STOCK TITAN

Cytosorbents Corp. - CTSO STOCK NEWS

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) is a prominent player in the field of critical care immunotherapy, with a strong focus on blood purification technologies. The company has made significant strides with its flagship product, CytoSorb®, which has received approval in the European Union and is distributed across 40 countries globally. CytoSorb® is an extracorporeal cytokine adsorber designed to mitigate the 'cytokine storm' or 'cytokine release syndrome' that can lead to severe inflammation, organ failure, and death in critical conditions such as sepsis, burn injuries, trauma, lung injuries, and pancreatitis. It is also employed in cancer immunotherapy and during cardiac surgeries to remove inflammatory mediators that may cause post-operative complications.

The core technology of CytoSorbents is based on biocompatible, highly porous polymer beads that efficiently purify the blood. Apart from CytoSorb®, the company offers other innovative products like ECOS-300CY, VetResQ, HemoDefend, and DrugSorb-ATR, which cater to different aspects of critical care and blood purification.

CytoSorbents operates through various segments, including Direct Sales, Distributors/Strategic Partners, and Government contracts. Its revenue is primarily driven by product sales, particularly in Germany, with additional income sourced from grants by agencies in the United States.

In Q3 2023, CytoSorbents reported a 20% growth in product sales, reaching $7.8 million, compared to $6.5 million in Q3 2022. The total revenue for the same quarter was approximately $8.8 million. The company is also advancing its pivotal STAR-T trial, with the database lock nearing completion and initial data analysis expected before the year's end.

For more detailed financial results and updates, investors can refer to the company’s official filings, such as the Form 10-K for the period ending December 31, 2023, and the Form 10-Q for the period ending March 31, 2024, available on the SEC website.

Rhea-AI Summary

CytoSorbents Corporation (NASDAQ: CTSO) announced a pivotal study published in Biomedicines demonstrating the early initiation of its CytoSorb technology in critically ill septic shock patients. The study showed a significant reduction in norepinephrine requirements (>50%) and lower in-hospital mortality rates (21.4% vs. 47.6%) among 42 patients treated with CytoSorb compared to matched controls. Early intervention, within 24 hours of ICU admission, was highlighted as crucial for enhancing survival outcomes. This research supports the continued evaluation of CytoSorb's effectiveness in critical care scenarios.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.18%
Tags
none
-
Rhea-AI Summary

On December 2, 2020, CytoSorbents Corporation (NASDAQ: CTSO) announced an international fundraising campaign to raise $100,000 for CARE USA, supporting its COVID-19 Emergency Fund. The campaign runs until January 31, 2021, coinciding with the company’s milestone of having shipped over 100,000 CytoSorb cartridges globally. CytoSorbents will match donations dollar-for-dollar, reinforcing its commitment to improving lives in communities it serves worldwide. The funds will aid programs focused on sanitation and education to combat the spread of COVID-19 and other diseases.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.09%
Tags
none
-
Rhea-AI Summary

On Nov 25, 2020, CytoSorbents Corporation (NASDAQ: CTSO) announced the publication of the largest case series using its CytoSorb blood purification technology in critically ill COVID-19 patients. This study, published in Artificial Organs, assessed 50 patients requiring renal replacement therapy. The findings revealed a 70% survival rate at 28 days post-ICU admission, with statistically significant improvements in key inflammatory markers after treatment. The CEO highlighted the relevance of the study amid ongoing COVID-19 surges, emphasizing the need for effective therapies during the pandemic.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.55%
Tags
covid-19
Rhea-AI Summary

CytoSorbents Corporation (NASDAQ: CTSO), a leader in critical care immunotherapy, announced its participation in the Piper Sandler 32nd Annual Healthcare Conference from November 23 to December 3, 2020. The company will hold 1x1 investor meetings from December 1-3. CytoSorbents specializes in blood purification using its flagship product, CytoSorb®, which addresses deadly inflammation in critically-ill patients and has been utilized in over 110,000 treatments globally. For more information, visit their website.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.12%
Tags
conferences
-
Rhea-AI Summary

CytoSorbents Corporation (NASDAQ: CTSO) announced it will present at the Jefferies Virtual London Healthcare Conference on November 17, 2020, showcasing its CytoSorb® blood purification technology. This technology targets deadly inflammation in critically ill patients. The presentation will occur from 2:40 PM to 3:10 PM GMT (9:40 AM to 10:10 AM EST). Investors can schedule one-on-one meetings via Jefferies. CytoSorb® has been applied in over 110,000 human treatments and received various CE-Mark label expansions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.73%
Tags
conferences
-
Rhea-AI Summary

