{"id":454210,"date":"2021-03-09T16:18:23","date_gmt":"2021-03-09T21:18:23","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=454210"},"modified":"2021-03-09T16:18:23","modified_gmt":"2021-03-09T21:18:23","slug":"cytosorbents-announces-2020-financial-and-operational-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-announces-2020-financial-and-operational-results\/","title":{"rendered":"CytoSorbents Announces 2020 Financial and Operational Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">2020 Total Revenue was $41.0 million, with 2020 Product Sales of $39.5 million, up 73% over 2019.  Achieved record Product Gross Margins of 82% for Q4 2020<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">MONMOUTH JUNCTION, N.J.<\/span>, <span class=\"xn-chron\">March 9, 2021<\/span> \/PRNewswire\/ &#8212; <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=3335640808&amp;u=http%3A%2F%2Fcytosorbents.com%2F&amp;a=CytoSorbents+Corporation\" rel=\"nofollow noopener noreferrer\">CytoSorbents Corporation<\/a>\u00a0(NASDAQ: CTSO), a critical care immunotherapy leader commercializing its <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=3239698291&amp;u=http%3A%2F%2Fcytosorb-therapy.com%2F&amp;a=CytoSorb\" rel=\"nofollow noopener noreferrer\">CytoSorb<\/a>\u00ae blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients around the world,\u00a0achieves record Total Revenue and CytoSorb\u00ae sales in 2020, and record Product Gross Margins in Q4 2020.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1096384\/CytoSorbents_Working_To_Save_Lives_Logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1096384\/CytoSorbents_Working_To_Save_Lives_Logo.jpg\" title=\"CytoSorbents Corporation (NASDAQ: CTSO) is a leader in blood purification to treat cytokine storm and deadly inflammation in life-threatening illnesses and during cardiac surgery with its flagship product, CytoSorb.  CytoSorb is approved in the European Union and distributed in 67 countries worldwide. (PRNewsfoto\/CytoSorbents Corporation)\" alt=\"CytoSorbents Corporation (NASDAQ: CTSO) is a leader in blood purification to treat cytokine storm and deadly inflammation in life-threatening illnesses and during cardiac surgery with its flagship product, CytoSorb.  CytoSorb is approved in the European Union and distributed in 67 countries worldwide. (PRNewsfoto\/CytoSorbents Corporation)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p \/>\n<div id=\"divReleaseHighlight8ae6\">CytoSorbents Reports Strong 2020 Growth with Record Total Revenue of <span class=\"xn-money\">$41M<\/span> and Product Sales of <span class=\"xn-money\">$39.5M<\/span><\/div>\n<p>2020 Financial Highlights:<\/p>\n<p \/>\n<p \/>\n<p \/>\n<p>\n        <i><br \/>\n          <u>Full Year 2020 Results<\/u><br \/>\n        <\/i>\n      <\/p>\n<ul type=\"disc\">\n<li>2020 Total Revenue was approximately <span class=\"xn-money\">$41.0M<\/span> compared to <span class=\"xn-money\">$24.9M<\/span> in 2019 <\/li>\n<li>2020 Product Sales were approximately <span class=\"xn-money\">$39.5M<\/span> compared to <span class=\"xn-money\">$22.8M<\/span> in 2019, an increase of approximately <span class=\"xn-money\">$16.7M<\/span>, or 73% over 2019 <\/li>\n<li>Our underlying core non-COVID-19 business in critical care and cardiac surgery grew 32% in 2020 over 2019 and accounted for 76% of Product Sales. Sales attributable to COVID-19 were approximately <span class=\"xn-money\">$9.4 million<\/span><\/li>\n<li>Achieved Product Gross Margins of 76% over the year, despite additional costs associated with the rapid ramp up of production and the increase in lower margin distributor sales <\/li>\n<li>Healthy cash balance of <span class=\"xn-money\">$71.4M<\/span> at the end of <span class=\"xn-chron\">December 2020<\/span>, following the repayment of <span class=\"xn-money\">$15M<\/span> of long-term debt in Q4 2020 <\/li>\n<li>Received approval of the sale of our 2019 New Jersey NOL and R&amp;D tax credits which will generate cash proceeds of approximately <span class=\"xn-money\">$1.1M<\/span>, expected to be received in Q1 2021<\/li>\n<\/ul>\n<p>\n        <i><br \/>\n          <u>Q4 2020 Results<\/u><br \/>\n        <\/i>\n      <\/p>\n<ul type=\"disc\">\n<li>Q4 2020 total revenue was approximately <span class=\"xn-money\">$12.0 million<\/span> versus <span class=\"xn-money\">$7.4 million<\/span> a year ago <\/li>\n<li>Product sales growth accelerated in Q4 2020, with record quarterly product sales of approximately <span class=\"xn-money\">$11.5 million<\/span>, a 74% increase from <span class=\"xn-money\">$6.6 million<\/span> in Q4 2019 <\/li>\n<li>Product gross margins were a record high of 82% in Q4 2020 versus 80% in Q4 2019 <\/li>\n<\/ul>\n<p>\n        <b><br \/>\n          <i>2020 Operating Highlights:<\/i><br \/>\n        <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Exceeded 121,000 cumulative CytoSorb treatments delivered, up from 80,000 in 2019 <\/li>\n<li>Solidified our balance sheet with a <span class=\"xn-money\">$57.5 million<\/span> financing led by Cowen and SVB Leerink <\/li>\n<li>The COVID-19 pandemic highlighted CytoSorb as one of the key ways to treat the cytokine storm and hyperinflammation that predicts the severity of COVID-19 illness and risk of death <\/li>\n<ul type=\"circle\">\n<li>CytoSorb was included into the treatment guidelines or specifically approved to treat COVID-19 in many countries <\/li>\n<li>Used to treat more than 5,000 COVID-19 patients across more than 30 countries, including the U.S. <\/li>\n<li>CytoSorb received <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=262747960&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fus-fda-grants-cytosorb-emergency-use-authorization-for-use-in-patients-with-covid-19-infection-301039293.html&amp;a=FDA+Emergency+Use+Authorization\" rel=\"nofollow noopener noreferrer\">FDA Emergency Use Authorization<\/a> for use in adult, critically ill COVID-19 patients with imminent or confirmed respiratory failure <\/li>\n<li>Established business collaborations with <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=3905879551&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorbents-partners-with-invosurg-and-surgical-partners-to-commercialize-cytosorb-in-the-us-northeast-mid-atlantic-and-florida-under-fda-emergency-use-authorization-for-covid-19-301112981.html&amp;a=multiple+partners\" rel=\"nofollow noopener noreferrer\">multiple partners<\/a>, including <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=4222738691&amp;u=https%3A%2F%2Fwww.terumo.com%2Fpressrelease%2Fdetail%2F20200824%2F560%2Findex.html&amp;a=Terumo+Cardiovascular\" rel=\"nofollow noopener noreferrer\">Terumo Cardiovascular<\/a>, to market CytoSorb in the majority of U.S. states under CytoSorb&#8217;s FDA EUA for COVID-19 patients <\/li>\n<li>Implemented the <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=2685948785&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorbents-announces-the-cytosorb-therapy-in-covid-19-icu-patients-ctc-registry-is-actively-enrolling-301125341.html&amp;a=CTC+(CytoSorb+Therapy+in+COVID-19)+registry\" rel=\"nofollow noopener noreferrer\">CTC (CytoSorb Therapy in COVID-19) registry<\/a> which is currently enrolling <\/li>\n<li>Conducted <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=3278534120&amp;u=https%3A%2F%2Fcytosorb-therapy.com%2Fen%2Fcovid-19%2F&amp;a=many+webinars\" rel=\"nofollow noopener noreferrer\">many webinars<\/a> with speakers from throughout the world to share their data using CytoSorb to successfully treat critically ill COVID-19 patients <\/li>\n<li>Was a net positive to help drive 2020 sales of CytoSorb for our underlying core businesses in critical care and cardiac surgery, though the impact was mixed as it interrupted our normal sales processes and reduced our normal patient mix <\/li>\n<\/ul>\n<li>\n          <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=2249073684&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorbents-appoints-dr-efthymios-n-deliargyris-md-as-chief-medical-officer-301047346.html&amp;a=Appointed+Dr.