Michael Messinger, a veteran of healthcare finance with more than 25 years of experience, has been named Chief Financial Officer of SeaStar Medical Holding Corporation. Messinger most recently led the financial strategy for ContraFect Corporation through its 2014 IPO and a $90 million BARDA contract, and he has held senior finance roles at Lexicon Pharmaceuticals and Coelacanth Corporation. His appointment is intended to strengthen SeaStar’s financial operations as the company expands the commercial footprint of its Selective Cytopheretic Device (SCD) platform and prepares for additional capital raises.
SeaStar’s latest quarterly results show a sharp rise in revenue, with net revenue climbing to $183,000 in Q3 2025 from $68,000 in Q3 2024—a 169 % year‑over‑year increase driven by early commercial sales of the QUELIMMUNE (SCD‑PED) therapy for pediatric acute kidney injury. The company reported a net loss of $3.5 million for the quarter, reflecting ongoing clinical trial expenses and the cost of scaling early commercial operations. Cash on hand grew to $13.8 million from $1.8 million at the end of 2024, largely due to equity financings and warrant exercises, but the company disclosed substantial doubt about its ability to continue as a going concern, underscoring the need for future capital injections.
The SCD platform, which has received FDA Breakthrough Device designation for multiple indications, is the core of SeaStar’s commercial strategy. The company’s QUELIMMUNE therapy received FDA approval in 2024 for pediatric acute kidney injury caused by sepsis, and it is conducting a pivotal trial in adult patients. SeaStar targets the $100 million U.S. pediatric AKI market and is expanding its network to capture new pediatric hospitals while pursuing broader indications in adult AKI and other inflammatory conditions.
"Mike brings to SeaStar a breadth of financial expertise, operational discipline, and strategic healthcare experience that will be invaluable as we grow our commercial operations and prepare for additional commercial opportunities for our SCD therapy," said CEO Eric Schlorff. Messinger added, "I am very excited to work with the SeaStar team to build on their early success, expand our SCD therapy to address multiple indications, and fulfill our mission to spare organ function and save lives in patients impacted by destructive hyperinflammation."
The CFO’s experience in IPOs, capital raising, and cost control positions SeaStar to navigate the financial challenges of scaling its commercial operations. With a strong gross profit margin of 92 % but a net loss driven by clinical development costs, the company’s cash runway is limited, and the appointment signals a focus on disciplined financial management and strategic capital deployment. The addition of Messinger also signals confidence that SeaStar can secure the additional funding needed to support its commercial expansion and ongoing clinical programs, while maintaining the financial discipline required to move the SCD platform from early commercial to broader market adoption.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.