CytoSorbents Entered Into A New $20M Credit Facility With Avenue Capital Group

7/2/24 7:10:26 AM ET

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Proceeds from the facility are intended to provide non-dilutive working capital to support the Company's ongoing global CytoSorb® franchise in critical care and cardiac surgery that generated $32.2 million in trailing 12-month sales as of March 31, 2024, planned marketing applications to U.S. Food and Drug Administration (FDA) and Health Canada for DrugSorb™-ATR and initial launch and commercialization preparations if approved, and refinancing of existing Bridge Bank debt.

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Date	Price Target	Rating	Analyst
9/7/2023	$4.00	Buy	B. Riley Securities
10/14/2021	$10.00	Buy	B. Riley Securities

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CytoSorbents And Converge Biotech Announce Strategic Partnership to Expand Sepsis and Critical Care Treatment with CytoSorb in India
PRINCETON, N.J. and HYDERABAD, India, Nov. 11, 2024 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (NASDAQ:CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit (ICU) and during cardiac surgery through blood purification, and Converge Biotech, a prominent healthcare company with a strong critical care and infectious disease focus in India, are pleased to announce a new strategic collaboration where the two companies seek to expand their combined market reach in the sepsis and critical care markets in India with a broad synergistic product portfolio. CytoSorbents is renowned for its flagship product, CytoSorb®, a blood purification technology that red
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CytoSorbents Reports Third Quarter 2024 Financial and Operational Results
PRINCETON, N.J., Nov. 07, 2024 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (NASDAQ:CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification, today reported unaudited financial and operating results for the third quarter ended September 30, 2024. Third Quarter 2024 Financial Results Product revenue of $8.6 million, 11% growth versus $7.8 million in Q3 2023Total revenue of $9.4 million inclusive of product and grant revenue, 7% growth versus $8.8 million in Q3 2023Product gross margins decreased to 61%, compared to 72% in Q3 2023, reflecting the impact of a planned production slowdown to rebalance inve
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CytoSorbents Submits Health Canada Medical Device License Application for DrugSorb-ATR Following MDSAP Certification
Targets the reduction in CABG-related bleeding severity due to the blood thinning drug, ticagrelor – a major unmet medical need in heart attack patients requiring surgerySuccessful MDSAP certification confirms compliance with Health Canada and U.S. FDA quality management system requirements, replacing FDA audit and inspection if requiredHealth Canada and U.S. FDA regulatory decisions expected in 2025 PRINCETON, N.J., Nov. 04, 2024 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (NASDAQ:CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification, today announced the submission of its DrugSorb™-ATR Medical Device Licen
11/4/24 7:00:00 AM ET
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CytoSorbents And Converge Biotech Announce Strategic Partnership to Expand Sepsis and Critical Care Treatment with CytoSorb in India
PRINCETON, N.J. and HYDERABAD, India, Nov. 11, 2024 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (NASDAQ:CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit (ICU) and during cardiac surgery through blood purification, and Converge Biotech, a prominent healthcare company with a strong critical care and infectious disease focus in India, are pleased to announce a new strategic collaboration where the two companies seek to expand their combined market reach in the sepsis and critical care markets in India with a broad synergistic product portfolio. CytoSorbents is renowned for its flagship product, CytoSorb®, a blood purification technology that red
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CytoSorbents Appoints Peter J. Mariani Chief Financial Officer
PRINCETON, N.J., Aug. 13, 2024 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (NASDAQ:CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification via its proprietary polymer adsorption technology, announces the appointment of Peter J. Mariani as Chief Financial Officer (CFO), effective August 14, 2024. Mr. Mariani will report to Dr. Phillip Chan, Chief Executive Officer of CytoSorbents. Concurrently, Kathleen P. Bloch, CytoSorbents' current CFO, announced her retirement from the Company effective as of the close of business today, and will continue to serve in an advisory role as a consultant to enable an effective t
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CytoSorbents Announces Kathleen P. Bloch To Resume as Full-Time Chief Financial Officer
PRINCETON, N.J., Sept. 19, 2023 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (NASDAQ:CTSO), a critical care therapy leader commercializing its CytoSorb® blood purification technology to treat cytokine storm and deadly inflammation in critically-ill and cardiac surgery patients around the world, announced the re-appointment of Kathleen P. Bloch as full-time Chief Financial Officer, effective retroactively to September 2, 2023. Ms. Bloch served as the Company's Chief Financial Officer for 10 years until her retirement in March 2023, when she became Interim CFO as a consultant. She resumed as Interim CFO after the investigation of, and mutual termination and release agreement with, former CFO
9/19/23 7:00:00 AM ET
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CytoSorbents Reports Third Quarter 2024 Financial and Operational Results
PRINCETON, N.J., Nov. 07, 2024 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (NASDAQ:CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification, today reported unaudited financial and operating results for the third quarter ended September 30, 2024. Third Quarter 2024 Financial Results Product revenue of $8.6 million, 11% growth versus $7.8 million in Q3 2023Total revenue of $9.4 million inclusive of product and grant revenue, 7% growth versus $8.8 million in Q3 2023Product gross margins decreased to 61%, compared to 72% in Q3 2023, reflecting the impact of a planned production slowdown to rebalance inve
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CytoSorbents to Report Third Quarter 2024 Operating and Financial Results
PRINCETON, N.J., Oct. 17, 2024 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (NASDAQ:CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification, will report third quarter 2024 operating and financial results after the market close on Thursday, November 7, 2024. CytoSorbents' management will host a live conference call, presentation webcast, and a question-and-answer session starting at 4:30PM ET the same day. Webcast Details:Date: Thursday, November 7, 2024Time: 4:30 PM ETLive webcast link: https://edge.media-server.com/mmc/p/e9gv3iawConference ID: 9258825 Participant Dial-In:Participant Dial-in toll-free: (80
10/17/24 7:00:00 AM ET
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CytoSorbents Reports Second Quarter 2024 Financial and Operational Results
New CFO Peter J. Mariani to succeed retiring CFO Kathleen P. BlochOn track for DrugSorb™-ATR U.S. FDA De Novo and Health Canada marketing submissions this quarterIn Q2 2024, increased product sales by 10% and reduced operating loss by 48%Achieved more than a quarter million CytoSorb treatments cumulatively delivered to date – a major company milestone PRINCETON, N.J., Aug. 13, 2024 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (NASDAQ:CTSO), a pioneer in critical care and cardiac surgery blood purification technologies, today reported unaudited financial and operating results for the quarter ended June 30, 2024. Second Quarter 2024 Financial Results Total revenue for Q2 202
8/13/24 4:19:55 PM ET
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CytoSorbents Entered Into A New $20M Credit Facility With Avenue Capital Group

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Why CytoSorbents (CTSO) Stock Is Trading Higher

CytoSorbents shares are trading higher after the company entered into a new $20 million credit facility with Avenue Capital Group.