

SeaStarMedical @SeaStarMedical

What does 'I See You' mean in healthcare? We're launching a quiet campaign to honor the unseen battles. Stay tuned.....
8:39 AM · Apr 15, 2026
·
https://www.linkedin.com/company/seastarmed/posts/?feedView=all

Looks to me like it wants to break above $5. I has been a nice steady climb more or less and there is room for it to hit that $5 or better with news.

JMO

I am not much into charts, technical analysis, especially when it comes to small bios, but I have to say that the chart is looking particularly bullish. Knowing my history, the fact that it looks bullish to me might mean we due for a drop. Let's see what happens.

ICU...........................https://stockcharts.com/sc3/ui/?s=ICU&p=W&b=5&g=0&id=p86431144783

Moved close to a buck today - nothin to sneeze at.

My LUNR made a better than $3 move today - I bought Feb 2024 at $5.899 waiting for it to leave the earth's atmosphere before selling.

I know a lot of people have jumped out long ago but I never buy more than what I can comfortably let sit and wait for the payout and it looks like this one will eventually be on my winners list.

Congrats Ernie. I will stay the course. A more than double the avg volume today.

Enjoy the ride and don't be so quick to jump off good news must have leaked somewhere. It is showing strength.

FYI I got all my warrants set to sell at .30 which would be about $80K across all accounts as every one holds some, if it breaks $5 I will raise the warrants to .45 which would yield over $130K - If it breaks $6 I will cut my warrant sell orders in half and raise the sell price to .55.

I love this game

It keeps going up.  Anyone have any idea where this ride ends?

Standby Equity Purchase Agreement
On April 25, 2025, we entered into a standby equity purchase agreement (“SEPA”) with Lincoln Park Capital, LLC (“Lincoln Park”) pursuant to which we have the right to sell to Lincoln Park shares of Common Stock, subject to certain limitations, from time to time over the 36-month period commencing on the Commencement Date. As of December 31, 2025, approximately $15.0 million in aggregate capacity remained available under the SEPA.

2025 Offering Activity
During the year ended December 31, 2025, we raised under the 2023 Shelf: (i) approximately $14.4 million through three registered direct offerings and concurrent private placements of Common Stock, pre-funded warrants, warrants and placement agent warrants, and (ii) approximately $6.1 million through our ATM Agreement. We also raised outside the 2023 Shelf: (i) approximately $4.0 million through a best-efforts public offering of Common Stock, pre-funded warrants, warrants and placement agent warrants, and (ii) approximately $40 thousand from the SEPA.

Stock seems to want to hang on to recent gains. Was thinking there might be some profit taking here, but stock seems resilient and wants to go higher. Not sure if they will need funding soon but you would think with such an improvement in survival vs SOC that some entity would be glad to either supply the funding or buy them out outright.

Yep. I guess I have just been kicking myself for not unloading some of my profitable positions before the market downturn decimated many of them.  So now was getting trigger happy but you are right, if this succeeds it will be much higher and shouldn’t be affected by inflation, economy, or war. 

Hopefully it is just resting and continues northward into the close. But I've learned that that is not always the case.

This is still one of my favorites to have a positive effect once the FDA approves the product.

Move continuing today with high volume. Wondering where it may come to rest.

Nice move with today's PR - I think it only gets better going forward. Won't happen overnight but I'm willing to wait for this to eventually mature and be approved for all indications.

ICU..............................https://stockcharts.com/sc3/ui/?s=ICU&p=W&b=5&g=0&id=p86431144783

SeaStar Medical to present at this Inv Conf 11 MARCH-- this page has a link "REGISTER HERE" to sign up

https://www.globenewswire.com/news-release/2026/03/09/3251834/0/en/SeaStar-Medical-to-Present-at-the-Life-Sciences-Investor-Forum-on-March-11th.html

So depending on how you count--2 Atlanta locations or just 1. And Dallas Childrens is not shown but was named in the NR.

You can see the names here



Its good to see places like Miami, Denver, Nashville

Nice update for ICU - completing enrollment requirement of 50 patients, nice list of hospitals participating.
Look forward to positive reporting once results are analyzed.

https://finance.yahoo.com/news/seastar-medical-announces-completion-fda-132000733.html

Video from Noble Capital Markets Virtual Equity Conference

Tomorrow--SeaStar will participate in:

Noble Capital Markets Emerging Growth Virtual Equity Conference
February 5, 2026 | 11:30 AM EST

You can register here:
https://investors.seastarmedical.com/events/event-details/noble-capital-markets-emerging-growth-virtual-equity-conference

New interview w CEO / Zacks

https://scr.zacks.com/news/news-details/2026/CEO-Chat-with-Eric-Schlorff-CEO-of-SeaStar-Medical-Holding-Corporation/default.aspx

San Antonio --27 JAN 2026 SeaStar meeting
SeaStar Medical hosted a NEUTRALIZE-AKI Investigator's Meeting

Amazing engagement from multiple investigators and research coordinators from various sites braving the snow and ice to fly in from every corner of the country. 40 in person with another 20 participating remotely!

We shared clinical trials best practices and discussed overcoming challenges. Lots of great actionable information shared that will undoubtedly help us ramp up enrollment.

We also heard from Dr. David Humes describe his decades of work with a focus on the mechanism of action of the SCD.

Thank you Carla Costilow MSN, RN for leading a fantastic session on the importance of data integrity and data monitoring!

per Dr Kevin Chung CMO @ SeaStar Medical

I know I'm light on my bio knowledge that is why I appreciate those posters who know what they are talking about, it really helps people such as myself.

Thank you for you posts and sharing of your knowledge - its very helpful like I said.

Biotech is my favorite sector for one has TIME to study the companies
efforts, time to assess the possibilities. And just as important, time to 'time'
an entry.

Agree on the pediatrics, and the potential for the adult one to pass. I have to
go back and look at the PH 2 results, how much margin there was to passing vs
failing.

And on the 'drop' before adding? I have done the same, didn't buy any with the
r/split pending and what appears to be a need for cash. Tired of getting in only
to see the shares clipped when they announce they have raised cash (dilution)

Good luck PS: still watching AGNHs warrant. But ANGH is a real crap shoot.
Needs money, bleeding cash and in an area (ME/ASIA) where one has to wonder just how
many subscribers they can rustle up cause of the potential competition from US based
entities selling the same 'product'.

ICU READY FOR 3.0 DOLLA POST RS MOVE WITH EASE

I like the product and the odds of being successful over time - the pediatrics is what drew my original interest and I think there is still a path for approval based on RWE standards. And will continue to watch for a big drop to add upon.

But please keep in mind I'm a straight up gambler with zero biotech background.

Starting to smell a little fishy....

Got to love how after a reverse split, when a company has a need
for cash. How there is a nice little PR run out to help spike interest
in the shares, run the price up.
AKA, an analyst 'coverage' report with an inflated target price of
$12/sh.(well before the clinical trial is even finished enrolling, as if the
trial has passed (smile)

But anyways, i would recommend keeping an eye on the share count.
Bet ya find out they were selling shares into this 'PR'..

cause its a very 'normal' event when r/splits are involved with a company
needing to raise cash (aka, sell shares/dilute)
and the tight/low float is going to add a bit more fuel to the fire if demand
picks up due to the PR, and the momentum gets traction.. But hey, if ya
have shares, enjoy the RUN if one develops..

Current stats: 3.8 Mil shares, $8.7 Mil Market Cap..

ICU..POST RS BIO BEAST READY TO BEAST THROUGH BEASTVILLE

ICU...POST RS READY TO GO

Got a lil bump this morning from the Conference fluff but didn't hold up

OK, r/split over. Lets see if there is any 'drift' lower, see if
there is any ATM sales to raise cash..

Disclaimer: own none, no reason to be in a hurry given their timeline
for completion of the ph 3. Plus I am anticipating both to take place
pushing the share price lower than it is today.

Now with only 3.6 Mil or so shares 'outstanding' post the split? Will the shorts try to take it down??

Hmmm. See its set to take effect 2 Jan 2026 according to the SEC filing.

For swordsman, is this more FUD?? (smile).

disclaimer: don't own shares, now expect them to sell shares to raise cash (why? cause its a far too common event
in conjunction with a r/split) So will be patient to see where it settles down (ie, its low in the chart) next before I consider
making my first buy. IE, will be patient cause IF it does sell off, it could get interesting if the market cap takes a new drop.
Good luck..

https://investors.seastarmedical.com/static-files/dfb64559-6dac-45c3-99a9-5a7e13b0da10

They have done absolutely nothing to help their share price I'm just glad its just a 10 to 1 with 2 weeks before it hits.

Bummer. Ty