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CytoSorbents Reports Fourth Quarter and Full Year 2024 Financial Results and Recent Business Highlights

CytoSorbents submitted a De Novo medical device application to the FDA in September 2024 for marketing approval of DrugSorb-ATR, aiming to reduce perioperative bleeding in CABG patients on ticagrelor, and it was accepted for substantive review in October 2024.
CytoSorbents, a leader in blood purification technologies for life-threatening conditions , aims to expand its business, as stated in their 'Business Outlook'.
CytoSorb, the company's flagship product, is approved in the European Union and distributed in over 70 countries, with more than a quarter million devices used to date, and it has received FDA Emergency Use Authorization in the U.S. For critically ill COVID-19 patients.
CytoSorbents reported a 15% increase in product revenue to $35.6 million for 2024, alongside a 47% improvement in operating loss to $16.8 million, and a 53% improvement in adjusted net loss to $12.7 million.
Despite overall growth, sales in Germany, CytoSorbents' largest market, were flat for the second consecutive year, leading to a restructuring of the direct sales team and a projected short-term disruption in sales and a modest decline in overall product sales for Q1 2025.

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CytoSorbents Reports Fourth Quarter and Full Year 2024 Financial Results and Recent Business Highlights

2024 marked by strong commercial execution and improved operating leverageCompany continues to expect DrugSorb-ATR regulatory decisions from Health Canada and US FDA in 2025Successful Rights Offering and exercise of Series A Right Warrants strengthens balance sheetStrengthening of clinical portfolio across…

3 days ago·Altavista, United States

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