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CytoSorbents Corporation (NASDAQ: CTSO) develops life-saving blood purification technologies for critical care and cardiac surgery patients. This dedicated news hub provides investors and medical professionals with essential updates about the company’s clinical advancements, regulatory milestones, and strategic initiatives.
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Bookmark this page to monitor CTSO’s progress in advancing critical care solutions while staying informed about financial performance and market positioning. Check regularly for verified updates directly from corporate communications and trusted financial news sources.
CytoSorbents (NASDAQ: CTSO) reported strong Q4 2024 results with product revenue of $9.2M, up 25% from Q4 2023. Full-year 2024 product revenue reached $35.6M, a 15% increase year-over-year, with 71% product gross margins.
Q4 operating loss improved 61% to $3.7M, while net loss was $7.6M ($0.14/share). The company strengthened its balance sheet through a successful Rights Offering, raising $7.3M in net proceeds.
Key developments include FDA's acceptance of DrugSorb-ATR De Novo application and submission to Health Canada, with regulatory decisions expected in 2025. The company reported strong international growth with 28% increase in direct sales outside Germany and 22% growth in Distributor/Partner sales, though German sales remained flat.
Management expects Q1 2025 product sales to decline modestly due to German sales team restructuring, but anticipates improved results in H2 2025 as they work toward breakeven in core business.
CytoSorbents (NASDAQ: CTSO) has rescheduled its Q4 and full year 2024 earnings release to March 31, 2025, to complete the annual financial audit. The company reaffirms its preliminary financial results, projecting:
- Q4 2024 product revenue of $9.0-9.2 million (22-25% growth vs Q4 2023)
- Full-year 2024 product revenue of $35.4-35.6 million (14% growth vs 2023)
- Q4 2024 product gross margin of ~70%
The company raised $7.85 million in Q1 2025 through a Rights Offering and warrant exercises, with net proceeds of $7.3 million. The pro-forma cash balance as of December 31, 2024, would have been approximately $17.0 million, including unrestricted cash of $15.5 million. Q4 2024 cash burn was approximately $2.5 million. Regulatory decisions for DrugSorb-ATR marketing applications from FDA and Health Canada are expected in 2025.
CytoSorbents (NASDAQ: CTSO) has postponed its Q4 and full-year 2024 earnings release from March 6 to March 25, 2025, following the unexpected passing of VP and Corporate Controller James E. Cason, Jr. The company reaffirmed its preliminary financial results, including:
- Q4 2024 product revenue of $9.0-9.2M (22-25% growth vs Q4 2023)
- Full-year 2024 product revenue of $35.4-35.6M (14% growth vs 2023)
- Q4 2024 product gross margin of ~70%
The company raised $7.85M in gross proceeds in Q1 2025 through a Rights Offering and warrant exercises. Pro-forma cash balance as of December 31, 2024, would have been approximately $17.0M, including $15.5M in unrestricted cash. Q4 2024 net cash burn was approximately $2.5M. Regulatory decisions for DrugSorb-ATR are expected from FDA and Health Canada in 2025.
CytoSorbents (NASDAQ: CTSO), specializing in blood purification for critical care and cardiac surgery, has scheduled its Fourth Quarter and Full Year 2024 financial results announcement for March 6, 2025 after market close.
The company will host a conference call and webcast at 4:30 PM ET the same day, featuring management presentations and a Q&A session. Participants can join via North American toll-free (1-800-836-8184) or International toll (1-646-357-8785) numbers.
CytoSorbents announced the exercise of 1,417,208 Series A Right Warrants at $1.13 per share, generating $1.6 million in gross proceeds. This follows a previous Rights Offering, bringing total gross proceeds to $7.85 million, including $6.25 million raised on January 10, 2025. The company now has approximately $12.3 million in net liquidity, post-offering fees.
The exercise price was based on 90% of the 5-day volume-weighted average price of $1.2589 per share, with a cap of $2.00. Shareholders, including management and the Board, exercised these warrants and will receive shares along with a refund of $0.87 per warrant.
Additionally, CytoSorbents is progressing with its DrugSorb-ATR marketing applications with the FDA and Health Canada, expecting regulatory decisions in 2025. The company also highlighted the availability of approximately 4.8 million shares for the exercise of Series B Right Warrants, which expire on April 10, 2025, with an exercise price range of $2.00 to $4.00.
CytoSorbents (NASDAQ: CTSO) has successfully closed its oversubscribed rights offering, raising $6.25 million in gross proceeds through the sale of 6,250,000 Units. Each Unit includes one common stock share and two warrants (Series A and B). The offering was oversubscribed by 68% with total demand of 10,514,896 Units.
The proceeds satisfy a debt covenant, unlocking $5.0 million in restricted cash. This strengthens the company's balance sheet with approximately $10.8 million in net liquidity after offering fees. The company's preliminary Q4 2024 cash burn was $2.6 million, with estimated cash and equivalents of $9.6 million as of December 31, 2024. The pro-forma cash balance after the offering would be approximately $15.4 million.
CytoSorbents (NASDAQ: CTSO) has announced the opening of a new regional sales subsidiary in Dubai, United Arab Emirates. The subsidiary, located in Dubai's Science Park, will serve as a gateway to the Middle East and Africa markets, where demand for advanced medical technologies in critical care and cardiac surgery is growing.
The strategic location was chosen for its strong economy, favorable tax policies, advanced infrastructure, well-developed healthcare system, and supportive economic and regulatory environment. The new commercial office will function as a hub for regional sales, business development, training, customer support, and regulatory affairs.
The expansion aims to strengthen existing partnerships, enhance customer interactions, forge new alliances, and drive long-term value creation in these rapidly growing healthcare markets.
CytoSorbents (NASDAQ: CTSO) has announced preliminary Q4 and full-year 2024 financial results. The company estimates Q4 product revenue between $9.0-9.2 million, representing 22-25% growth compared to Q4 2023. Full-year 2024 product revenue is expected to reach $35.4-35.6 million, a 14% increase from 2023.
Q4 product gross margin improved to approximately 70%, up from 61% in Q3 2024, following the resolution of production slowdown and manufacturing issues. The company has initiated a rights offering ending January 10, 2025. FDA and Health Canada reviews are ongoing for DrugSorb™-ATR, their device aimed at reducing perioperative bleeding in CABG surgery patients on Brilinta®, with regulatory decisions expected in 2025.
CytoSorbents (NASDAQ: CTSO) has initiated its previously announced Rights Offering. Stockholders and certain Warrantholders of record as of December 16, 2024, will receive one non-transferable Subscription Right Warrant for each share owned. Each Subscription Right allows the purchase of one Unit at $1.00, comprising one common stock share and two transferable short-term Right Warrants for additional shares at discounted prices.
The offering expires at 5:00 PM EST on January 10, 2025. Stockholders can exercise all, some, or none of their rights. Those exercising all basic subscription rights can participate in oversubscription of unsubscribed rights. D.F. King & Co., Inc. serves as the information agent, while Moody Capital Solutions, Inc. acts as dealer manager.
CytoSorbents (NASDAQ: CTSO), a specialist in blood purification for critical care and cardiac surgery, has announced plans to conduct in-person investor meetings in San Francisco during the 43rd Annual J.P. Morgan Healthcare Conference from January 13-15, 2025. The meetings will be coordinated by ICR Healthcare, offering investors the opportunity to meet with CEO Dr. Phillip Chan and CFO Peter J. Mariani. Interested parties can schedule meetings by contacting ICR Healthcare at ir@cytosorbents.com.
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