Cytosorbents Corporation · NASDAQ:CTSO
Cytosorbents — Q1 2023 Earnings Presentation
19 slides from Cytosorbents's earnings presentation, May 2, 2023
Slide 1: The Unrecognized Faces of Critical Illness
The Unrecognized Faces of Critical Illness CytoSorbents Corporation Q1 2023 Earnings Conference Call May 2, 2023
Slide 2: Conference Call Participants
Conference Call Participants Moderator: Taylor Devlin CytoSorbents Corporation Phillip Chan, MD, PhD Vincent Capponi, MS Chief Executive Officer President and Chief Operating Officer Kathleen Bloch, MBA, CPA Efthymios “Makis” Deliargyris Interim Chief Financial Officer MD, FACC, FESC, FSCAI Chief Me
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 • Surpassed 200,000 cumulative CytoSorb treatments across 75 countries (203K+ as of 3/31/23), after achieving the 100,000 treatment milestone less than 3 years ago • Pivotal STAR-T trial achieved second milestone of 80 patients enrolled on schedule, after achieving the
Slide 6: Recent Operational Highlights
Recent Operational Highlights Hosted a successful and highly attended research symposium at the International Symposium of Intensive Care and Emergency Medicine (ISICEM 2023), highlighting data using CytoSorb to treat cytokine storm and inflammation in diseases such as sepsis, shock, and ARDS 6
Slide 7: 2023: Eyes on the Prize
2023: Eyes on the Prize We are focused on three major objectives for 2023: Opening the U.S. and Canadian markets with DrugSorb-ATR Return to Sales Growth Reduced Cash Burn and Tight Control Over Expenses 7
Slide 8: Opening the U.S. and Canadian markets with DrugSorb-ATR
Opening the U.S. and Canadian markets with DrugSorb-ATR • DrugSorb-ATR and STAR-T remains the core focus of our clinical efforts, and the vehicle expected to open the U.S. and Canadian markets. We have received 2 FDA Breakthrough Device Designations for DrugSorb-ATR to remove blood thinning medicati
Slide 9: Opening the U.S. and Canadian markets with DrugSorb-ATR
Opening the U.S. and Canadian markets with DrugSorb-ATR Decision to Forego Interim Analysis at 80 Patients • As discussed recently, the rapid pace of enrollment of STAR-T led us to elect to forego a formal interim analysis on the first 80 patients • To fully understand this decision, it is important
Slide 10: Return to Sales Growth
Return to Sales Growth • Sequential growth in Q1 2023 product sales from Q4 2022 and 8% quarterly core product sales growth year over year is an encouraging sign • Seeing strong customer engagement, excellent feedback on our most recent clinical and scientific data, and a trend of improvement in our
Slide 11: Financial Highlights
Financial Highlights Kathleen Bloch, MBA, CPA Interim Chief Financial Officer
Slide 12: Comparative Quarterly Revenue Results
Comparative Quarterly Revenue Results Quarter Ended Quarter Ended Mar 31, 2023 Mar 31, 2022 % Incr. Product revenue $7,910,039 $7,924,457 (0.2)% Grant and other income 1,539,457 766,967 100.7% Total revenue $9,449,496 $8,691,424 8.7% • Total revenue, including product sales and grant income was $9.4
Slide 13: TTM Product Sales & Blended Gross Margin
TTM Product Sales & Blended Gross Margin $45.0 80% 80% $40.0 77% 76% 74% 74% $9.6 $35.0 $4.8 70% 68% 68% $30.0 $1.9 60% $ IN MILLIONS $25.0 $1.6 50% $20.0 $31.8 $33.1 $15.0 $29.3 40% $24.7 $10.0 $20.4 $15.2 30% $5.0 $9.2 $0.0 20% Q1 2017 Q1 2018 Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023* Axis Title Co
Slide 14: 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 $1.7 $2.4 $9.7 $1.1 $9.0 $7.9 $0.0 $7.7 $0.3 $7.6 $0.0 $8.0 $0.0 $8.3 $1.6 $8.0 $7.8 $7.5 $6.5 $0.0 $ IN MILLONS $7.3 $7.1 $6.6 $6.5 $6.0 $5.9 $5.7 $5.5 $5.2 $5.1 $4.6 $4.4 $4.0
Slide 15: Reduced Cash Burn and Tight Control Over Expenses
Reduced Cash Burn and Tight Control Over Expenses • We have $20.7M (includes $1.7M of restricted cash) in cash as of March 31, 2023. This includes $5M of loan proceeds received from our debt facility in December 2022. Cash on hand provides a runway of more than one year of operating cash flow • We h
Slide 16: Concluding Remarks
Concluding Remarks Phillip Chan, MD, PhD Chief Executive Officer
Slide 17: CytoSorbents 2023 – Eyes on the Prize
CytoSorbents 2023 – Eyes on the Prize CytoSorbents 2023 is a rapidly evolving story making progress on these three key objectives: Opening the U.S. and Canadian markets with DrugSorb-ATR Return to Sales Growth Reduced Cash Burn and Tight Control Over Expenses • We have a strong management team to le
Slide 18: Many Thanks and a Fond Farewell!
Many Thanks and a Fond Farewell! Al Kraus Kathy Bloch Chairman of the BOD (2009-2023) Chief Financial Officer (2013-2023) CEO (2003-2008) Interim CFO (present) 18
Slide 19: Q&A Session
Q&A Session CytoSorbents Corporation NASDAQ: CTSO Investor Contact Kathy Bloch Interim Chief Financial Officer kbloch@cytosorbents.com 19