{"id":522541,"date":"2021-08-03T16:20:29","date_gmt":"2021-08-03T20:20:29","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-reports-second-quarter-2021-financial-and-operational-results\/"},"modified":"2021-08-03T16:20:29","modified_gmt":"2021-08-03T20:20:29","slug":"cytosorbents-reports-second-quarter-2021-financial-and-operational-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-reports-second-quarter-2021-financial-and-operational-results\/","title":{"rendered":"CytoSorbents Reports Second Quarter 2021 Financial and Operational Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Total revenue increased 23% to $12.0 million. Core non-COVID-19 product sales increased 38% Y-Y, driving overall Q2 2021 product sales to $11.4 million versus $9.5 million a year ago<\/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\">Aug. 3, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0<u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=1601876468&amp;u=http%3A%2F%2Fwww.cytosorbents.com%2F&amp;a=CytoSorbents+Corporation\" rel=\"nofollow noopener\">CytoSorbents Corporation<\/a><\/u>\u00a0(NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in intensive care and cardiac surgery using blood purification via its proprietary polymer adsorption technology,\u00a0reports financial and operating results for the quarter and six months ending <span class=\"xn-chron\">June 30, 2021<\/span>.<\/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\"><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=\"divReleaseHighlight7c4a\">38% growth in record core, non-COVID-19 product sales in Q2 2021 drove 23% growth in total quarterly revenue to <span class=\"xn-money\">$12<\/span>.0M\u00a0<\/div>\n<p>\n        <b><br \/>\n          <i>Second Quarter 2021 Financial Highlights<\/i><br \/>\n        <\/b>\n      <\/p>\n<p \/>\n<p \/>\n<p \/>\n<ul type=\"disc\">\n<li>Total revenue, including product sales and grant income, for Q2 2021 was <span class=\"xn-money\">$12.0 million<\/span>, up 23% compared to <span class=\"xn-money\">$9.8 million<\/span> in Q2 2020. <\/li>\n<li>Q2 2021 product sales increased 19% to <span class=\"xn-money\">$11.4 million<\/span> compared to Q2 2020 product sales of <span class=\"xn-money\">$9.5 million<\/span>. <\/li>\n<li>Core non-COVID-19 product sales for Q2 2021 were a record <span class=\"xn-money\">$9.7 million<\/span>, up 38% compared to approximately <span class=\"xn-money\">$7.0 million<\/span> in Q2 2020. <\/li>\n<li>Consolidated gross profit rose to <span class=\"xn-money\">$9.3 million<\/span> in Q2 2021, compared to <span class=\"xn-money\">$6.5 million<\/span> in Q2 2020. <\/li>\n<li>2Q 2021 product gross margins were approximately 82%, compared to 70% in 2Q 2020. <\/li>\n<li>As of <span class=\"xn-chron\">June 30, 2021<\/span>, trailing twelve months product sales rose 44% to <span class=\"xn-money\">$43.3 million<\/span> versus <span class=\"xn-money\">$30.0 million<\/span> for the same period ending <span class=\"xn-chron\">June 30, 2020<\/span>. <\/li>\n<li>The Company maintains a healthy cash balance of <span class=\"xn-money\">$65.6 million<\/span> as of <span class=\"xn-chron\">June 30, 2021<\/span>.<\/li>\n<\/ul>\n<p>\n        <b><br \/>\n          <i>Recent Operating Highlights<\/i><br \/>\n        <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>In July, CytoSorbents received <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=2703545267&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorbents-receives-full-fda-approval-of-investigational-device-exemption-ide-for-us-star-t-trial-on-ticagrelor-removal-during-cardiothoracic-surgery-301325788.html&amp;a=full+FDA+approval\" rel=\"nofollow noopener\">full FDA approval<\/a> for its IDE application to conduct the pivotal STAR-T (<b>S<\/b>afe and <b>T<\/b>imely <b>A<\/b>ntithrombotic <b>R<\/b>emoval \u2013 <b>T<\/b>icagrelor) double-blind, randomized, controlled trial in <span class=\"xn-location\">the United States<\/span> to support marketing approval of the DrugSorb-ATR\u2122 antithrombotic removal system for intraoperative ticagrelor removal during cardiothoracic surgery. <\/li>\n<li>More than 143,000 CytoSorb devices have been delivered to date, an increase of 43% percent compared to more than 100,000 treatments delivered as of Q2 2020, with an estimated 6,500 COVID-19 patients treated globally. <\/li>\n<li>CytoSorb was registered and became <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=1812885144&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorb-registered-and-commercially-available-in-singapore-301298393.html&amp;a=commercially+available+in+Singapore\" rel=\"nofollow noopener\">commercially available in <span class=\"xn-location\">Singapore<\/span><\/a> for all equivalent European Union approved indications, including the reduction of cytokines , the reduction of bilirubin in liver disease, the reduction of myoglobin in trauma, and the removal of ticagrelor and rivaroxaban during urgent or emergent cardiothoracic surgery. <\/li>\n<li>CytoSorbents appointed <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=802084295&amp;u=https%3A%2F%2Fcytosorbents.com%2Fcytosorbents-appoints-terri-anne-powers-irc-as-vice-president-of-investor-relations-and-corporate-communications%2F&amp;a=Terri+Anne+Powers%2C+MBA%2C+IRC\" rel=\"nofollow noopener\"><span class=\"xn-person\">Terri Anne Powers<\/span>, MBA, IRC<\/a> as Vice President, Investor Relations and Corporate Communications. <\/li>\n<li>The Company successfully completed its <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=787458441&amp;u=https%3A%2F%2Fwww.prnewswire.com%2Fnews-releases%2Fcytosorbents-completes-its-mission-100-000-international-fundraising-campaign-to-fight-the-spread-of-covid-19-for-global-humanitarian-organization-care-301344915.html%3Ftc%3Deml_cleartime&amp;a=MISSION+100%2C000\" rel=\"nofollow noopener\">MISSION 100,000<\/a> international fundraising <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=2256930108&amp;u=https%3A%2F%2Fcharity.cytosorb-therapy.com%2Fen%2Fhome%2F&amp;a=campaign\" rel=\"nofollow noopener\">campaign<\/a> to raise <span class=\"xn-money\">$100,000<\/span> for the global humanitarian organization CARE. Funds raised will be used to fight the spread of COVID-19 in the U.S. and abroad.<\/li>\n<\/ul>\n<p>\n        <b><br \/>\n          <i>Second Half and Full Year 2021 Product Revenue Guidance<\/i><br \/>\n        <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>We continue to expect strong growth in core, non-COVID-19 product sales for the remainder of the year, with at least 30% Y-Y growth in the second half of 2021, as well as at least 30% Y-Y growth in full year 2021 core, non-COVID-19 product sales. <\/li>\n<li>To be conservative, we expect COVID-19 product sales for the remainder of the year to be less than <span class=\"xn-money\">$1 million<\/span>. <\/li>\n<li>Overall, we expect second half 2021 product sales to exceed first half 2021 product sales.<\/li>\n<\/ul>\n<p>Dr. <span class=\"xn-person\">Phillip Chan<\/span>, Chief Executive Officer of CytoSorbents stated, &#8220;We continue to prioritize the U.S. STAR-T trial as we believe it provides the lowest risk, fastest, and most likely path to U.S. marketing approval.\u00a0 Following full FDA approval of our IDE application in July, we are ramping activities to begin enrollment, with the first patient enrollment expected this quarter and trial completion targeted next year.\u00a0 We believe the STAR-T pivotal trial is rigorously designed to generate the highest level of evidence and capture the full clinical and economic benefits of intraoperative ticagrelor removal with our DrugSorb-ATR system in patients undergoing cardiothoracic surgery.\u00a0 If obtained, FDA marketing approval of DrugSorb-ATR for this application would be the first step in a planned multi-phase growth strategy in the United States.\u00a0 We expect to leverage the STAR-T trial infrastructure and trial design in future studies to secure other antithrombotic drug removal indications during cardiothoracic surgery.\u00a0 Eventually, we plan to pursue the expanded use of DrugSorb-ATR as a pre-operative measure to reduce the risk of bleeding in patients on antithrombotic drugs undergoing any type of high-risk surgical procedure.