secwatch.observer — SEC 8-K summary
======================================

Issuer:     Cytosorbents Corp (CTSO)
CIK:        0001175151
Form:       8-K
Filed at:   2026-05-13T20:05:35+00:00
Accession:  0000929638-26-001834
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Q1 rev $8.9M (+2%); net loss $5.1M; DrugSorb-ATR FDA submission delayed to late 2026/early 2027
--------------------------------------------------------------------------------

- Revenue $8.9M, +2% YoY; gross margin 69% vs 71% in Q1 2025.
- Net loss $5.1M ($0.08/share) vs $1.5M ($0.02) in Q1 2025, driven by non-cash FX; adjusted net loss improved to $3.4M ($0.05).
- Cash $6.4M vs $7.8M Dec 31; cash burn $1.1M (excl. $0.3M restructuring); targeting operating cash flow breakeven H2 2026.
- DrugSorb-ATR for Brilinta: new De Novo submission delayed to late 2026/early 2027 after FDA requested additional mechanistic data.
- Distributor orders delayed ~$500k in Middle East due to U.S.-Iran war; Germany direct sales slightly down but with smaller team.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1175151/000092963826001834/0000929638-26-001834-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1175151/000092963826001834/a8k.htm
  HTML page:      https://secwatch.observer/filing/0000929638-26-001834

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer