What is SeaStar Medical Holding Probability of Financial Distress (%)?
Probability of Financial Distress (%) measures the probability that a company will go bankrupt in the upcoming year given its current financial position. A higher ratio indicates a larger probability of bankruptcy for the company, while a lower ratio indicates a healthier fundamental. As of today, SeaStar Medical Holding's Probability of Financial Distress (%) is 6.11%.
Like the Altman Z-Score, the PFD measures a company's bankruptcy risk. However, the main drawback of the Z-score is it does not apply to banks and insurance companies. According to Investopedia, the concept of "working capital" does not apply to banks and insurance companies, as financial institutions do not have typical current assets or current liabilities like inventories or accounts payable.
Competitive Comparison of SeaStar Medical Holding's Probability of Financial Distress (%)
For the Biotechnology subindustry, SeaStar Medical Holding's Probability of Financial Distress (%), along with its competitors' market caps and Probability of Financial Distress (%) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
SeaStar Medical Holding's Probability of Financial Distress (%) Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, SeaStar Medical Holding's Probability of Financial Distress (%) distribution charts can be found below:
* The bar in red indicates where SeaStar Medical Holding's Probability of Financial Distress (%) falls into.
SeaStar Medical Holding Probability of Financial Distress (%) Calculation
Probability of Financial Distress (%) (PFD) was developed by John Campbell, Jens Hilscher and Jan Szilagyi in their Search of Distress Risk. It measures the probability that a company will go bankrupt within the next 12 months given its current financial position.
The Probability of Financial Distress (%) was obtained by a logit probability model based on eight explanatory variables. The logit formula to compute the probability of financial distress (LPFD) is given below:
| LPFD | = | -20.12 * NIMTAAVG | + | 1.60 * TLMTA | - | 7.88 * EXRETAVG | + | 1.55 * SIGMA | - | 0.005 * RSIZE | - | 2.27 * CASHMTA | + | 0.070 * MB | - | 0.09 * PRICE | - | 8.87 |
| = | -2.73 |
The Probability of Financial Distress (%) (PFD) was then obtianed by:
| PFD | = | 1 | / | (1 + e^(-LPFD)) | * | 100% |
| = | 6.11% |
The eight explanatory variables are:
1. NIMTAAVG = Net Income to Market Total Assets
*Note that for companies reported quarterly, geometrically declining weighted quarterly Net Income data in latest four quarters are used.
2. TLMTA = Total liabilities to Market Total Assets
3. CASHMTA = Cash to Market Total Assets
For non-financial companies, CASHMTA is measured as:
4. EXRETAVG = Excess Return compared to the S&P 500
EXRETAVG is the weighted excess return compared to the S&P 500 in past 12 month. Geometrically declining weights are imposed on the monthly excess return to reflect lagged information. The weight is halved each quarter.
5. SIGMA = Standard Deviation of Daily Returns
For sigma, we use the annualized standard deviation of a company's returns over the past 92 days (or 63 trading days).
6. RSIZE = Relative Size
| RSIZE | = | log (Market Cap | / | Total Market Cap of S&P 500 companies) |
7. MB = Market to Adjusted Book Equity Ratio
8. PRICE
PRICE is measured as the log of the stock price, capped at log(15).
SeaStar Medical Holding (SeaStar Medical Holding) Business Description
Traded in Other Exchanges
N/A
Address
3513 Brighton Boulevard, Suite 410, Denver, CO, USA, 80216
SeaStar Medical Holding Corp is a medical technology company developing proprietary solutions to reduce the consequences of hyperinflammation on vital organs. It 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.
Executives
| Heel Kenneth Van |
director |
C/O PFENEX INC., 10790 ROSELLE STREET, SAN DIEGO CA 92121 |
| Kevin Chung |
officer: Chief Medical Officer |
C/O SEASTAR MEDICAL, INC., 3513 BRIGHTON BOULEVARD, SUITE 410, DENVER CO 80216 |
| Richard D. Russell |
director |
3201 W BAY VISTA AVE, TAMPA FL 33611 |
| Bruce M. Rodgers |
director |
302 KNIGHTS RUN AVE., STE. 1000, TAMPA FL 33602 |
| Andres Lobo |
director |
C/O SEASTAR MEDICAL, INC., 3513 BRIGHTON BOULEVARD, SUITE 410, DENVER CO 80216 |
| Caryl Baron |
officer: See Remarks |
C/O SEASTAR MEDICAL, INC., 3513 BRIGHTON BOULEVARD, SUITE 410, DENVER CO 80216 |
| Eric Schlorff |
director, officer: Chief Executive Officer |
C/O SEASTAR MEDICAL, INC., 3513 BRIGHTON BOULEVARD, SUITE 410, DENVER CO 80216 |
| Rick Barnett |
director |
C/O SEASTAR MEDICAL, INC., 3513 BRIGHTON BOULEVARD, SUITE 410, DENVER CO 80216 |
| Allan Collins |
director |
C/O SEASTAR MEDICAL, INC., 3513 BRIGHTON BOULEVARD, SUITE 410, DENVER CO 80216 |
| Dow Employees' Pension Plan Trust |
10 percent owner |
2211 H.H. DOW WAY, SSC BUILDING, MIDLAND MI 48674 |
| Union Carbide Employees' Pension Plan Trust |
10 percent owner |
2211 H.H. DOW WAY, SSC BUILDING, MIDLAND MI 48674 |
| Martin A Traber |
director |
100 N TAMPA STREET, SUITE 2700, TAMPA FL 33602 |
| Lm Funding America, Inc. |
10 percent owner |
1200 WEST PLATT STREET, SUITE 100, TAMPA FL 33606 |
| Craig E Burson |
director |
400 N. PARK AVENUE, UNIT 10B, BRECKENRIDGE CO 80424 |
| Bruce H Bennett |
director |
3929 ARLINGTON DRIVE, PALM HARBOR FL 34685 |
SeaStar Medical Holding (SeaStar Medical Holding) Headlines
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