Cytosorbents Corp Stock Price, News & Analysis

CytoSorbents Corporation (NASDAQ: CTSO) has received full FDA approval for its Investigational Device Exemption (IDE) to initiate the pivotal STAR-T trial. This double-blind, randomized trial will evaluate the use of DrugSorb-ATR in removing ticagrelor during cardiothoracic surgery, targeting up to 120 patients at 20 sites across the U.S. The study aims to reduce peri-operative bleeding risks associated with ticagrelor, a medication used in cardiovascular patients. Participant enrollment is expected to commence this summer, with completion anticipated in 2022.

CytoSorbents Corporation (NASDAQ: CTSO) has appointed Terri Anne Powers as Vice President of Investor Relations and Corporate Communications, effective immediately. Powers brings over 15 years of healthcare industry experience, including her recent role at Diplomat Pharmacy and over nine years with Veolia Environnement. In her new position, she aims to enhance the company's visibility and foster dialogue with investors. CytoSorbents, known for its CytoSorb® blood purification technology, seeks to leverage her expertise to communicate its growth story and potential FDA approvals.

CytoSorbents Corporation (NASDAQ: CTSO) announced its presentation at the Jefferies Virtual Healthcare Conference on June 3, 2021. The company will detail its progress in the field of blood purification technology, specifically its flagship product, CytoSorb®, used to treat critical conditions in patients. Management will also engage in one-on-one meetings with investors throughout the day. A live webcast of the presentation will be available, with an archived replay accessible for 30 days post-event.

CytoSorbents Corporation (NASDAQ: CTSO) announced that its CytoSorb® blood purification technology is now registered and commercially available in Singapore. This approval includes treatments for reducing cytokine storms, bilirubin in liver disease, and myoglobin in trauma cases, following European Union indications. The company expects increased demand due to Singapore's high prevalence of sepsis and cardiovascular diseases. The partnership with distributor Humedical aims to enhance patient care in the region. CytoSorb has been utilized in over 131,000 treatments globally.

CytoSorbents Corporation (NASDAQ: CTSO) has announced its participation in the UBS Global Healthcare Virtual Conference and the Oppenheimer MedTech, Tools, and Diagnostic Summit on May 26, 2021. The company will present an overview of its progress and outlook, along with conducting one-on-one meetings with investors. CytoSorbents specializes in blood purification technology, particularly its CytoSorb® product, which is approved in the EU and utilized in over 131,000 treatments globally.

CytoSorbents Corporation (NASDAQ: CTSO) secured a Defense Health Agency (DHA) Sequential Phase II Small Business Innovation Research (SBIR) contract worth $1.5 million to enhance its K⁺ontrol™ platform for treating severe hyperkalemia resulting from traumatic injuries. This follows prior Phase I and II successes, accumulating $1.15 million in funding. The technology aims to address life-threatening hyperkalemia in environments lacking modern medical facilities, providing critical treatment in emergencies, particularly for military and mass casualty scenarios.

CytoSorbents Corporation (NASDAQ: CTSO) reported a 22% revenue increase in Q1 2021, reaching $10.6 million, driven by a 24% growth in CytoSorb product sales to $10.1 million. The company achieved a gross profit margin of 77% and maintained a robust cash balance of $68.5 million. The FDA granted conditional approval for the STAR-T trial, aiming for U.S. regulatory approval. However, COVID-19 related sales dropped to $1.8 million from previous quarters, influenced by European lockdowns. CytoSorbents anticipates ongoing growth in non-COVID-19 business and new product applications.

CytoSorbents Corporation (NASDAQ: CTSO) will announce its Q1 2021 financial results on May 4, 2021, at 4:45 PM EST. The company specializes in blood purification technology, notably CytoSorb®, aimed at managing inflammation in critically ill patients. A live conference call will follow the results announcement, providing insights into operational and financial progress. CytoSorbents' technology has been utilized in over 121,000 treatments and is approved in the EU for various applications, including COVID-19 management.

CytoSorbents Corporation (NASDAQ: CTSO) announced that the FDA has granted conditional approval for its investigational device exemption (IDE) application to initiate the STAR-T trial. This trial focuses on removing ticagrelor, a potent antithrombotic, during cardiothoracic surgery to mitigate perioperative bleeding complications. The trial is expected to enhance CytoSorbents' U.S. commercialization strategy, targeting a market potential of $1 billion. The company aims to address all FDA conditions within 45 days and is prepared to move forward with clinical site engagements.