Cytosorbents Corp Stock Price, News & Analysis

CytoSorbents Corporation (NASDAQ: CTSO) has appointed James Komsa as the new Vice President of U.S. Sales and Marketing. Komsa, a veteran from Medtronic with over 18 years of experience, previously led multiple divisions generating substantial annual sales. He aims to enhance the CytoSorb brand and focus on expanding its critical care applications, particularly for ticagrelor removal in cardiothoracic surgeries. The company is targeting a potential $250 million U.S. market as it leverages FDA Emergency Use Authorization for COVID-19 treatments.

CytoSorbents Corporation (NASDAQ: CTSO) announced that Health Canada has granted Medical Device Authorization for the emergency use and sale of CytoSorb in hospitalized COVID-19 patients. This authorization allows for the therapy's distribution in Canada and expands its reach to 67 countries worldwide. CytoSorbents aims to collaborate with ebbtides medical to ensure rapid availability of the treatment. The authorization is valid until Fall 2021 but may be renewed based on public health needs. CytoSorb has previously received U.S. FDA Emergency Use Authorization.

CytoSorbents Corporation (NASDAQ: CTSO) has appointed Dr. Christian Steiner as Executive Vice President - Sales and Marketing. With over nine years at the company, Dr. Steiner has been pivotal in establishing CytoSorb as a market leader, contributing to more than $100 million in cumulative sales. Currently, the company boasts an annualized revenue run rate exceeding $40 million, with CytoSorb treatments delivered to over 110,000 patients across 66 countries. Dr. Steiner's leadership is expected to further enhance growth and innovation in critical care immunotherapy.

CytoSorbents Corporation (NASDAQ: CTSO) announced on December 10, 2020, that it has repaid its $15 million term loans and secured a new $15 million loan commitment from Bridge Bank. The repayment follows a successful $57.5 million equity raise in July 2020, positioning the company to meet its cash needs for the foreseeable future. The new term loan bears interest at a variable rate and provides CytoSorbents flexibility for future expansion. This structured approach will help mitigate interest expenses and supports the company’s ongoing development in critical care immunotherapy.

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.

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.

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.

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.

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.