\u00a0 Overall, we believe the results from these randomized, controlled trials, combined with real-world evidence from the STAR registry, will eventually support the use of our technology as the new global standard of care for the acute hospital management of patients on antithrombotic drugs.&#8221;<\/p>\n<p>Dr. Chan continued, &#8220;Turning to quarterly results, product sales in the second quarter of 2021 grew 19% to <span class=\"xn-money\">$11.4 million<\/span> compared to the prior year, aided by 38% growth in core non-COVID-19 product sales.\u00a0 These core sales reached a quarterly record of <span class=\"xn-money\">$9.7 million<\/span>, or 85% of total product sales.\u00a0 We estimate that COVID-19 related sales in the second quarter of 2021 were approximately <span class=\"xn-money\">$1.7 million<\/span>.\u00a0 We continue to see improved access of our direct sales force, distributors and partners to physicians and hospitals, though access is still significantly less than pre-pandemic levels.\u00a0 With the increase in global vaccinations, offset by the rise of new cases and hospitalizations driven by new COVID-19 variants, including the more contagious Delta variant, we are unable to predict what impact, if any, the COVID-19 pandemic may have on sales for the remainder of the year.\u00a0 Overall, we expect second half 2021 product sales to exceed first half 2021 product sales, with limited contribution from COVID-19 related sales in the second half of 2021.&#8221;<\/p>\n<p>&#8220;Our business remains healthy with strong sales growth and 82% product gross margins achieved in the second quarter of 2021.\u00a0 We have maintained a robust cash balance, with <span class=\"xn-money\">$65.6M<\/span> at <span class=\"xn-chron\">June 30, 2021<\/span>, providing us a long runway to support investments in operations and clinical studies worldwide to drive future growth.\u00a0 We also continue to expand our clinical team and other key talent to execute our strategy and believe we are well-positioned to grow in both the short- and long-term.&#8221;<\/p>\n<p>\n        <b>Clinical Studies Update<\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>In <span class=\"xn-chron\">July 2021<\/span>, the U.S. FDA fully approved the Company&#8217;s IDE application for the up to 120 patient, double-blind, randomized, controlled <b>U.S. STAR-T<\/b> pivotal trial to remove ticagrelor intraoperatively during cardiothoracic surgery with the DrugSorb-ATR antithrombotic removal system. We are working closely with our contract research organization (CRO) and are advancing operational activities rapidly, including the successful completion of the first Investigator Meeting and execution of site initiation visits. We expect to begin enrollment in the third quarter of 2021, have all study sites activated by end of the year, and complete the study in 2022. <\/li>\n<li>The U.S. <b>REFRESH 2-AKI<\/b> study continues to enroll at multiple clinical sites and based on our enrollment projections, notwithstanding potential COVID-19 related delays, we project the interim analysis milestone will be reached in 2022. <\/li>\n<li>The <b>CTC Registry<\/b>: Primary results on observed ICU mortality of COVID-19 patients with acute respiratory distress syndrome (ARDS) requiring extracorporeal membrane oxygenation (ECMO) and treated with CytoSorb according to FDA Emergency Use Authorization criteria, have been accepted for presentation at the International Symposium of Intensive Care Medicine conference at the end of <span class=\"xn-chron\">August 2021<\/span> in <span class=\"xn-location\">Brussels, Belgium<\/span>, and have also been submitted for journal publication. <\/li>\n<li>The <b>CYTATION<\/b> trial in patients on ticagrelor undergoing emergent cardiothoracic surgery in <span class=\"xn-location\">Germany<\/span> has enrolled the first patients, but enrollment has been slower than expected due to the continuing impact of the COVID-19 pandemic. <\/li>\n<li>The <b>PROCYSS<\/b> randomized, controlled, multi-center trial in <span class=\"xn-location\">Germany<\/span> to evaluate the ability of CytoSorb to restore hemodynamic stability in patients with refractory septic shock recently received Ethics Committee approval, and notwithstanding any COVID-19 associated delays, is expected to begin enrollment this year. <\/li>\n<li>The <b>Hep-On-Fire<\/b> single-arm, multi-center trial in <span class=\"xn-location\">Germany<\/span> in patients suffering from acute liver failure due to alcoholic hepatitis is also scheduled to start later this year, pending any COVID-19 related delays. <\/li>\n<li>The <b>S<\/b>afe and <b>T<\/b>imely <b>A<\/b>ntithrombotic <b>R<\/b>emoval <b>(STAR) Registry<\/b> was designed to generate real world evidence on the antithrombotic removal application and will be ready to receive data entry from <span class=\"xn-location\">Germany<\/span> and the U.K. this quarter, with plans to gradually expand to additional E.U. countries. Initial data release is planned for 2022. <\/li>\n<li>Finally, we expect the results of the German government-sponsored and investigator-initiated <b>REMOVE<\/b> endocarditis study to be reported before the end of the year.<\/li>\n<\/ul>\n<p>\n        <b>R&amp;D Update<\/b>\n      <\/p>\n<p>Our research and development efforts are gaining momentum despite the disruption brought on by the COVID-19 pandemic.\u00a0 Since the start of the year, internal and government grant funding have supported the expansion of our R&amp;D staff by approximately 30%, and we expect to increase headcount further by the end of the year to support work associated with awarded grants and contracts. The revenue remaining to be earned on open grant contracts is <span class=\"xn-money\">$12.1 million<\/span>.\u00a0 To facilitate this growth, we have relocated half the team to the new facility in <span class=\"xn-location\">Princeton, New Jersey<\/span> where we were able to occupy existing labs with minimal disruption to program timelines.\u00a0 Overall, grant funded programs, HemoDefend-BGA\u2122 (Universal Plasma), HemoDefend-RBC\u2122 and K<sup>+<\/sup>ontrol\u2122, continue to progress and have been the beneficiary of <span class=\"xn-money\">~$9.6 million<\/span>, <span class=\"xn-money\">$4.7 million<\/span> and <span class=\"xn-money\">$7.0 million<\/span> in total funding, respectively, awarded to date.\u00a0 <\/p>\n<p>We are pleased to report acceleration of our HemoDefend-RBC\u2122 filter development, which is designed to remove non-infectious contaminants in transfused packed red blood cells that can cause transfusion reactions.\u00a0 We are currently producing devices for the required preclinical testing that is expected to start this quarter, to support an investigational device exemption (IDE) application to run a small (&lt;30 patient) human study to support FDA marketing approval.\u00a0 <\/p>\n<p>\n        <b>Results of Operations for the Quarter ended <span class=\"xn-chron\">June 30, 2021<\/span><\/b>\n      <\/p>\n<p>\n        <b><br \/>\n          <i><br \/>\n            <u>Comparison for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, and 2020<\/u><br \/>\n          <\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b><br \/>\n          <i>Revenues <br \/><\/i><br \/>\n        <\/b>Revenue from product sales was approximately <span class=\"xn-money\">$11,365,000<\/span> in the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, as compared to approximately <span class=\"xn-money\">$9,520,000<\/span> in the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>, an increase of approximately <span class=\"xn-money\">$1,845,000<\/span>, or 19%. This increase was driven by an increase in direct sales of approximately <span class=\"xn-money\">$1,492,000<\/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\">$353,000<\/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\">$362,000<\/span> for the three months ended <span class=\"xn-chron\">June 30<\/span>, 2021.\u00a0 Though difficult to quantitate, we estimate that approximately <span class=\"xn-money\">$1.7 million<\/span> of total product sales in the second quarter of 2021 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, 2021 product sales were positively impacted by approximately <span class=\"xn-money\">$819,000<\/span>.