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Seastar Medical Holding Corporation (ICU)
:ICU
US Market

SeaStar Medical Holding (ICU) AI Stock Analysis

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SeaStar Medical Holding

(NASDAQ:ICU)

35Underperform
SeaStar Medical faces significant financial challenges with ongoing losses and negative equity, which are major risks. While the FDA approval for the QUELIMMUNE device is a positive development, it is not enough to offset the financial instability. Technical indicators show mixed signals, and valuation remains difficult due to negative earnings. Strategic improvements in financial health are crucial for sustainable growth.
Positive Factors
Market Expansion
ICU's ability to engage pediatric hospitals and achieve a 70% conversion rate is encouraging for the company's growth prospects.
Product Development
SeaStar is on track to finalize patient enrollment and submit for pre-market approval for adult AKI indications, which is seen as a significant near-term catalyst.
Regulatory Approval
The FDA approval and commercial launch of the QUELIMMUNE device for pediatric patients with AKI due to sepsis have been significant milestones for SeaStar.
Technological Potential
The company’s recent Breakthrough Device Designation from the FDA for its SCD for adults with chronic dialysis supports optimism regarding the technology’s potential in treating several indications.
Negative Factors
Financial Performance
ICU reported lower revenue and higher operational expenses than expected, indicating potential financial challenges.
Stock Price Target
Due to share dilution from an expected capital raise and slightly lower estimates, the 12-month price target is reduced to $7, from $18.

SeaStar Medical Holding (ICU) vs. S&P 500 (SPY)

SeaStar Medical Holding Business Overview & Revenue Model

Company DescriptionSeaStar Medical Holding Corporation, a medical device company, focuses on providing novel solutions and services to treat hyperinflammation and cytokine storm in critically ill patients. The company is developing and commercializing extracorporeal therapies that target the effector cells that drive systemic inflammation, causing direct tissue damage and secreting a range of pro-inflammatory cytokines that initiate and propagate imbalanced immune responses. It is developing products in various therapeutic areas, including pediatric and adult acute kidney injury on CRRT; cardiorenal syndrome in congestive heart failure with and without LVAD; myocardial stunning in end stage renal disease; and hepatorenal syndrome. The company is based in Denver, Colorado.
How the Company Makes MoneySeaStar Medical Holding makes money through the sale and licensing of its Selective Cytopheretic Device (SCD) to hospitals, healthcare providers, and potentially through partnerships with other medical technology companies. Revenue is primarily generated from the commercialization of its patented therapies targeting acute kidney injury and other inflammatory conditions. The company may also derive income from ongoing research and development collaborations and potential future expansions into additional therapeutic areas.

SeaStar Medical Holding Financial Statement Overview

Summary
SeaStar Medical is in a precarious financial position with ongoing profitability challenges and negative equity. The introduction of revenue in 2024 is a positive sign but overshadowed by high operational losses and reliance on external financing.
Income Statement
30
Negative
The income statement reveals significant challenges. The company reported its first revenue in 2024, but the gross profit margin is low, and the net profit margin is negative due to substantial losses. EBIT and EBITDA margins are also negative, indicating ongoing operational struggles. Although there is a revenue introduction, past years show no revenue, and the trajectory needs monitoring.
Balance Sheet
20
Very Negative
The balance sheet shows financial instability with negative stockholders' equity, indicating potential solvency issues. The debt-to-equity ratio cannot be calculated due to negative equity, which is a significant concern. Total liabilities exceed total assets, and the equity ratio is negative, suggesting poor financial health and high financial risk.
Cash Flow
25
Negative
Cash flow analysis indicates strained liquidity with no free cash flow and operating cash flow issues. The operating cash flow to net income ratio is negligible, reflecting difficulty in converting revenue to cash. Financing cash flow is positive, indicating reliance on external financing to sustain operations, which is risky if not managed well.
Breakdown
TTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income StatementTotal Revenue
68.00K135.00K0.000.000.000.00
Gross Profit
68.00K135.00K0.000.000.000.00
EBIT
-16.02M-17.84M-14.21M-11.61M-4.45M-6.45M
EBITDA
-29.59M-17.84M-11.14M-11.61M0.000.00
Net Income Common Stockholders
-30.29M-24.83M-26.23M-23.01M-4.60M-3.28M
Balance SheetCash, Cash Equivalents and Short-Term Investments
503.31K1.82M176.00K47.00K510.00K2.81M
Total Assets
106.83M4.66M3.51M4.77M603.00K2.91M
Total Debt
0.00574.00K9.08M8.83M2.62M83.00K
Net Debt
-503.31K-1.25M8.90M8.78M2.11M-2.72M
Total Liabilities
10.20M6.84M17.38M13.00M76.77M74.49M
Stockholders Equity
96.64M-2.18M-13.87M-8.23M-76.17M-71.58M
Cash FlowFree Cash Flow
-15.80M0.00-10.29M-7.79M-5.11M-5.57M
Operating Cash Flow
-15.80M0.00-10.29M-7.79M-5.11M-5.57M
Investing Cash Flow
0.000.000.000.00-105.57M0.00
Financing Cash Flow
17.81M17.65M10.41M7.33M2.82M4.89M