+Efthymios+Deliargyris+as+Chief+Medical+Officer\" rel=\"nofollow noopener noreferrer\">Appointed Dr. Efthymios Deliargyris as Chief Medical Officer<\/a> &#8211; a cardiologist, interventional cardiologist, and subject matter expert in antithrombotic therapy, whose clinical development efforts at The Medicines Company contributed to bivalirudin&#8217;s blockbuster status in interventional cardiology and to the approval of cangrelor, in the same anti-platelet class as ticagrelor <\/li>\n<li>Advanced the antithrombotic removal application significantly <\/li>\n<ul type=\"circle\">\n<li>Achieved CytoSorb E.U. approval to remove the widely-used antithrombotics, <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=1966548248&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorb-is-approved-and-available-for-the-removal-of-ticagrelor-a-leading-anti-platelet-drug-during-cardiopulmonary-bypass-in-the-eu-300995215.html&amp;a=ticagrelor\" rel=\"nofollow noopener noreferrer\">ticagrelor<\/a> and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=1203091139&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorb-is-eu-approved-to-remove-rivaroxaban-a-leading-factor-xa-inhibitor-and-novel-oral-anticoagulant-during-on-pump-cardiothoracic-surgery-301057276.html&amp;a=rivaroxaban\" rel=\"nofollow noopener noreferrer\">rivaroxaban<\/a>, during urgent or emergent cardiothoracic surgery allowing us to begin on-label marketing for this application <\/li>\n<li>Received <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=614578802&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fdevelopment-update-us-fda-grants-breakthrough-designation-to-cytosorb-for-removal-of-ticagrelor-during-cardiopulmonary-bypass-in-emergent-and-urgent-cardiothoracic-surgery-301043326.html&amp;a=FDA+Breakthrough+Designation\" rel=\"nofollow noopener noreferrer\">FDA Breakthrough Designation<\/a> for the removal of ticagrelor during emergent and urgent cardiothoracic surgery <\/li>\n<li>Hosted multiple webinars, including the &#8220;<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=3386804936&amp;u=https%3A%2F%2Flifescipartners.zoom.us%2Fwebinar%2Fregister%2FWN_QS3pzVugTJy6nw_yUow8SA&amp;a=Use+of+CytoSorb+to+Remove+Antithrombotic+Medications+in+Patients+at+Risk+of+Bleeding\" rel=\"nofollow noopener noreferrer\">Use of CytoSorb to Remove Antithrombotic Medications in Patients at Risk of Bleeding<\/a>&#8221; highlighting the scientific rationale, current data, and economic potential of the removal of antithrombotic &#8220;blood thinner&#8221; agents by CytoSorb <\/li>\n<li>The U.K. National Institute for Health and Care Excellence (NICE), viewed by most as the world&#8217;s leading authority in evaluating the cost-effectiveness of novel therapies, recently issued a <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=1867071088&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fnational-institute-for-health-and-care-excellence-nice-issues-medtech-innovation-briefing-on-cytosorb-for-reducing-risk-of-bleeding-during-cardiac-surgery-301222056.html&amp;a=Medtech+Innovation+Briefing+on+CytoSorb\" rel=\"nofollow noopener noreferrer\">Medtech Innovation Briefing on CytoSorb<\/a> for reducing risk of bleeding during cardiac surgery by removing ticagrelor intraoperatively, highlighting the unique potential of CytoSorb to improve clinical outcomes that can lead to substantial cost savings to hospital systems.<\/li>\n<\/ul>\n<li>Nearly <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=1936898111&amp;u=https%3A%2F%2Fliterature.cytosorb-therapy.com%2F&amp;a=70+published%2C+peer-reviewed+articles\" rel=\"nofollow noopener noreferrer\">70 published, peer-reviewed articles<\/a>, 52 &#8220;<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=1987045697&amp;u=https%3A%2F%2Fliterature.cytosorb-therapy.com%2F&amp;a=Cases+of+the+Week\" rel=\"nofollow noopener noreferrer\">Cases of the Week<\/a>&#8220;, and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=786575426&amp;u=https%3A%2F%2Fcytosorb-therapy.com%2Fen%2Fevent%2F&amp;a=multiple+webinar+presentations\" rel=\"nofollow noopener noreferrer\">multiple webinar presentations<\/a> highlighting the clinical benefit and utility of CytoSorb therapy in many different studies. Common themes include a reduction in inflammatory mediators, a stabilization of blood pressure, an improvement in lung function, and often an improvement in survival. <\/li>\n<ul type=\"circle\">\n<li>\n            <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=554433075&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fnew-study-suggests-cytosorb-improves-clinical-outcomes-in-pneumonia-patients-with-septic-shock-and-acute-respiratory-distress-syndrome-ards-on-ecmo-301040883.html&amp;a=Early+use+of+CytoSorb+and+ECMO+in+13+hyper-inflamed+patients+with+septic+shock+and+acute+respiratory+distress+syndrome+from+pneumonia\" rel=\"nofollow noopener noreferrer\">Early use of CytoSorb and ECMO in 13 hyper-inflamed patients with septic shock and acute respiratory distress syndrome from pneumonia<\/a> led to 100% 30-day and 60-day survival (vs. 57% 30-day mortality in historic control) and a mean time on ECMO of 8 days (range 2-20 days) in a prospectively enrolled study <\/li>\n<li>\n            <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=3118032795&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorbents-highlights-largest-published-case-series-to-date-using-cytosorb-in-critically-ill-covid-19-patients-301180339.html&amp;a=Largest+case+series+using+CytoSorb+with+continuous+renal+replacement+therapy+(CRRT)+in+50+critically+ill+mechanically+ventilated+COVID-19+patients+in+shock\" rel=\"nofollow noopener noreferrer\">Largest case series using CytoSorb with continuous renal replacement therapy (CRRT) in 50 critically ill mechanically ventilated COVID-19 patients in shock<\/a> with reduction in inflammatory mediators, weaning from mechanical ventilation and vasopressors, and survival in 70% of patients <\/li>\n<li>In an <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=3577054518&amp;u=https%3A%2F%2Fpubmed.ncbi.nlm.nih.gov%2F33181508%2F&amp;a=observational+study+in+9+consecutive+critically+ill+COVID-19+patients+before+mechanical+ventilation+was+required\" rel=\"nofollow noopener noreferrer\">observational study in 9 consecutive critically ill COVID-19 patients before mechanical ventilation was required<\/a>, early use of CytoSorb with CRRT in 5 patients was compared with 4 patients who did not receive CytoSorb with improvements in survival (80% vs 0% control) and avoidance of mechanical ventilation (60% vs 0% control) <\/li>\n<li>Single center, retrospective analysis of the <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=812082908&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorbents-highlights-recent-publication-using-cytosorb-during-cardiac-surgery-for-infective-endocarditits-301014190.html&amp;a=intraoperative+use+of+CytoSorb+in+patients+with+native+mitral+valve+endocarditis\" rel=\"nofollow noopener noreferrer\">intraoperative use of CytoSorb in patients with native mitral valve endocarditis<\/a> demonstrated improved postoperative hemodynamic stability at ICU admission, less post-operative sepsis and related mortality, and a trend to benefit in survival. <\/li>\n<li>\n            <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=2424265400&amp;u=https%3A%2F%2Fcytosorbents.com%2Fearly-cytosorb-initiation-improves-hemodynamic-stabilization-and-survival-in-new-septic-shock-study%2F&amp;a=Rapid+improvement+in+blood+pressure+and+increased+survival%2C+using+CytoSorb+with+continuous+renal+replacement+therapy+in+42+patients+with+septic+shock+and+renal+failure\" rel=\"nofollow noopener noreferrer\">Rapid improvement in blood pressure and increased survival, using CytoSorb with continuous renal replacement therapy in 42 patients with septic shock and renal failure<\/a>, compared to 42 matched controls in a retrospective single center &#8220;genetic matched&#8221; analysis <\/li>\n<li>First case report on the <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=1605245794&amp;u=https%3A%2F%2Fpubmed.ncbi.nlm.nih.gov%2F33106093%2F&amp;a=successful+removal+of+apixaban+(Eliquis%C2%AE%2C+Pfizer%2C+Bristol+Myers+Squibb)\" rel=\"nofollow noopener noreferrer\">successful removal of apixaban (Eliquis\u00ae, Pfizer, Bristol Myers Squibb)<\/a>, during emergency cardiac surgery. Eliquis is one of the 10 best-selling pharmaceuticals in the world and the leading antithrombotic with approximately <span class=\"xn-money\">$14 billion<\/span> in combined 2020 worldwide sales <\/li>\n<li>First case report reporting the successful use of <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=3227292799&amp;u=https%3A%2F%2Fpubmed.ncbi.nlm.nih.gov%2F32407851%2F&amp;a=CytoSorb+hemoperfusion+preoperatively+in+a+patient+loaded+on+both+ticagrelor+and+rivaroxaban+in+emergent+off-pump+coronary+artery+bypass.