secwatch.observer — SEC 8-K summary
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Issuer:     Cytosorbents Corp (CTSO)
CIK:        0001175151
Form:       8-K
Filed at:   2025-05-14T23:59:59+00:00
Accession:  0001104659-25-048520
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CytoSorbents Q1 product rev $8.7M (-3%); FDA denies DrugSorb-ATR De Novo
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- Product revenue $8.7M, flat constant currency vs Q1 2024 $9.0M; gross margin 71% vs 77%.
- Net loss improved to $1.5M ($0.02/shr) from $6.1M; adjusted net loss $3.7M ($0.06/shr).
- FDA denied DrugSorb-ATR De Novo on Apr 25, 2025; company plans formal appeal for 2025 decision.
- Rights offering raised $6.8M net; cash & restricted cash $13.1M at Mar 31 vs $9.8M Dec 31.
- Germany sales disruption offset by E.U. distributor growth; opened Dubai subsidiary.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1175151/000110465925048520/0001104659-25-048520-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1175151/000110465925048520/tm2515144d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-048520

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer