Cytosorbents Corp Stock Price, News & Analysis

On December 20, 2021, CytoSorbents Corporation (NASDAQ: CTSO) announced the publication of results from its U.S. CytoSorb Therapy in COVID-19 retrospective registry in the Frontiers in Medicine. The study covered 52 critically ill COVID-19 patients on ECMO who received CytoSorb therapy, showing a 90-day ICU mortality rate of 26.9%, significantly lower than the typical rate of 50%. All participating centers reported that CytoSorb was well-integrated and well-tolerated. The results support the potential of CytoSorb to enhance recovery in severely ill patients while emphasizing timely intervention.

CytoSorbents Corporation (NASDAQ: CTSO) announces its participation in two major investor conferences. The Canaccord Genuity Virtual MedTech Forum will feature CEO Dr. Phillip Chan on November 18, 2021, at 11:00 a.m. ET. A second presentation is scheduled for the Jefferies London Healthcare Conference on the same day, available on-demand starting at 3:00 a.m. ET. An archive of both presentations will be available for 30 days on their website. CytoSorbents specializes in blood purification technologies to treat critical illnesses and is effective in over 70 countries.

CytoSorbents Corporation (NASDAQ: CTSO) reported Q3 2021 revenue of $9.8 million, a 7% decline compared to Q3 2020. Product sales fell 13% to $8.9 million, impacted by a 24% drop in Germany due to COVID-19 restrictions. However, core non-COVID-19 product sales rose 3% to $7.8 million. The company holds $61 million in cash with no debt and maintains its 2021 revenue guidance of at least $39.3 million. Recent trials and FDA designations signal potential future growth despite pandemic challenges.

CytoSorbents Corporation (NASDAQ: CTSO) provided insights following the presentation of the REMOVE study results at the EACTS annual meeting on October 16, 2021. The study aimed to evaluate the safety and efficacy of CytoSorb in cardiac surgery patients with infective endocarditis. Though the primary outcome was neutral, the study showed CytoSorb's potential to reduce cytokines without adverse effects. Future analyses will target identifying specific patient populations that may benefit from this therapy. The company remains focused on advancing its clinical programs based on these findings.

CytoSorbents Corporation (NASDAQ: CTSO) has announced the enrollment of the first patient in its STAR-T trial, a pivotal study aimed at obtaining FDA approval for the DrugSorb-ATR™ system. This double-blind, randomized, controlled trial will evaluate the system's efficacy in removing the antiplatelet drug ticagrelor during cardiothoracic surgery to mitigate bleeding risks. The STAR-T trial received full FDA IDE approval in July 2021 and aims to enroll 120 patients across 20 sites, expected to finish by 2022. The initiative addresses a critical medical need in cardiac surgery.

CytoSorbents Corporation (NASDAQ: CTSO) announced the FDA's full approval of its Investigational Device Exemption (IDE) for the STAR-D trial, aimed at evaluating the DrugSorb-ATR system's efficacy in removing direct oral anticoagulants (DOACs) during urgent cardiothoracic surgery. The trial targets up to 120 patients across 25 sites and is a pivotal step in supporting FDA marketing approval. This follows the FDA's Breakthrough Device Designation for the DrugSorb-ATR system, which addresses a significant market need in a potential $1 billion U.S. market for DOAC removal during surgeries.

CytoSorbents Corporation (NASDAQ: CTSO) announced preliminary Q3 2021 financial results reflecting a total revenue of $9.7 million, down 8% year-over-year. CytoSorb product sales were $8.9 million, a 13% decline, driven mainly by adverse pandemic conditions in Germany, which saw a significant drop in elective surgeries and COVID-19 related sales. The company revised its 2021 product revenue guidance, anticipating Q4 product revenue to match Q3 levels. Despite challenges, CytoSorbents maintains a strong cash position of $61 million and focuses on diversifying revenue streams.

CytoSorbents Corporation (NASDAQ: CTSO) has announced preliminary data from two endocarditis studies, including the REMOVE study, to be presented at the EACTS annual meeting in Barcelona from October 13-16, 2021. The REMOVE study, involving 288 patients, showed that while hemoadsorption using CytoSorb reduced plasma cytokines, it did not decrease post-operative organ dysfunction or mortality rates. A separate retrospective study found CytoSorb use correlated with lower sepsis-related mortality. However, both studies are preliminary, and further analysis is expected.

CytoSorbents Corporation (NASDAQ: CTSO) will host a live webinar on September 16, 2021, at 11 a.m. EDT to discuss the use of CytoSorb blood purification therapy in critically ill COVID-19 patients. The webinar will present data from seven studies on over 215 patients, showcasing a 73% survival rate in a U.S. multicenter registry utilizing CytoSorb with ECMO. Notable clinical outcomes include reductions in inflammatory markers and improvements in lung function. This therapy aims to mitigate cytokine storms and enhance survival chances in severe cases.