\u00a0 For the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, the average exchange rate of the Euro to the U.S. dollar was <span class=\"xn-money\">$1.21<\/span> as compared to an average exchange rate of <span class=\"xn-money\">$1.10<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>.<\/p>\n<p>Grant income was approximately <span class=\"xn-money\">$659,000<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span> as compared to approximately <span class=\"xn-money\">$275,000<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>, an increase of approximately <span class=\"xn-money\">$384,000<\/span>, or 140%.\u00a0 This increase was a result of the easing of the COVID-19 pandemic during the three months ended <span class=\"xn-chron\">June 30, 2021<\/span> and a corresponding increase in grant related work.\u00a0 During the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>, our research and development employees were either deployed to work-from-home status or reassigned to assist in activities related to increasing the production of CytoSorb.<\/p>\n<p>Total revenues were approximately <span class=\"xn-money\">$12,024,000<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, as compared to total revenues of approximately <span class=\"xn-money\">$9,795,000<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>, an increase of approximately <span class=\"xn-money\">$2,229,000<\/span>, or 23%.<\/p>\n<p>\n        <b><br \/>\n          <i>Cost of Revenues<br \/><\/i><br \/>\n        <\/b>For the three months ended <span class=\"xn-chron\">June 30, 2021<\/span> and 2020, cost of revenue was approximately <span class=\"xn-money\">$2,710,000<\/span> and <span class=\"xn-money\">$3,250,000<\/span>, respectively, a decrease of approximately <span class=\"xn-money\">$540,000<\/span>. Product cost of revenue was approximately <span class=\"xn-money\">$2,094,000<\/span> and <span class=\"xn-money\">$2,901,000<\/span>, respectively, for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span> and 2020, a decrease of approximately <span class=\"xn-money\">$807,000<\/span>.\u00a0 This decrease was due to certain costs associated with the rapid ramp-up of production during the three months ended <span class=\"xn-chron\">June 30, 2020<\/span> that did not recur during the three months ended <span class=\"xn-chron\">June 30<\/span>, 2021.\u00a0 Product gross margins were approximately 82% for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span> as compared to approximately 70% for the three months ended <span class=\"xn-chron\">June 30<\/span>, 2020.\u00a0 The increase in the gross margin percentage in 2021 was due manufacturing efficiencies achieved during the three months ended <span class=\"xn-chron\">June 30, 2021<\/span> and the impact of the ramp-up costs incurred during the three months ended <span class=\"xn-chron\">June 30, 2020<\/span> that did not recur in 2021.<\/p>\n<p>\n        <b><br \/>\n          <i>Research and Development Expenses<br \/><\/i><br \/>\n        <\/b>For the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, research and development expenses were approximately <span class=\"xn-money\">$3,699,000<\/span>, as compared to research and development expenses of approximately <span class=\"xn-money\">$2,406,000<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>, an increase of approximately <span class=\"xn-money\">$1,293,000<\/span>.\u00a0 This increase was due to an increase in our clinical trial activities of approximately <span class=\"xn-money\">$452,000<\/span> due to pre-enrollment activities related to our STAR-T trial in <span class=\"xn-location\">the United States<\/span>, an increase in salaries related to our clinical trial activities of approximately <span class=\"xn-money\">$506,000<\/span> due to the hiring of clinical expertise, an increase in rent expense of approximately <span class=\"xn-money\">$181,000<\/span> related to rent expense on our new facility and an increase in non-grant related research and development labor and other costs of approximately <span class=\"xn-money\">$154,000<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Legal, Financial and Other Consulting Expenses<br \/><\/i><br \/>\n        <\/b>Legal, financial and other consulting expenses were approximately <span class=\"xn-money\">$718,000<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, as compared to approximately <span class=\"xn-money\">$846,000<\/span> for the three months ended <span class=\"xn-chron\">June 30<\/span>, 2020.\u00a0 The decrease of approximately <span class=\"xn-money\">$128,000<\/span> was due to a decrease in legal fees of approximately <span class=\"xn-money\">$98,000<\/span>, a decrease in employment agency fees of approximately <span class=\"xn-money\">$46,000<\/span>, and a decrease in accounting and auditing fees of approximately <span class=\"xn-money\">$23,000<\/span>.\u00a0 The decreases were offset by an increase in consulting fees of approximately <span class=\"xn-money\">$39,000<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Selling, General and Administrative Expenses<br \/><\/i><br \/>\n        <\/b>Selling, general and administrative expenses were approximately <span class=\"xn-money\">$9,821,000<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, as compared to approximately <span class=\"xn-money\">$6,591,000<\/span> for the three months ending <span class=\"xn-chron\">June 30, 2020<\/span>, an increase of <span class=\"xn-money\">$3,231,000<\/span>.\u00a0 Approximately <span class=\"xn-money\">$1,396,000<\/span>, or 43%, of this increase was associated with non-cash related expenses including restricted stock expense of approximately <span class=\"xn-money\">$884<\/span>,000\u00a0related to restricted stock units granted to the Company&#8217;s executive officers and an increase in stock compensation expense of approximately <span class=\"xn-money\">$512,000<\/span>. The remaining increases in selling, general and administrative expense are related to an increase in salaries, commissions and related costs of approximately <span class=\"xn-money\">$1,127,000<\/span>, an increase in royalty expenses of approximately <span class=\"xn-money\">$156,000<\/span> due to the increase in product sales,\u00a0 an increase in commercial insurance of approximately <span class=\"xn-money\">$194,000<\/span> and an increase\u00a0in sales and marketing costs, which include advertising and conference attendance of approximately <span class=\"xn-money\">$229<\/span>,000\u00a0and an increase in other general and administrative expenses of approximately <span class=\"xn-money\">$129,000<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Interest Expense, net<br \/><\/i><br \/>\n        <\/b>For the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, net interest income was approximately <span class=\"xn-money\">$13,000<\/span>, as compared to net interest expense of approximately <span class=\"xn-money\">$274,000<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. This decrease in net interest expense was the result of the payoff of our outstanding term loans with Bridge Bank in December of 2020.<\/p>\n<p>\n        <b><br \/>\n          <i>Gain (Loss) on Foreign Currency Transactions<br \/><\/i><br \/>\n        <\/b>For the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>, the gain on foreign currency transactions was approximately <span class=\"xn-money\">$234,000<\/span> as compared to a gain of approximately <span class=\"xn-money\">$705,000<\/span> for the three months ended <span class=\"xn-chron\">June 30, 2020<\/span>. The 2021 gain was directly related to the increase in the spot exchange rate of the Euro to the U.S. dollar at <span class=\"xn-chron\">June 30, 2021<\/span> as compared to <span class=\"xn-chron\">March 31<\/span>, 2021.\u00a0 The spot exchange rate of the Euro to the U.S. dollar was <span class=\"xn-money\">$1.18<\/span> per Euro at <span class=\"xn-chron\">June 30, 2021<\/span>, as compared to <span class=\"xn-money\">$1.17<\/span> per Euro at <span class=\"xn-chron\">March 31<\/span>, 2021.