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CytoSorbents Corporation (NASDAQ:CTSO), a medical device company based in Princeton, New Jersey, with a market capitalization of approximately $69 million and current trading price of $1.09, disclosed in a recent SEC filing that its Series B Right Warrants have expired without value. On Tuesday, the company reported that the 5-day volume-weighted average price of its common stock, leading up to Monday, fell short of the $2.00 minimum required price specified in the Prospectus for the Rights Offering. According to InvestingPro analysis, the company is quickly burning through cash, though it maintains a healthy current ratio of 2.61.
As a result of the price shortfall, the warrants issued in connection with the Rights Offering became void according to their terms. Consequently, any funds received for the exercise of these warrants that were not applied will be returned to the respective investors without interest or penalty. Despite recent challenges, the company has shown strong revenue growth of 15.37% and maintains a robust gross profit margin of 69.23%.
This financial update is disclosed in compliance with Regulation FD and does not constitute a filing for Section 18 of the Securities Exchange Act of 1934, nor is it incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as explicitly referenced in such a filing.
CytoSorbents Corporation, incorporated in Delaware and listed under the ticker CTSO on the Nasdaq Capital Market, is known for its work in the field of surgical and medical instruments and apparatus. The company’s administrative headquarters are located at 305 College Road East, Princeton, New Jersey, with the business phone number listed as (732) 329-8885. Based on InvestingPro’s Fair Value analysis, the stock appears overvalued at current levels. For deeper insights into CTSO’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
The information provided in this article is based on a press release statement.
In other recent news, CytoSorbents Corporation reported its first-quarter 2025 financial results, revealing a larger-than-expected loss in earnings per share (EPS) and a revenue shortfall. The company’s EPS was -$0.06, missing the forecast of -$0.05, while revenue fell to $8.7 million, below the expected $10.82 million. Despite these financial challenges, CytoSorbents demonstrated a 17% improvement in operating loss year-over-year, highlighting improved operational efficiency. Additionally, the company maintained a strong gross margin of 71%, indicating stability in its core operations. Meanwhile, CytoSorbents presented significant findings at the EuroPCR 2025 conference, showcasing the effectiveness of its CytoSorb® device in reducing severe bleeding complications during coronary artery bypass grafting (CABG) surgeries. The study highlighted a notable decrease in severe bleeding incidents and large transfusion events, supporting the device’s clinical value. As the company awaits regulatory decisions for its DrugSorb-ATR system in the United States and Canada, the real-world data from the STAR Registry underscores the potential of CytoSorbents’ technology. These developments come amid the company’s strategic initiatives, including the establishment of a new subsidiary in Dubai and ongoing FDA appeals.
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