\" rel=\"nofollow noopener noreferrer\">CytoSorb hemoperfusion preoperatively in a patient loaded on both ticagrelor and rivaroxaban in emergent <b>off-pump<\/b> coronary artery bypass.<\/a><\/li>\n<li>\n            <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=843555033&amp;u=https%3A%2F%2Fjournals.sagepub.com%2Fdoi%2Fabs%2F10.1177%2F0391398820981383%3FjournalCode%3Djaoa&amp;a=Largest+prospectively+enrolled+case+series+to+date+using+CytoSorb+with+continuous+venovenous+hemodiafiltration+in+28+patients+with+acute+liver+failure\" rel=\"nofollow noopener noreferrer\">Largest prospectively enrolled case series to date using CytoSorb with continuous venovenous hemodiafiltration in 28 patients with acute liver failure<\/a>, associated with statistically significant reductions in bilirubin, ammonia, C-reactive protein, and creatinine. <\/li>\n<li>Use of <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=3404891481&amp;u=https%3A%2F%2Fpubmed.ncbi.nlm.nih.gov%2F32201002%2F&amp;a=cytokine+hemoadsorption+in+ex+vivo+lung+perfusion\" rel=\"nofollow noopener noreferrer\">cytokine hemoadsorption in <i>ex vivo<\/i> lung perfusion<\/a> improved immediate post-transplant lung function with less inflammation in response to reperfusion in a porcine model. This has important positive implications for our ECOS-300CY\u00ae therapy <\/li>\n<li>\n            <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=1530121633&amp;u=https%3A%2F%2Fwww.nature.com%2Farticles%2Fs41598-020-57727-y&amp;a=CytoSorb+improves+survival+of+rats+exposed+to+an+acutely+lethal+dose+of+aflatoxin\" rel=\"nofollow noopener noreferrer\">CytoSorb improves survival of rats exposed to an acutely lethal dose of aflatoxin<\/a>\n          <\/li>\n<\/ul>\n<li>\n          <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=2159786675&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorb-used-successfully-to-help-treat-grade-4-cytokine-release-syndrome-following-car-t-cell-immunotherapy-in-first-published-case-report-300999444.html&amp;a=CytoSorb+used+to+rescue+a+patient+with+Grade+4+cytokine+release+syndrome+following+CAR+T-cell+immunotherapy+in+first+published+case+report\" rel=\"nofollow noopener noreferrer\">CytoSorb used to rescue a patient with Grade 4 cytokine release syndrome following CAR T-cell immunotherapy in first published case report<\/a>\n        <\/li>\n<li>\n          <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=4170982939&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorbents-announces-commercial-launch-and-immediate-availability-of-cytosorb-to-treat-cytokine-storm-in-many-latin-american-countries-as-covid-19-cases-rise-301082780.html&amp;a=Expanded+throughout+Latin+America\" rel=\"nofollow noopener noreferrer\">Expanded throughout <span class=\"xn-location\">Latin America<\/span><\/a>, with CytoSorb registration in all major Latin American countries, including <span class=\"xn-location\">Brazil<\/span>, <span class=\"xn-location\">Mexico<\/span>, <span class=\"xn-location\">Colombia<\/span>, <span class=\"xn-location\">Argentina<\/span>, <span class=\"xn-location\">Peru<\/span>, <span class=\"xn-location\">Venezuela<\/span>, <span class=\"xn-location\">Chile<\/span>, and others <\/li>\n<li>Promoted <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=4210171871&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorbents-promotes-vincent-j-capponi-to-president-301051691.html&amp;a=Vince+Capponi\" rel=\"nofollow noopener noreferrer\"><span class=\"xn-person\">Vince Capponi<\/span><\/a> to President and Chief Operating Officer, and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=1908718391&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorbents-promotes-dr-christian-steiner-to-executive-vice-president-of-sales-and-marketing-301194891.html&amp;a=Dr.+Christian+Steiner\" rel=\"nofollow noopener noreferrer\">Dr. <span class=\"xn-person\">Christian Steiner<\/span><\/a> to Executive Vice President of Sales and Marketing <\/li>\n<li>Awarded approximately <span class=\"xn-money\">$8.4 million<\/span> in total contract funding from the U.S. Army and the U.S. Department of Defense to complete development of the <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=2617614561&amp;u=https%3A%2F%2Fcytosorbents.com%2Fthe-u-s-department-of-defense-awards-1-1-million-to-cytosorbents-to-optimize-development-of-hemodefend-bga-for-life-saving-universal-plasma%2F&amp;a=HemoDefend-BGA+adsorber\" rel=\"nofollow noopener noreferrer\">HemoDefend-BGA adsorber<\/a> to enable universal plasma and improve the safety of whole blood transfusion <\/li>\n<li>Announced the <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=3417268978&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorbents-and-aferetica-announce-european-union-approval-of-the-perlife-system-and-ecos-300cy-persorb-cartridge-for-combined-perfusion-and-purification-of-solid-organs-dedicated-to-transplant-301151951.html&amp;a=E.U.+approval+of+the+ECOS-300CY+cartridge+for+use+in+ex+vivo+organ+perfusion+of+solid+organs\" rel=\"nofollow noopener noreferrer\">E.U. approval of the ECOS-300CY cartridge for use in <i>ex vivo<\/i> organ perfusion of solid organs<\/a> dedicated to transplant, which has been designated, PerSorb\u2122, a trade name exclusive to our partner Aferetica&#8217;s PerLife\u2122 E.U. approved organ perfusion system <\/li>\n<li>Added new analyst coverage from Jefferies and SVB Leerink, and increased our <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=3593588098&amp;u=https%3A%2F%2Fwww.nasdaq.com%2Fmarket-activity%2Fstocks%2Fctso%2Finstitutional-holdings&amp;a=institutional+ownership+to+approximately+40%25+(12%2F31%2F20)\" rel=\"nofollow noopener noreferrer\">institutional ownership to approximately 40% (12\/31\/20)<\/a><\/li>\n<\/ul>\n<p>Dr. <span class=\"xn-person\">Phillip Chan<\/span>, MD, PhD, Chief Executive Officer of CytoSorbents stated, &#8220;In our recent <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=2424288165&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorbents-2021--leadership-and-growth-in-the-new-normal-301230805.html&amp;a=stockholder+letter\" rel=\"nofollow noopener noreferrer\">stockholder letter<\/a>, I discussed how the company successfully navigated a challenging 2020 and outlined our expectation for continued growth this year as we eventually transition from COVID-19 to the &#8216;new normal.&#8217;\u00a0 I would encourage you to read the letter if you have not already done so.&#8221;<\/p>\n<p>&#8220;In addition to our business objectives, we are focused on executing our clinical plan to support regulatory approvals, inclusion into standard treatment guidelines, and reimbursement.\u00a0 Our emphasis is to conduct rigorous, adequately powered, multi-center, company sponsored clinical trials.\u00a0 To this end, we have significantly expanded our clinical trial operational capabilities and will continue to do so in 2021.&#8221;<\/p>\n<p>&#8220;Our first priority is to leverage our <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=1629753498&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fdevelopment-update-us-fda-grants-breakthrough-designation-to-cytosorb-for-removal-of-ticagrelor-during-cardiopulmonary-bypass-in-emergent-and-urgent-cardiothoracic-surgery-301043326.html&amp;a=Breakthrough+Designation\" rel=\"nofollow noopener noreferrer\">Breakthrough Designation<\/a> to remove ticagrelor (Brilinta\u00ae; AstraZeneca) during urgent or emergent cardiothoracic surgery, and to implement our clinical and regulatory strategy to gain U.S. approval.