24/7 Market News Snapshot 03 January, 2025 – Cytosorbents Corp. (NASDAQ:CTSO)

January 3, 2025

DENVER, Colo., 03 January, 2025 (247marketnews.com) – (NASDAQ:CTSO) are discussed in this article.
Cytosorbents Corporation is navigating a complex landscape as its shares experience a minor decline in pre-market trading, currently positioned at $0.918, down 0.22% from the previous closing. With a trading volume of 1.70 million shares, the activity suggests a keen response from investors to market conditions. Key levels of interest include support around $0.90 and resistance near $0.93, which traders are closely monitoring for indications of future performance amidst a prevailing bearish sentiment.

Amidst these market fluctuations, Cytosorbents has reported impressive preliminary financial results for the fourth quarter and full-year 2024. The company expects fourth quarter product revenue, excluding grant income, to be between $9.0 million and $9.2 million, reflecting a significant year-over-year increase of 22% to 25% compared to $7.35 million in the same quarter last year. Full-year product revenue is estimated at $35.4 million to $35.6 million, illustrating a solid growth rate of approximately 14% from $31.1 million in 2023. Furthermore, the anticipated gross margin for the fourth quarter is projected to reach around 70%, a notable improvement from 61% in the prior quarter.

Dr. Phillip Chan, the CEO, highlighted the strong growth trajectory as proof of the efficacy of CytoSorb® in addressing critical care challenges. The company is also gearing up for the market launch of DrugSorb™-ATR, aimed at minimizing adverse bleeding during surgeries. Additionally, a rights offering is set to conclude on January 10, 2025, while regulatory reviews for the marketing application of DrugSorb™-ATR are anticipated to yield decisions in 2025.

Cytosorbents is poised for an active start to the year, with management expected to share insights with investors at the upcoming J.P. Morgan Healthcare Conference, setting the stage for continued growth in the blood purification sector. Full audited results will be disclosed on March 6, 2025.

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