Cytosorbents Corp reported first quarter ended March 31, 2026 results: revenue $8.9 million, net income $5.1 million or $0.08 per share, EPS $0.08 per share.
“CytoSorbents Reports First Quarter 2026 Financial Results, Recent Business Highlights, and Regulatory Update PRINCETON, N .J ., May 13, 2026 — CytoSorbents Corporation (NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification, today reported financial results for the first quarter ended March 31, 2026, recent business highlight s, and provides a regulatory update. First Quarter 2026 Financial Results • Revenue was $8.9 million, an increase of 2% over the prior year, from $8.7 million • Gross margin was 69% in the quarter compared to 71% in Q1 2025 • Operating loss was $3.0 million, compared to $3.9 million in Q1 2025 • Net loss was $5.1 million or $0.08 per share, compared to a net loss of $1.5 million or $0.02 per share in Q1 2025.”
Listing & Compliance Notices
Cytosorbents Corp received a nasdaq extension granted notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).
“April 1, 2026, CytoSorbents Corporation, a Delaware corporation (the “Company”), received a letter (the “Extension Notice”) from the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) advising that the Company has been granted a 180-day extension, or until September 28, 2026, to regain compliance with the requirement to maintain a minimum bid price of $1.00 per share for continued listing on Nasdaq, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”), in accordance with Nasdaq Listing Rule 5810(c)(3)(A). If at any time prior to”
Earnings Releases
Cytosorbents Corp reported financial results for the quarter and year ended December 31, 2025.
“On March 25, 2026, CytoSorbents Corporation issued a press release announcing its financial results for the quarter and year ended December 31, 2025.”
Listing & Compliance Notices
Cytosorbents Corp received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).
“October 2, 2025, CytoSorbents Corporation (the “Company”) received written notice from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) because the Company’s common stock had fallen below $1.00 per share for 30 consecutive business days (the “Minimum Bid Price Requirement”). The written notification has no immediate effect on the listing or trading of the Company’s common stock. In accordance with applicable Nasdaq rules, the Company has 180 calendar days following the date of the written”
Auditor Changes
Cytosorbents Corp reported that prior financial statements should not be relied upon.
“On March 25, 2025, CytoSorbents Corporation (the “Company”), after consultation with the Audit Committee of the Company's Board of Directors determined that the following previously issued consolidated financial statements should no longer be relied upon, due to misstatements in inventory and stock-based compensation for restricted stock units contained in the consolidated financial statements for the year ended December 31, 2023, and should be restated”
Kathleen P. Bloch retired as Chief Financial Officer at Cytosorbents Corp.
“the Company also announced the retirement of Ms. Kathleen P. Bloch, the Company’s then serving Chief Financial Officer, and her transition into a consulting role with the Company.”
Peter J. Mariani was appointed as Chief Financial Officer at Cytosorbents Corp.
“On August 13, 2024, CytoSorbents Corporation (the “Company”) issued a press release announcing the appointment of Peter J. Mariani as the Company’s new Chief Financial Officer, effective as of August 14, 2024”
Earnings Releases
Cytosorbents Corp reported the quarter ended March 31, 2024 results: revenue $9.8 million.
“$7.9 million in Q1 2023, an increase of 14%, and up 22% sequentially from $7.3 million in Q4 2023 · Total revenue, including product sales and grant income, for Q1 2024 was $9.8 million, an increase of 4% compared to $9.4 million in Q1 2023 · Q1 2024 product gross margins increased to approximately 76%, (excluding the impact of a one-time,”
Governance Changes
Cytosorbents Corp: Amended and restated bylaws to delete stockholder list examination requirement, update advance notice disclosure requirements, delete requirement for stockholder action at meetings, and add forum selection clause (effective 2024-05-02).
“On May 2, 2024, the Board of Directors (the “Board”) of CytoSorbents Corporation (the “Company”) approved the Second Amended and Restated Bylaws of the Company (the “Bylaws”), which became effective immediately.”
Earnings Releases
Cytosorbents Corp reported quarter and year ended December 31, 2023 results: revenue $36.3 million.
“quarter and year ended December 31, 2023 and provides its 2024 outlook. Full Year 2023 Financial Results · 2023 Total Revenue, which includes Product Sales and Grant Income, was $36.3 million versus $34.7 million in 2022, an increase of approximately $1.7 million or 5% · Total product sales were $31.1 million in 2023 versus $29.4 million in 2022, an increase of”
Material Agreements
Cytosorbents Corp entered into Purchase Agreement with certain institutional and accredited investors valued at aggregate gross purchase price of $10,285,009.70 (effective 2023-12-11).
“On December 11, 2023, CytoSorbents Corporation (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with certain institutional and accredited investors (collectively, the “Investors”) for the sale by the Company directly to the Investors of an aggregate of 7,733,090 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”) together with warrants (the “Warrants”) to purchase up to 2,706,561 shares of Common Stock”
Earnings Releases
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.
“On November 9, 2023, CytoSorbents Corporation (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2023.”
Kathleen P. Bloch was appointed as Chief Financial Officer at Cytosorbents Corp.
“Ms. Bloch will continue to serve as the Company’s Chief Financial Officer.”
Alexander D'Amico resigned as Chief Financial Officer at Cytosorbents Corp.
“On August 28, 2023, the Company and Mr. D’Amico mutually agreed to terminate Mr. D’Amico’s employment with the Company.”
Earnings Releases
Cytosorbents Corp reported the quarter ended June 30, 2023 results: revenue $9.4 million.
“Q2 2023 Total Revenue was $9.4 million, an 11% increase from $8.5 million in Q2 2022.”
Alexander D'Amico was appointed as Chief Financial Officer at Cytosorbents Corp.
