CytoSorbents Corporation · NASDAQ:CTSO
CytoSorbents — Q3 2018 Earnings Presentation
13 slides from CytoSorbents's earnings presentation, Nov 6, 2018
Slide 1: CytoSorbents Corporation Q3 2018 Earnings Conference Call
CytoSorbents Corporation (NASDAQ: CTSO) A Leader in Critical Care Immunotherapy Q3 2018 Earnings Conference Call November 6, 2018
Slide 2: Conference Call Participants
Conference Call Participants Dr. Phillip Chan, MD, PhD Chief Executive Officer and President Vincent Capponi, MS Chief Operating Officer Kathleen Bloch, MBA, CPA Chief Financial Officer Dr. Eric Mortensen, MD, PhD Chief Medical Officer Dr. Christian Steiner, MD Vice President of Sales and Marketing
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: Operational Highlights
Operational Highlights • 51,000+ CytoSorb treatments delivered, from 31,000 a year ago • Record trailing 12-month total revenue of $21.1M, including record 12-month product sales of $19.1M with a mix of strong direct and distributor/partner activity in a total of 53 countries • Well-capitalized with
Slide 5: Clinical Trial Update
Clinical Trial Update • U.S. REFRESH 2 Pivotal Trial • 400 patient RCT PMA multi-center adaptive trial targeting reduction of post-op AKI using CytoSorb during complex cardiac surgery • Protocol amendment was approved by the FDA in September, with subsequent approvals by the ethics committees at our
Slide 6: Q3 2018 Financial Highlights
Q3 2018 Financial Highlights 6
Slide 7: Q3 2018 Comparative Revenue Results
Q3 2018 Comparative Revenue Results Quarter Ended Quarter Ended Sept 30, 2018 Sept 30, 2017 % Incr. Product revenue $ 5,102,748 $ 3,448,661 48% Grant and other income 640,225 375,638 70% Total revenue $ 5,742,973 $ 3,824,299 50% • Q3 2018 CytoSorb® sales were $5.1M, a 48% increase over $3.4M in Q3 2
Slide 8: Comparative 9-Month Revenue Results
Comparative 9-Month Revenue Results 9 Months Ended 9 Months Ended Sept 30, 2018 Sept 30, 2017 % Incr. Product revenue $14,781,599 $9,085,806 63% Grant and other income $1,641,464 $1,418,237 16% Total revenue $16,423,063 $ 10,504,043 56% • Product sales for the first nine months of 2018 were $14.8M,
Slide 9: Quarterly Product Sales
Quarterly Product Sales 25 Consecutive Quarters of Year-over-Year Sales Growth $5,245,555 CytoSorb® Product Sales $5,102,748 $5,000,000 Q3 2018 sales were negatively affected by a decrease in the Euro to dollar $4,433,296 $4,296,047 exchange rate which reduced Q3 2018 reported sales by $178K. If the
Slide 10: Product Sales
Over the past three years, the compound growth rate of return (“CAGR”) on product sales was 77% $20,000,000 $19,077,646 Trailing Twelve Month Product Sales $18,000,000 $16,000,000 Trend Line $14,000,000 $12,000,000 $11,698,607 Trend Line Product Sales $10,000,000 $8,000,000 $7,088,8/25 $6,000,000 $4
Slide 11: Working Capital and Cap Table
Working Capital and Cap Table Working Capital as of 9/30/2018 6/30/2018 3/31/18 12/31/17 12/31/16 12/31/15 12/31/14 Current Assets: Cash and short-term investments $24,911 $25,282 $ 21,090 $ 17,322 $ 5,245 $ 7,509 $ 5,550 Grants and accounts receivable, net 3,643 2,903 2,352 2,206 1,433 649 819 Inve
Slide 12: Guidance
Guidance • We expect Q4 2018 product sales will exceed Q3 2018 product sales • Continue to expect solid growth and achievement of operating profitability in 2018 on a quarterly basis (less non-cash expenses and clinical trial costs) • Anticipate expansion in blended product gross margins (currently
Slide 13: 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 13