CytoSorbents Corporation (CTSO)

[ranchhand71]

Recent Maxim analyst report with $14 12 month target price.
2021 Revenues Est $50,299,000
2022 Revenues Est $70,000,000
Also show revenues greater than expenses for first time in Q1 2022!
Other comments:

CytoSorbents reported 1Q21 results on 5/4, post-close with product sales of
$10.6M, down 12% from 4Q20 and up 24% y/y. The company reported a net
loss of ($0.4M) and ended the period with $68.5M in cash on the balance sheet.
• The pullback was based on COVID restrictions in Europe, combined with a trough in cases reducing COVID sales. That said, the overall base business performed well vs. prior quarters.
• Clinical programs are making progress. REFRESH 2-AKI has resumed
enrollment and data is expected from the CTC Registry study of CytoSorb inCOVID-19 and the REMOVE endocarditis study in mid-2020. The CYTATION Study has also begun enrolling patients in Germany.
• Conclusion.
Over 2021, we expect COVID-19 revenues to continue to support
topline. As lockdown restrictions ease, CytoSorbents should be able to fullyleverage its approval in removal of blood thinners to drive growth in its base
business.