CytoSorbents reports Q4 revenue $8.7M, consensus $9.28M

The increase in the average Euro to U.S. dollar exchange rate favorably impacted Q4 product sales by approximately $0.4M. Phillip Chan, Chief Executive Officer of CytoSorbents stated, “In 2024, we are intent on providing clarity to investors on the key factors that will determine the near-term and future success of this Company. These include visibility on submission of DrugSorb-ATR for regulatory approval to U.S. FDA and Health Canada this year, returning to significant growth in our core existing CytoSorb business outside the U.S. and Canada, continued improvements in product gross margins coupled with a right-sized operating expense structure, and adequately financing CytoSorbents for success.”