secwatch.observer — SEC 8-K summary
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Issuer:     Cytosorbents Corp (CTSO)
CIK:        0001175151
Form:       8-K
Filed at:   2023-02-01T23:59:59+00:00
Accession:  0001104659-23-008819
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CytoSorbents preliminary FY2022 revenue $34.7M; core product sales constant currency down 4.6%
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- Preliminary FY2022 total revenue $34.7M vs $43.2M in 2021; product sales $29.4M (Q4 $7.6M, +18% sequentially).
- Core non-COVID product sales $29.1M; constant currency ~$32.2M, down 4.6% from 2021.
- Q4 2022 core product sales constant currency $8.5M (+6% YoY); cumulative CytoSorb treatments >195,000 (+20% YoY).
- Cash $23.8M at year end; $5M Bridge Bank term loan in Dec; expects product gross margins 75-80% in 2023.
- STAR-T trial for DrugSorb-ATR: 1/3 of 120 patients enrolled; DSMB cleared; completion expected summer 2023; FDA submission planned.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1175151/000110465923008819/0001104659-23-008819-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1175151/000110465923008819/tm234948d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-008819

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