\u00a0 The 2020 gain was directly related to the increase in the spot exchange rate of the Euro at <span class=\"xn-chron\">June 30, 2020<\/span> as compared to <span class=\"xn-chron\">March 31<\/span>, 2020.\u00a0 The spot 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\">June 30, 2020<\/span>, as compared to <span class=\"xn-money\">$1.10<\/span> per Euro at <span class=\"xn-chron\">March 31, 2020<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i><br \/>\n            <u>Comparison for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, and 2020<\/u><br \/>\n          <\/i><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b><br \/>\n          <i>Revenues <br \/><\/i><br \/>\n        <\/b>Revenue from product sales was approximately <span class=\"xn-money\">$21,509,000<\/span> in the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, as compared to approximately <span class=\"xn-money\">$17,676,000<\/span> in the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>, an increase of approximately <span class=\"xn-money\">$3,833,000<\/span>, or 22%. This increase was driven by an increase in direct sales of approximately <span class=\"xn-money\">$2,100,000<\/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\">$1,733,000<\/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\">$666,000<\/span> for the six months ended <span class=\"xn-chron\">June 30<\/span>, 2021.\u00a0 Though difficult to quantitate, we estimate that approximately <span class=\"xn-money\">$3.5 million<\/span> of total product sales in the six months ended <span class=\"xn-chron\">June 30, 2021<\/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, 2021 product sales were positively impacted by approximately <span class=\"xn-money\">$1,608,000<\/span>.\u00a0 For the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, the average exchange rate of the Euro to the U.S. dollar was <span class=\"xn-money\">$1.21<\/span> as compared to an average exchange rate of <span class=\"xn-money\">$1.10<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>.<\/p>\n<p>Grant income was approximately <span class=\"xn-money\">$1,114,000<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span> as compared to approximately <span class=\"xn-money\">$826,000<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>, an increase of approximately <span class=\"xn-money\">$288,000<\/span> or 35%.\u00a0 This increase was a result of the easing of the COVID-19 pandemic during the three months ended <span class=\"xn-chron\">June 30, 2021<\/span> and a corresponding increase in grant related work.\u00a0 During the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>, our research and development employees were either deployed to work-from-home status or reassigned to assist in activities related to increasing the production of CytoSorb.<\/p>\n<p>Total revenues were approximately <span class=\"xn-money\">$22,623,000<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, as compared to total revenues of approximately <span class=\"xn-money\">$18,502,000<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>, an increase of approximately <span class=\"xn-money\">$4,121,000<\/span>, or 22%.<\/p>\n<p>\n        <b><br \/>\n          <i>Cost of Revenues<br \/><\/i><br \/>\n        <\/b>For the six months ended <span class=\"xn-chron\">June 30, 2021<\/span> and 2020, cost of revenue was approximately <span class=\"xn-money\">$5,462,000<\/span> and <span class=\"xn-money\">$5,635,000<\/span>, respectively, a decrease of approximately <span class=\"xn-money\">$173,000<\/span>. Product cost of revenue was approximately <span class=\"xn-money\">$4,426,000<\/span> and <span class=\"xn-money\">$4,878,000<\/span>, respectively, for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span> and 2020, a decrease of approximately <span class=\"xn-money\">$452,000<\/span>.\u00a0 This decrease was related to certain costs associated with the rapid ramp-up of production of approximately <span class=\"xn-money\">$884,000<\/span> during the period ended <span class=\"xn-chron\">June 30, 2020<\/span> that did not recur during the period ended <span class=\"xn-chron\">June 30, 2021<\/span>. These decreases were offset by the negative impact of non-recurring costs related to prior years tariffs as a result of an audit by the German Customs Authorities of approximately <span class=\"xn-money\">$732,000<\/span> and the offsetting non-recurring positive impact of the Employee Retention Tax Credit of approximately <span class=\"xn-money\">$388,000<\/span>, both of which were recorded in the first quarter of 2021. Product gross margins were approximately 79% for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, and approximately 72% for the six months ended <span class=\"xn-chron\">June 30<\/span>, 2020.\u00a0 Excluding the impact of the non-recurring costs outlined above, product gross margins were approximately 81% for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Research and Development Expenses<br \/><\/i><br \/>\n        <\/b>For the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, research and development expenses were approximately <span class=\"xn-money\">$5,981,000<\/span> as compared to research and development expenses of approximately <span class=\"xn-money\">$4,371,000<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>, an increase of approximately <span class=\"xn-money\">$1,610,000<\/span>.\u00a0 This increase was due to an increase in costs associated with our clinical trial activities of approximately <span class=\"xn-money\">$839,000<\/span>, an increase in salaries related to our clinical trial activities of approximately <span class=\"xn-money\">$457,000<\/span> due to the hiring of clinical expertise, an increase in rent expense of approximately <span class=\"xn-money\">$181,000<\/span> related to rent expense on our new facility and an increase in non-grant related research and development labor and other costs of approximately <span class=\"xn-money\">$133,000<\/span>.\u00a0 <\/p>\n<p>\n        <b><br \/>\n          <i>Legal, Financial and Other Consulting Expenses<br \/><\/i><br \/>\n        <\/b>Legal, financial and other consulting expenses were approximately <span class=\"xn-money\">$1,426,000<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, as compared to approximately <span class=\"xn-money\">$1,365,000<\/span> for the six months ending <span class=\"xn-chron\">June 30<\/span>, 2020.\u00a0 The increase of approximately <span class=\"xn-money\">$61,000<\/span> was due to an increase in hiring fees of approximately <span class=\"xn-money\">$105,000<\/span> due to the hiring of certain senior level personnel and an increase in consulting fees of approximately <span class=\"xn-money\">$150,000<\/span> primarily related to certain financial advisory and information systems consulting fees.\u00a0 These increases were offset by decreases in legal fees of approximately <span class=\"xn-money\">$157,000<\/span> and accounting fees of approximately <span class=\"xn-money\">$37,000<\/span>.<\/p>\n<p>\n        <b><br \/>\n          <i>Selling, General and Administrative Expenses<br \/><\/i><br \/>\n        <\/b>Selling, general and administrative expenses were approximately <span class=\"xn-money\">$17,531,000<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, as compared to <span class=\"xn-money\">$12,908,000<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>, an increase of <span class=\"xn-money\">$4,623,000<\/span>.\u00a0\u00a0 This increase is related to an increase in salaries, commissions and related costs of approximately <span class=\"xn-money\">$2,699,000<\/span>, an increase in royalty expenses of approximately <span class=\"xn-money\">$312,000<\/span> due to the increase in product sales, and an increase in non-cash restricted stock expense of approximately <span class=\"xn-money\">$849<\/span>,000\u00a0related to restricted stock units granted to the Company&#8217;s executive officers, an increase in non-cash stock compensation expense of approximately <span class=\"xn-money\">$450,000<\/span>, an increase in commercial insurance of approximately <span class=\"xn-money\">$260,000<\/span> and an increase\u00a0in sales and marketing costs, which include advertising and conference attendance and other general and administrative expenses of approximately <span class=\"xn-money\">$243,000<\/span>.