\u00a0 We believe this is the most expeditious, lowest risk, and least burdensome path to U.S. regulatory approval that leverages our extensive cardiac surgery experience, good clinical outcomes, and regulatory approvals in <span class=\"xn-location\">Europe<\/span> in this application, from which we can then build our critical care and cardiac surgery franchises in the future. \u00a0Following productive prior discussions with the FDA, we expect to imminently file an investigational device exemption (IDE) application to conduct a well-designed and powered clinical trial in the U.S. to demonstrate the clinical benefit of our therapy.\u00a0 This STAR-T Trial (<b>S<\/b>afe and <b>T<\/b>imely <b>A<\/b>ntithrombotic <b>R<\/b>emoval of <b>T<\/b>icagrelor) will be led by two world-renowned Principal Co-investigators, with support from a distinguished Executive Committee.\u00a0 We have already screened and obtained the commitment from the majority of needed U.S. centers to participate in the study.\u00a0\u00a0 In addition, the trial has been designed to obtain the clinical and health economics data needed to support a U.S. regulatory filing for this application, and also reimbursement.\u00a0 As previously noted, the Centers for Medicare &amp; Medicaid Services announced the <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=796107229&amp;u=https%3A%2F%2Fwww.cms.gov%2Fnewsroom%2Ffact-sheets%2Fmedicare-coverage-innovative-technology-cms-3372-f&amp;a=Medicare+Coverage+of+Innovative+Technology\" rel=\"nofollow noopener noreferrer\">Medicare Coverage of Innovative Technology<\/a>\u00a0pathway that will provide national Medicare coverage for approved Breakthrough Medical Devices for 4 years.\u00a0 We plan to work closely with the FDA to expedite the review and approval of the IDE, and will have more detail on the final trial design at that time.&#8221;<\/p>\n<p>&#8220;Meanwhile, we are forging ahead with our efforts to open the U.S. market to our therapy for the removal of the direct oral anticoagulants (DOACs) in emergent or urgent cardiothoracic surgery.\u00a0 These include blockbuster anticoagulant medications such as the Factor Xa inhibitors &#8211; Eliquis\u00ae (apixaban; Pfizer, Bristol Myers Squibb), Xarelto\u00ae (rivaroxaban; Janssen, Bayer), and Lixiana\u00ae and Savaysa\u00ae (edoxaban; Daiichi Sankyo, Daewoong Pharmaceutical), as well as the direct thrombin inhibitors such as Pradaxa (dabigatran; Boehringer Ingelheim).\u00a0 As with ticagrelor, these blood thinners are also often associated with severe to life-threatening perioperative bleeding after cardiothoracic surgery.\u00a0 We anticipate that the clinical and regulatory pathway will be similar to that for ticagrelor.\u00a0 Our technology has shown the ability to remove all of these agents <i>in vitro<\/i>, and in the case of rivaroxaban and apixaban, in humans during cardiac surgery.\u00a0 This application would target an additional total addressable market in the U.S. alone of approximately <span class=\"xn-money\">$500M<\/span>.&#8221;<\/p>\n<p>&#8220;In addition to the above, the company-sponsored CyTation trial in <span class=\"xn-location\">Germany<\/span> for ticagrelor removal is open for enrollment, though the U.K. TISORB study has been impacted by COVID-19 restrictions in that country.\u00a0 We have also developed the STAR registry, that will collect real world data on the removal of antithrombotics with our blood purification technology.&#8221;<\/p>\n<p>&#8220;We are currently prioritizing the STAR-T trial.\u00a0 However, we plan to resume the U.S. REFRESH 2-AKI trial as soon as possible, pending COVID-19 restrictions.\u00a0 In addition to the studies above, we plan to initiate multiple other company-sponsored studies this year, including the multi-center, randomized, controlled PROCYSS (<b><u>P<\/u><\/b>rospective, <b><u>R<\/u><\/b>andomized, C<b><u>O<\/u><\/b>ntrolled Trial To Evaluate <b><u>CY<\/u><\/b>toSorb For Shock Reversal in <b><u>S<\/u><\/b>eptic <b><u>S<\/u><\/b>hock) trial in refractory septic shock in <span class=\"xn-location\">Germany<\/span> anticipated to start in the third quarter, and the HepOnFire single arm pilot study in liver disease expected to start in the fourth quarter.\u00a0 The results of the REMOVE endocarditis study are expected soon.\u00a0 Finally, we plan to submit a publication on the results from ECMO and CytoSorb from the multi-center U.S. CTC registry and a review article summarizing the international experience in COVID-19 patients treated with CytoSorb and CRRT or hemoperfusion.&#8221;<\/p>\n<p>&#8220;For further updates on our existing business, we invite you to join us on our earnings conference call, details below.&#8221;<\/p>\n<p>\n        <b><br \/>\n          <i>Conference Call Details:<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Date: <span class=\"xn-chron\">Tuesday March 9, 2021<\/span><br \/>Time: <span class=\"xn-chron\">4:45 PM Eastern Time<\/span><br \/>Participant Dial-In: \u00a0 1-201-389-0879<br \/>Conference ID:\u00a0 13716351<br \/>Live Presentation Webcast\u00a0 \u00a0\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=4053177026&amp;u=http%3A%2F%2Fpublic.viavid.com%2Findex.php%3Fid%3D143499&amp;a=http%3A%2F%2Fpublic.viavid.com%2Findex.php%3Fid%3D143499\" rel=\"nofollow noopener noreferrer\">http:\/\/public.viavid.com\/index.php?id=143499<\/a><\/p>\n<p>It is recommended that participants dial in approximately 10 minutes prior to the start of the call.\u00a0 There will also be a simultaneous live webcast of the conference call that can be accessed through the following audio feed link:\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=4053177026&amp;u=http%3A%2F%2Fpublic.viavid.com%2Findex.php%3Fid%3D143499&amp;a=http%3A%2F%2Fpublic.viavid.com%2Findex.php%3Fid%3D143499\" rel=\"nofollow noopener noreferrer\">http:\/\/public.viavid.com\/index.php?id=143499<\/a><\/p>\n<p>An archived recording and written transcript of the conference call will be available under the Investor Relations section of the Company&#8217;s website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=4118985128&amp;u=http%3A%2F%2Fcytosorbents.com%2Finvestor-relations%2Ffinancial-results%2F&amp;a=http%3A%2F%2Fcytosorbents.com%2Finvestor-relations%2Ffinancial-results%2F\" rel=\"nofollow noopener noreferrer\">http:\/\/cytosorbents.com\/investor-relations\/financial-results\/<\/a><\/p>\n<p>\n        <b>Fiscal Year 2020 Financial Results:<\/b>\n      <\/p>\n<p>\n        <b><br \/>\n          <i>Revenues:<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>For the year ended <span class=\"xn-chron\">December 31, 2020<\/span>, we generated total revenue, which includes product revenue and grant income, of approximately <span class=\"xn-money\">$41,005,000<\/span> as compared to revenues of approximately <span class=\"xn-money\">$24,949,000<\/span> for the year ended <span class=\"xn-chron\">December 31, 2019<\/span>, an increase of approximately <span class=\"xn-money\">$16,056,000<\/span>, or 64%. Revenue from product sales was approximately <span class=\"xn-money\">$39,453,000<\/span> for the year ended <span class=\"xn-chron\">December 31, 2020<\/span>, as compared to approximately <span class=\"xn-money\">$22,766,000<\/span> in the year ended <span class=\"xn-chron\">December 31, 2019<\/span>, an increase of approximately <span class=\"xn-money\">$16,787,000<\/span> or 73%. This increase was driven by an increase in direct sales of approximately <span class=\"xn-money\">$8,917,000<\/span> resulting from sales to both new customers and repeat orders from existing customers and an increase in distributor sales of approximately <span class=\"xn-money\">$7,769,000<\/span>. Sales to hospitals in <span class=\"xn-location\">the United States<\/span> under the EUA granted by the FDA amounted to approximately <span class=\"xn-money\">$1,341,000<\/span> for the year ended <span class=\"xn-chron\">December 31<\/span>, 2020.\u00a0 Though difficult to quantitate, we estimate that approximately <span class=\"xn-money\">$9.4 million<\/span> of total product sales during the year ended <span class=\"xn-chron\">December 31, 2020<\/span> was due to the demand for CytoSorb to treat COVID-19 patients.\u00a0 In addition, as a result of the increase in the average exchange rate of the Euro to the U.S. dollar, sales were positively impacted by approximately <span class=\"xn-money\">$693,000<\/span>.