Welcome to our dedicated page for Cytosorbents SEC filings (Ticker: CTSO), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Cytosorbents Corporation filings document the company's public reporting as a Nasdaq-listed medical technology issuer with common stock registered under Section 12(b). Recent Form 8-K filings furnish results of operations and financial condition, press release exhibits, Regulation FD disclosures, and other event reports tied to the company's blood purification business.
The filing record also documents regulatory disclosure categories for DrugSorb®-ATR, including FDA and Health Canada communications, De Novo market authorization matters, and related supervisory review or reconsideration processes. Other filings address Nasdaq continued-listing compliance under minimum bid price rules, credit-facility and balance-sheet disclosures reported with earnings releases, and the exhibits that support material corporate updates.
CytoSorbents Corporation is soliciting proxies for its virtual 2026 Annual Meeting of Stockholders to be held on August 13, 2026 at 10:00 a.m. Eastern Time. The Board asks holders to vote on five proposals: election of five directors, a non-binding advisory vote on executive compensation, ratification of WithumSmith+Brown, PC as auditor, a reverse stock split authorizing a ratio between 1-for-5 and 1-for-20, and an adjournment proposal.
The proxy materials and the Annual Report for the fiscal year ended December 31, 2025 are available at www.proxyvote.com. The reverse split is presented to help the Company meet Nasdaq’s minimum bid price requirement of $1.00; Nasdaq granted an extension until September 28, 2026 after a notice dated October 2, 2025. The Certificate of Incorporation authorizes 105,000,000 total shares (100,000,000 common; 5,000,000 preferred). Voting mechanics, broker voting rules, fractional-share treatment (round up), and certain tax and accounting consequences of the reverse split are described in the Proxy Statement.
CytoSorbents Corporation reported Q1 2026 results showing modest revenue growth but a larger loss and tight liquidity. Revenue was $8.9 million, up slightly from $8.7 million a year ago, with gross margin at 69%. Operating expenses fell to $9.2 million from $10.1 million, mainly from lower R&D and cost-cutting, reducing the operating loss to $3.0 million from $3.9 million.
However, a $1.2 million foreign currency loss and higher interest expense widened net loss to $5.1 million, or $0.08 per share, versus $1.5 million, or $0.02 per share, in Q1 2025. Cash, cash equivalents and restricted cash totaled $6.3 million as of March 31, 2026, including $4.8 million of unrestricted cash, against $18.4 million of Avenue Capital debt maturing in 2027.
The company discloses that these cash levels, together with ongoing cash use in operations, raise “substantial doubt” about its ability to continue as a going concern over the next 12 months. Management is pursuing a Strategic Workforce and Cost Reduction Plan, has cut headcount by about 10%, and is seeking additional financing while continuing to work toward FDA De Novo approval of its DrugSorb-ATR device.
CytoSorbents Corporation reported first quarter 2026 revenue of $8.9 million, roughly flat year over year, with 13% growth in direct markets outside Germany and slightly lower sales in Germany on a leaner sales team. Distributor sales were unchanged as delayed orders of about $0.5 million in parts of the Middle East offset progress elsewhere.
Gross margin was 69%, down slightly as the company deliberately reduced production to lower inventory and improve working capital. A late-2025 cost reduction that cut headcount by about 10% helped trim operating expenses, though net loss widened to $5.1 million, or $0.08 per share, versus a $1.5 million loss a year earlier. Adjusted EBITDA improved modestly to a loss of $2.2 million.
The company outlined its U.S. regulatory strategy for the DrugSorb-ATR device. After an FDA appeal maintained a prior denial but raised no safety concerns, CytoSorbents plans a new De Novo application for use with Brilinta, targeting submission in late 2026 or early 2027, and is preparing a separate pre-submission for a potential DOAC indication. Management reiterated its goal of reaching operating cash flow breakeven in the second half of 2026 while navigating temporary geopolitical headwinds and expanding its commercial footprint.
CytoSorbents Corporation filed an amended annual report on Form 10‑K/A to add Part III information and update officer certifications, without changing prior financial statements. The amendment provides detailed disclosures on board composition, committee structures, director independence, executive and director compensation, equity plans, and security ownership.
