CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader using its CytoSorb® blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients around the world, reports record financial and operational results for the quarter ending March 31, 2020.
CytoSorbents Corporation (NASDAQ: CTSO) a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat cytokine storm and deadly inflammation in critically-ill and cardiac surgery patients around the world, announced that its CytoSorb cytokine adsorber has been approved to be marketed and sold in Mexico by the country's health authority, COFEPRIS. COFEPRIS, or the Federal Committee for Protection from Sanitary Risks (Comisión Federal para la Protección contra Riesgos Sanitarios) is responsible for regulating the importation of medical devices into the country.
Any way you look at it, it is most likely the world will be a different place once some sense of normality resumes following the global battle against coronavirus. In the new paradigm, there will also be companies riding the wave of a successful confrontation with COVID-19. Will small cap biotech Cytosorbents (CTSO) make such a list?Bucking the trend, the healthcare company skyrocketed 70% year-to-date, on the back of a possible treatment for coronavirus.Last week, Cytosorbents announced that its CytoSorb blood purification device has been used by healthcare providers in Italy, China, Germany and France to treat dozens of severely ill COVID-19 patients suffering from cytokine storm, acute respiratory distress syndrome (ARDS), and shock. The related conditions are the causes of death in COVID-19, and are the underlying reasons for the long ventilator periods currently overpowering Italy’s healthcare system.CytoSorb is approved in the EU and has been recommended for blood purification in China. Despite being included in both Italy and Panama’s treatment guidelines and widely used across the globe, the treatment is not yet FDA approved in the US. Although currently provided under an expanded access program, discussions are on-going on how to improve widespread access to the treatment.Maxim’s Jason McCarthy reiterates the important role CytoSorb can play in the fight against COVID-19: “In the US, New York is the epicenter, representing ~50% of cases, and hospitals are reporting a spike in ICU visits, and barring emergency measures (which are in the works), the stat only has ~3000 ICU beds in total, so measures to reduce the spread (such as social distancing, closing non-essential businesses) and treatments to prevent and reduce the length of ICU stays have become highly important.”McCarthy reiterated a Buy rating on CTSO shares, along with an $8 price target, implying potential upside of 21%. (To watch McCarthy’s track record, click here)Over the past 3 months, only two other analysts have thrown the hat in with a view on the promising coronavirus fighter. The two additional Buy ratings provide Cytosorbants with a Strong Buy consensus rating. With an average price target of $11, investors stand to take home an 68% gain, should the target be met over the next 12 months. (See Cytosorbents stock-price forecast on TipRanks) To find good ideas for coronavirus stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
By Anita Dushyanth, PhD NASDAQ:CTSO READ THE FULL CTSO RESEARCH REPORT Recent Highlights ‣ Record Revenue, Margin s: Q1 set records on product revenue. Achieved guidance on product margins which widened to 80% by Q4 2019, are benefitting from growth in direct sales (proportionally as well as in aggregate) and achieved more product efficiencies. ‣ CE Mark Renewa l: on August 15th, 2019
CytoSorbents Corporation (NASDAQ:CTSO), a critical care immunotherapy leader specializing in blood purification, announces that CytoSorb® is now approved and immediately available in the European Union for the removal of rivaroxaban (Xarelto®- Bayer, Jansenn/Johnson & Johnson), a widely-used Factor Xa inhibitor and novel oral anticoagulant (NOAC), during cardiothoracic surgery requiring cardiopulmonary bypass (CPB). With this announcement, and the E.U. approval earlier this year to remove the P2Y12 anti-platelet inhibitor, ticagrelor, for the same indication, CytoSorb is providing cardiac surgeons and perfusionists an easy-to-use and rapid new treatment option to help reduce the risk of serious and potentially fatal perioperative bleeding complications caused by these two drugs, in separate categories of blood thinners.
CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat cytokine storm and deadly inflammation in critically-ill and cardiac surgery patients around the world, and its Chief Executive Officer, Dr. Phillip Chan, MD, PhD, announced the promotion of Chief Operating Officer Vincent J. Capponi to President and COO, effective immediately.
Joining me today from the company are: Dr. Phillip Chan, Chief Executive Officer; Vincent Capponi, Chief Operating Officer; Kathleen Bloch, Chief Financial Officer; Dr. Efthymios Makis Deliargyris, Chief Medical Officer; Dr. Christian Steiner, Senior Vice President of Sales & Marketing from Germany; and Christopher Cramer, Vice President of Business Development. Before I turn the call over to Dr. Chan, I'd like to remind listeners that during the call, management's prepared remarks may contain forward-looking statements to risks and uncertainties.
