Tuesday, January 31, 2023 12:12:09 PM
Tue, January 31, 2023 at 7:15 AM EST
Tue, January 31, 2023 at 7:15 AM EST
In this article:
Cumulative CytoSorb treatments surpassed 195,000. Q4 2022 product sales rebounded from Q3 2022 low. Adjusted for constant currency, Core non-COVID 2022 product sales were within 5% of that achieved in 2021 and greater than 30% increased from pre-pandemic 2019
PRINCETON, N.J., Jan. 31, 2023 /PRNewswire/ -- 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, issues a stockholder letter from its Chief Executive Officer, Dr. Phillip Chan, and announces preliminary unaudited fourth quarter 2022 and full year 2022 results ahead of filing its Form 10-K.
CytoSorbents Corporation (NASDAQ: CTSO) is a leader in the treatment of life-threatening conditions using blood purification. CytoSorbents’ flagship product, CytoSorb®, is approved in the European Union and distributed in over 70 countries worldwide. CytoSorbents is conducting trials to support FDA marketing approval of DrugSorb™-ATR for antithrombotic drug removal during cardiothoracic surgery. (PRNewsfoto/CytoSorbents Corporation)
CytoSorbents Corporation (NASDAQ: CTSO) is a leader in the treatment of life-threatening conditions using blood purification. CytoSorbents’ flagship product, CytoSorb®, is approved in the European Union and distributed in over 70 countries worldwide. CytoSorbents is conducting trials to support FDA marketing approval of DrugSorb™-ATR for antithrombotic drug removal during cardiothoracic surgery. (PRNewsfoto/CytoSorbents Corporation)
More
Preliminary Unaudited Full Year 2022 Results
Cumulative CytoSorb treatments delivered exceeded 195,000 at the end of 2022, up 20% from the end of 2021, and marking the 10th year of CytoSorb commercialization
Preliminary unaudited 2022 Total Revenue, which includes Product Sales and Grant Revenue, was approximately $34.7 million versus $43.2 million in 2021, and $24.9 million in pre-pandemic 2019
Overall preliminary unaudited 2022 Product Sales were approximately $29.4 million versus $40.1 million in 2021, which included $0.3 million and $6.3 million in COVID-19 related Product Sales, respectively, and versus $22.8 million in pre-pandemic 2019
2022 Core (non-COVID-19) Product Sales were approximately $29.1 million versus $33.8 million in 2021. This reflects an 11% drop in the average Euro to dollar exchange rate from 1.18 in 2021 to 1.05 in 2022. On a constant currency basis, Core Product Sales would have been approximately $32.2 million versus $33.8 million in 2021, a decrease of 4.6%
Solid cash balance at the end of 2022 of approximately $23.8 million
Preliminary Unaudited Q4 2022 Results
Q4 2022 Total Revenue was approximately $9.4 million versus $10.8 million in Q4 2021, and versus $7.4 million in pre-pandemic Q4 2019
Q4 2022 Product Sales were approximately $7.6 million, which rose 18% sequentially from $6.5 million in Q3 2022, but were lower than the $9.7 million in Q4 2021, which benefitted from $1.7 million in COVID-related sales. Pre-pandemic Q4 2019 Product Sales were $6.6 million.
Core (non-COVID-19) Product Sales in Q4 2022 were approximately $7.6 million, compared to approximately $8.0 million in Q4 2021. On a constant currency basis, core Q4 2022 product sales would have been $8.5 million, a 6% increase over $8.0 million in Q4 2021
CytoSorbents targets pivotal STAR-T trial completion this year, with massive U.S. & Canadian markets in its sights
The Company expects to report fully-audited financial results for Q4 2022 and full year 2022 on Thursday, March 9, 2023, with a conference call held at 4:30PM ET. Further details for the earnings call will be provided at a later date.
https://finance.yahoo.com/news/cytosorbents-issues-stockholder-letter-reports-121500605.html
Recent CTSO News
- CytoSorbents to Present at the Inaugural American Association of Physicians of Indian Origin (AAPI) World Health Congress • GlobeNewswire Inc. • 07/17/2024 11:00:00 AM
- CytoSorbents Secures $20 Million Credit Facility • GlobeNewswire Inc. • 07/02/2024 11:00:00 AM
- CytoSorbents Announces Regulatory Approval of CytoSorb® in Taiwan • GlobeNewswire Inc. • 06/24/2024 11:00:00 AM
- CytoSorbents Announces the Launch and Immediate Availability of the PuriFi™ Blood Pump in the European Union • GlobeNewswire Inc. • 06/13/2024 11:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/10/2024 08:31:20 PM
- CytoSorbents to Host its 2024 Virtual Annual Stockholders Meeting • GlobeNewswire Inc. • 06/05/2024 11:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/22/2024 08:35:12 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/09/2024 09:23:00 PM
- CytoSorbents Reports First Quarter 2024 Results • GlobeNewswire Inc. • 05/09/2024 08:17:23 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 08:14:53 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/06/2024 09:00:30 PM
- CytoSorbents May 6, 2024 Virtual KOL and Analyst-Investor Day: STAR-T Pivotal Trial Topline Results & Real World Experience with Antithrombotic Drug Removal in Europe • GlobeNewswire Inc. • 05/02/2024 11:00:00 AM
- CytoSorbents to Report First Quarter 2024 Operating and Financial Results • GlobeNewswire Inc. • 04/26/2024 11:00:00 AM
- 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
FEATURED Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • Jul 17, 2024 1:00 PM
Kona Gold Beverages Reaches Out to Largest Debt Holder for Debt Purchase Negotiation • KGKG • Jul 17, 2024 9:00 AM
Avant Technologies Welcomes Back Former CEO with Eye Toward Future Growth and Expansion • AVAI • Jul 17, 2024 8:00 AM
HealthLynked Expands Telemedicine Nationwide • HLYK • Jul 17, 2024 8:00 AM
Peer To Peer Network aka Mobicard™ Launches AI Investor Chatbot Boosting Engagement & Lead Generation on Ihub • PTOP • Jul 15, 2024 8:30 AM
Greenlite Ventures Announces AI Integration into No Limit Platforms • GRNL • Jul 15, 2024 8:00 AM