Nuwellis, Inc. specializes in ultrafiltration therapy technology via its Aquadex System for fluid overload patients unresponsive to diuretics. While early revenue growth was notable through 2017, recent years reflect sustained operating losses and cash burn. The company is pursuing strategic initiatives including a manufacturing transition and acquisition to diversify offerings. Critical near-term milestones include FDA IDE submission planned for a pediatric CRRT device in 2028. Liquidity constraints persist with capital raising essential to fund operations amid Nasdaq compliance scrutiny and supply chain risks.