Cytosorbents Corporation · NASDAQ:CTSO
Cytosorbents — Q1 2024 Earnings Presentation
20 slides from Cytosorbents's earnings presentation, May 9, 2024
Slide 1: The Unrecognized Faces of Critical Illness
The Unrecognized Faces of Critical Illness CytoSorbents Corporation Nasdaq: CTSO Q1 2024 Earnings Conference Call May 9, 2024
Slide 2: Conference Call Participants
Moderator: Eric Ribner Conference Call Participants LifeSci Advisors Phillip Chan, MD, PhD Vincent Capponi, MS Chief Executive Officer President and Chief Operating Officer Kathleen Bloch, MBA, CPA Efthymios “Makis” Deliargyris Chief Financial Officer MD, FACC, FESC, FSCAI Chief Medical Officer Chri
Slide 3: Safe Harbor Statement
Safe Harbor Statement Statements in this presentation regarding CytoSorbents Corporation and its operating subsidiaries CytoSorbents Medical, Inc and CytoSorbents Europe GmbH that are not historical facts are forward- looking statements and are subject to risks and uncertainties that could cause act
Slide 4: Operational Update
Operational Update Phillip Chan, MD, PhD Chief Executive Officer
Slide 5: Recent Operational Highlights
Recent Operational Highlights • $9.0M in product sales in Q1 2024 • +14% from $7.9M a year ago • +22% sequentially from $7.3M in Q4 2023 • Product gross margins were 76%, up 800 bp from 68% a year ago* • STAR-T Data was presented for the first time by PI Dr. Michael Mack at the 104th Annual Meeting
Slide 6: Recent Operational Highlights (cont)
Recent Operational Highlights (cont) • Cumulative CytoSorb treatments delivered exceeded 237K (3/31/24) and are expected to reach a quarter million this year • Expect to take delivery of and launch our easy-to-use PuriFi hemoperfusion pump in Q2 2024 in select international countries – a key 2024 gr
Slide 7: Many New Publications
Many New Publications VA biomedicines (tbe) Systematic Review Hemoadsorption Therapy for Critically Ill Patients with Acute Liver Dysfunction: A Meta-Analysis and Systematic Review Caner Turan 10, Csenge Erzsébet Srigetviry "2, Tama 23, Marie Anne Engh ?, Ipil Atakan 2, Liszlé Zubek?, Tamas Terebess
Slide 8: Financial Highlights
Financial Highlights Kathleen Bloch, MBA, CPA Chief Financial Officer
Slide 9: Comparative Quarterly Revenue Results
Comparative Quarterly Revenue Results Quarter Ended Quarter Ended Mar 31, 2024 Mar 31, 2023 % Incr. Product revenue $8,989,520 $7,910,039 14% Grant and other income 796,772 1,539,457 -48% Total revenue $9,786,292 $9,449,496 4% • Product sales for Q1 2024 were approximately $9.0M compared to $7.9M pr
Slide 10: TTM Product Sales & Blended Gross Margin
TTM Product Sales & Blended Gross Margin $45.0 $41.4 80% $40.0 $37.9 70% $35.0 $32.2 $29.3 60% $30.0 $26.3 50% $25.0 $20.4 40% $20.0 $15.2 $15.0 30% $10.0 20% TTM TTM TTM TTM TTM TTM TTM 3/31/18 3/31/19 3/31/20 3/31/21 3/31/22 3/31/23 3/31/24 CytoSorb Sales Blended Product Gross Margin 10
Slide 11: Total Quarterly Product Sales
Total Quarterly Product Sales Product Sales $12.0 Core Non-COVID-19 Product Sales COVID-19 Sales $2.5 $1.7 $10.0 $2.7 $1.8 $9.0 $0.0 $1.7 $2.4 $9.7 $8.1 $0.0 $1.1 $9.0 $0.0 $7.9 $0.0 $7.7 $0.3 $7.6 $0.0 $7.3 $0.0 $8.0 $0.0 $8.3 $1.6 $8.0 $7.8 $7.8 $7.5 $6.5 $0.0 $ IN MILLONS $7.3 $7.1 $6.6 $6.5 $6.0
Slide 12: Cash Flow
Cash Flow • As of March 31, 2024, we had $10.1M in cash, which includes $1.5M of restricted cash. We believe that cash on hand is sufficient to fund the Company’s operations into the fourth quarter of 2024. • We continue to work to strengthen our balance sheet and reduce operating expenses through t
Slide 13: Clinical Highlights
Clinical Highlights Efthymios “Makis” Deliargyris, MD, FACC, FESC, FSCAI Chief Medical Officer
Slide 14: DrugSorb-ATR is a Breakthrough Device
DrugSorb-ATR is a Breakthrough Device • FDA has granted 2 Breakthrough Device Designations (BDD) for DrugSorb-ATR* 2020: Removal of ticagrelor (Brilinta®, AstraZeneca) in emergent or urgent cardiothoracic surgery 2021: Removal of DOACs, apixaban (Eliquis®, Pfizer, BMS) and rivaroxaban (Xarelto®, Bay
Slide 15: Highlights from STAR-T Presentation @AATS
Highlights from STAR-T Presentation @AATS STUDY METRICS Primary composite endpoint not met (Overall) 140 Randomized – 8 no study device = 132 (Overall) Isolated CABG Per Protocol (no deviations): 92% Isolated CABG and 8% “Other surgeries” Enrollment breakdown 66% US, 34% Canada Prespecified WIN Rati
Slide 16: Regulatory Path: De Novo Pathway
Regulatory Path: De Novo Pathway “We have been working with CytoSorbents on the development of their regulatory strategy for the DrugSorb-ATR device. Based on the data the company has shared with us and the extensive experience we have in the preparation of De Novo submissions, it is our opinion thi
Slide 17: Summary
Summary • Ticagrelor is an FDA approved drug widely used as standard of care in U.S. and Canada, but confers increased risk of severe perioperative bleeding for patients who require urgent surgical treatment • DrugSorb-ATR is an investigational device that has FDA Breakthrough status for this applic
Slide 18: Closing Statement
Closing Statement Phillip Chan, MD, PhD Chief Executive Officer
Slide 19: The Path Forward
The Path Forward • We see tremendous opportunity fueled by important demographic trends such as: • Aging baby boomer generation who are prone to critical illness • Expanding global use of blood thinners by millions for stroke and heart attack prophylaxis • The chronic liver disease epidemic in 20% o
Slide 20: Q&A Session
Q&A Session NASDAQ: CTSO Company Contact: Investor Relations Contact: Dr. Phillip Chan Eric Ribner – LifeSci Advisors pchan@cytosorbents.com ir@cytosorbents.com 20