{"id":833954,"date":"2025-04-04T07:05:36","date_gmt":"2025-04-04T11:05:36","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-extends-expiration-date-of-outstanding-series-b-right-warrants\/"},"modified":"2025-04-04T07:05:36","modified_gmt":"2025-04-04T11:05:36","slug":"cytosorbents-extends-expiration-date-of-outstanding-series-b-right-warrants","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-extends-expiration-date-of-outstanding-series-b-right-warrants\/","title":{"rendered":"CytoSorbents Extends Expiration Date of Outstanding Series B Right Warrants"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n
\n PRINCETON, N.J.<\/span>
\n <\/span>, April 4, 2025<\/span><\/span> \/PRNewswire\/ — CytoSorbents Corporation<\/a><\/u> (NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification, announced the extension of the expiration date of the Series B Right Warrants (the “Series B Right Warrants”) issued in the Company’s Rights Offering<\/a> in January 2025<\/span>. The Series B Warrants were previously scheduled to expire on April 10, 2025<\/span>, and will now expire on June 10, 2025<\/span> instead.<\/p>\n

\n

\n
\n \"CytoSorbents
\n <\/a>\n <\/p>\n<\/p><\/div>\n

The Series B Right Warrants are exercisable commencing on their date of issuance at an exercise price equal to 90% of the 5-day volume weighted average price of our common stock over the last 5-trading days prior to the expiration date of the Series B Right Warrants on June 10, 2025<\/span>, rounded down to the nearest whole cent but (x) not lower than $2.00<\/span> and (y) not higher than $4.00<\/span>.\u00a0<\/p>\n

Exercise of the Series B Right Warrants requires additional investment separate from the exercise of subscription rights in the Rights Offering.\u00a0 Approximately 4.8 million shares of common stock remain reserved for exercise of the Series B Right Warrants, after which any remaining unexercised Series B Right Warrants will immediately expire worthless.\u00a0 Instructions to exercise the Series B Right Warrants will be fulfilled in the order they are received.\u00a0 Holders of the Series B Right Warrants are required to provide the maximum price of the Right Warrant of $4.00<\/span> to exercise their warrant and will be refunded the difference based on the final Series B Right Warrant exercise price.\u00a0 \u00a0<\/p>\n

\n About<\/b>
\n \u00a0CytoSorbents Corporation (<\/b>
\n
\n NASDAQ: CTSO<\/a>
\n <\/b>
\n )<\/b>\n <\/p>\n

\n CytoSorbents Corporation<\/a> is a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery through blood purification. CytoSorbents’ proprietary blood 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. Cartridges filled with these beads can be used with standard blood pumps already in the hospital (e.g. dialysis, continuous renal replacement therapy or CRRT, extracorporeal membrane oxygenation or ECMO, and heart-lung machines), where blood is repeatedly recirculated outside the body, through our cartridges where toxic substances are removed, and then back into the body. CytoSorbents’ technologies are used in a number of broad applications. Specifically, two important applications are 1) the removal of blood thinners during and after cardiothoracic surgery to reduce the risk of severe bleeding, and 2) the removal of inflammatory agents and toxins in common critical illnesses that can lead to massive inflammation, organ failure and patient death. The breadth of these critical illnesses includes, for example, sepsis, burn injury, trauma, lung injury, liver failure, cytokine release syndrome, and pancreatitis as well as the removal of liver toxins that accumulate in acute liver dysfunction or failure, and the removal of myoglobin in severe rhabdomyolysis that can otherwise lead to renal failure. In these diseases, the risk of death can be extremely high and there are few, if any, effective treatments.<\/p>\n

CytoSorbents’ lead product,\u00a0CytoSorb<\/a>\u00ae<\/a><\/sup>, is approved in the\u00a0European Union\u00a0and distributed in over 70 countries worldwide, with more than a quarter million devices used cumulatively to date.\u00a0 CytoSorb was originally launched in the\u00a0European Union\u00a0under CE mark as the first cytokine adsorber.\u00a0 Additional CE mark extensions were granted for bilirubin and myoglobin removal in clinical conditions such as liver disease and trauma, respectively, and for\u00a0ticagrelor<\/a>\u00a0and\u00a0rivaroxaban<\/a>\u00a0removal in cardiothoracic surgery procedures. CytoSorb has also received\u00a0FDA Emergency Use Authorization<\/a>\u00a0in\u00a0the United States\u00a0for use in adult critically ill COVID-19 patients with impending or confirmed respiratory failure.\u00a0 CytoSorb is not yet approved or cleared in\u00a0the\u00a0United States.<\/p>\n

In the U.S. and Canada<\/span>, CytoSorbents is developing the DrugSorb\u2122-ATR antithrombotic removal system, an investigational device based on an equivalent polymer technology to CytoSorb, to reduce the severity of perioperative bleeding in high-risk surgery due to blood thinning drugs.\u00a0 It has received two\u00a0FDA Breakthrough Device Designations<\/a>:\u00a0 one for the removal of\u00a0ticagrelor<\/a>\u00a0and another for the removal of the\u00a0direct oral anticoagulants (DOAC) apixaban and rivaroxaban<\/a>\u00a0in a cardiopulmonary bypass circuit during urgent cardiothoracic procedures.\u00a0 In September 2024<\/span>, the Company submitted a De Novo medical device application to the U.S. FDA<\/a> requesting marketing approval to reduce the severity of perioperative bleeding in CABG patients on the antithrombotic drug ticagrelor, which was accepted for substantive review in October 2024<\/span><\/a>.\u00a0 In November 2024<\/span>, the Company received its MDSAP certification and submitted its Medical Device License (MDL) application to Health Canada<\/a>.\u00a0 DrugSorb-ATR is not yet granted or approved in the United States<\/span> and Canada<\/span>, respectively.\u00a0<\/p>\n

