SeaStar Medical Holding Corporation (ICU) Stock

SeaStar Medical Holding Corporation (ICU) is a Healthcare stock trading at $3.35 (as of 2026-08-20), with a market capitalization of $14.76M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

SeaStar Medical Holding Corporation is a medical device company developing and commercializing extracorporeal therapies aimed at treating hyperinflammation and cytokine storm in critically ill patients. Its pipeline targets indications such as pediatric and adult acute kidney injury on CRRT, cardiorenal syndrome in congestive heart failure, myocardial stunning in end-stage renal disease, and hepatorenal syndrome.

Understand SeaStar Medical Holding Corporation: how it makes money

SeaStar Medical Holding develops and commercializes extracorporeal therapies and related services aimed at treating hyperinflammation and cytokine storm in critically ill patients, with products under development for areas such as pediatric and adult acute kidney injury on CRRT.

The profit model depends on successfully commercializing its extracorporeal therapies and services that target the effector cells driving systemic inflammation, turning clinical development into recurring product and service revenue.

Business quality (Weak): Limited disclosed operating detail was provided (no reportable segments or operational KPI labels), so the investable read-through is constrained to the stated therapeutic focus and the latest quarter profit/loss snapshot.

Bull case

Clear therapeutic focus on hyperinflammation and cytokine storm: The company targets effector cells driving systemic inflammation, aiming to treat critically ill patients where pro-inflammatory cytokines drive imbalanced immune responses.
Multiple development areas within acute care: It is developing products including pediatric and adult acute kidney injury on CRRT, and cardiorenal syndrome (text provided is incomplete).
High gross margin reported for the latest period: Gross margin for the period ended 2026-03-31 was 90.7%.

Bear case

Profitability is not yet achieved: Operating margin for the period ended 2026-03-31 was -727.9%, indicating substantial operating losses.
Commercial execution is still in the development and commercialization phase: The business description emphasizes developing and commercializing therapies, implying execution risk to translate development into sustainable revenue.
No segment or operating KPI breakdown provided: Without reportable segments and operational KPI labels, it is harder for investors to track what is driving performance quarter to quarter.

Valuation — source: SEC EDGAR (first-party)
Price	$3.35
Market Cap	$14.76M
Price / Book	3.44
Price / Sales	8.26

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.23M
Net Margin	-984.6%
Revenue Growth (YoY)	814.1%
EPS Growth (YoY)	-11.6%

Financial Health — source: SEC EDGAR
Altman Z-Score	-14.77 (distress)

Valuation vs Sector & Industry
Sector P/E (Healthcare)	21.6
Industry P/E (Medical Equipment)	32.9

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	GEODE CAPITAL MANAGEMENT, LLC ($206991.00)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Medical Equipment
CEO	Eric Schlorff
Employees	19
Country	US
IPO Date	2021-03-18

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Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.