SeaStar Medical reports 2022 net loss of $23.0M; cash only $47K

SeaStar Medical Holding Corp

2023-Q1 EPS reported -$0.40

Net loss $23.0M ($2.80/share) vs $4.6M ($0.63/share) in 2021; G&A expenses rose to $6.6M from $1.7M.
Cash at Dec 31, 2022 was $47,000, down from $510,000; company raised $3.3M in March 2023 convertible debt.
SCD device for adult AKI: NEUTRALIZE-AKI trial to enroll up to 200 patients; expects FDA PMA filing in Q3 2024.
Pediatric AKI HDE application under FDA review; license/distribution agreement with Nuwellis for top 50 U.S. hospitals.
R&D expenses flat at $2.8M; other expense surged to $11.4M from $0.2M, driven by $10.2M loss on forward option.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SeaStar Medical Holding Corp reported the year ended December 31, 2022 results: net income $23.0 million, or $2.80 per share, EPS $2.80 per share.

Period: the year ended December 31, 2022
Net income: $23.0 million, or $2.80 per share
EPS: $2.80 per share
Result: reported results

Exact text from the filing

SeaStar Medical Reports 2022 Financial Results and Provides a Business Update DENVER (March 30, 2023) – SeaStar Medical Holding Corporation (Nasdaq: ICU) (“SeaStar Medical” or the “Company”), a medical device company developing proprietary solutions to reduce the consequences of hyperinflammation on vital organs, provides a business update and reports financial results for the year ended December 31, 2022.

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Source: SEC EDGAR

accession 0001193125-23-086140

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