Cytosorbents Corp Stock Price, News & Analysis

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.

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.

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.

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.

CytoSorbents Corporation (NASDAQ: CTSO) emphasizes its commitment to combating sepsis during Sepsis Awareness Month and World Sepsis Day on September 13, 2020. The company highlights the role of its CytoSorb® blood purification technology in treating sepsis caused by cytokine storms, which affects millions globally. CEO Dr. Phillip Chan points out that sepsis from everyday infections causes 11 million deaths annually. CytoSorbents is also actively involved in sponsoring sepsis awareness events and educational initiatives.

CytoSorbents Corporation (NASDAQ: CTSO) announced the launch of its 'CytoSorb Therapy in COVID-19 ICU Patients' (CTC) Registry, aimed at collecting clinical outcomes data on critically-ill COVID-19 patients treated with its CytoSorb technology. The registry, which is actively enrolling patients at multiple U.S. centers, including the University of Chicago Medicine, seeks to improve the understanding and effectiveness of CytoSorb therapy in managing cytokine storms. The technology has received FDA Emergency Use Authorization for specific applications in COVID-19 patients.

Terumo Cardiovascular and CytoSorbents Corporation (CTSO) announced a collaboration to exclusively sell CytoSorb therapy to hospitals in ten U.S. COVID-19 hotspot states. The therapy is intended for critically ill COVID-19 patients and has received Emergency Use Authorization (EUA) from the FDA. Terumo will facilitate access to CytoSorb, while CytoSorbents will provide clinical support and training. This partnership aims to address rising hospital admissions due to severe COVID-19 infections, enhancing availability of CytoSorb, which has treated over 1,200 patients worldwide.

CytoSorbents Corporation (NASDAQ: CTSO) announced partnerships with InvoSurg Inc. and Surgical Partners to distribute its CytoSorb® device authorized under FDA Emergency Use Authorization for critically-ill COVID-19 patients. These collaborations will expand CytoSorb's availability across 15 states in the U.S., particularly in Florida and the Northeast. The partnerships aim to address the urgent needs of COVID-19 patients facing respiratory failure, following promising initial use of the device since its EUA granting in April 2020.

CytoSorbents Corporation (CTSO) reported Q2 2020 revenue of approximately $9.8 million, marking a 58% increase year-over-year. Product revenues were around $9.5 million, up 61% from Q2 2019. The company generated about $667,000 in sales tied to COVID-19 treatments following FDA Emergency Use Authorization. Cash reserves grew to approximately $89 million after a July equity financing, which enhances growth capital for clinical trials and production. CytoSorbents achieved over 100,000 treatments globally and expanded distribution to 65 countries.