CytoSorbents Corporation Down 17.69% To $1.62 After Earnings Miss

Friday, November 4, 2022 - CytoSorbents Corporation (CTSO) reported downside earnings and revenues today.

CytoSorbents Corporation's earnings came in at an EPS loss of $0.28 per share, 75% lower than estimates for an EPS loss of $0.16 per share. The firm's loss per share expanded by 87% since reporting a loss of $0.15 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were downbeat at $8.1 million. That represents a 16.90% decrease in revenues from the year-ago report and is 9.68% lower than consensus estimates set at $9 million.

The stock is down 17.69% to $1.62 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

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

Trading in the five days leading up to the report earned CytoSorbents Corporation a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 58. 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.