CytoSorbents Corporation (CTSO) reported impressive Q3 2020 financial results with total revenue reaching approximately $10.5 million, a 73% increase from Q3 2019. Product revenues surged by 79% to $10.2 million. The gross margin improved sequentially to 74%, despite a slight decrease year-over-year. The company ended September with $88 million in cash, a significant increase compared to June. Operational highlights included over 110,000 CytoSorb treatments and a contract worth $4.4 million from the U.S. Department of Defense, aimed at advancing blood transfusion safety.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.96%
Tags
Rhea-AI Summary

CytoSorbents Corporation (CTSO) will announce its Q3 2020 financial results on November 4, 2020, after market close. The company specializes in critical care immunotherapy using its CytoSorb® technology for blood purification. Management will host a conference call at 4:45 PM Eastern on the same day to discuss operational and financial progress, which will be followed by a Q&A session. CytoSorb has been used in over 100,000 human treatments and is approved in the EU and 65 countries globally.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.42%
Tags
conferences earnings
-
Rhea-AI Summary

CytoSorbents Corporation (NASDAQ: CTSO) and Aferetica have received European Union approval for their innovative PerLife™ ex vivo organ perfusion system and ECOS-300CY™ sorbent cartridge. This integrated system aims to enhance the preservation and quality of kidneys and livers prior to transplant. The commercial launch is planned for Italy this quarter. The PerLife system is designed to remove inflammatory mediators, thereby increasing the success rates of solid organ transplants amid rising global demand due to health crises like diabetes and obesity.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.48%
Tags
none
-
Rhea-AI Summary

CytoSorbents Corporation (NASDAQ: CTSO) has been awarded a two-year SBIR Sequential Phase II contract valued at $1,098,588 by the U.S. Army Medical Research Acquisition Activity. The funding aims to optimize the development of the HemoDefend-BGA™ adsorber, capable of removing over 99% of blood group antibodies to create a 'universal plasma' for emergency treatment. This follows prior contracts totaling approximately $7.5 million to enhance their blood purification technologies, which are crucial for treating critically ill patients.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.61%
Tags
none
Rhea-AI Summary

CytoSorbents Corporation (NASDAQ: CTSO) has announced that its blood purification technology, CytoSorb, has received medical device registration from Brazil's Health Regulatory Agency (ANVISA). This allows CytoSorb to be commercially available in Brazil for treating cytokine storm in critical illnesses and cardiac surgery, particularly amid the COVID-19 crisis. CytoSorb will be distributed by Contatti Medical, a local company with extensive experience in healthcare solutions. The partnership is expected to address the high incidence of heart disease and sepsis prevalent in Brazil.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.81%
Tags
covid-19

FAQ

What is the current stock price of Cytosorbents (CTSO)?

The current stock price of Cytosorbents (CTSO) is $1.017 as of October 31, 2024.

What is the market cap of Cytosorbents (CTSO)?

The market cap of Cytosorbents (CTSO) is approximately 55.0M.

What is CytoSorbents Corporation's primary focus?

CytoSorbents focuses on critical care immunotherapy and blood purification technologies, particularly for treating life-threatening conditions.

What is CytoSorb®?

CytoSorb® is an extracorporeal cytokine adsorber used to reduce severe inflammation and prevent organ failure in critical illnesses.

In which regions is CytoSorb® approved?

CytoSorb® is approved in the European Union and distributed in 40 countries worldwide.

What was CytoSorbents' product sales growth in Q3 2023?

Product sales grew 20% to $7.8 million in Q3 2023 compared to $6.5 million in Q3 2022.

What are some other products offered by CytoSorbents?

In addition to CytoSorb®, CytoSorbents offers products like ECOS-300CY, VetResQ, HemoDefend, and DrugSorb-ATR.

Where does CytoSorbents generate most of its revenue?

Most revenue comes from product sales in Germany, with additional income from U.S. government grants.

What are the main segments through which CytoSorbents operates?

CytoSorbents operates through Direct Sales, Distributors/Strategic Partners, and Government segments.

What are the latest developments in CytoSorbents’ STAR-T trial?

The STAR-T trial remains blinded, with a database lock nearing and initial data analysis expected before the end of the year.

Where can investors find detailed financial results for CytoSorbents?

Detailed financial results can be found in the company's Form 10-K and Form 10-Q filings available on the SEC website.

Who should be contacted for investor relations at CytoSorbents?

For investor relations, contact Eric Ribner at LifeSci Advisors, LLC.

Cytosorbents Corp.

Nasdaq:CTSO

CTSO Rankings

CTSO Stock Data

54.97M
54.43M
3.84%
34.67%
2.48%
Medical Devices
Surgical & Medical Instruments & Apparatus
Link
United States of America
PRINCETON