\u00a0 These increases were offset by a decrease in\u00a0travel and entertainment costs of approximately <span class=\"xn-money\">$190,000<\/span> due primarily to travel restrictions related to the COVID-19 pandemic.<\/p>\n<p>\n        <b><br \/>\n          <i>Interest Expense, net<br \/><\/i><br \/>\n        <\/b>For the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, interest income was approximately <span class=\"xn-money\">$3,000<\/span>, as compared to interest expense of approximately <span class=\"xn-money\">$579,000<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>. This decrease in net interest expense of approximately <span class=\"xn-money\">$582,000<\/span> was the result of the payoff of our outstanding term loans with Bridge Bank in December of 2020.<\/p>\n<p>\n        <b><br \/>\n          <i>Gain (Loss) on Foreign Currency Transactions<br \/><\/i><br \/>\n        <\/b>For the six months ended <span class=\"xn-chron\">June 30, 2021<\/span>, the loss on foreign currency transactions was approximately <span class=\"xn-money\">$1,071,000<\/span> as compared to a gain of approximately <span class=\"xn-money\">$36,000<\/span> for the six months ended <span class=\"xn-chron\">June 30, 2020<\/span>. The 2021 loss was directly related to the decrease in the spot exchange rate of the Euro to the U.S. dollar at <span class=\"xn-chron\">June 30, 2021<\/span> as compared to <span class=\"xn-chron\">December 31<\/span>, 2020.\u00a0 The spot exchange rate of the Euro to the U.S. dollar was <span class=\"xn-money\">$1.18<\/span> per Euro at <span class=\"xn-chron\">June 30, 2021<\/span>, as compared to <span class=\"xn-money\">$1.22<\/span> per Euro at <span class=\"xn-chron\">December 31<\/span>, 2020.\u00a0 The 2020 gain was directly related to the increase in the spot exchange rate of the Euro at <span class=\"xn-chron\">June 30, 2020<\/span> as compared to <span class=\"xn-chron\">December 31, 2019<\/span>. <\/p>\n<p>\n        <b>Liquidity and Capital Resources<br \/><\/b>Since inception, our operations have been primarily financed through the issuance of debt and equity securities. At <span class=\"xn-chron\">June 30, 2021<\/span>, we had current assets of approximately <span class=\"xn-money\">$77,085,000<\/span> including cash on hand of approximately <span class=\"xn-money\">$65,609,000<\/span> and current liabilities of approximately <span class=\"xn-money\">$10,796,000<\/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, we 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<\/span>, 2020.\u00a0 Also, we received 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> during the three months ended <span class=\"xn-chron\">June 30, 2021<\/span>.<\/p>\n<p>We believe that we have sufficient cash to fund our operations well into the future. <\/p>\n<p>\n        <b>Second Half and Full Year 2021 Product Revenue Guidance<br \/><\/b>We continue to see underlying strength in our core markets and therefore continue to expect strong growth of at least 30% Y-Y in core, non-COVID-19 product sales for the remainder of the year, as well as at least 30% Y-Y growth in full year 2021 core, non-COVID-19 product sales.\u00a0 Overall, we expect second half 2021 product sales to exceed first half 2021 product sales.<\/p>\n<p>We believe the COVID-19 pandemic has increased awareness and usage of CytoSorb as a treatment to reduce cytokine storm in many countries worldwide.\u00a0 However, the COVID-19 pandemic continues to add uncertainty to the sales outlook, especially since we are unable to predict the course of the pandemic.\u00a0 Vaccinations have increased globally, but new cases and hospitalizations are being driven by additional COVID-19 variants and we are unable to predict what impact, if any, the COVID-19 pandemic may have on sales for the remainder of the year.\u00a0 Given this uncertainty, and to be conservative, we expect product sales associated with COVID-19 treatments to be less than <span class=\"xn-money\">$1 million<\/span> in the second half of 2021, compared to approximately <span class=\"xn-money\">$3.5 million<\/span> in the first half of 2021.<\/p>\n<p>For additional information, please see the Company&#8217;s Form 10-Q for the period ended <span class=\"xn-chron\">June 30, 2021<\/span>, filed on <span class=\"xn-chron\">August 3, 2021<\/span> on <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=1882374727&amp;u=http%3A%2F%2Fwww.sec.gov%2F&amp;a=http%3A%2F%2Fwww.sec.gov\" rel=\"nofollow noopener\">http:\/\/www.sec.gov<\/a>.<\/p>\n<p>\n        <b>Conference Call<br \/><\/b>The company will conduct its second quarter operating and financial results call today at <span class=\"xn-chron\">4:30 p.m. Eastern time<\/span>.\u00a0 It will be archived for replay following the conference call.<\/p>\n<p>\n        <b><br \/>\n          <i>Conference Call Details:<br \/><\/i><br \/>\n        <\/b>Toll free:\u00a0 1-877-451-6152<br \/>International:\u00a01-201-389-0879<br \/>Conference ID:\u00a0 13721110<\/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:<b>\u00a0<\/b><b><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=2642759873&amp;u=http%3A%2F%2Fpublic.viavid.com%2Findex.php%3Fid%3D145516&amp;a=http%3A%2F%2Fpublic.viavid.com%2Findex.php%3Fid%3D145516\" rel=\"nofollow noopener\">http:\/\/public.viavid.com\/index.php?id=145516<\/a><\/b><\/p>\n<p>\n        <b>About CytoSorbents Corporation (NASDAQ: <\/b><br \/>\n        <b>CTSO<\/b><br \/>\n        <b>) <br \/><\/b><br \/>\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=2466620770&amp;u=https%3A%2F%2Fcytosorbents.com%2F&amp;a=CytoSorbents+Corporation\" rel=\"nofollow noopener\">CytoSorbents Corporation<\/a>\u00a0is a leader in the treatment of life-threatening conditions in intensive care and cardiac surgery using blood purification.\u00a0 Its flagship product, <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=3314766232&amp;u=https%3A%2F%2Fcytosorb-therapy.com%2F&amp;a=CytoSorb%C2%AE\" rel=\"nofollow noopener\">CytoSorb\u00ae<\/a> is approved in the European Union with distribution in 68 countries around the world, as an extracorporeal cytokine adsorber designed to reduce the &#8220;cytokine storm&#8221; or &#8220;cytokine release syndrome&#8221; seen in common critical illnesses that may result in massive inflammation, organ failure and patient death. \u00a0These are conditions where the risk of death can be extremely high, yet few to no effective treatments exist.\u00a0 CytoSorb is also being used during and after cardiothoracic surgery to remove inflammatory mediators that can lead to post-operative complications, including multiple organ failure.\u00a0 More than 143,000 CytoSorb devices have been delivered to date.\u00a0 CytoSorb was originally introduced into the European Union under CE-Mark as a first-in-kind cytokine adsorber.\u00a0 Additional CE-Mark label expansions were received for the removal of bilirubin and myoglobin in clinical conditions such as liver disease and trauma, respectively, and both <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=333939621&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\">ticagrelor<\/a> and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=560271486&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\">rivaroxaban<\/a> during cardiothoracic surgery.\u00a0CytoSorb has also received <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=1769574789&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\">FDA Emergency Use Authorization<\/a> in <span class=\"xn-location\">the United States<\/span> for use in critically ill COVID-19 patients with imminent or confirmed respiratory failure. \u00a0CytoSorbents&#8217; technology has also been granted <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=2949042041&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%C2%A0Breakthrough+Designation\" rel=\"nofollow noopener\">FDA\u00a0Breakthrough Designation<\/a> for the removal of ticagrelor in a cardiopulmonary bypass circuit during emergent and urgent cardiothoracic surgery, and if FDA clearance is obtained, would be marketed as DrugSorb-ATR\u2122 in <span class=\"xn-location\">the United States<\/span>.