SeaStar Medical Holding Corporation (NASDAQ: ICU) jumped more than 20% on Friday after the company announced that new data from its QUELIMMUNE kidney therapy had been accepted as a late-breaking presentation at the American Society of Nephrology's Kidney Week 2026.

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The presentation will include post-approval data from SeaStar's SAVE Registry, which is tracking critically ill children with sepsis-associated acute kidney injury treated with QUELIMMUNE.

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Among the first 21 pediatric patients enrolled, SeaStar reported a 76% survival rate at 28 and 60 days and 71% at 90 days. The company said this represents an approximately 50% reduction in mortality at 60 days compared with historical data. No device-related adverse events or infections were reported.

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To be sure, stronger post-approval data could help SeaStar convince more hospitals to use QUELIMMUNE, which is already FDA-approved for certain critically ill pediatric patients with acute kidney injury. And commercial adoption is beginning.

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SeaStar generated approximately $600,000 in product revenue during the second quarter, an 82% increase from a year earlier, while expanding its customer base to 20 children's hospitals.

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The company also received some help on the reimbursement front. Effective Oct. 1, three new ICD-10-PCS procedure codes became available for SeaStar's Selective Cytopheretic Device technology, giving hospitals a standardized way to document procedures involving the device.

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The bigger opportunity

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The more significant long-term catalyst is SeaStar's adult program.

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The company is conducting its pivotal NEUTRALIZE-AKI trial in adults with acute kidney injury requiring continuous renal replacement therapy. SeaStar estimates more than 200,000 adults in the U.S. develop this condition annually, making the potential adult market roughly 50 times larger than its current pediatric opportunity.

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As of August, 223 of the targeted 339 patients had been enrolled, with enrollment expected to finish around the end of 2026 or early 2027.

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SeaStar is still a tiny medical-device company, but the market now has several catalysts to watch, including the SAVE Registry presentation, continued QUELIMMUNE sales growth, and completion of the adult pivotal trial.

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Indeed, if the adult program eventually reaches the market, SeaStar could be addressing a substantially larger commercial opportunity than it does today.

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