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Unfortunately they have not been able to get approval for a broad sepsis treatment. 7-8 years ago they had research grant and hired a research team at University of Pittsburgh. It failed to prove a broad solution so they pivoted to much narrower applications.
Some think Chan and their scientific team made a HUGE blunder in not accelerating their HemoDefend application ( also under $15 million + grants) with Department of Defense to provide a kit to take any blood type , run it through a special cartridge bag, and create a UNIVERSAL blood plasma. A HUGE global market to be carried in every ambulance , EMS vehicles, naval ships, cruise ships etc. could be easily manufactured in their new NJ facility. Easily a $300-400 million global market annually within 2years of introduction with 85% gross margins. DOD wants a freeze dried version which is being worked on. IMHO this product would get FDA approval relatively quickly and would save the company and easily move the stock to $7-10. Chan has tied his fortune and that of the company to a weaker opportunity. CFO has left with handwriting on the wall. A shame.
After they run out of cash whoever acquires CTSO assets and intellectual property on this product line will make a fortune. There are several medical device companies with great balance sheets and superb global marketing/sales forces waiting in the wings to scoop up the carcass Chan will leave in 18 months.
Phil Chan here at CTSO and Neil Chan at IGEN have both destroyed a tremendous amount of shareholder capital through bad choices and mismanagement. Board a disaster.
You seem the type who buys into every lie told to you by penny stock pump and dumpers. A 3 second look at the financials and your claim and I see short interest small and falling.
Short Interest
Latest
1.39 M
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Nasdaq coming for them in new purge?
https://www.wsj.com/finance/stocks/nasdaq-penny-stock-proposed-rule-change-74677b00?st=9d6hc8olx75pnon&reflink=article_copyURL_share
Sounds like Kathleen has had enough of this nut show. What a shame.
So just exactly how much $ money does the company actually have today August 13, 2024?
Who do you guess the bonehead exec from CTSO that set that up was ? ;)
A reminder from today's 10K SEC filing:
Pursuant to an agreement dated August 11, 2003, an existing investor agreed to make a $4 million equity investment in the Company. These amounts were received by the Company in 2003. In connection with this agreement the Company granted the investor a perpetual royalty of 3% on all gross revenues received by the Company from the sale of its CytoSorb device which such rights were assigned to an existing investor in 2017. For the three months ended June 30, 2024 and 2023, the Company recorded royalty expenses of approximately $264,000 and $240,000, respectively. For the six months ended June 30, 2024 and 2023, the Company recorded royalty expenses of approximately $531,000 and $474,000, respectively. These expenses are included in selling, general and administrative expenses in the consolidated statements of operations and comprehensive loss.
EF Hutton initiated a $10 Target yesterday on CTSO. I can let you know the link is inside Schwab "thinkorswim" trading platform under news tab. Shorts are trying to play it down. I smell a short squeeze big time.
NEWS -- CytoSorbents Unveils Newly Redesigned, Unified Company and Product Website
“Working to Save Lives Together” Theme Highlights Two Decades of Successful Collaboration with the International Medical and Research Communities to Help Patients Survive Life-Threatening Illnesses
PRINCETON, N.J., July 29, 2024 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (NASDAQ: CTSO), a leader in the treatment of deadly conditions in the intensive care unit and cardiac surgery using blood purification via its proprietary polymer adsorption technology, is proud to announce the launch of its newly redesigned and consolidated website at https://www.cytosorbents.com. The theme of “Working to Save Lives Together” highlights two decades of successful collaboration with the international medical and research communities to continuously refine how our therapies, such as CytoSorb®, ECOS-300CY®, and VetResQ® are being used to help patients survive life-threatening illnesses.
A Modern, Unified Online Presence
The new website, built from the ground up, unifies our corporate and product information into a single, cohesive and comprehensive information hub for healthcare professionals, investors, and other key stakeholders. Visitors will find a streamlined modern design, intuitive navigation, and extensive content on our company, technology, therapies, pipeline that includes DrugSorb™-ATR and HemoDefend-BGA™, clinical studies, investor conferences, and much more.