<\/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. \u00a0Its technologies have received non-dilutive grant, contract, and other funding of more than <span class=\"xn-money\">$39.5 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. \u00a0The Company has numerous marketed products and products under development based upon this unique blood purification technology protected by many issued U.S. and international patents and registered trademarks, and multiple patent applications pending, including ECOS-300CY\u00ae, CytoSorb-XL\u2122, HemoDefend-RBC\u2122, HemoDefend-BGA\u2122, VetResQ\u00ae, K<sup>+<\/sup>ontrol\u2122, DrugSorb\u2122, DrugSorb-ATR\u2122, ContrastSorb, and others.\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=3248070-1&amp;h=3609305282&amp;u=https%3A%2F%2Fcytosorbents.com%2F&amp;a=www.cytosorbents.com\" rel=\"nofollow noopener\">www.cytosorbents.com<\/a> and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=1001084853&amp;u=https%3A%2F%2Fcytosorb-therapy.com%2F&amp;a=www.cytosorb.com\" rel=\"nofollow noopener\">www.cytosorb.com<\/a> or follow us on <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=1237149837&amp;u=https%3A%2F%2Fwww.facebook.com%2Fcytosorbents&amp;a=Facebook\" rel=\"nofollow noopener\">Facebook<\/a> and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=2890598912&amp;u=https%3A%2F%2Ftwitter.com%2FCytoSorbents&amp;a=Twitter\" rel=\"nofollow noopener\">Twitter<\/a>.\u00a0<\/p>\n<p>\n        <b>Forward-Looking Statements<br \/><\/b>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. \u00a0These forward-looking statements include, but are not limited to, statements about our plans, objectives, anticipated future results and performance, 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. \u00a0You 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. \u00a0We caution you not to place undue reliance upon any such forward-looking statements. \u00a0We 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 class=\"prntal\">\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td colspan=\"17\" nowrap=\"nowrap\" 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=\"17\" nowrap=\"nowrap\" 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=\"17\" nowrap=\"nowrap\" 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=\"17\" nowrap=\"nowrap\" class=\"prngen3\">\n              \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 colspan=\"6\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Three months ended June 30,<\/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 colspan=\"6\" nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Six months ended June 30,<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \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 colspan=\"2\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2021<\/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 colspan=\"2\" nowrap=\"nowrap\" class=\"prngen4\">\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 colspan=\"2\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2021<\/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 colspan=\"2\" nowrap=\"nowrap\" class=\"prngen4\">\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<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(Unaudited)<\/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 colspan=\"2\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(Unaudited)<\/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 colspan=\"2\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(Unaudited)<\/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 colspan=\"2\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(Unaudited)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Revenue:<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a0\u00a0 CytoSorb sales<\/span>\n              <\/p>\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\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,360<\/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\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,451<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,504<\/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\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,607<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Other sales <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">69<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">69<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Total product sales\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,365<\/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=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,520<\/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=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,509<\/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=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,676<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Grant income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">659<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">275<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,114<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">826<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total revenue<\/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\">12,024<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,795<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,623<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">18,502<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cost of revenue<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,710<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,250<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,462<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,635<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gross profit<\/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\">9,314<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,545<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,161<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,867<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \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              \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              \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              \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              \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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other Expenses:<\/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              \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              \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              \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              \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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Research and development<\/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\">3,699<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,406<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,981<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,371<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Legal, financial and other consulting<\/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\">718<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">846<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,426<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,365<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Selling, general and administrative<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,822<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,591<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,531<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,908<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,239<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,843<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">24,938<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">18,644<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss from