Drive adoption of QUELIMMUNE for ultra-rare pediatric AKI, expanding revenue and doubling the customer base Advance SeaStar Medical’s first-in-class SCD therapy for the adult AKI indication – a potential $4.5 billion market – through completion of enrollment of the NEUTRALIZE-AKI pivotal trial and initiation of the PMA process Progress the clinical development of the SCD therapy in patients with severe heart failure Leverage rapid pathways to commercialization of the SCD therapy through additional FDA Human ...

Core Insights - SeaStar Medical Holding Corporation reported strong progress in the third quarter of 2025, highlighting growth in customer base and impressive survival results for its QUELIMMUNE therapy [2][3][4] Business Highlights - Three top-ranked children's medical centers adopted QUELIMMUNE therapy for pediatric Acute Kidney Injury (AKI) [3][4] - QUELIMMUNE therapy demonstrated a survival rate of 76% at 60 days and 71% at 90 days for 21 pediatric patients, indicating a potential 50% reduction in loss of life compared to historical data [4][14] - The company raised $12.4 million to strengthen its balance sheet and support future operations [5][11] Clinical Trials and Research - The NEUTRALIZE-AKI pivotal clinical trial is ongoing, with an interim analysis showing positive safety signals and no device-related safety issues [4][16] - Total enrollment for the NEUTRALIZE-AKI trial has been adjusted to approximately 339 patients, with 146 patients enrolled to date [4][16] - A new clinical trial for NEUTRALIZE-CRS therapy has been initiated, targeting patients with acute chronic systolic heart failure [4] Financial Performance - Net revenue for the third quarter of 2025 was approximately $0.2 million, compared to $0.1 million in the same period of 2024 [6] - Research and development expenses decreased to $1.9 million from $2.3 million year-over-year, while general and administrative expenses also saw a decline [8][9] - The net loss for the third quarter was approximately $3.5 million, or $0.13 per share, an improvement from a net loss of $4.5 million, or $1.10 per share, in the prior year [11][27] Market Position and Future Outlook - The QUELIMMUNE therapy is the only FDA-approved product for life-threatening pediatric AKI due to sepsis, with significant market potential in both pediatric and adult applications [19] - The company is focused on expanding its market share and generating sales in the adult AKI market, which is significantly larger than the pediatric segment [5][19]

Core Insights - SeaStar Medical Holding Corporation reported significant progress in its clinical trials and business initiatives, including patient enrollment and new customer acquisitions for its QUELIMMUNE therapy [2][3][4]. Financial Performance - For the three months ended June 30, 2025, net revenue was approximately $0.3 million, primarily from sales of QUELIMMUNE therapy [5]. - Research and development expenses decreased to $1.0 million from $2.3 million in the same period of 2024, driven by reduced clinical trial costs [6]. - General and administrative expenses also fell to approximately $1.0 million from $2.3 million year-over-year, reflecting cost-saving measures [7]. - The net loss for the quarter was approximately $2.0 million, or $0.18 per share, an improvement from a net loss of $3.2 million, or $1.03 per share, in the same quarter of 2024 [9]. Clinical Developments - The NEUTRALIZE-AKI trial has enrolled over 60% of its target, with 125 out of 200 patients now enrolled, and interim analysis results are expected in Q3 2025 [4][17]. - Three new top-rated children's hospitals have adopted the QUELIMMUNE therapy, expanding its customer base [3][4]. - Positive survival results from the SAVE Surveillance Registry indicated a 75% survival rate for the first 20 pediatric patients treated with QUELIMMUNE, with no device-related safety events reported [4][15]. Funding and Financial Position - Cash at June 30, 2025, was $6.3 million, a significant increase from $1.8 million at the end of 2024, bolstered by $8.4 million raised in two registered direct offerings [10][12]. - The company implemented additional cost-saving measures to extend its financial runway and focus resources on developing SCD therapy for adult patients with AKI, which represents a much larger market opportunity compared to pediatric AKI [12]. Regulatory and Research Initiatives - The U.S. Centers for Medicare & Medicaid Services (CMS) agreed to cover certain expenses for patients enrolled in the NEUTRALIZE-CRS trial, a rare achievement for clinical trials [4]. - A $2 million grant from the U.S. Department of Defense was awarded to support research on the application of SCD therapy in severe burn cases, highlighting the therapy's potential in diverse medical scenarios [4].