Key Features of the New Website:
Too little too late. Cash crunch is the challenge. Their distribution model through third parties in 60 countries brings in zilch!!
NEWS -- CytoSorbents Announces Regulatory Approval of CytoSorb® in Taiwan
Brings a powerful blood purification technology used to treat critically ill and cardiac surgery patients in nearly a quarter million treatments across 75 countries to date to one of the most progressive healthcare systems in the world
PRINCETON, N.J., June 24, 2024 (GLOBE NEWSWIRE) -- CytoSorbents Corporation (NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification via its proprietary polymer adsorption technology, announces the regulatory approval of CytoSorb® in Taiwan by the Taiwan Food and Drug Administration (TFDA). The approved indications include the extracorporeal removal of cytokines (e.g. cytokine storm, sepsis), bilirubin (e.g. liver disease), and myoglobin (e.g. trauma) from a patient’s circulating blood. The removal of the antithrombotic drugs Brilinta® (ticagrelor, AstraZeneca) and Xarelto® (rivaroxaban, Janssen/Bayer) during cardiothoracic surgery is also approved, with the goal of reducing perioperative bleeding. CytoSorb will be distributed throughout Taiwan by Hemoscien Corporation.
Ms. Bettina Sabisch, Vice President of International Distributor Sales at CytoSorbents stated, “We are thrilled to announce this milestone which underscores the value and efficacy of our CytoSorb therapy and was achieved after navigating a long and complex approval process. We look forward to collaborating with Hemoscien and leveraging their long-standing customer relationships in Taiwan to bring this innovative therapy to patients in need.”
Mr. Tom Juan, Managing Director of Hemoscien Corporation emphasized, “There is an ongoing critical need for more effective therapies to combat infections and to prevent or treat organ failure. I firmly believe that advanced blood purification devices such as CytoSorb® can complement the limitations of traditional pharmaceuticals by restoring peripheral blood homeostasis and balance. Given the widespread and successful application of CytoSorb therapy in numerous countries to treat life-threatening critical illnesses, we are confident in our ability to take what has been learned and to market and support CytoSorb in Taiwan's ICU sectors through our deep critical care network to help save the lives of severely ill patients.”
In addition to Taiwan, CytoSorb is approved in the European Union and distributed in 75 countries worldwide. It is an extracorporeal cytokine adsorber that reduces “cytokine storm” or “cytokine release syndrome” in common critical illnesses such as sepsis and septic shock, trauma, acute respiratory distress syndrome, burn injury, pancreatitis, and others that can lead to massive inflammation, organ failure and patient death. CytoSorb is also used as an extracorporeal liver support therapy in acute liver disease (e.g. acute on chronic liver failure, alcoholic hepatitis) and removes both liver toxins, such as bilirubin and bile acids, as well as cytokines. It is also used to treat rhabdomyolysis (e.g. trauma) and the removal of myoglobin. In these diseases, the risk of death can be extremely high, and there are few, if any, effective or practical treatments. CytoSorb is also used during and after cardiothoracic surgery to remove antithrombotic drugs and inflammatory mediators that can lead to postoperative complications, including severe bleeding and multiple organ failure. As of March 31, 2024, more than 237,000 CytoSorb devices have been used cumulatively around the world.
Taiwan, with approximately 24 million inhabitants, offers universal coverage to its citizens through its National Health Insurance System and serves them through a network of nearly 400 medical centers and regional hospitals. With rising medical standards, use of advanced technology to increase administrative and provider efficiency, and access to high quality healthcare, Taiwan boasts one of the most progressive healthcare systems globally. Like many other parts of the world, critical illness including sepsis is a major problem in Taiwan. For example, there are 150,000 estimated new cases of sepsis reported each year in Taiwan with mortality rates as high as 30%, driven by diseases such as pneumonia, which is the third leading cause of death in Taiwan.
About Hemoscien Corporation
Hemoscien Corporation, a specialized hemo-epuration service provider, was established in 2008 as a spinoff from Smile Group Corp., originally founded in 1980. Since 1998, Hemoscien has maintained a strong partnership with Infomed S.A., a respected ICU hemo-therapy platform developer, achieving over 50% market share. The company is dedicated to its mission of addressing unmet medical needs in ICU care, as well as advancing regenerative medicine and other immune therapies.
About CytoSorbents Corporation (NASDAQ: CTSO)
CytoSorbents Corporation is a leader in the treatment of life-threatening conditions in the intensive care unit and in cardiac surgery through blood purification. CytoSorb, the Company’s flagship product, was originally launched in the European Union under CE mark as the first cytokine adsorber. In addition to the description in the text above, CytoSorb also received FDA Emergency Use Authorization in the United States for use in adult critically ill COVID-19 patients with impending or confirmed respiratory failure.
CytoSorbents’ purification technologies are based on biocompatible, highly porous polymer beads that can actively remove toxic substances from blood and other bodily fluids by pore capture and surface adsorption. Its technologies have received non-dilutive grant, contract, and other funding of approximately $50 million from DARPA, the U.S. Department of Health and Human Services (HHS), the National Institutes of Health (NIH), National Heart, Lung, and Blood Institute (NHLBI), the U.S. Army, the U.S. Air Force, U.S. Special Operations Command (SOCOM), Air Force Material Command (USAF/AFMC), and others. The Company has numerous marketed products and products under development based upon this unique blood purification technology protected by many issued U.S. and international patents and registered trademarks, and multiple patent applications pending, including ECOS-300CY®, CytoSorb-XL™, HemoDefend-RBC™, HemoDefend-BGA™, VetResQ®, K+ontrol™, DrugSorb™, ContrastSorb, and others. For more information, please visit the Company’s websites at https://www.cytosorbents.com and https://www.cytosorb.com or follow us on Facebook and X.
Forward-Looking Statements
This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, future targets and outlooks for our business, statements about potential exposures resulting from our cash positions, representations and contentions, and are not historical facts and typically are identified by use of terms such as “may,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue” and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements in this press release represent management’s current judgment and expectations, but our actual results, events and performance could differ materially from those in the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, the risks discussed in our Annual Report on Form 10-K, filed with the SEC on March 14, 2024, as updated by the risks reported in our Quarterly Reports on Form 10-Q, and in the press releases and other communications to shareholders issued by us from time to time which attempt to advise interested parties of the risks and factors which may affect our business. We caution you not to place undue reliance upon any such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than as required under the Federal securities laws.
Please Click to Follow Us on Facebook and X
U.S. Company Contact:
Kathleen Bloch, CFO
305 College Road East
Princeton, NJ 08540
+1 (732) 398-5429
mailto://kbloch@cytosorbents.com
Investor Relations Contact:
Eric Ribner
LifeSci Advisors, LLC
250 W 55th St, #3401
New York, NY 10019
+1 (646) 751-4363
mailto://ir@cytosorbents.com
https://finance.yahoo.com/news/cytosorbents-nasdaq-ctso-investors-sitting-101132136.html
"who have seen the share price tank a massive 90% over a three year period. That might cause some serious doubts"
What does a narcissistic sociopath do on a daily basis?
Besides heading to the bank every Friday with their ridiculous compensation checks, does anyone have a clue what this overpaid loser management is doing there everyday? Anyone? Buehler?
We'll have to see what unfolds ranch ! Something definitely smells bad imo.
What did they tell investors to get them to buy shares right before they collapsed? Chan vulnerable?
SHAREHOLDER ALERT:
Pomerantz Law Firm Investigates Claims on Behalf of Investors of Cytosorbents Corporation - CTSO
NEWS PROVIDED BY
ACCESSWIRE
Jan 28, 2024, 12:00 PM ET
NEW YORK, NY / ACCESSWIRE / January 28, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Cytosorbents Corporation ("Cytosorbents" or the "Company") (NASDAQ:CTSO). Such investors are advised to contact Danielle Peyton at newaction[ @, ext. 7980.
