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CytoSorbents(CTSO) - 2020 Q1 - Quarterly Report
2020-05-05 20:13
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-36792 CYTOSORBENTS CORPORATION (Exact name of registrant as specified in its charter) Delaware 98-0373793 (State or other jurisdiction of (I.R.S. Employer Identification No ...
CytoSorbents(CTSO) - 2019 Q4 - Earnings Call Transcript
2020-03-06 02:42
CytoSorbents Corporation (NASDAQ:CTSO) Q4 2019 Earnings Conference Call March 5, 2020 4:45 PM ET Company Participants Jeremy Feffer - IR, LifeSci Advisors Phillip Chan - CEO and President Kathleen Bloch - CFO Vincent Capponi - COO Conference Call Participants Andrew D'Silva - B. Riley FBR Company Sean Lee - H.C. Wainwright Operator Good afternoon and welcome to the CytoSorbents' 2019 Financial and Operating Results Conference Call. At this time, all participants are in a listen-only mode. Following the form ...
CytoSorbents(CTSO) - 2019 Q4 - Annual Report
2020-03-05 21:12
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-36792 CYTOSORBENTS CORPORATION (Exact name of registrant as specified in its charter) Delaware 98-0373793 (State or other jurisdiction of incorporation or (I.R.S. Emp ...
CytoSorbents(CTSO) - 2019 Q3 - Earnings Call Transcript
2019-11-06 05:54
Financial Data and Key Metrics Changes - In Q3 2019, total revenue was approximately $6.1 million, a 6% increase from $5.7 million in Q3 2018 [13] - Product sales for Q3 2019 were $5.7 million, a 12.3% increase from $5.1 million in Q3 2018 [11] - Gross profit for Q3 2019 grew to approximately $4.4 million, an increase of over 19% from $3.7 million in Q3 2018 [14] - Blended product gross margins expanded to 77% in Q3 2019, up from 72% in Q3 2018 [14][19] - Cash as of September 30, 2019, was approximately $16 million, providing a solid operating foundation [20] Business Line Data and Key Metrics Changes - Cytosorbents delivered 73,000 treatments in Q3 2019, up from 51,000 a year ago [7] - Direct sales accounted for approximately 75% of product sales, with efforts to double the number of direct sales countries from five to ten in 2019 [22] - Product sales for the first nine months of 2019 were approximately $16.2 million, a 9% increase over $14.8 million for the same period in 2018 [15] Market Data and Key Metrics Changes - The Euro to dollar exchange rate declined from an average of $1.16 in Q3 2018 to $1.11 in Q3 2019, impacting reported sales [12] - Expansion into 58 countries, with new registrations pending in Brazil, Mexico, South Korea, and Colombia, potentially adding over 440 million people to the market [24] Company Strategy and Development Direction - The company aims for significant growth in 2020, driven by increased direct sales and expanded market presence [22] - A focus on strengthening the commercial organization by increasing headcount and enhancing sales strategies [25][27] - Continued clinical progress with trials aimed at expanding the use of CytoSorb in various medical applications [9][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a strong finish to 2019 and anticipates faster growth in 2020 [22] - The company is optimistic about the demand for CytoSorb, with 85% of invoices coming from repeat customers [28] - Clinical data generation is robust, with over 120 publications supporting the efficacy of CytoSorb in treating various conditions [29] Other Important Information - The company received renewal of its CytoSorb CE Mark through May 2024 and ISO 13485 certification through September 2023 [8] - The company has an at-the-market facility allowing it to raise up to $25 million in equity if needed [20] Q&A Session Summary Question: Update on the outlook for direct sales and distributor revenue - Management acknowledged challenges with distributor revenue due to inventory issues but noted that two of three distributors are now ordering again [50] - Direct sales outside Germany are expected to grow, with Poland showing promising early results [56] Question: Potential for label expansion and future clinical trials - Management confirmed that they are actively pursuing label expansion based on compelling data from recent studies [76] Question: Details on the REFRESH 2 study interim analysis - The interim analysis will assess whether the study needs rebalancing or if there are any safety concerns, but results will not be publicly disclosed to maintain trial integrity [102][104]
CytoSorbents(CTSO) - 2019 Q3 - Quarterly Report
2019-11-05 21:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-36792 CYTOSORBENTS CORPORATION (Exact name of registrant as specified in its charter) Delaware 98-0373793 (State or other jurisdiction of (I.R.S. Employer Identificatio ...
Cytosorbents (CTSO) Investor Presentation - Slideshow
2019-10-17 17:41
HELPING REDUCE DEADLY UNCONTROLLED INFLAMMATION IN HOSPITALIZED PATIENTS WORLDWIDE NASDAQ: CTSO Investor Presentation October 2019 Safe Harbor Statement This presentation contains "forward-looking statements" pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "intend ...
CytoSorbents(CTSO) - 2019 Q2 - Earnings Call Transcript
2019-08-07 00:58
Cytosorbents Corporation (NASDAQ:CTSO) Q2 2019 Results Earnings Conference Call August 6, 2019 4:45 PM ET Company Participants Jeremy Feffer - IR, LifeSci Advisors Phillip Chan - CEO and President Kathleen Bloch - CFO Vincent Capponi - COO Christopher Cramer - VP of Business Development Christian Steiner - VP of Sales and Marketing Eric Mortensen - Chief Medical Officer Conference Call Participants Josh Jennings - Cowen & Company Andrew D'Silva - B. Riley Jason McCarthy - Maxim Group Jason Kolbert - Dawson ...
CytoSorbents(CTSO) - 2019 Q2 - Quarterly Report
2019-08-06 20:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 Or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-36792 CYTOSORBENTS CORPORATION (Exact name of registrant as specified in its charter) Delaware 98-0373793 (State or other jurisdiction of (I.R.S. Employer Identification No. ...
CytoSorbents(CTSO) - 2019 Q1 - Earnings Call Transcript
2019-05-08 01:20
Cytosorbents Corporation (NASDAQ:CTSO) Q1 2019 Earnings Conference Call May 7, 2019 4:45 PM ET Company Participants Jeremy Feffer - IR, LifeSci Advisors Phillip Chan - CEO and President Vincent Capponi - COO Kathleen Bloch - CFO Eric Mortensen - Chief Medical Officer Christian Steiner - SVP of Sales and Marketing Christopher Cramer - VP of Business Development Conference Call Participants Andrew D'Silva - B. Riley FBR Jason McCarthy - Maxim Group Brian Marckx - Zacks Investment Research Operator Good aftern ...
CytoSorbents(CTSO) - 2019 Q1 - Quarterly Report
2019-05-07 20:26
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 Or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-36792 CYTOSORBENTS CORPORATION (Exact name of registrant as specified in its charter) Delaware 98-0373793 (State or other jurisdiction of (I.R.S. Employer Identification No ...