The Company has numerous marketed products and products under development based upon this unique blood purification technology protected by many issued\u00a0U.S.\u00a0and 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+ontrol\u2122, DrugSorb\u2122, ContrastSorb, and others. For more information, please visit the Company’s website at\u00a0https:\/\/ir.cytosorbents.com\/<\/a> \u00a0or follow us on\u00a0Facebook<\/a>\u00a0and\u00a0X<\/a>.\u00a0<\/p>\n

\n Forward-Looking Statements<\/b>\n <\/p>\n

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.\u00a0 These forward-looking statements include, but are not limited to, statements about our plans, objectives, future targets and outlooks for our business, representations and contentions, and the outcome of our regulatory submissions, the anticipated benefits of the Rights Offering, and are not historical facts and typically are identified by use of terms such as “may,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue” and similar words, although some forward-looking statements are expressed differently.\u00a0 You should be aware that the forward-looking statements in this press release represent management’s current judgment and expectations, but our actual results, events and performance could differ materially from those in the forward-looking statements.\u00a0 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 March 31, 2025<\/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.\u00a0 We caution you not to place undue reliance upon any such forward-looking statements.\u00a0 We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than as required under the Federal securities laws.<\/p>\n

\n
\n Please Click to Follow Us on Facebook<\/a> and X<\/a><\/u>
\n <\/b>\n <\/p>\n

\n U.S.\u00a0 Company Contact:<\/b>\u00a0
Peter J.\u00a0 Mariani
Chief Financial Officer
pmariani@cytosorbents.com<\/a>\u00a0<\/p>\n

\n Investor Relations Contact:
<\/b>
\n Aman Patel<\/span>, CFA\u00a0
Investor Relations, ICR Healthcare\u00a0
(443) 450-4191
ir@cytosorbents.com<\/a>\u00a0<\/p>\n

\n \"Cision\" View original content to download multimedia:https:\/\/www.prnewswire.com\/news-releases\/cytosorbents-extends-expiration-date-of-outstanding-series-b-right-warrants-302420592.html<\/a><\/p>\n

SOURCE Cytosorbents Corp<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire PRINCETON, N.J. , April 4, 2025 \/PRNewswire\/ — CytoSorbents Corporation (NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification, announced the extension of the expiration date of the Series B Right Warrants (the “Series B Right Warrants”) issued in the Company’s Rights Offering in January 2025. The Series B Warrants were previously scheduled to expire on April 10, 2025, and will now expire on June 10, 2025 instead. The Series B Right Warrants are exercisable commencing on their date of issuance at an exercise price equal to 90% of the 5-day volume weighted average price of our common stock over the last 5-trading days prior to … <\/p>\n

Continue reading “CytoSorbents Extends Expiration Date of Outstanding Series B Right Warrants”<\/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-833954","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCytoSorbents Extends Expiration Date of Outstanding Series B Right Warrants - 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-extends-expiration-date-of-outstanding-series-b-right-warrants\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CytoSorbents Extends Expiration Date of Outstanding Series B Right Warrants - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire PRINCETON, N.J. , April 4, 2025 \/PRNewswire\/ — CytoSorbents Corporation (NASDAQ: CTSO), a leader in the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification, announced the extension of the expiration date of the Series B Right Warrants (the “Series B Right Warrants”) issued in the Company’s Rights Offering in January 2025. The Series B Warrants were previously scheduled to expire on April 10, 2025, and will now expire on June 10, 2025 instead. 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The Series B Warrants were previously scheduled to expire on April 10, 2025, and will now expire on June 10, 2025 instead. The Series B Right Warrants are exercisable commencing on their date of issuance at an exercise price equal to 90% of the 5-day volume weighted average price of our common stock over the last 5-trading days prior to … Continue reading \"CytoSorbents Extends Expiration Date of Outstanding Series B Right Warrants\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-extends-expiration-date-of-outstanding-series-b-right-warrants\/","og_site_name":"Market Newsdesk","article_published_time":"2025-04-04T11:05:36+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1096384\/CytoSorbents_Working_To_Save_Lives_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-extends-expiration-date-of-outstanding-series-b-right-warrants\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-extends-expiration-date-of-outstanding-series-b-right-warrants\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"CytoSorbents Extends Expiration Date of Outstanding Series B Right Warrants","datePublished":"2025-04-04T11:05:36+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-extends-expiration-date-of-outstanding-series-b-right-warrants\/"},"wordCount":1134,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-extends-expiration-date-of-outstanding-series-b-right-warrants\/#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-extends-expiration-date-of-outstanding-series-b-right-warrants\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/cytosorbents-extends-expiration-date-of-outstanding-series-b-right-warrants\/","name":"CytoSorbents Extends Expiration Date of Outstanding Series B Right Warrants - 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