Wednesday, January 21, 2015 5:58:50 AM
January 20, 2015 11:21 AM EDT by Editor Jason Cohen in Healthcare • Insights • Most Popular
In a research report released this morning, Brean Capital analyst Jonathan Aschoff reiterated a Buy rating on Cytosorbents Corp (NASDAQ:CTSO) with a $25 price target, after the company raised net proceeds of $9.5M in January to fund its planned pivotal trials in the US and Germany and to expand production.
Aschoff noted, “We project the company to have about $15M in cash after 1Q15. In 4Q14, CytoSorbents implemented a 1-25 reverse split, allowing the company to be up-listed on the Nasdaq market later in December. We raise our TP to $25 from $1 due to the reverse split. CytoSorbents submitted an IDE application to the FDA in December 2014 and is currently preparing for a pivotal trial in the US using CytoSorb intra-operatively in patients undergoing complex cardiac surgery requiring the use of a heart-lung machine.”
The analyst continued, “CytoSorb sales were $1M in 3Q14 up from $0.7M in 2Q14, driven by strong uptake and reorders from customers and distributors. In 4Q14, CytoSorbents entered into a multi-year partnership with Fresenius to distribute CytoSorb in the ICU in 6 European countries. As physicians become more comfortable with CytoSorb, its use should grow broader and deeper.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jonathan Aschoff has a total average return of 13.0% and a 62.5% success rate. Aschoff is ranked #128 out of 3428 analysts.
Recent CTSO News
- STAR-T Pivotal Trial Results to Be Featured as a Late-Breaking Presentation at the 2024 American Association for Thoracic Surgery Annual Meeting • GlobeNewswire Inc. • 04/17/2024 11:00:00 AM
- CytoSorbents to Report Fiscal 2023 Operating and Financial Results • GlobeNewswire Inc. • 03/06/2024 12:00:00 PM
- CytoSorbents to Present at the TD Cowen 44th Annual Health Care Conference • GlobeNewswire Inc. • 02/08/2024 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/17/2024 10:20:45 PM
- Groundbreaking Randomized Controlled Trial Reports Excellent Clinical Outcomes Using CytoSorb® Intraoperatively in Heart Transplant Patients • GlobeNewswire Inc. • 01/17/2024 12:15:00 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 01/08/2024 08:00:03 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/28/2023 09:49:02 PM
- CytoSorbents Provides Update on the STAR-T Trial and Reports Final Independent Data and Safety Monitoring Board Recommendation • GlobeNewswire Inc. • 12/28/2023 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/15/2023 09:35:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/15/2023 09:34:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/15/2023 09:34:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/15/2023 09:33:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/15/2023 09:32:55 PM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/15/2023 09:31:42 PM
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- Form 8-K - Current report • Edgar (US Regulatory) • 12/13/2023 02:15:22 PM
- CytoSorbents Announces Closing of $10.3 Million Registered Direct Offering • GlobeNewswire Inc. • 12/13/2023 02:15:00 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 12/11/2023 09:10:44 PM
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- CytoSorbents Reports Third Quarter 2023 Financial and Operational Results • GlobeNewswire Inc. • 11/09/2023 09:15:00 PM
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- CytoSorbents to Present at the 8th Annual Dawson James Conference • GlobeNewswire Inc. • 10/05/2023 11:00:00 AM
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