Half-year Review and forward
Q1
* 1 year employment renewal for Dr Chan and Vincent Capponi
* Retained Merriman Capital as Capital Markets Advisor
* Exhibited its CytoSorb and HemoDefend technologies at the Society of Critical Care Medicine (SCCM) 43rd Critical Care Congress from January 10-12
* Dr Chan presented at Biotech Showcase, Jan 15
* U.S. Rep. Rush Holt presents export achievement award to CytoSorbents; the company is partnered with the Export-Import Bank of the United States (EXIM), Jan 23
* Expansion of sales team with now 5 sales reps, with a near term target of 7
* Received $458,000 grant as part of the NOL Program from the New Jersey Economic Development Authority
* Dr Steiner, guest speaker at Nuremberg Hospital, "Reduction of imflammatorischen Impacts of extracorporeal circulation: current possibilities of leukocyte filtration on the heart and lung machine in the context of cardiac surgery" , Jan 21
* Vista Partners Initiates Coverage on CytoSorbents Corporation (OTCQB: CTSO); $0.50 Price Target
* Exhibiting at the 43rd Annual Meeting of the German Society for Thoracic, Heart and Vascular Surgery in Freiburg, Germany from February 9-12
* Hired cardiac surgery sales representative with extensive key opinion leader contacts in their direct markets
* CytoSorbents and University of Pennsylvania Vet School Collaborate to Expand CytoSorb Research in Cancer Immunotherapy
* Sponsor of Sepsis and multiple organ failure: 8 Symposium, Friedrich-Alexander Universitat Elangen-Nurnberg - Feb 15
* Exhibiting at Symposium Intensivmedizin + Intensivpflege, Bremen Germany, Feb 19-21
* Announcement of $10,200,000 Registered Direct Offering; The Company received net proceeds from the Offering of approximately $9,451,000 million (40,800,000 shares of common stock at a price of $0.25 per share; issued to the investors in the offering warrants to purchase common stock equal to one-half of the number of shares purchased by the investors in the offering, for a total of 20,400,000 shares. The warrants have an exercise price of $0.3125 per share and are exercisable on a cash basis from the issuance date for a period of five years)
* DARPA Dialysis Like Therapeutics PI Program Review, March 11 & 12
* Supplied a small quantity of devices for testing to Battelle Memorial Institute
* Exbibiting and hosting symposium at 34th International Symposium on Intensive Care and Emergency Medicine, March 18-21
* CytoSorbents Industry Symposium, ISICEM, Brussels 2014, March 19
* Expecting product sales of approximately $530,000, $570,000 which is an increase of approximately 75% over the fourth quarter of 2013
* Has approximately $11.5mill in operating funds as of March 31st
Q2
* 13th Annual Needham Healthcare Conference, April 08 - April 09
* CytoSorbents Expands Distribution Middle Eastern Market of Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Bahrain, and Oman (the Gulf Cooperation Council or GCC) and Yemen, Iraq, and Jordan through an exclusive agreement with Techno Orbits
* Presenter at MERRIMAN CAPITAL SPOTLIGHT: HEALTHCARE Investor Conference, April 10
* Case report: "Septic shock secondary to ß-hemolytic streptococcus-induced necrotizing fasciitis treated with a novel cytokine adsorption therapy " in The International Journal of Articial Organs, April 17
* Registered 30-patient trial on clinicaltrials.gov, "Extracorporeal Therapy for the Removal of Myoglobin Using the CytoSorb in Patients With Rhabdomyolysis" (Estimated completion date: April 2015)
* SRATI 2014, Romainia May 14 - 18, 2014, presentation by Prof. Dr Serban Marinescu, "Hemoadsorption Device (CytoSorb) DURING Continuous hemofiltration in Septic Shock Venovenous. Impact on Cytokine Levels and Hemodynamics "
* Kathleen Bloch, insider purchase, 110,000 @.2355, May 20
* Sponsor at HIT 2014, Hamburg, Germany May 23-24
* Symposium at the Austrian Society for Internal and General Intensive Care and Emergency Medicine, Austria, June 11-14
* Exhibitor at Intensivmedizin ohne Grenzen – Interdisziplinäre Versorgung des polytraumatisierten Patienten, June 14, 2014
* The International Cytosorb Registry June 12
* Merriman Capital Initiates Research Coverage on CytoSorbents Corporation, price target $0.75, June 19
* Biocon exceeded first year sales projections within six months
* Have confirmed the likely regulatory path for the first generation Hemodefend inline filter in US/EU
* CytoSorb registration in UA
* Poster presentation at the Barcelona ESCMID, "COMPLETE IN-VITRO ADSORPTION OF ANTI-INFECTIVE DRUGS TO AN EXTRACORPOREAL CYTOKINE FILTER", May 10-13
* Case Report: "Septic shock secondary to B-hemolytic streptococcus-induced necrotizing fasciitis treated with a novel cytokine adsorption therapy" - International J of Artificial Organs - May 2014
* Al Kraus exercised options and sells shares, total of 200,000 shares
Q3
* CytoSorbents Consolidates SEC and International Legal Counsel with DLA Piper, July 9
* Announcement of Cardiac Surgery Advisory Board ("Cardiac Surgery Advisory Board will augment the scientific rigor of our trial design")
* ALPHA - Greifswald Summer Symposium, "S. Friesecke (Greifswald): "Cytosorb - a new and promising approach?", Aug 29, 2014
* Corporate Sponsor, World Sepsis Day Sept 13
* Exhibitor at HAI 2014, Berlin, Germany Sept 18 - Sept 20, 2014
* ??? SepsEast, Budapest Sept 18 - 20
* ??? ESICM, Barcelona, Spain Sept 27 - Oct 1 2014
Q4
* Exhibitor at the DIVI, Dec 3-5, 2014; sponsorship of the 2014 German Sepsis Society Roger-Bone award in recognition of an outstanding publication in clinical sepsis research
Ongoing
* Website re-vamp
* 32 issued US patents with multiple applications pending
* 30 investigator initiated studies, looking at a broad set of clinical applications that include sepsis, cardiac surgery, trauma, liver failure, and others, that have either started, or are being planned, with many of these expected to yield data this year
* New product development (Have four/five different products under development not yet publically disclosed"
* Product registration and reimbursements in key markets
* Looking to add at least five more distributors and on the partner side, looking to add at least one more partner to help broaden the reach of CytoSorb both in the European Union as well as outside the European Union
* Results of Germany dosing study
* US Cardiac Surgery Pivotal trial (expect to submit IDE during Summer 2014)
* Expect to hire a Chief Scientific Officer and a Clincial Trials Manager (US), total of 10 sales rep, total of 2 clinical support staff, US manufacturing + QA/QC staff
* European patient registry
* Biocon to create patient registry and dedicated sales & marketing team for CTSO
* European Pivotal Sepsis Trial
* Two trials expected to report in 2014 that is very important to the HemoDefend platform, RECESS and ABLE
* 2014 goal to identify partner to help fund/commercialize Hemodefend platform
* DARPA awarded 3.8 million for 5 year contract "Diaylsis-Like Theapeutics" program (2012)
* US Army awarded 1.15 million SBIR contract for trauma and burn injury research (2011-13)
* US Air Force 3 million funded 30 patient human pilot study in trauma (2013)
* NIH/NHLBI $203,351 Phase I SBIR grant to advance HemoDefend intended to imporve quality and safety of blood transfusion (2013)
* Uplisting to national stock exchange targeted for H2 2014
* Institutional ownership
* LPC deal expires Oct 2014