operations<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,925)<\/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=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,298)<\/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=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,777)<\/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=\"prngen8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5,777)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \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              \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              \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              \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              \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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other income\/(expense):<\/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              \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              \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              \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              \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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Interest income (expense), net<\/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\">13<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(274)<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(579)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Gain (loss) on foreign currency transactions<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">234<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">705<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,071)<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">36<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total other income (expense), net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">247<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">431<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,068)<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(543)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Loss before benefit from\u00a0income taxes<\/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=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,678)<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,867)<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(8,845)<\/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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,320)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Benefit from income taxes<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8212;<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8212;<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8212;<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8212;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml8\">\u00a0<\/p>\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Net loss<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,678)<\/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=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,867)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(8,845)<\/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=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,320)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \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              \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              \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              \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              \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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Basic and diluted net loss per common share<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\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\">(0.11)<\/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=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.08)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/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=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\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\">(0.18)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average number of shares of <br \/>common stock outstanding<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">43,317,578<\/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=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">36,483,355<\/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=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">43,280,266<\/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=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35,232,308<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \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              \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              \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              \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              \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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net loss<\/span>\n              <\/p>\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\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,678)<\/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\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2 ,867)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(8,845)<\/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\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,320)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \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              \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              \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              \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              \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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other comprehensive income (loss):<\/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              \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              \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              \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              \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              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">\u00a0Currency translation adjustment<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(264)<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(605)<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">893<\/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=\"prngen7\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Comprehensive loss<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,942)<\/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=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,472)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,952)<\/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=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,315)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\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\" nowrap=\"nowrap\" 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\" nowrap=\"nowrap\" 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\" nowrap=\"nowrap\" 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\" nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">June 30, 2021<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">December 31, 