Cytosorbents Corp (NASDAQ:CTSO) is coming back strong after a shack to just over $9 a share. The stock has been upwards on huge strength in recent days hitting a high of $12.86. The ticker symbol has changed back to CTSO from CTSOD after the 1 for 25 reverse split of the stock. The Company said on December 15 that its common stock has been approved for listing on The NASDAQ Capital Market. Shares are expected to begin trading on The NASDAQ Capital Market on Tuesday, December 23, 2014 under the ticker symbol “CTSO”.
CTSO said on December 15 that that they have entered into a multi-country strategic partnership with Fresenius Medical Care AG & CO KGaA to commercialize CytoSorbents’ CytoSorb® therapy.
Under the terms of the agreement, Fresenius Medical Care will have the exclusive rights to distribute CytoSorb® for critical care applications in France, Poland, Sweden, Denmark, Norway, and Finland. The partnership will allow Fresenius Medical Care to offer an innovative and easy to use blood purification therapy for removing cytokines in patients that are treated in the intensive care unit.
Over the past 6 years CTSO has traded in a range between $0.05 and $0.50. The current move puts CTSO near the top of its range with a break over $0.50 representing a significant technical breakthrough.
Cytosorbents Corp (OTCBB:CTSO) is a critical care focused immunotherapy company using blood purification to modulate inflammation — with the goal of preventing or treating multiple organ failure in life-threatening illnesses. Organ failure is the cause of nearly half of all deaths in the intensive care unit, with little to improve clinical outcome.
CytoSorb®, the Company’s flagship product, is approved in the European Union as a safe and effective extracorporeal cytokine adsorber, designed to reduce the “cytokine storm” that could otherwise cause massive inflammation, organ failure and death in common critical illnesses such as sepsis, burn injury, trauma, lung injury, and pancreatitis. These are conditions where the risk of death is extremely high, yet no effective treatments exist. CytoSorb® is also being used during and after cardiac surgery to try to remove inflammatory mediators, such as cytokines and free hemoglobin, which can lead to post-operative complications, including multiple organ failure.
CytoSorbents’ purification technologies are based on biocompatible, highly porous polymer beads that can actively remove toxic substances from blood and other bodily fluids by pore capture and surface adsorption. CytoSorbents has numerous products under development based upon this unique blood purification technology, protected by 32 issued U.S. patents and multiple applications pending, including HemoDefend™, ContrastSorb, DrugSorb, and others.
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CTSO recently highlighted recent treatment successes published in peer-reviewed journal articles. By filtering blood outside the body, CytoSorb® can reduce toxic levels of cytokines and other substances causing deadly inflammation, and now has been used to help stabilize and save the lives of many patients.
Back in October CTSO provided a preliminary update on Q3 2014 operating and business progress as well as an update on its planned up-listing efforts. CytoSorbents Operating Progress: CytoSorbents expects to report CytoSorb® product revenue of approximately $1 million for Q3 2014, a first in the Company’s history. This will represent a greater than 50% increase in CytoSorb® sales over the prior quarter, and a more than 390% increase in sales compared to Q3 2013
Trailing twelve month sales of CytoSorb®, as of Q3 2014, is also expected to increase to approximately $2.6 million with continued momentum expected through the end of this year. Preliminary results indicate that sales of CytoSorb® benefitted from strong usage and re-order rates from most existing territories where CytoSorb® is currently being sold.
CTSO is making a highly explosive move up on record breaking volume in recent days. The big move up comes after the Company affected a 1 for 25 reverse split of the stock. As the Company’s revenues take off and they continue their efforts to up list to a senior exchange investor sentiment remains highly positive as CTSOD is one of the top traded stocks on the entire bb’s.
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Disclosure: we hold no position in CTSO either long or short and we have not been compensated for this article.