Cytosorbents Corp (NASDAQ:CTSO) is seeing lots of action and heavy buying in recent trading as the Company continues to put out big news on several fronts. The stock is still down big after a reverse split and up-list however.
Recently CTSO announced it has signed an exclusive distribution agreement with Armaghan Salamat Kish Group (Arsak) to distribute CytoSorb® for all critical care, cardiac surgery, and other hospital applications in Iran.
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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In September CTSO announced the advanced development of its next generation, patent-pending CytoSorb-XL platform for the treatment of severe sepsis and septic shock, at the start of the 1 [st] World Sepsis Congress and on the eve of World Sepsis Day.
CytoSorb-XL is a new, state-of-the-art porous polymer bead technology that combines lipopolysaccharide (LPS) endotoxin removal with the robust cytokine, toxin, and inflammatory mediator reduction achieved by CytoSorb®. CytoSorb-XL and its novel endotoxin binding chemistry is the subject of a broad composition of matter patent application, intended to protect the technology worldwide for the next two decades.
In a head-to-head comparison with the leading endotoxin adsorber, Toraymyxin™ (Toray, Japan), CytoSorb-XL matched the level of endotoxin reduction in an in vitro plasma recirculation system on a comparable volume basis. CytoSorb-XL is expected to eliminate the need for stand-alone endotoxin specific filters by offering superior performance in the removal of not just endotoxin, but a much broader array of inflammatory mediators that drive uncontrolled deadly inflammation, organ failure, and death in sepsis.
On September 23 CTSO announced it has signed an exclusive distribution agreement with Armaghan Salamat Kish Group (Arsak) to distribute CytoSorb® for all critical care, cardiac surgery, and other hospital applications in Iran.
Mr. Mohammadreza Hosseini, Chief Executive Officer of Armaghan Salamat Kish stated, “This is a historic moment. In the past, we have seen many hospitalized patients fall victim to sepsis, the systemic inflammatory response syndrome (SIRS), and other related critical conditions. At those times, we had wished somebody, someday could do something for them and end this nightmare of the critical care world. Now, we are proud to have this agreement with CytoSorbents to help these patients ourselves.”
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Currently trading at a $182 million market valuation CTSO is down big after an epic reverse split and up list to the NASDAQ stock exchange. In March the Company announced Total revenue for 2014 was $4.1 million, which includes both product sales and grant income, compared to total revenue of $2.4 million for 2013. The stock is exploding up the charts on continued big news coming from the Company including the expansion of its flagship CytoSorb into Iran. We will be updating on CTSO when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CTSO.
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Disclosure: we hold no position in CTSO either long or short and we have not been compensated for this article.