CytoSorbents Q3 product sales up 20% to $7.8M, gross margin improves to 72%, STAR-T data expected year-end

Cytosorbents Corp

2023-Q3 EPS reported -$0.52 revenue$27,681,164

Q3 product sales $7.8M (+20% YoY); total revenue $8.8M (+9% YoY).
Product gross margin 72% vs 55% a year ago, driven by manufacturing efficiencies.
Pivotal STAR-T trial database lock nearing; initial data analysis expected before year-end.
Cash and restricted cash $10.0M; company exploring alternative financing after terminating equity offering.
Over 221,000 CytoSorb devices delivered cumulatively; expansion in Brazil approved for shock treatment.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Cytosorbents Corp reported the quarter ended September 30, 2023 results: revenue Total revenue for Q3 2023, including product sales and grant income, was $8.8 million.

Period: the quarter ended September 30, 2023
Revenue: Total revenue for Q3 2023, including product sales and grant income, was $8.8 million
Result: reported results

Exact text from the filing

On November 9, 2023, CytoSorbents Corporation (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2023.

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Source: SEC EDGAR

accession 0001104659-23-116307

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