The FDA says CytoSorbents' blood purification system 'may be effective' in fighting cytokine storms.
CytoSorbents Corporation (NASDAQ: CTSO) a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients around the world, provided an update from its Chief Executive Officer, Dr. Phillip Chan, MD, PhD.
CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat cytokine storm and deadly inflammation in critically-ill and cardiac surgery patients around the world, highlights a recently published study entitled, "Combined Use of CytoSorb and ECMO in Patients with Severe Pneumogenic Sepsis" in the medical journal, The Thoracic and Cardiovascular Surgeon.
CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat cytokine storm and deadly inflammation in critically-ill and cardiac surgery patients around the world, will host its Virtual Annual Meeting on Tuesday, June 2, 2020 at 10:00 AM EDT. Stockholders of record will be able to virtually join and submit questions, and those that have not yet voted will be able to vote their shares electronically at the meeting.
CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat cytokine storm and deadly inflammation in critically-ill and cardiac surgery patients around the world, announced the United States Food and Drug Administration (FDA) has granted Emergency Use Authorization (EUA) of CytoSorb® for use in patients with COVID-19 infection.
CytoSorbents Corporation (NASDAQ: CTSO) a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat cytokine storm and deadly inflammation in critically-ill and cardiac surgery patients around the world, announced that its Chief Executive Officer, Dr. Phillip Chan, MD, PhD will participate in a conference call, in fireside chat format, with Dr. Joshua Jennings, MD, Managing Director and Senior Research Analyst of Equity Research at Cowen and Company, LLC today to discuss the COVID-19 pandemic and the role that CytoSorbents is playing to help treat patients.
Shares of CytoSorbents Corp. gained 28.7% in trading on Monday following a Food and Drug Administration announcement late on Friday that grants an emergency use authorization to the company's blood purification system for COVID-19 patients. An EUA is not an FDA approval; however, during the COVID-19 pandemic, this type of authorization allows companies to market their technologies to health care providers as treatments for patients with the novel coronavirus. CytoSorbents' technology, which is used to treat cytokine storms, is approved outside of the U.S., the company said in a news release. The EUA allows the CytoSorb product to be used in some adult patients with COVID-19 infections being treated in intensive care units with respiratory failure. CytoSorbents' stock has soared 118.1% year-to-date; the S&P 500 , in comparison, has dropped 13.6%.
CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients around the world, will report Q1 2020 financial results after the market close on Tuesday, May 5, 2020.
CytoSorbents Corporation (NASDAQ: CTSO) a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients around the world, provided an update from its Chief Executive Officer, Dr. Phillip Chan, MD, PhD.
In this daily bar chart of CTSO, below, we can see a rounded bottom formation from August through March's correction and retest. CTSO is above the rising 50-day moving average line and above the rising 200-day moving average line. The daily On-Balance-Volume (OBV) line has been rising strongly to confirm the bullish price action.
The U.S. death toll from COVID-19 rose above 22,000 on Monday, as President Donald Trump railed against the nation’s top infectious disease expert for suggesting more lives could have been saved if restrictions on movement had been imposed earlier.
CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat cytokine storm and deadly inflammation in critically-ill and cardiac surgery patients around the world, announced that the U.S. Food and Drug Administration (FDA) has granted Breakthrough Designation to CytoSorb for the removal of ticagrelor in a cardiopulmonary bypass circuit during emergent and urgent cardiothoracic surgery. The Breakthrough Devices Program provides for more effective treatment of life-threatening or irreversibly debilitating disease or conditions, in this case the need to reverse the effects of ticagrelor in emergent or urgent cardiac surgery that can otherwise cause a high risk of serious or life-threatening bleeding. Through Breakthrough Designation, FDA will work with CytoSorbents to expedite the development, assessment, and regulatory review of CytoSorb for the removal of ticagrelor, while maintaining statutory standards of regulatory approval (e.g., 510(k), de novo 510(k) or premarket approval (PMA)) consistent with the Agency's mission to protect and promote public health.
CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader commercializing its CytoSorb® blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients around the world, today announced the appointment of Efthymios N. Deliargyris, MD, FACC, FESC, FSCAI as Chief Medical Officer, to begin employment on May 1, 2020.