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 develops blood purification technologies for life-threatening conditions in intensive care and cardiac surgery. Its lead product, CytoSorb®, is approved in the European Union, distributed internationally, and used for cytokine adsorption and CE-marked applications that include bilirubin, myoglobin, ticagrelor, and rivaroxaban removal; in the United States it has FDA Emergency Use Authorization for adult critically ill COVID-19 patients with respiratory failure and is not otherwise approved or cleared.
Company updates commonly address quarterly and annual results, gross margin and balance-sheet actions, product launches such as HotSwap™, distribution partnerships, clinical evidence for CytoSorb therapy, and regulatory work around the investigational DrugSorb®-ATR antithrombotic removal system. The product portfolio also includes ECOS-300CY®, CytoSorb-XL™, HemoDefend-RBC™, HemoDefend-BGA™, VetResQ®, K+ontrol™, ContrastSorb, PuriFi®, and related 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.
On February 8, 2022, CytoSorbents Corporation (NASDAQ: CTSO) announced it will release its fourth quarter and full year 2021 financial results after market close on March 8, 2022. The management will host a conference call at 4:30 p.m. Eastern on the same day, providing insights into its operations. CytoSorbents specializes in treating critical conditions using blood purification technologies, with its flagship product, CytoSorb, actively used in over 70 countries.
CytoSorbents Corporation (NASDAQ: CTSO), a leader in blood purification for life-threatening conditions, announced its participation in two virtual investor conferences. CEO Dr. Phillip Chan will engage in a fireside chat at the 11th Annual SVB Leerink Global Healthcare Conference on February 17, 2022, at 10:00 a.m. ET, with a live webcast available. He will also participate at the Cowen 42nd Annual Health Care Conference on March 9, 2022, at 2:10 p.m. ET. Recordings of the conferences will be available on the company's website for 30 days.
CytoSorbents Corporation (NASDAQ: CTSO) announced the enrollment of the first patient in the PROCYSS trial, aimed at evaluating the efficacy of CytoSorb in treating refractory septic shock. Conducted in Germany, this multicenter, randomized controlled trial is designed to enroll up to 160 patients across 20 sites and is expected to be completed by the end of 2023. The trial will assess CytoSorb's ability to restore hemodynamic stability in patients suffering from this critical condition, potentially paving the way for improved treatment protocols in critical care.
On January 24, 2022, CytoSorbents Corporation (NASDAQ: CTSO) announced a new publication in Annals of Thoracic and Cardiovascular Surgery, reporting the efficacy of their hemoadsorption technology in reducing bleeding complications during urgent aortic dissection surgeries. A study involving 171 patients showed that among those treated with hemoadsorption, 30-day mortality was lower at 10% compared to 27.3% without treatment. The technology also resulted in fewer re-operations and a reduced ICU stay from 9 days to 4 days, highlighting its potential to improve patient outcomes.
CytoSorbents Corporation (NASDAQ: CTSO) released a stockholder letter and reported preliminary unaudited results for Q4 and full year 2021, showing total revenue of approximately $43.2 million, slightly up from $41.0 million in 2020. The total treatments delivered exceeded 162,000, marking a 34% increase. Q4 revenue was $10.8 million compared to $12.0 million in Q4 2020. The company has a strong cash balance of approximately $54 million and is set to renew a $15 million term loan. CytoSorb's core (non-COVID-19) product revenue rose by 13% in 2021.
On December 21, 2021, CytoSorbents Corporation (NASDAQ: CTSO) announced the appointment of Professor Daniel Wendt, MD, PhD, MHBA, FETCS, as Vice President of Medical Affairs Cardiovascular, effective January 1, 2022. Dr. Wendt is a seasoned cardiac surgeon with over 15 years of experience and a track record in complex cardiovascular care. He will oversee cardiovascular medical affairs and contribute to the company’s clinical trial strategies for CytoSorb, a device approved in the EU for removing harmful cytokines during cardiac procedures.
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.