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Saturday, May 28, 2022

Was Correction Expected in Cytosorbents Corp (OTCBB:CTSO)?

Cytosorbents Corp (OTCBB:CTSO) is testing support at $0.20 on decelerating volume. This one has a history of big moves and saw an explosion of interest recently after the Company announced on October 14 that they had achieved their First Quarter of Approximately $1M in CytoSorb® Sales.

The stock made an explosive move up earlier this year off its base at a dime as CTSO secured a contract from DARPA worth up to $3.8 Million pending satisfactory achievement of key milestones for its Dialysis-Like Therapeutics (DLT) program to treat sepsis.

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.

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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.

On October 14 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.

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Up-listing Progress/Business Update: As previously disclosed, CytoSorbents plans to up-list to a national exchange by the end of this year and is in the process of completing the necessary governance, internal controls and other documentation and applications needed to achieve this goal

In connection with the Company’s planned up-listing, the Company has significantly simplified its capitalization structure with the conversion of all issued and outstanding Series A Preferred Stock and Series B Preferred Stock into shares of the Company’s Common Stock, effective October 9, 2014.

Conclusion: CTSO is building a strong base over $0.20 after the recent run up off a dime. Currently trading at a $77 million market valuation CTSO has seen its share count triple over the past 5 years yet the stock is nearing the top of its trading range and threatens resistance at $0.50.

As the Company’s revenues take off and they continue their efforts to up list to a senior exchange investor sentiment remains highly bullish. Clearly CTSO deserves to be on investors watch lists here and might just provide a spectacular trade opportunity in the coming weeks and months ahead!

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Disclosure: we hold no position in CTSO either long or short and we have not been compensated for this article.

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