“Mr. D’Amico will serve as the Company’s Chief Financial Officer, effective as of August 7, 2023.”
Shareholder Votes
Cytosorbents Corp shareholders approved Ratification of the appointment of WithumSmith+Brown, PC, as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2023 at the 2023-06-06 meeting.
“Proposal No. 3 — Ratification of the Appointment of Independent Registered Public Accounting Firm The vote with respect to the ratification of the appointment of WithumSmith+Brown, PC, as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023 was as follows: For Against Abstain 29,413,721 268,190 145,215”
Shareholder Votes
Cytosorbents Corp shareholders approved Approval, on an advisory basis, of the compensation of the Company's named executive officers, disclosed pursuant to Item 402 of Regulation S-K at the 2023-06-06 meeting.
“Proposal No. 2 — Approval of the Compensation of the Company’s Named Executive Officers The vote with respect to the approval of, on an advisory basis, the compensation of the Company’s named executive officers, disclosed pursuant to Item 402 of Regulation S-K was as follows : For Against Abstain Broker Non-Votes 14,146,730 2,774,611 3,979,869 8,925,916”
Shareholder Votes
Cytosorbents Corp shareholders approved Election of five directors to serve until the Company's 2024 Annual Meeting of Stockholders, or until their respective successors shall have been duly elected and qualified at the 2023-06-06 meeting.
“Proposal No. 1 — Election of Directors The vote with respect to the election of directors was as follows: Nominees For Against Abstain Broker Non-Votes Dr. Phillip P. Chan 20,039,568 790,050 71,592 8,925,916 Dr. Edward R. Jones 20,176,235 653,457 71,518 8,925,916 Michael Bator 18,628,159 2,200,221 72,830 8,925,916 Alan D. Sobel 20,076,869 749,935 74,406 8,925,916 Jiny Kim 20,213,793 554,746 132,671 8,925,916”
Earnings Releases
Cytosorbents Corp reported First Quarter 2023 results: revenue Total revenue, including product sales and grant income, for Q1 2023 was $9.4 million.
“Today reported unaudited financial and operating results for the quarter ended March 31, 2023. First Quarter 2023 Financial Results · Total revenue, including product sales and grant income, for Q1 2023 was $9.4 million”
Al W. Kraus departed as Chairman of the Board at Cytosorbents Corp.
“On April 17, 2023, Al W. Kraus notified the Board of Directors (the “Board”) of CytoSorbents Corporation (the “Company”) of his intent to retire and that he will not stand for reelection as a member of the Board”
Kathleen P. Bloch was appointed as Interim Chief Financial Officer at Cytosorbents Corp.
“Ms. Bloch will serve as a consultant to the Company and as the Company’s Interim Chief Financial Officer.”
Kathleen P. Bloch retired as Chief Financial Officer at Cytosorbents Corp.
“Ms. Kathleen P. Bloch retired from her role as Chief Financial Officer of CytoSorbents Corporation (the “ Company ”), effective as of March 31, 2023.”
Earnings Releases
Cytosorbents Corp reported the quarter and year ended December 31, 2022 results: revenue Total Revenue, which includes Product Sales and Grant Income, was $34.7 million.
“quarter and year ended December 31, 2022 and provides its 2023 outlook. Full Year 2022 Financial Results · 2022 Total Revenue, which includes Product Sales and Grant Income, was $34.7 million versus $43.2 million in 2021, a decrease of 20% · 2022 Product sales were $29.4 million versus $40.1 million in 2021, which included $0.3 million and $6.3 million in COVID-19”
“Q4 2022 Total Revenue was approximately $9.4 million versus $10.8 million in Q4 2021, and versus $7.4 million in pre-pandemic Q4 2019”
Earnings Releases
Cytosorbents Corp reported preliminary unaudited full year 2022 results: revenue approximately $34.7 million.
“Preliminary unaudited 2022 Total Revenue, which includes Product Sales and Grant Revenue, was approximately $34.7 million versus $43.2 million in 2021, and $24.9 million in pre-pandemic 2019”
Material Agreements
Cytosorbents Corp amended Fifth Amendment with Bridge Bank valued at $10 million (effective 2022-12-28).
“On December 28, 2022 (the “ Fifth Amendment Date ”), CytoSorbents Corporation, a Delaware corporation (the “ Company ”), CytoSorbents Medical, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“ CytoSorbents Medical ” and, together with the Company, the “ Borrower ”) and Bridge Bank, a division of Western Alliance Bank, an Arizona corporation (the “ Bank ”), entered into an amendment (the “ Fifth Amendment ”) to that certain Amended and Restated Loan and Security Agreement”
“and operating results for the quarter ended September 30, 2022. Third Quarter 2022 Financial Results · Total revenue, including product sales and grant income, for Q3 2022 was $8.1 million, a decrease of 17% compared to $9.8 million in Q3 2021 · Q3 2022 product sales were $6.5 million (negligible COVID-related sales) versus $8.9 million (includes $1.1 million in”
Kathleen P. Bloch retired as Chief Financial Officer at Cytosorbents Corp.
“On September 30, 2022, Ms. Kathleen P. Bloch notified CytoSorbents Corporation (the “Company”) and the Board of Directors (the “Board”) of her decision to retire from her role as Chief Financial Officer of the Company, effective as of March 31, 2023.”
Jiny Kim was appointed as Director at Cytosorbents Corp.
“On April 1, 2022, the Board of Directors (the "Board") of CytoSorbents Corporation (the "Company") increased the size of the Board from five to six, and upon the recommendation of the Company’s Nominating and Corporate Governance Committee, appointed Ms. Jiny Kim to the Board to fill the resulting vacancy.”
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