The investigation concerns whether Cytosorbents and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
https://www.kron4.com/business/press-releases/accesswire/828556/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-cytosorbents-corporation-ctso/
Join the class action lawsuit and vote against Chan at upcoming annual meeting.
Silence from these incompetent overpaid buffoons. Not expecting any news today as they're all down at the bank cashing bloated checks paid for by the recent financing. What a disgusting group of clowns.
Companies used to pay Zack’s for coverage in their SCR service. Does not take away from any good news updates …
New article post from Zacks scr over on Yahoo about START-T numbers just out, has target of $4. Thanks Zee!
https... Zacks_SCR_Research_01172024_CTSO_Kerr.pdf
Pay attention to the claims in the coming class action lawsuit. You can certainly signup with the law firm for an earlier look. Interesting to learn what the investors were told to entice them into direct investment at $1.77 compared to where stock went afterwards. Trial results so far a bit of a disappointment. Maybe finally a time for management change ? We like Director Kim background and experience. Check her out. With long time Chairman having retired last year maybe no one on Board would oppose a change. Just one shareholder opinion…
What are the so called "claims" that are being made? Does anybody have specifics on this?
Pomerantz Law Firm Investigates Claims on Behalf of Investors of Cytosorbents Corporation - CTSO
January 14, 2024 at 11:46 am EST
NEW YORK, Jan. 14, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Cytosorbents Corporation ("Cytosorbents" or the "Company") (NASDAQ: CTSO). Such investors are advised to contact Danielle Peyton at newaction @Oboeman-9980, ext. 7980.
Here comes the Class Action against Cytosorbents !!!
https://www.accesswire.com/viewarticle.aspx?id=822116&lang=en
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Cytosorbents Corporation - CTSO
NEWS PROVIDED BY
ACCESSWIRE
Jan 04, 2024, 3:00 PM ET
"NEW YORK, NY / ACCESSWIRE / January 4, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Cytosorbents Corporation ("Cytosorbents" or the "Company") (NASDAQ:CTSO). Such investors are advised to contact Danielle Peyton at newaction[ @, ext. 7980.
The investigation concerns whether Cytosorbents and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On December 28, 2023, Cytosorbents issued a press release announcing that its pivotal trial investigating the ability of its device candidate, DrugSorb®-ATR, to reduce perioperative bleeding in patients on ticagrelor (Brilinta®, Brilique® - AstraZeneca) undergoing cardiothoracic surgery before completing the recommended washout period, "did not meet the primary effectiveness endpoint in the overall patient population that underwent different types of cardiac surgeries."
On this news, Cytosorbents' stock price fell $0.545 per share, or 33.44%, to close at $1.085 per share on December 28, 2023."
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: Pomerantz LLP
View the original press release on accesswire.com
Can't delete the duplicates anymore they removed me from being a moderator.
Why do you think he hired a CFO that he had to let go after 3 months? Why did the longtime Chairman retire this year? Why isn’t he disclosing more about their grants and progress for the HemoDefend program?Are they still paying rent on the old facility?What did Bailee Gifford tell the investors to induce them to invest just a few weeks before their trial failure was announced? Transparency is not his ethic?
First thing that needs done after Chan is moved to CMO and an experienced successful CEO is chosen is to move over to the OTC market ASAP. They will burn up funds as fees are huge being on a major exchange. Every single dollar needs scrutinized going forward. I'd also like a huge more transparency shared to shareholders. What exactly is happening with new manufacturing facility now for instance?
That's all due to our great leadership which by the way needs to be replaced!
That's all due to our great leadership which by the way needs to be replaced!
Now they need only 30 mil more for a trial. Lol. Imagine got 90 mil when stock was at 9.00 and thats gone and Another another offering to dilute company 20% at 1.00. This thing is cooked 4ever. I will say either the product is all lies which it now appears to be or was just a scam all along. What a shame. I really thought this was a diamond in the rough but can it be if 15 years nothing done. And 1st 10 years nothing even tried. Just BS talk and lies. Joke and sad and delisted soon I’m sure. Dangerr
I would say they both have to go!
Chan and Capponi combine for what $3 milion a year. One has to ho and the other big cut. Period.
Do NOT vote for CHAN at the annual meeting. The old Chaiman that protected him for past decade is gone. Voice your displeasure by VOTING AGAINST CHAN
Hemoadsorption Therapy for Critically Ill Patients with Acute Liver Dysfunction: A Meta-Analysis and Systematic Review
by Caner Turan
1,2ORCID,Csenge Erzsébet Szigetváry 1,2ORCID,Tamás Kói 2,3,Marie Anne Engh 2ORCID,Isil Atakan 2,László Zubek 2,Tamás Terebessy 2,4,Péter Hegyi 2,5,6 andZsolt Molnár 1,2,7,*ORCID
1. Department of Anesthesiology and Intensive Therapy, Semmelweis University, 1085 Budapest, Hungary
2.Centre for Translational Medicine, Semmelweis University, 1085 Budapest, Hungary
3.Department of Stochastics, Institute of Mathematics, Budapest University of Technology and Economics, 1111 Budapest, Hungary
4.Department of Orthopaedics, Semmelweis University, 1085 Budapest, Hungary
5.Institute of Pancreatic Diseases, Semmelweis University, 1085 Budapest, Hungary
6.Institute for Translational Medicine, Medical School, University of Pécs, 7623 Pécs, Hungary
7.Department of Anesthesiology and Intensive Therapy, Poznan University of Medical Sciences, 60-806 Poznan, Poland
*
Author to whom correspondence should be addressed.
Biomedicines 2024, 12(1), 67; https://doi.org/10.3390/biomedicines12010067
Submission received: 16 November 2023 / Revised: 15 December 2023 / Accepted: 24 December 2023 / Published: 27 December 2023
URL:
https://www.mdpi.com/2227-9059/12/1/67
Still paying rent on the old factory!?
They sold 20% of the company for $1.33. This is NOT good. I would have preferred selling licenses or royalties, but I guess there is no serious buyer out there.
The only bright side is the execs and BoD bought a big chunk of shares.
Whew..just in time much needed cash raised by selling 7 million shares AND warrants through Jeffries this afternoon that will take them through third quarter 2024.. sounds like all rides on these trials.company dead if trials are weak or failure.
Doesn't everything really hinge on the trial results? Realistically, it's all moot if we don't get what we need there. I don't necessarily advocate firing Chan at this critical time, but I've been a long time critic of paying both him and Capponi president/CEO salaries all this time. That's a travesty. Ridiculous.
Clearly time for a management change/upgrade. The retirement of the Old Chaiman who protected Phil Chan opens the path for new talent. The newest Board member was brought on Board for her experience and expertise. Be sure to vote you proxy agains Phil Chan and for Kim. Ideally she becomes the ne CEO.
Ms. Kim is currently a Vice President at Zimmer Biomet, where she serves as the general manager of the Smart Implants portfolio and is responsible for leading the end-to-end program and product management for Zimmer Biomet’s Smart Implants technology in the orthopedic field. Previously, Ms. Kim served as Vice President, Global Strategic Marketing and Chief of Staff for the General Manager, Depression at LivaNova from 2020 to 2021. Prior to LivaNova, from 2011 to 2020, Ms. Kim served in increasing roles of responsibility at Johnson & Johnson Medical Devices. Ms. Kim received her MBA at the MIT Sloan School of Management, and she received a dual degree from the University of Pennsylvania with a B.S. in Economics from The Wharton School and a B.A. in Political Science from The College of Arts and Sciences.
Why is there no talks of the huge factory they built to be ready for the future demand. The rent must be crazy. Does Chan speak of it in quarterly
It could be toxic dilution imo.
Who is selling shares at 4 1/2 cents presplit. The trial news should be amazing for the share price!
It works allright. Shorts won't be able to keep it down when it receives FDA Breakthrough approval and price soars.
It works alrite. Workin the stock price to .33 which would make shareholders back to the RS price 15 years ago. My good I could run this company better with just sending reps that can talk the info to hospitals in the EU. Joke. And Sad
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