Welcome to our dedicated page for Cytosorbents news (Ticker: CTSO), a resource for investors and traders seeking the latest updates and insights on Cytosorbents stock.
CytoSorbents Corporation (NASDAQ: CTSO) generates frequent news flow around its blood purification technologies for intensive care and cardiac surgery. Company updates often center on clinical data, regulatory milestones, and commercial progress for its lead product CytoSorb® and its investigational DrugSorb™-ATR antithrombotic removal system.
Investors following CTSO news can expect announcements on quarterly and annual financial results, including revenue trends, gross margins, and cash flow initiatives, as seen in recent preliminary and reported results. Regulatory developments are another major theme, with detailed disclosures on the De Novo pathway for DrugSorb‑ATR, FDA appeal outcomes, pre‑submission meetings, and anticipated review timelines, as well as interactions with Health Canada.
CytoSorbents also issues news on scientific and medical events, such as presentations at major healthcare and cardiothoracic surgery conferences, company‑sponsored symposia, and global webinars on topics like sepsis and septic shock. These releases highlight new randomized trial results, real‑world evidence, and meta‑analyses involving CytoSorb and DrugSorb‑ATR, along with educational efforts aimed at clinicians in critical care and cardiac surgery.
Additional coverage includes participation in investor conferences, amendments to credit agreements, and workforce and cost reduction programs intended to influence the company’s financial trajectory. For readers tracking CTSO stock, the news stream provides insight into how CytoSorbents is advancing its blood purification platform, pursuing regulatory approvals, and expanding clinical adoption across high‑risk ICU and surgical indications. Bookmark this page to review the latest press releases, event notices, and business updates related to CytoSorbents.
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.
CytoSorbents Corporation (NASDAQ: CTSO) has established a new subsidiary in the UK, aiming to directly sell its blood purification product, CytoSorb®, in the UK and Ireland. Previously, the product was sold through distributors. The UK represents a significant market, being the third largest for medical devices in Europe. The company has appointed Shaun Whittemore as Country Manager for UK and Ireland to spearhead market development. CytoSorbents will now directly operate in 15 countries and plans to collaborate with the NHS to improve awareness of its technology.
CytoSorbents Corporation (NASDAQ: CTSO) announced receipt of approximately $740,000 in cash from the New Jersey Economic Development Authority's Technology Business Tax Certificate Transfer Program, following the sale of its 2020 Net Operating Loss (NOL) and R&D tax credits. CFO Kathleen Bloch emphasized that this non-dilutive funding will enhance cash reserves, support global clinical trials, and expand manufacturing in Princeton, NJ. The company intends to continue participating in this program, demonstrating its commitment to developing life-saving technologies.
CytoSorbents Corporation (NASDAQ: CTSO) has appointed Jiny Kim, MBA, to its Board of Directors as an independent director, effective immediately. With extensive experience in the medical device industry from roles at major companies like Zimmer Biomet and Johnson & Johnson, Kim is expected to enhance the Board's capabilities amid the company's push for U.S. expansion and international growth. Her expertise in commercialization and product management will be pivotal as CytoSorbents advances its blood purification technologies, including DrugSorb™-ATR.
CytoSorbents Corporation (NASDAQ: CTSO) will participate in ISICEM 2022, a prominent symposium in Brussels, from March 22-25. The company will present new data from the CytoSorb Therapy in COVID-19 Multicenter Registry, sharing insights on treatment efficacy among critically ill patients. As part of its sponsorship, CytoSorbents is hosting an educational symposium on March 24, discussing hemoadsorption therapy. The CTC Registry has successfully enrolled 100 patients, confirming high survival rates in this cohort, further validating its innovative blood purification technologies.
CytoSorbents Corporation (NASDAQ: CTSO) announced its financial results for 2021, reporting a total revenue of $43.2 million, a 5% increase from 2020. Product sales reached $40.1 million, with core non-COVID-19 sales rising by 13% to $33.8 million. However, Q4 2021 revenue dropped 10% year-over-year to $10.8 million. The company incurred a 36% rise in operating expenses to $54.9 million. Looking forward, CTSO anticipates over 20% growth in core product sales for 2022 despite the impact of the ongoing pandemic and the Russia-Ukraine conflict.
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