SeaStar Medical Holding Technical Analysis

Technical Analysis Sentiment
Negative
Last Price1.35
Price Trends
50DMA
1.85
Negative
100DMA
1.99
Negative
200DMA
3.93
Negative
Market Momentum
MACD
>-0.01
Positive
RSI
35.55
Neutral
STOCH
8.56
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ICU, the sentiment is Negative. The current price of 1.35 is below the 20-day moving average (MA) of 1.94, below the 50-day MA of 1.85, and below the 200-day MA of 3.93, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 35.55 is Neutral, neither overbought nor oversold. The STOCH value of 8.56 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ICU.

SeaStar Medical Holding Risk Analysis

SeaStar Medical Holding disclosed 57 risk factors in its most recent earnings report. SeaStar Medical Holding reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

SeaStar Medical Holding Peers Comparison

Overall Rating
UnderperformOutperform
Sector (48)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
54
Neutral
$7.15B-80.35%-10.89%
49
Neutral
$491.11M91.25%-17.75%-19.17%
48
Neutral
$6.86B1.11-50.22%2.47%16.71%1.53%
48
Neutral
$11.39M-184.09%68.50%
44
Neutral
$22.64M-270.01%-65.96%40.80%
38
Underperform
$10.54M-66.65%157.63%40.52%
ICICU
35
Underperform
$12.12M1475.93%75.26%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
ICU
SeaStar Medical Holding
1.39
-16.48
-92.22%
BLRX
Bioline RX Ltd Sponsored ADR
2.94
-30.00
-91.07%
MDGL
Madrigal Pharmaceuticals
327.10
85.64
35.47%
CARA
Cara Therapeutics
4.95
-4.96
-50.05%
AKBA
Akebia Therapeutics
1.88
0.37
24.50%
APRE
Aprea Therapeutics
1.80
-4.37
-70.83%

SeaStar Medical Holding Corporate Events

Private Placements and FinancingBusiness Operations and Strategy
SeaStar Medical Secures $6M Through Equity Agreements
Neutral
Feb 3, 2025

On January 31, 2025, SeaStar Medical Holdings entered a Securities Purchase Agreement with an institutional investor, issuing shares and warrants in both a registered direct offering and a concurrent private placement, expecting gross proceeds of approximately $6 million. The funds are intended for general corporate purposes, potentially impacting its operational capabilities and market strategy by enhancing working capital and capital expenditures.

Product-Related AnnouncementsBusiness Operations and Strategy
SeaStar Medical Gains FDA Approval for Pediatric Device
Positive
Jan 13, 2025

SeaStar Medical announced the FDA approval of its QUELIMMUNE device for pediatric acute kidney injury, marking a significant milestone in its commercialization strategy. The company is currently enrolling patients in a pivotal trial for adult acute kidney injury, a market significantly larger than the pediatric segment. This progress underscores SeaStar’s potential to capture a substantial share of the multibillion-dollar market for inflammation-driven diseases, leveraging its proven SCD platform technology.

Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.