\u00a0 For the year ended <span class=\"xn-chron\">December 31, 2020<\/span>, the average exchange rate of the Euro to the U.S. dollar was <span class=\"xn-money\">$1.14<\/span> as compared to an average exchange rate of <span class=\"xn-money\">$1.12<\/span> for the year ended <span class=\"xn-chron\">December 31<\/span>, 2019.\u00a0 <\/p>\n<p>\n        <b><br \/>\n          <i>Cost of Revenue:<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>For the years ended <span class=\"xn-chron\">December 31, 2020<\/span> and 2019, cost of revenue was approximately <span class=\"xn-money\">$11,052,000<\/span> and <span class=\"xn-money\">$7,364,000<\/span>, respectively, an increase of approximately <span class=\"xn-money\">$3,688,000<\/span>. Product cost of revenues increased approximately <span class=\"xn-money\">$4,180,000<\/span> during the year ended <span class=\"xn-chron\">December 31, 2020<\/span> as compared to the year ended <span class=\"xn-chron\">December 31, 2019<\/span> as a result of the increase in product sales.\u00a0 Product gross margins were approximately 76% for the year ended <span class=\"xn-chron\">December 31, 2020<\/span> and approximately 77% for the year ended <span class=\"xn-chron\">December 31, 2019<\/span>. The decrease in gross margin was due to an increase in percent contribution of lower margin distributor sales as well as certain costs associated with the rapid ramp-up of production during the year\u00a0ended <span class=\"xn-chron\">December 31, 2020<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Gross Profit:<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Gross profit was approximately <span class=\"xn-money\">$29,952,000<\/span> for the year ended <span class=\"xn-chron\">December 31, 2020<\/span>, an increase of approximately <span class=\"xn-money\">$12,366,000<\/span> or 70%, over gross profit of <span class=\"xn-money\">$17,586,000<\/span> in 2019. This increase is attributed to an increase in CytoSorb product sales during 2020. <\/p>\n<p>\n        <b><br \/>\n          <i>Research and Development Expenses:<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Our research and development costs were approximately <span class=\"xn-money\">$8,811,000<\/span> and <span class=\"xn-money\">$12,092,000<\/span> for the years ended <span class=\"xn-chron\">December 31, 2020<\/span> and 2019, respectively, a decrease of approximately <span class=\"xn-money\">$3,281,000<\/span>, or 27%. This decrease was due to a decrease in clinical trial and related costs of approximately <span class=\"xn-money\">$3,769,000<\/span>, due primarily to the pause in our Company-sponsored clinical trials as a result of hospital restrictions due to the COVID-19 pandemic,\u00a0and a decrease in our non-grant related research and development costs of approximately <span class=\"xn-money\">$393,000<\/span>.\u00a0 These decreases were offset by an increase in non-clinical research and development salary related costs of approximately <span class=\"xn-money\">$160,000<\/span> due primarily to COVID-19 related incentive pay, decreases in direct labor and other costs being deployed toward grant-funded activities of approximately <span class=\"xn-money\">$675,000<\/span>, which had the effect of increasing the amount of our non-reimbursable research and development costs and an increase in new product development costs of approximately <span class=\"xn-money\">$46,000<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Legal, Financial and Other Consulting Expenses:<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Our legal, financial and other consulting costs were approximately <span class=\"xn-money\">$3,048,000<\/span> and <span class=\"xn-money\">$2,462,000<\/span> for the years ended <span class=\"xn-chron\">December 31, 2020<\/span> and 2019, respectively, an increase of approximately <span class=\"xn-money\">$586,000<\/span>, or 24%.\u00a0This increase was due to an increase in employment agency fees of approximately <span class=\"xn-money\">$395,000<\/span> related to the hiring of senior level personnel, an increase in consulting fees of approximately <span class=\"xn-money\">$219,000<\/span> primarily related to certain financial advisory fees and an increase in accounting and auditing fees of approximately <span class=\"xn-money\">$40,000<\/span>.\u00a0 These increases were offset by a decrease in legal fees of approximately <span class=\"xn-money\">$70,000<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Selling, General and Administrative Expenses:<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Our selling, general and administrative expenses were approximately <span class=\"xn-money\">$28,464,000<\/span> and <span class=\"xn-money\">$22,006,000<\/span> for the years ended <span class=\"xn-chron\">December 31, 2020<\/span> and 2019, respectively, an increase of approximately <span class=\"xn-money\">$6,458,000<\/span>, or 29%. This increase was due to an increase in salaries, commissions and related costs of approximately <span class=\"xn-money\">$4,849,000<\/span> due primarily to headcount additions and increased commissions due to increase sales, an increase in royalty expenses of approximately <span class=\"xn-money\">$1,327,000<\/span> due to the increase in product sales, and an increase in non-cash stock option expense of approximately <span class=\"xn-money\">$1,879,000<\/span>.\u00a0 These increases were offset by reductions in sales and marketing costs, which include advertising and conference attendance of approximately <span class=\"xn-money\">$824,000<\/span> and travel and entertainment and other general and administrative expenses of approximately <span class=\"xn-money\">$773,000<\/span>.\u00a0 These reductions were due primarily to travel restrictions related to the COVID-19 pandemic.<\/p>\n<p>\n        <b><br \/>\n          <i>Interest Expense, Net:<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>For the year ended <span class=\"xn-chron\">December 31, 2020<\/span>, interest expense, net was approximately <span class=\"xn-money\">$1,201,000<\/span>, as compared to interest expense, net of approximately <span class=\"xn-money\">$1,034,000<\/span> for the year ended <span class=\"xn-chron\">December 31, 2019<\/span>. This increase in net interest expense of approximately <span class=\"xn-money\">$167,000<\/span> is related to the final fee that was due upon repayment of our term loans in conjunction with the Third Amendment to the Amended Loan and Security Agreement with Bridge Bank that closed on <span class=\"xn-chron\">December 4, 2020<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Gain (Loss) on Foreign Currency Transactions:<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>For the year ended <span class=\"xn-chron\">December 31, 2020<\/span>, the gain on foreign currency transactions was approximately <span class=\"xn-money\">$2,607,000<\/span>, as compared to a loss on foreign currency transactions of approximately <span class=\"xn-money\">$350,000<\/span> for the year ended <span class=\"xn-chron\">December 31, 2019<\/span>. The 2020 gain is directly related to the increase of the exchange rate of the Euro at <span class=\"xn-chron\">December 31, 2020<\/span> as compared to <span class=\"xn-chron\">December 31, 2019<\/span>. The exchange rate of the Euro to the U.S. dollar was <span class=\"xn-money\">$1.22<\/span> per Euro at <span class=\"xn-chron\">December 31, 2020<\/span> as compared to <span class=\"xn-money\">$1.12<\/span> per Euro at <span class=\"xn-chron\">December 31, 2019<\/span>. The 2019 loss is directly related to the decrease in the exchange rate of the Euro at <span class=\"xn-chron\">December 31, 2019<\/span>, as compared to <span class=\"xn-chron\">December 31, 2018<\/span>. The exchange rate of the Euro to the U.S. dollar was <span class=\"xn-money\">$1.12<\/span> per Euro at <span class=\"xn-chron\">December 31, 2019<\/span> as compared to <span class=\"xn-money\">$1.15<\/span> per Euro at <span class=\"xn-chron\">December 31, 2018<\/span>. <\/p>\n<p>\n        <b><br \/>\n          <i>Benefit from Income Taxes:<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Our benefit from income taxes was approximately <span class=\"xn-money\">$1,127,000<\/span> and <span class=\"xn-money\">$1,092,000<\/span> for the years ended <span class=\"xn-chron\">December 31, 2020<\/span> and 2019, respectively. These benefits were realized by utilizing the New Jersey Technology Business Tax Certificate Transfer Program whereby the <span class=\"xn-location\">State of New Jersey<\/span> allows us to sell a portion of our state net operating losses to a third party.