---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-030654"
form_type: "8-K"
ticker: "CTSO"
cik: "0001175151"
company_name: "Cytosorbents Corp"
filed_at: "2023-03-09T23:59:59+00:00"
generated_at: "2026-06-18T06:24:19.708915+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# CytoSorbents reports FY2022 revenue down 20% to $34.7M; STAR-T enrollment past halfway

## Summary
- FY2022 total revenue $34.7M, down 20% YoY; product sales $29.4M, down 27% due to COVID decline and FX.
- Core product sales $29.1M; on constant currency $32.2M, down 4.6% vs 2021.
- Product gross margin fell to 70% from 80% due to manufacturing relocation inefficiencies.
- STAR-T pivotal trial enrollment past halfway (target 120); expected completion summer 2023.
- Cash $23.8M at year-end; expect reduced cash burn and return to sales growth in 2023.

## SEC filing metadata
- accession: 0001104659-23-030654
- form_type: 8-K
- ticker: CTSO
- cik: 0001175151
- company_name: Cytosorbents Corp
- filed_at: 2023-03-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1175151/000110465923030654/0001104659-23-030654-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1175151/000110465923030654/tm238762d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-030654
- JSON: https://secwatch.observer/filing/0001104659-23-030654.json
- Plain text: https://secwatch.observer/filing/0001104659-23-030654.txt

## Key facts
- Earnings Releases
  Cytosorbents Corp reported the quarter and year ended December 31, 2022 results: revenue Total Revenue, which includes Product Sales and Grant Income, was $34.7 million.
  - Period: the quarter and year ended December 31, 2022
  - Revenue: Total Revenue, which includes Product Sales and Grant Income, was $34.7 million
  - Result: reported results
  source text: quarter and year ended December 31, 2022 and provides its 2023 outlook. Full Year 2022 Financial Results · 2022 Total Revenue, which includes Product Sales and Grant Income, was $34.7 million versus $43.2 million in 2021, a decrease of 20% · 2022 Product sales were $29.4 million versus $40.1 million in 2021, which included $0.3 million and $6.3 million in COVID-19
  evidence_url: https://www.sec.gov/Archives/edgar/data/1175151/000110465923030654/0001104659-23-030654-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.