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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 ...
CytoSorbents(CTSO) - 2018 Q4 - Earnings Call Presentation
2019-03-08 04:16
CytoSorbents Corporation (NASDAQ: CTSO) A Leader in Critical Care Immunotherapy Q4 2018 and Full Year 2018 Earnings Conference Call March 7, 2019 Conference Call Participants Vincent Capponi, MS Chief Operating Officer Kathleen Bloch, MBA, CPA Chief Financial Officer Dr. Eric Mortensen, MD, PhD Chief Medical Officer Dr. Christian Steiner, MD Vice President of Sales and Marketing 2 Dr. Phillip Chan, MD, PhD Chief Executive Officer and President Chris Cramer, MS, MBA Vice President of Business Development Mod ...
CytoSorbents(CTSO) - 2018 Q4 - Earnings Call Transcript
2019-03-08 04:12
Cytosorbents Corp (NASDAQ:CTSO) Q4 2018 Earnings Conference Call March 7, 2019 4:45 PM ET Company Participants Jeremy Feffer - Investor Relations, LifeSci Advisors Phillip Chan - Chief Executive Officer and President Kathleen Bloch - Chief Financial Officer Vincent Capponi - Chief Operating Officer Christopher Cramer - Vice President of Business Development Christian Steiner - Vice President of Sales and Marketing Eric Mortensen - Chief Medical Officer Conference Call Participants Joshua Jennings - Cowen & ...
CytoSorbents(CTSO) - 2018 Q4 - Annual Report
2019-03-07 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, 2018 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 ...