Cytosorbents Cor Down 8.24% To $0.89 After Earnings Beat

Cytosorbents Cor (CTSO) said after close Thursday that it lost $0.12 per share in quarter four 2023.

On the revenue line, the company reported $8.7 million, missing estimates by $580 thousand.

In the same quarter a year ago, the company lost $0.01 per share on revenue of $9.4 million.

The stock is down 8.24% to $0.89 after the report.

Despite Cytosorbents Cor reporting a decline in revenues, earnings increased signaling a rise in profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 34. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

CytoSorbents Corp is a critical care immunotherapy leader commercializing its European Union approved CytoSorb blood purification technology to treat deadly inflammation in critically ill and cardiac surgery patients in around 55 countries. The company is conducting its pivotal REFRESH 2 - AKI cardiac surgery trial, designed to support U.S. FDA approval. The company's product portfolio consists of CytoSorb, ContrastSorb, VetResQ, HemoDefend and others. The company has around 19 issued U.S. patents, multiple patents issued internationally, and a broad patent application portfolio pending. Geographically it derives substantial revenue from product sales in Germany.