---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-055102"
form_type: "8-K"
ticker: "CTSO"
cik: "0001175151"
company_name: "Cytosorbents Corp"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T02:46:56.808238+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# CytoSorbents Q1 product sales flat at $7.9M; STAR-T enrollment on track; cash burn cut to $3.1M

## Summary
- Q1 product sales $7.9M flat YoY; core constant currency sales +8.3% to $8.3M; total revenue $9.4M (+9%).
- Product gross margin fell to 68% from 80% due to new manufacturing facility start-up costs.
- STAR-T trial enrollment at 80 patients (March milestone); expects enrollment completion summer 2023, topline data by year-end.
- Cash burn reduced to $3.1M from $9.1M YoY; cash $20.7M (incl $1.7M restricted); expects no material capex.
- Chairman Al Kraus retiring June 2023; Michael Bator to succeed as Chairman.

## SEC filing metadata
- accession: 0001104659-23-055102
- form_type: 8-K
- ticker: CTSO
- cik: 0001175151
- company_name: Cytosorbents Corp
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1175151/000110465923055102/0001104659-23-055102-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1175151/000110465923055102/tm2314358d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-055102
- JSON: https://secwatch.observer/filing/0001104659-23-055102.json
- Plain text: https://secwatch.observer/filing/0001104659-23-055102.txt

## Key facts
- Earnings Releases
  Cytosorbents Corp reported First Quarter 2023 results: revenue Total revenue, including product sales and grant income, for Q1 2023 was $9.4 million.
  - Period: First Quarter 2023
  - Revenue: Total revenue, including product sales and grant income, for Q1 2023 was $9.4 million
  - Result: reported results
  source text: Today reported unaudited financial and operating results for the quarter ended March 31, 2023. First Quarter 2023 Financial Results · Total revenue, including product sales and grant income, for Q1 2023 was $9.4 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1175151/000110465923055102/0001104659-23-055102-index.htm

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