Earnings Releases·Nov 12, 2026, 8:00 AM ET

SeaStar Medical — Third Quarter 2026 Earnings Summary

Net revenue surged 247% year-over-year to $635,000, while net loss narrowed to $4.5 million ($1.03/share) from $3.5 million ($1.30/share) in the prior year period.
Cash reserves declined to $4.0 million at September 30, 2026, from $12.0 million at year-end 2025, though $3.3 million in warrant exercises occurred in October 2026.
The NEUTRALIZE-AKI pivotal trial has enrolled 75% of its target (251/339 patients) with completion expected by mid-2027; the company also secured dedicated ICD-10-PCS codes and a seventh Breakthrough Device Designation for SCD therapy.
R&D expenses increased to $3.6 million due to clinical trial activities, while G&A expenses decreased to $1.6 million driven by lower personnel and regulatory costs.
No specific financial guidance was issued; management emphasized confidence in QUELIMMUNE adoption and the modular FDA submission strategy to accelerate adult AKI approval.