Cytosorbents Corp.
CTSOCytosorbents Corp. is a biomedical company specializing in the development and commercialization of blood purification technologies. Its flagship product, Cytosorb, is an innovative blood filter designed to remove toxins, inflammatory mediators, and other harmful substances from the bloodstream. The company focuses on applications in critical care, such as sepsis, trauma, and various inflammatory conditions, aiming to improve patient outcomes through its blood purification solutions.
Company News
CytoSorbents reported a 3% decrease in Q1 2025 revenue, but improved operating loss and net loss. The company is making progress with its DrugSorb-ATR device, which is under review by the FDA and Health Canada.
CytoSorbents Corporation received a denial letter from the FDA regarding its De Novo Request for DrugSorb-ATR, a device designed to reduce bleeding in CABG patients on the antiplatelet drug Brilinta. The company plans to continue working with the FDA to resolve the remaining issues and obtain regulatory approval.
CytoSorbents reported strong Q4 2024 preliminary results, with product revenue growth of 22-25% and gross margin improvement to 70%. However, the company's shares dipped despite the positive outlook, as it prepares to enter the North American market with its DrugSorb-ATR product pending regulatory approvals.
CytoSorbents Corporation reported strong preliminary Q4 2024 financial results, with product revenue growth estimated at 22-25% year-over-year and gross margin improving to around 70%. The company also provided updates on its regulatory progress for DrugSorb-ATR, an investigational device to reduce perioperative bleeding in CABG surgery patients.
CytoSorbents shares are trading 21% higher after the company entered into a new $20 million credit facility with Avenue Capital Group to support its CytoSorb® franchise and aid in FDA and Health Canada applications for DrugSorb™-ATR.
