CytoSorbents, Progenity Receive Funding For Product Development

The U.S Army Medical Research and Development Command has awarded CytoSorbents Corporation CTSO, a Defense Health Agency (DHA) Sequential Phase II Small Business Innovation Research (SBIR) contract of $1.5 million over 28 months.

• The funding will be used to advance the development of the K+ontrol platform to treat severe hyperkalemia induced by traumatic injury and acute kidney injury in austere medicine.
• Price Action: CTSO shares are up 0.63% at $7.96 during the market trading session on the last check Tuesday.

Progenity Inc PROG has received funding from the Crohn's & Colitis Foundation's IBD Ventures program to further develop its oral Drug Delivery System to deliver targeted therapeutics for inflammatory bowel disease.

• Progenity's lead candidates include PGN-001, a high-concentration formulation of adalimumab, and PGN-600, a high concentration, solubilized formulation of tofacitinib.
• Price Action: PROG shares are trading 5.7% higher at $2.49 during the market trading session on the last check Tuesday.