secwatch.observer — SEC 8-K summary
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Issuer:     Cytosorbents Corp (CTSO)
CIK:        0001175151
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001104659-23-055102
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1175151/000110465923055102/0001104659-23-055102-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1175151/000110465923055102/tm2314358d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-055102

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