<\/p>\n<p>\n        <b>Liquidity and Capital Resources<\/b>\n      <\/p>\n<p>Since inception, our operations have been primarily financed through the private and public placement of our debt and equity securities. At <span class=\"xn-chron\">December 31, 2020<\/span>, we had current assets of approximately <span class=\"xn-money\">$82,453,000<\/span> including cash on hand of approximately <span class=\"xn-money\">$71,422,000<\/span> and had current liabilities of approximately <span class=\"xn-money\">$10,153,000<\/span>. During the period from <span class=\"xn-chron\">January 1, 2020<\/span> through <span class=\"xn-chron\">July 15, 2020<\/span>, we raised approximately <span class=\"xn-money\">$26,427,000<\/span> by utilizing our ATM facility with co-agents Jefferies LLC and B. Riley FBR.\u00a0 In addition,\u00a0we received net proceeds of approximately <span class=\"xn-money\">$53,800,000<\/span> from our underwritten public offering that closed on <span class=\"xn-chron\">July 24, 2020<\/span>. \u00a0Also, we expect to receive approximately <span class=\"xn-money\">$1,127,000<\/span> in cash from the approved sale of our net operating losses and research and development credits from the <span class=\"xn-location\">State of New Jersey<\/span> in the first quarter of 2021.\u00a0<\/p>\n<p>We believe that we have sufficient cash to fund our operations and clinical trial activities well into the future.<\/p>\n<p>\n        <b>2020 First Quarter Revenue Guidance<\/b>\n      <\/p>\n<p>CytoSorbents has not historically given specific financial guidance on quarterly results until the quarter has been completed. \u00a0However, we expect our first quarter 2021 product sales will exceed product sales reported in the first quarter of 2020.\u00a0 \u00a0<\/p>\n<p>For additional information, please see the Company&#8217;s Annual Report on Form 10-K for the year ended <span class=\"xn-chron\">December 31, 2020<\/span> filed on <span class=\"xn-chron\">March 9, 2021<\/span> on <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=383935738&amp;u=http%3A%2F%2Fwww.sec.gov%2F&amp;a=http%3A%2F%2Fwww.sec.gov\" rel=\"nofollow noopener noreferrer\">http:\/\/www.sec.gov<\/a>. <\/p>\n<p>\n        <b>About CytoSorbents Corporation (NASDAQ: <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=1742328640&amp;u=https%3A%2F%2Fwww.nasdaq.com%2Fmarket-activity%2Fstocks%2Fctso&amp;a=CTSO\" rel=\"nofollow noopener noreferrer\">CTSO<\/a>) <\/b>\n      <\/p>\n<p>\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=4124378079&amp;u=https%3A%2F%2Fcytosorbents.com%2F&amp;a=CytoSorbents+Corporation\" rel=\"nofollow noopener noreferrer\">CytoSorbents Corporation<\/a>\u00a0is a leader in critical care immunotherapy, specializing in blood purification. Its flagship product, <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=778100164&amp;u=http%3A%2F%2Fwww.cytosorb.com%2F&amp;a=CytoSorb%C2%AE\" rel=\"nofollow noopener noreferrer\">CytoSorb\u00ae<\/a>\u00a0is approved in the European Union with distribution in 67 countries around the world, as an extracorporeal cytokine adsorber designed to reduce the &#8220;cytokine storm&#8221; or &#8220;cytokine release syndrome&#8221; that could otherwise cause massive inflammation, organ failure and death in common critical illnesses. These are conditions where the risk of death is extremely high, yet no effective treatments exist.\u00a0 <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=778100164&amp;u=http%3A%2F%2Fwww.cytosorb.com%2F&amp;a=CytoSorb%C2%AE\" rel=\"nofollow noopener noreferrer\">CytoSorb\u00ae<\/a>\u00a0is also being used during and after cardiac surgery to remove inflammatory mediators that can lead to post-operative complications, including multiple organ failure. CytoSorb\u00ae has been used in more than 121,000 human treatments to date.\u00a0 CytoSorb has received CE-Mark label expansions for the removal of bilirubin (liver disease), myoglobin (trauma), and both <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=1966548248&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorb-is-approved-and-available-for-the-removal-of-ticagrelor-a-leading-anti-platelet-drug-during-cardiopulmonary-bypass-in-the-eu-300995215.html&amp;a=ticagrelor\" rel=\"nofollow noopener noreferrer\">ticagrelor<\/a>\u00a0and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=1203091139&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorb-is-eu-approved-to-remove-rivaroxaban-a-leading-factor-xa-inhibitor-and-novel-oral-anticoagulant-during-on-pump-cardiothoracic-surgery-301057276.html&amp;a=rivaroxaban\" rel=\"nofollow noopener noreferrer\">rivaroxaban<\/a>\u00a0during cardiothoracic surgery.\u00a0 CytoSorb has also received <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=262747960&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fus-fda-grants-cytosorb-emergency-use-authorization-for-use-in-patients-with-covid-19-infection-301039293.html&amp;a=FDA+Emergency+Use+Authorization\" rel=\"nofollow noopener noreferrer\">FDA Emergency Use Authorization<\/a>\u00a0in <span class=\"xn-location\">the United States<\/span> for use in critically ill COVID-19 patients with imminent or confirmed respiratory failure, in defined circumstances.\u00a0 CytoSorb has also been granted <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=614578802&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fdevelopment-update-us-fda-grants-breakthrough-designation-to-cytosorb-for-removal-of-ticagrelor-during-cardiopulmonary-bypass-in-emergent-and-urgent-cardiothoracic-surgery-301043326.html&amp;a=FDA+Breakthrough+Designation\" rel=\"nofollow noopener noreferrer\">FDA Breakthrough Designation<\/a>\u00a0for the removal of ticagrelor in a cardiopulmonary bypass circuit during emergent and urgent cardiothoracic surgery.<\/p>\n<p>CytoSorbents&#8217; purification technologies are based on biocompatible, highly porous polymer beads that can actively remove toxic substances from blood and other bodily fluids by pore capture and surface adsorption. Its technologies have received non-dilutive grant, contract, and other funding of more than <span class=\"xn-money\">$38 million<\/span> from DARPA, the U.S. Department of Health and Human Services (HHS), the National Institutes of Health (NIH), National Heart, Lung, and Blood Institute (NHLBI), the U.S. Army, the U.S. Air Force, U.S. Special Operations Command (SOCOM), Air Force Material Command (USAF\/AFMC), and others. The Company has numerous products under development based upon this unique blood purification technology protected by many issued U.S. and international patents and multiple applications pending, including ECOS-300CY\u2122, CytoSorb-XL\u2122, HemoDefend-RBC\u2122, HemoDefend-BGA\u2122, VetResQ\u2122, K<sup>+<\/sup>ontrol\u2122, DrugSorb\u2122, ContrastSorb, and others.\u00a0 \u00a0\u00a0For more information, please visit the Company&#8217;s websites at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=2985363071&amp;u=https%3A%2F%2Fcytosorbents.com%2F&amp;a=www.cytosorbents.com\" rel=\"nofollow noopener noreferrer\">www.cytosorbents.com<\/a>\u00a0and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=3248846672&amp;u=http%3A%2F%2Fwww.cytosorb.com%2F&amp;a=www.cytosorb.com\" rel=\"nofollow noopener noreferrer\">www.cytosorb.com<\/a>\u00a0or follow us on <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=795725360&amp;u=https%3A%2F%2Fwww.facebook.com%2Fcytosorbents&amp;a=Facebook\" rel=\"nofollow noopener noreferrer\">Facebook<\/a>\u00a0and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=3399199933&amp;u=https%3A%2F%2Ftwitter.com%2FCytoSorbents&amp;a=Twitter\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>.