June 5, 2020

Notable News Spotlight: CytoSorbents Corporation (NASDAQ:CTSO)

CytoSorbents Corporation (NASDAQ:CTSO) changed -0.75% to recent value of $9.31. The stock transacted 482065 shares during most recent day however it has an average volume of 965.53K shares. It spotted trading -9.08% off 52-week high price. On the other end, the stock has been noted 166.76% away from the low price over the last 52-weeks.

On May 05, 2020, CytoSorbents Corporation (NASDAQ:CTSO) a critical care immunotherapy leader using its CytoSorb® blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients around the world, release record financial and operational results for the quarter ending March 31, 2020.

First Quarter 2020 Financial Results:

  • Total revenue for Q1 2020 was $8.7 million, including both product sales and grant income, compared to $5.2 million in Q1 2019, a 68% increase of approximately $3.5 million
  • Product sales for Q1 2020 were $8.2 million, a 78% increase from $4.6 million for Q1 2019, and 24% sequentially over Q4 2019. On a constant exchange rate basis, Q1 2020 sales would have been $8.4 million
  • Sales growth was fueled by underlying strength in our core critical care and cardiac surgery markets, as well as demand for CytoSorb® in connection with treatment of COVID-19 patients
  • The Company entered April with its first ever sales order backlog of approximately $2.7 million, which orders are expected to be filled in Q2 2020
  • Product gross margins for Q1 2020 were 76% compared to 74% for Q1 2019 but lower from Q4 2019 due to increased costs required to rapidly scale-up CytoSorb production
  • Strong cash position of $26.4 million at March 31, 2020

CTSO has a gross margin of 70.50% and an operating margin of -76.20% while its profit margin remained -77.20% for the last 12 months. Its earnings per share (EPS) expected to touch remained -6.60% for this year.

The company has 36.05M of outstanding shares and 32.49M shares were floated in the market. According to the most recent quarter its current ratio was 2.1 that represents company’s ability to meet its current financial obligations. The price moved ahead of 13.71% from the mean of 20 days, 40.70% from mean of 50 days SMA and performed 75.60% from mean of 200 days price. Company’s performance for the week was 1.20%, 38.34% for month and YTD performance remained 141.82%.