CTSO: CytoSorbents Potential for High Margin Revenue Growth Supports Price Target of $4.00 [Yahoo! Finance]
Cytosorbents Corporation (CTSO)
Last cytosorbents corporation earnings: 11/5 04:15 pm
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cytosorbents.com
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Source: Yahoo! Finance
CytoSorbents (NASDAQ:CTSO) reported 2nd quarter 2024 results on August 13th and the results were mostly above our expectations. For the 2nd quarter of 2024, total revenues increased approximately 5.0% to $9.9 million. Total product sales were $8.8 million, an increase of 9.5% from the 2nd quarter of 2023. Grant income was $1.05 million in the 2nd quarter of 2024 compared to $1.35 million in the prior year period. Product gross margin in the 2nd quarter increased to approximately 75% compared to 74% in the prior year period primarily due to greater efficiencies being realized at the new manufacturing facility in Princeton, New Jersey. As product revenues continue to grow, gross margins are expected to reach 80% over time. During the 2nd quarter, research and development expenses were approximately $1.5 million compared to approximately $3.7 million for the 2nd quarter of 2023. This decrease was primarily due to a decrease in clinical trial costs related to the completion of the ST
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CTSO
News
- CytoSorbents Submits Health Canada Medical Device License Application for DrugSorb-ATR Following MDSAP CertificationGlobeNewswire
- Cytosorbents Co. (NASDAQ: CTSO) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Cytosorbents Co. (NASDAQ: CTSO) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- FDA Accepts DrugSorb-ATR De Novo Application To Reduce the Severity of CABG-Related Bleeding Due to Ticagrelor and Initiates Substantive ReviewGlobeNewswire
- CytoSorbents to Report Third Quarter 2024 Operating and Financial ResultsGlobeNewswire
CTSO
Earnings
- 8/13/24 - Beat
CTSO
Analyst Actions
- 8/14/24 - HC Wainwright
CTSO
Sec Filings
- 10/8/24 - Form 4
- 10/8/24 - Form 4
- 10/1/24 - Form 8-K
- CTSO's page on the SEC website