As of June 30, 2025, non‑affiliate common stock had an aggregate market value of about $60.6 million, and approximately 62.7 million shares of common stock were outstanding as of March 20, 2026. The filing also confirms there were no related party transactions above required disclosure thresholds in 2025 and 2024 and outlines auditor fees and pre‑approval policies.
CytoSorbents Corporation received a 180-day extension from Nasdaq, until September 28, 2026, to regain compliance with the $1.00 minimum bid price requirement for its common stock. The company will regain compliance if its share price closes at or above $1.00 for at least 10 consecutive trading days before that date.
The notice has no immediate effect on the Nasdaq listing or SEC reporting, but the company warns there is no assurance it will regain compliance and its stock could be delisted. CytoSorbents is monitoring its share price and is considering options to address the deficiency, including a possible reverse stock split.
CytoSorbents Corporation focuses on blood purification technologies for critical care and cardiac surgery, built around highly porous polymer bead cartridges used with standard hospital blood pumps. Its flagship CytoSorb device is approved in the European Union and distributed in more than 70 countries, with over 300,000 devices used and cumulative sales of about $285.3 million.
The company is pursuing North American approval of DrugSorb‑ATR to remove antithrombotic drugs during coronary artery bypass graft surgery. A pivotal STAR‑T trial showed safety and reduced perioperative bleeding in urgent CABG patients on ticagrelor, but the FDA denied the initial De Novo request in 2025, asking for more information; CytoSorbents is preparing a new submission after further discussions. Health Canada also refused the initial license, with resubmission planned after U.S. clarity.
CytoSorbents supplements product revenue with about $44.0 million of cumulative non‑dilutive grants for programs like HemoDefend‑BGA and hyperkalemia adsorbers, and records a 3% royalty on specified products, totaling roughly $1.1 million in 2025. As of June 30, 2025, non‑affiliate market value was approximately $60.6 million, with about 62.7 million common shares outstanding as of March 20, 2026.
CytoSorbents Corporation reported modest revenue growth and a sharply reduced loss for 2025. Full-year revenue rose 4% to $37.1 million, with Q4 revenue of $9.2 million. Gross profit increased to $26.5 million, driven by higher sales outside Germany and distributor growth.
The net loss narrowed to $8.2 million from $20.7 million in 2024, helped by lower research and development spending and a favorable foreign currency impact. The company ended 2025 with $6.2 million in cash and cash equivalents and total stockholders’ equity of $5.9 million, while long-term debt rose to $16.7 million. Management implemented a 10% headcount reduction and other cost measures and now anticipates achieving cash flow breakeven in the second half of 2026, while continuing to pursue FDA De Novo authorization for DrugSorb-ATR.
Avenir Corporation and James H. Rooney report significant ownership in Cytosorbents Corp. They disclose beneficial ownership of 5,230,099 shares of Cytosorbents common stock, representing about 8.3% of the outstanding class.
The filing states they share voting and dispositive power over these shares. Avenir is described as a Virginia-based investment adviser, and Rooney is its portfolio manager and shareholder. They certify the position was acquired and is held in the ordinary course of business and not for the purpose of changing or influencing control of Cytosorbents.
Cytosorbents Corp (CTSO) reported that its Chief Executive Officer and director, Phillip P. Chan, acquired additional company stock in an open market transaction. On 11/18/2025, he purchased 100,000 shares of Common Stock at a price of $0.64 per share. Following this transaction, he beneficially owns 1,482,963 shares, reflecting both directly owned shares and various restricted stock units (RSUs).
The footnotes explain that his holdings include multiple RSU grants that either vest upon a "Change In Control" under the company’s 2014 Long-Term Incentive Plan or in equal parts on the first and second anniversaries of their grant dates, subject to continued service. His position also includes 1,113,363 shares of Common Stock owned outright.
CytoSorbents Corporation announced that it issued a press release with financial results for the quarter ended September 30, 2025. The press release is furnished as Exhibit 99.1 under Item 2.02.
The company states this information is furnished, not filed, and is not subject to Section 18 of the Exchange Act, nor incorporated by reference into other filings except as specifically stated.