secwatch.observer — SEC 8-K summary
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Issuer:     Cytosorbents Corp (CTSO)
CIK:        0001175151
Form:       8-K
Filed at:   2023-03-09T23:59:59+00:00
Accession:  0001104659-23-030654
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1175151/000110465923030654/0001104659-23-030654-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1175151/000110465923030654/tm238762d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-030654

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