CytoSorbents Corporation (CTSO)

[techxen]

Less than two weeks until the next earnings report

Things I am expecting to hear:

• Investments in direct sales force - they added 50 new headcount to their sales team in the past 6 months in their direct sales territories, mainly Germany. Are they seeing significant results from this investment. From the last call they project that each salesperson will average $2-3m in sales per year. Remember, they are selling over $1m a year to just one hospital in Germany and this was before they made these investments.

• REFRESH 2 trial here in the U.S. (cardiac surgery) - what's the plan for resuming the trial and the execution plan for it, assuming all of the data analysis was completed for the DMC.

• REMOVE trial in Germany (infective endocarditis) - Outcomes for the study are expected to be reported in mid-2020, but are they able to say whether the top-line results achieve their primary endpoint. The results from this trial will be another large driver of sales in Germany in addition to the label expansions received for bilirubin and Ticagrelor removal

• Updates on product registration in Mexico and South Korea - if the product registrations go through this year, expect Fresenius to place large initial stocking orders for these countries as they were not legally able to transfer their European inventory to these countries.

I don't list an update on Hemodefend IDE filing with the FDA because I am holding out hope that the company doesn't want to go another conference call with more reasons why this IDE has not been filed. I am holding out hope that we will hear news of this next week.

Any news next week of coronavirus patients from China who have been successfully stabilized using the filter, will also provide a significant boost to the share price going into the earnings call.

Things finally seem to be turning in the company's favor.