Cytosorbents Corp Stock Price, News & Analysis

On July 2, 2022, CytoSorbents Corporation (NASDAQ: CTSO) hosted the 2022 CytoSorb World Users' Meeting in Berlin, celebrating its 10th anniversary of CytoSorb commercialization. The event engaged nearly 300 leading physicians and scientists, focusing on advancements in blood purification technology. Key discussions included the use of CytoSorb for treating lung failure, reversing septic shock, and improving outcomes in acute liver failure. The keynote was delivered by innovator Bruno Reichart, highlighting xenotransplantation as a potential solution for organ shortages. This meeting underscored CytoSorbents' commitment to improving critical care.

CytoSorbents Corporation (NASDAQ: CTSO) will hold its Annual Meeting virtually on June 7, 2022, at 10:00 a.m. Eastern. Stockholders of record as of April 14, 2022, can join the meeting to ask questions and vote electronically. The meeting will facilitate technical assistance for attendees. An archived recording will be available on the company's website for no less than 90 days post-meeting. CytoSorbents specializes in blood purification for critical care and cardiac surgery, with its product CytoSorb® approved in the EU and distributed in over 70 countries.

CytoSorbents Corporation (NASDAQ: CTSO) has expanded its distribution agreement with Nikkiso Europe GmbH to include the standalone PureADJUST hemoperfusion pump across 14 countries, building on a successful pilot program. This model aims to enhance the early application of CytoSorb therapy, which is crucial for patients with kidney failure. By starting treatment earlier, the company expects an increase in the number of patients benefiting from their blood purification technology. The agreement enhances CytoSorbents' market presence but lacks disclosed financial details.

CytoSorbents Corporation (NASDAQ: CTSO) announced its participation in two upcoming investor conferences. On May 23, 2022, CEO Phillip Chan will present at the UBS Global Healthcare Conference at 9:15 a.m. ET, followed by CFO Kathleen Bloch at the Jefferies Healthcare Conference on June 8, 2022, at 4:00 p.m. ET. Both presentations will feature live webcasts and investor meetings. Archived recordings will be available for 90 days on their website. CytoSorbents focuses on blood purification for critical care, with its flagship product approved in over 70 countries.

CytoSorbents Corporation (CTSO) reported Q1 2022 revenue of $8.7 million, an 18% decline from $10.6 million in Q1 2021. Product sales decreased 22% to $7.9 million, attributed to lower sales in Germany, hindered by high COVID-19 infections and currency fluctuations. However, product gross margins improved to 80%. The company maintains a solid financial position with $44.7 million in cash and no debt. Despite challenges, CytoSorbents is focused on growth, including expanding direct sales in the UK and Ireland, and clinical trials for new applications. The 2022 outlook has been revised due to reduced visibility.

CytoSorbents Corporation (NASDAQ: CTSO) has secured a 3-year preferred supplier agreement with Asklepios Group, a major private hospital operator in Germany. This partnership allows CytoSorb® to be available across approximately 170 healthcare facilities. Asklepios has been a pioneer in using CytoSorb during high-risk surgeries, enhancing clinical outcomes. The agreement positions CytoSorbents strategically among Germany's largest hospital chains, fostering business growth and improving patient care in critical settings.

On April 29, 2022, CytoSorbents Corporation (NASDAQ: CTSO) announced the enrollment of its first patient in the STAR-D clinical trial. This pivotal study seeks FDA approval for the DrugSorb™-ATR system, designed to remove apixaban and rivaroxaban during cardiothoracic surgery. Conducted at Virginia Commonwealth University, the trial aims to enroll 120 patients across 30 sites. The potential market for this application could exceed one billion dollars, addressing a significant unmet medical need as no other solutions currently exist for managing bleeding risks associated with direct oral anticoagulants.

CytoSorbents Corporation (NASDAQ: CTSO) announced its participation in the 10th EuroELSO Congress in London from May 4-6, 2022. The company will showcase its 'Enhanced Lung Rest' strategy using CytoSorb with ECMO to treat acute respiratory distress syndrome (ARDS). New clinical data involving 56 critically ill COVID-19 patients will be presented, highlighting CytoSorb's role in improving patient outcomes. The company is also hosting an educational symposium at the event to discuss these developments further.

CytoSorbents Corporation (NASDAQ: CTSO) will announce its first-quarter 2022 financial results on May 3, 2022, after market close. Management will host a conference call at 4:30 p.m. Eastern to discuss these results. The company specializes in blood purification technologies for critical care and cardiac surgery, with its flagship product, CytoSorb®, approved in the EU and distributed in over 70 countries. Additionally, CytoSorbents is conducting trials for its DrugSorb™-ATR system aimed at removing antithrombotic drugs during surgeries.