ICU - Eying long position
Seastar Medical, operating within the rapidly growing biotechnology sector projected to reach $3879.51 billion by 2030, is at the forefront with its Selective Cytopheretic Device (SCD) aimed at treating excessive inflammation through extracorporeal therapies. Despite a significant financial downturn, with a 400% decrease in income and a substantial increase in research spending, the company has identified a crucial catalyst for future growth. The SCD has received an Approvable Letter from the FDA for use in pediatric patients with acute kidney injury and sepsis, marking a pivotal step towards commercialization expected by early 2024. This development positions Seastar Medical as a promising investment, particularly for those looking to enter the market at a potentially undervalued price point, with the anticipation of limited aggressive selling historically observed in this stock's lower value range $.40 to .50 cent area, this is the area im watching, i may be too late. But at least my pole is in the water.
