secwatch.observer — SEC 8-K summary
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Issuer:     Cytosorbents Corp (CTSO)
CIK:        0001175151
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001104659-24-059457
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 up 14% to $9.0M; gross margin expands to 76%
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- Product sales $9.0M, +14% YoY from $7.9M and +22% sequentially from Q4 2023 ($7.3M).
- Product gross margins 76% (excl. $304K one-time adjustment), up from 68% in Q1 2023.
- Total revenue $9.8M (+4% YoY) as grant income fell 48% to $0.8M on completion of prior grants.
- Plans FDA De Novo and Health Canada submissions for DrugSorb-ATR in Q3 2024; STAR-T data presented at AATS.
- Cash $10.1M (incl. $1.5M restricted) expected to fund operations into Q4 2024; seeking non-dilutive financing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1175151/000110465924059457/0001104659-24-059457-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1175151/000110465924059457/tm2414028d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-059457

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