CytoSorbents reports Q3 product revenue $8.6M (+11% YoY); net loss narrows to $2.3M

Cytosorbents Corp

2024-Q3 EPS reported -$0.24 revenue$29,071,316

Product revenue $8.6M (+11% YoY); total revenue $9.4M; net loss $2.3M ($0.04/sh) vs $9.2M loss in Q3 2023.
Product gross margins fell to 61% from 72% due to production slowdown and manufacturing issue now resolved.
Adjusted EBITDA loss improved to $3.6M from $5.6M in Q3 2023; cash $12.2M at quarter-end vs $14.9M Q2 2024.
DrugSorb-ATR De Novo application submitted to FDA Sep 27, accepted for review Oct 22; eligible for priority review.
Received MDSAP certification Nov 1; submitted MDL application to Health Canada Nov 1.

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