CytoSorbents Postpones Earnings Release to Allow More Time to Complete Annual Audit Following the Passing of Corporate Controller

Core Viewpoint - CytoSorbents Corporation reaffirms its preliminary financial results for the quarter and full year ended December 31, 2024, and anticipates regulatory decisions on DrugSorb™-ATR marketing applications in 2025 [1][6] Financial Results - The company expects to report fourth quarter and full year 2024 financial results after market close on March 25, 2025, with a live conference call scheduled for the same day [2] - Fourth quarter product revenue is projected to be between $9.0 million and$9.2 million, reflecting a growth of 22% to 25% compared to $7.35 million in the fourth quarter of 2023 [9] - Full-year product revenue is estimated to be between$35.4 million and $35.6 million, indicating approximately 14$31.1 million in 2023 [9] - The estimated cash balance as of December 31, 2024, is approximately $17.0 million, including unrestricted cash of about$15.5 million, following a net cash burn of approximately $2.5 million in Q4 2024 [7][8] Leadership and Transition - The postponement of the earnings call is due to the unexpected passing of the company's Vice President and Corporate Controller, James E. Cason, Jr., who had been with the company for 10 years [3][4] - The CEO expressed condolences and emphasized the strength of the financial team to ensure a smooth transition of responsibilities during this period [4] DrugSorb-ATR Development - The marketing applications for DrugSorb-ATR are under substantive review by the U.S. FDA and Health Canada, with regulatory decisions expected in 2025 [6][12] - DrugSorb-ATR is designed to reduce perioperative bleeding in high-risk surgeries and has received two FDA Breakthrough Device Designations [12]