<\/p>\n<p>\n        <b>Forward-Looking Statements<\/b>\n      <\/p>\n<p>This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, representations and contentions and are not historical facts and typically are identified by use of terms such as &#8220;may,&#8221; &#8220;should,&#8221; &#8220;could,&#8221; &#8220;expect,&#8221; &#8220;plan,&#8221; &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;predict,&#8221; &#8220;potential,&#8221; &#8220;continue&#8221; and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements in this press release represent management&#8217;s current judgment and expectations, but our actual results, events and performance could differ materially from those in the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, the risks discussed in our Annual Report on Form 10-K, filed with the SEC on <span class=\"xn-chron\">March 9, 2021<\/span>, as updated by the risks reported in our Quarterly Reports on Form 10-Q, and in the press releases and other communications to shareholders issued by us from time to time which attempt to advise interested parties of the risks and factors which may affect our business. We caution you not to place undue reliance upon any such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than as required under the Federal securities laws.<\/p>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td colspan=\"10\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">CYTOSORBENTS CORPORATION<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"10\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"10\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(amounts in thousands, except per share data)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"10\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"9\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Year ended December 31,<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2018<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenue:<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0 Product sales<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">39,453<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,766<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,252<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0 Grant income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,552<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,184<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,252<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0 Total revenue<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">41,005<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">24,950<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,504<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of revenue<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,053<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,364<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,489<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gross profit<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29,952<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,586<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15,015<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Expenses:<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0 Research and development<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,810<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,092<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,723<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0 Legal, financial and other consulting<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,048<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,462<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,002<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0 Selling, general and administrative<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">28,464<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,006<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,874<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0 Total operating expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">40,322<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">36,560<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">30,599<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss from operations<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(10,370)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(18,974)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(15,584)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other income(expense), net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,406<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,384)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,247)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss before benefit from income taxes<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(8,964)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(20,358)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(17,831)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Benefit from income taxes<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,127<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,092<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">620<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss available to common shareholders<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,837)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(19,266)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prnsbts prnsbr1 prnvab prnsbbd prntar prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(17,211)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Earnings per share:<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 Basic and diluted loss per share<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.20)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.60)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.56)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 Weighted average shares outstanding<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,818,990<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">32,255,253<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">30,719,176<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td colspan=\"7\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">CYTOSORBENTS CORPORATION<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">CONDENSED CONSOLIDATED BALANCE SHEETS<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(amounts in thousands)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31, 2020<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31, 2019<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">ASSETS:<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Current Assets:<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">71,422<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,233<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Grants and accounts receivable, net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,159<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,467<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Inventories<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,674<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,114<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Prepaid expenses and other current assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,198<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,088<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 Total current assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">82,453<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,902<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Property and\u00a0 equipment, net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,120<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,925<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Right of use asset<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,029<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,071<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,348<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,485<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 TOTAL