Health Care Equipment Supplier CytoSorbents Shares Dip Despite Projected Revenue Growth

CytoSorbents Corporation CTSO shares are trading lower on Friday after the company reported fourth-quarter 2024 preliminary results.

The company sees product revenue between $9 million and $9.2 million. That’s up 22%-25% year-over-year, and a product gross margin of around 70%, compared to 61% in the third quarter of 2024.

The gross margin improvement reflects the resolution of a planned production slowdown and a temporary manufacturing issue that impacted margins in the previous quarter.

Apart from this, CytoSorbents projects 2024 product revenue in the range of $35.4 million to $35.6 million, representing 14% growth.

Rights Offering: On Dec. 23, 2024, CytoSorbents launched a rights offering, which remains open until Jan. 10.

CytoSorbents CEO Phillip Chan said the company is preparing to enter the North American market with DrugSorb-ATR to reduce the severity of perioperative bleeding in CABG surgery due to Brilinta, pending FDA and Health Canada approvals.

The company expects regulatory decisions in 2025.

CytoSorbents plans to release full audited results for the fourth quarter on March 6.

Price Action: Cytosorbents shares are down 3.8% at 89 cents at the last check Friday.

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