Cytosorbents Corp Stock Price, News & Analysis

CytoSorbents Corporation (NASDAQ: CTSO) announced that its CytoSorb® blood purification technology is now registered and commercially available in Singapore. This approval includes treatments for reducing cytokine storms, bilirubin in liver disease, and myoglobin in trauma cases, following European Union indications. The company expects increased demand due to Singapore's high prevalence of sepsis and cardiovascular diseases. The partnership with distributor Humedical aims to enhance patient care in the region. CytoSorb has been utilized in over 131,000 treatments globally.

CytoSorbents Corporation (NASDAQ: CTSO) has announced its participation in the UBS Global Healthcare Virtual Conference and the Oppenheimer MedTech, Tools, and Diagnostic Summit on May 26, 2021. The company will present an overview of its progress and outlook, along with conducting one-on-one meetings with investors. CytoSorbents specializes in blood purification technology, particularly its CytoSorb® product, which is approved in the EU and utilized in over 131,000 treatments globally.

CytoSorbents Corporation (NASDAQ: CTSO) secured a Defense Health Agency (DHA) Sequential Phase II Small Business Innovation Research (SBIR) contract worth $1.5 million to enhance its K⁺ontrol™ platform for treating severe hyperkalemia resulting from traumatic injuries. This follows prior Phase I and II successes, accumulating $1.15 million in funding. The technology aims to address life-threatening hyperkalemia in environments lacking modern medical facilities, providing critical treatment in emergencies, particularly for military and mass casualty scenarios.

CytoSorbents Corporation (NASDAQ: CTSO) reported a 22% revenue increase in Q1 2021, reaching $10.6 million, driven by a 24% growth in CytoSorb product sales to $10.1 million. The company achieved a gross profit margin of 77% and maintained a robust cash balance of $68.5 million. The FDA granted conditional approval for the STAR-T trial, aiming for U.S. regulatory approval. However, COVID-19 related sales dropped to $1.8 million from previous quarters, influenced by European lockdowns. CytoSorbents anticipates ongoing growth in non-COVID-19 business and new product applications.

CytoSorbents Corporation (NASDAQ: CTSO) will announce its Q1 2021 financial results on May 4, 2021, at 4:45 PM EST. The company specializes in blood purification technology, notably CytoSorb®, aimed at managing inflammation in critically ill patients. A live conference call will follow the results announcement, providing insights into operational and financial progress. CytoSorbents' technology has been utilized in over 121,000 treatments and is approved in the EU for various applications, including COVID-19 management.

CytoSorbents Corporation (NASDAQ: CTSO) announced that the FDA has granted conditional approval for its investigational device exemption (IDE) application to initiate the STAR-T trial. This trial focuses on removing ticagrelor, a potent antithrombotic, during cardiothoracic surgery to mitigate perioperative bleeding complications. The trial is expected to enhance CytoSorbents' U.S. commercialization strategy, targeting a market potential of $1 billion. The company aims to address all FDA conditions within 45 days and is prepared to move forward with clinical site engagements.

CytoSorbents Corporation (NASDAQ: CTSO) has announced the lease of a new global headquarters in Princeton, NJ, on March 26, 2021. The 15-year lease will encompass approximately 48,500 square feet at Princeton Forrestal Village and is set to commence on June 1, 2021. This facility will consolidate all U.S. operations, including manufacturing and research, and allow for production capacity expansion from $80 million to between $300-$400 million annually. This strategic move is aimed at supporting the company's growth and launching new product lines.

CytoSorbents Corporation (NASDAQ: CTSO) has filed an Investigational Device Exemption (IDE) application to conduct the STAR-T clinical study in the U.S., aiming for FDA approval regarding the removal of ticagrelor during cardiopulmonary bypass in cardiac surgeries. The filing follows the FDA's Breakthrough Designation granted for this purpose. The company anticipates completing discussions with the FDA by Q2 2021 and starting patient enrollment in the latter half of the year across multiple U.S. institutions interested in participating.

CytoSorbents Corporation (NASDAQ: CTSO), a leader in critical care immunotherapy, will present at the Oppenheimer 31st Annual Healthcare Conference on March 16, 2021, from 10:40 AM to 11:10 AM EST. CEO Dr. Phillip Chan will discuss the company’s advancements and future outlook. CytoSorbents specializes in blood purification technology, notably CytoSorb®, which is approved in the EU and used in 67 countries. The platform aims to mitigate severe inflammation in critically ill patients and during cardiac surgery, with over 121,000 treatments administered.