ASSETS<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">89,950<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27,383<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">LIABILITIES AND STOCKHOLDERS&#8217; EQUITY:<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <i>Current Liabilities:<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accounts payable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,835<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,039<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accrued expenses and other current liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,871<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,802<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current maturities of long \u2013term debt, net of debt issuance costs<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8212;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,667<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Lease liability-current portion<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">447<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">428<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total current liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,153<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,936<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Lease liability, net of current portion<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">582<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">643<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Long-term debt, net of current maturities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8212;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,386<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 TOTAL LIABILITIES<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,735<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">23,965<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total stockholders&#8217; equity<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">79,21<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,418<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">TOTAL LIABILITIES AND STOCKHOLDERS&#8217; EQUITY<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">89,950<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27,383<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b><br \/>\n          <u>Please Click to Follow Us on <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=795725360&amp;u=https%3A%2F%2Fwww.facebook.com%2Fcytosorbents&amp;a=Facebook\" rel=\"nofollow noopener noreferrer\">Facebook<\/a> and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3091708-1&amp;h=3399199933&amp;u=https%3A%2F%2Ftwitter.com%2FCytoSorbents&amp;a=Twitter\" rel=\"nofollow noopener noreferrer\">Twitter<\/a><\/u><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b>Investor Relations Contact:<\/b><br \/>\n        <br \/>\n        <span class=\"xn-person\">Amy Vogel<\/span><br \/>\n        <br \/>Investor Relations<br \/>(732) 398-5394<br \/><u><a target=\"_blank\" href=\"mailto:avogel@cytosorbents.com\" rel=\"nofollow noopener noreferrer\">avogel@cytosorbents.com<\/a><\/u><\/p>\n<p>\n        <b>Public Relations Contact:<\/b><br \/>\n        <br \/>\n        <span class=\"xn-person\">Eric Kim<\/span><br \/>\n        <br \/>Rubenstein Public Relations<br \/>212-805-3052<br \/><a target=\"_blank\" href=\"mailto:ekim@rubensteinpr.com\" rel=\"nofollow noopener noreferrer\">ekim@rubensteinpr.com<\/a><\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=NY04200&amp;sd=2021-03-09\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/cytosorbents-announces-2020-financial-and-operational-results-301243881.html\">http:\/\/www.prnewswire.com\/news-releases\/cytosorbents-announces-2020-financial-and-operational-results-301243881.html<\/a><\/p>\n<p>SOURCE  CytoSorbents Corporation<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY04200&amp;Transmission_Id=202103091615PR_NEWS_USPR_____NY04200&amp;DateId=20210309\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>2020 Total Revenue was $41.0 million, with 2020 Product Sales of $39.5 million, up 73% over 2019. Achieved record Product Gross Margins of 82% for Q4 2020 PR Newswire MONMOUTH JUNCTION, N.J., March 9, 2021 \/PRNewswire\/ &#8212; CytoSorbents Corporation\u00a0(NASDAQ: CTSO), a critical care immunotherapy leader commercializing its CytoSorb\u00ae blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients around the world,\u00a0achieves record Total Revenue and CytoSorb\u00ae sales in 2020, and record Product Gross Margins in Q4 2020. CytoSorbents Reports Strong 2020 Growth with Record Total Revenue of $41M and Product Sales of $39.5M 2020 Financial Highlights: Full Year 2020 Results 2020 Total Revenue was approximately $41.0M compared to $24.9M in 2019 2020 Product Sales were approximately $39.5M &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-announces-2020-financial-and-operational-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;CytoSorbents Announces 2020 Financial and Operational Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-454210","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CytoSorbents Announces 2020 Financial and Operational Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-announces-2020-financial-and-operational-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CytoSorbents Announces 2020 Financial and Operational Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"2020 Total Revenue was $41.0 million, with 2020 Product Sales of $39.5 million, up 73% over 2019. Achieved record Product Gross Margins of 82% for Q4 2020 PR Newswire MONMOUTH JUNCTION, N.J., March 9, 2021 \/PRNewswire\/ &#8212; CytoSorbents Corporation\u00a0(NASDAQ: CTSO), a critical care immunotherapy leader commercializing its CytoSorb\u00ae blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients around the world,\u00a0achieves record Total Revenue and CytoSorb\u00ae sales in 2020, and record Product Gross Margins in Q4 2020. CytoSorbents Reports Strong 2020 Growth with Record Total Revenue of $41M and Product Sales of $39.5M 2020 Financial Highlights: Full Year 2020 Results 2020 Total Revenue was approximately $41.0M compared to $24.9M in 2019 2020 Product Sales were approximately $39.5M &hellip; Continue reading &quot;CytoSorbents Announces 2020 Financial and Operational Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-announces-2020-financial-and-operational-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-09T21:18:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1096384\/CytoSorbents_Working_To_Save_Lives_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"20 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cytosorbents-announces-2020-financial-and-operational-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cytosorbents-announces-2020-financial-and-operational-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"CytoSorbents Announces 2020 Financial and Operational Results\",\"datePublished\":\"2021-03-09T21:18:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cytosorbents-announces-2020-financial-and-operational-results\\\/\"},\"wordCount\":4022,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cytosorbents-announces-2020-financial-and-operational-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1096384\\\/CytoSorbents_Working_To_Save_Lives_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cytosorbents-announces-2020-financial-and-operational-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cytosorbents-announces-2020-financial-and-operational-results\\\/\",\"name\":\"CytoSorbents Announces 2020 Financial and Operational Results - 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Achieved record Product Gross Margins of 82% for Q4 2020 PR Newswire MONMOUTH JUNCTION, N.J., March 9, 2021 \/PRNewswire\/ &#8212; CytoSorbents Corporation\u00a0(NASDAQ: CTSO), a critical care immunotherapy leader commercializing its CytoSorb\u00ae blood purification technology to treat deadly inflammation in critically-ill and cardiac surgery patients around the world,\u00a0achieves record Total Revenue and CytoSorb\u00ae sales in 2020, and record Product Gross Margins in Q4 2020. 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