2020<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">ASSETS:<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\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=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">65,609<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">71,422<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\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=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,755<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,159<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Inventories<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,689<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,674<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\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=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,032<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,198<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\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=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">77,085<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">82,453<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\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=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,058<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,120<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Right of use asset<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,264<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,029<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,786<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,348<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\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=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">98,193<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">89,950<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\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=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\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=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accounts payable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,166<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,835<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Lease liability &#8211; current portion<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">252<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">447<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\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=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,378<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,871<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total current liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,796<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,153<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\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=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,012<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">582<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\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=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">23,808<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,735<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total stockholders&#8217; equity<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">74,385<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">79,215<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\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=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">98,193<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">89,950<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\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=3248070-1&amp;h=1237149837&amp;u=https%3A%2F%2Fwww.facebook.com%2Fcytosorbents&amp;a=Facebook\" rel=\"nofollow noopener\">Facebook<\/a> and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3248070-1&amp;h=2890598912&amp;u=https%3A%2F%2Ftwitter.com%2FCytoSorbents&amp;a=Twitter\" rel=\"nofollow noopener\">Twitter<\/a><\/u><br \/>\n        <\/b>\n      <\/p>\n<p>\n        <b>Investor Relations Contact:<br \/><\/b><br \/>\n        <span class=\"xn-person\">Terri Anne Powers<\/span><br \/>\n        <br \/>Vice President, Investor Relations <br \/>and Corporate Communications<br \/>(732) 482-9984<br \/><a target=\"_blank\" href=\"mailto:tpowers@cytosorbents.com\" rel=\"nofollow noopener\">tpowers@cytosorbents.com<\/a><\/p>\n<p>\n        <b>U.S. 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\">ekim@rubensteinpr.com<\/a> \u00a0<\/p>\n<p>\u00a0<\/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=NY63526&amp;sd=2021-08-03\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/cytosorbents-reports-second-quarter-2021-financial-and-operational-results-301347470.html\">https:\/\/www.prnewswire.com\/news-releases\/cytosorbents-reports-second-quarter-2021-financial-and-operational-results-301347470.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=NY63526&amp;Transmission_Id=202108031615PR_NEWS_USPR_____NY63526&amp;DateId=20210803\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Total revenue increased 23% to $12.0 million. Core non-COVID-19 product sales increased 38% Y-Y, driving overall Q2 2021 product sales to $11.4 million versus $9.5 million a year ago PR Newswire MONMOUTH JUNCTION, N.J., Aug. 3, 2021 \/PRNewswire\/ &#8212;\u00a0CytoSorbents Corporation\u00a0(NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in intensive care and cardiac surgery using blood purification via its proprietary polymer adsorption technology,\u00a0reports financial and operating results for the quarter and six months ending June 30, 2021. 38% growth in record core, non-COVID-19 product sales in Q2 2021 drove 23% growth in total quarterly revenue to $12.0M\u00a0 Second Quarter 2021 Financial Highlights Total revenue, including product sales and grant income, for Q2 2021 was $12.0 million, up 23% compared &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-reports-second-quarter-2021-financial-and-operational-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;CytoSorbents Reports Second Quarter 2021 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-522541","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 Reports Second Quarter 2021 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-reports-second-quarter-2021-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 Reports Second Quarter 2021 Financial and Operational Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Total revenue increased 23% to $12.0 million. Core non-COVID-19 product sales increased 38% Y-Y, driving overall Q2 2021 product sales to $11.4 million versus $9.5 million a year ago PR Newswire MONMOUTH JUNCTION, N.J., Aug. 3, 2021 \/PRNewswire\/ &#8212;\u00a0CytoSorbents Corporation\u00a0(NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in intensive care and cardiac surgery using blood purification via its proprietary polymer adsorption technology,\u00a0reports financial and operating results for the quarter and six months ending June 30, 2021. 38% growth in record core, non-COVID-19 product sales in Q2 2021 drove 23% growth in total quarterly revenue to $12.0M\u00a0 Second Quarter 2021 Financial Highlights Total revenue, including product sales and grant income, for Q2 2021 was $12.0 million, up 23% compared &hellip; Continue reading &quot;CytoSorbents Reports Second Quarter 2021 Financial and Operational Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-reports-second-quarter-2021-financial-and-operational-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-03T20:20:29+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=\"23 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-reports-second-quarter-2021-financial-and-operational-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cytosorbents-reports-second-quarter-2021-financial-and-operational-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"CytoSorbents Reports Second Quarter 2021 Financial and Operational Results\",\"datePublished\":\"2021-08-03T20:20:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cytosorbents-reports-second-quarter-2021-financial-and-operational-results\\\/\"},\"wordCount\":4707,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cytosorbents-reports-second-quarter-2021-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-reports-second-quarter-2021-financial-and-operational-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cytosorbents-reports-second-quarter-2021-financial-and-operational-results\\\/\",\"name\":\"CytoSorbents Reports Second Quarter 2021 Financial and Operational Results - 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