Cytosorbents Corporation · NASDAQ:CTSO
Cytosorbents — Q3 2020 Earnings Presentation
17 slides from Cytosorbents's earnings presentation, Nov 4, 2020
Slide 1: Q3 2020 Earnings Conference Call
CytoSorbents Corporation (NASDAQ: CTSO) Working To Save Lives Q3 2020 Earnings Conference Call November 4, 2020
Slide 2: Conference Call Participants
Moderator: Jeremy Feffer Conference Call Participants LifeSci Advisors Phillip Chan, MD, PhD – Chief Executive Officer Vincent Capponi, MS – Chief Operating Officer and President Kathleen Bloch, MBA, CPA – Chief Financial Officer Efthymios “Makis” Deliargyris, MD, FACC, FESC, FSCAI – Chief Medical O
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 actu
Slide 4: Q3 2020 Operational Highlights
Q3 2020 Operational Highlights • Q3 2020 Total Revenue grew 73% to $10.5M, and Product Sales grew 79% to $10.2M over Q3 2019. Trailing 12-month Product Sales were $34.5M • Delivered >110,000 cumulative CytoSorb cartridges to date, up 51% from a year ago • Blended product gross margins were 74% in Q3
Slide 5: Sales Growth Strategy
Sales Growth Strategy With our strong financial performance and solid cash position, coupled with strong current and anticipated demand for CytoSorb, we are executing a number of key initiatives to drive growth • Maximize the COVID-19 Opportunity • Well-positioned in Europe and throughout the world
Slide 6: Overview of Clinical Activities
Overview of Clinical Activities 6
Slide 7: Clinical Trials Timetable
Clinical Trials Timetable Critical Care STAR IIl-RCT = CV Working to Save Lives Through Blood Purification
Slide 8: Update on Other Clinical Programs
Update on Other Clinical Programs • Dual Path to U.S. FDA Approval • REFRESH 2-AKI Trial • FDA Breakthrough Designation for removal of ticagrelor in urgent and emergent cardiothoracic surgery • TISORB • REMOVE Endocarditis Trial 8
Slide 9: COVID-19 Data Generation
COVID-19 Data Generation Aim Generate evidence with CytoSorb therapy in COVID-19 patients Strategy Multiple projects tailored to different data sources and regions Process Dedicated task force > Data identification, collection and analysis Publications >>> Evidence based treatment recommendations US
Slide 10: Financial Highlights
Financial Highlights med CVtOSorbents . forking to Save Lives Through Blood Purification
Slide 11: Q3 2020 Comparative Revenue Results
Q3 2020 Comparative Revenue Results Quarter Ended Quarter Ended Sep 30, 2020 Sep 30, 2019 % Incr. Product revenue $ 10,245,642 $ 5,728,463 78.9% Grant and other income 300,970 366,544 (17.9)% Total revenue $ 10,546,612 $ 6,095,007 73.0% • Q3 2020 CytoSorb® sales were $10.2M, an increase of 79% over
Slide 12: Comparative 9-Month Revenue Results
Comparative 9-Month Revenue Results Nine Months Nine Months Ended Sep 30, Ended Sep 30, 2020 2019 % Incr. Product revenue $27,921,940 $16,155,459 72.8% Grant and other income 1,126,885 1,363,703 (17.4)% Total revenue $29,048,825 $17,519,162 65.8% • For the first nine months of 2020, CytoSorb® produc
Slide 13: Quarterly Product Sales
$6,000,000 $2,000,000 $4,000,000 $8,000,000 $0 $10,000,000 Q1 2013 $176,098 Q2 2013 $127,969 Q3 2013 $203,561 Q4 2013 $314,159 Q1 2014 $569,243 Q2 2014 $663,233 Q3 2014 $1,031,761 Q4 2014 $871,150 Q1 2015 $703,658 Q2 2015 $773,112 Q3 2015 $1,071,459 Q4 2015 $1,495,590 Q1 2016 $1,597,449 13 Q2 2016 $
Slide 14: Product Sales (TTM) and Blended Gross Margins
Product Sales (TTM) and Blended Gross Margins $40,000,000 80% $34,532,334 $35,000,000 78% 76% $30,000,000 74% $25,000,000 $21,626,242 72% $19,077,647 $20,000,000 70% $15,000,000 $11,698,607 68% $10,000,000 $7,088,825 66% $5,000,000 $3,419,379 64% $0 62% Q3 2015 Q3 2016 Q3 2017 Q3 2018 Q3 2019 Q3 202
Slide 15: Working Capital and Cap Table
Working Capital and Cap Table Working Capital as of 9/30/2020 6/30/2020 3/31/2020 12/31/2019 9/30/2019 6/30/2019 3/31/2019 12/31/2018 Current Assets: Cash and short-term investments $87,978 $35,114 $26,389 $12,232 $15,978 $16,342 $19,647 $22,369 Grants and accounts receivable, net 5,797 3,890 5,396
Slide 16: Guidance
Guidance • CytoSorbents has not historically given specific financial guidance on quarterly results until the quarter has been completed. However: • Provided that the current order pattern continues, and notwithstanding uncertainty related to the COVID-19 pandemic, we expect that Q4 2020 will be one
Slide 17: Q&A Session
Q&A Session CytoSorbents Corporation NASDAQ: CTSO Investor Relations: Jeremy Feffer (212) 915-3820 jeremy@lifesciadvisors.com A Leader in Critical Care Immunotherapy