Cytosorbents Corporation · NASDAQ:CTSO
Cytosorbents — Q4 2023 Earnings Presentation
24 slides from Cytosorbents's earnings presentation, Mar 14, 2024
Slide 1: The Unrecognized Faces of Critical Illness: Q4 and FY 2023 Earnings Call
The Unrecognized Faces of Critical Illness CytoSorbents Corporation Q4 2023 and FY 2023 Earnings Conference Call March 14, 2024
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 Chief Financial Officer MD, FACC, FESC, FSCAI Chief Medical Of
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 • >228,000 cumulative CytoSorb® treatments delivered as of end-2023, up 17% from end-2022 • Our European Union CE Mark for CytoSorb was extended under the Medical Devices Directive (MDD) to the earlier of either December 2028 or when we achieve E.U. Medical Device Regul
Slide 6: Stand-Alone Hemoperfusion Pump Initiative
Stand-Alone Hemoperfusion Pump Initiative • Our Stand-alone pump initiative is expected to bring our next generation blood purification capability to countries that do not have a strong dialysis infrastructure • Expecting to launch our new PuriFi pump later this year following the expiration of our
Slide 7: STAR-T Update
STAR-T Update • The pivotal STAR-T RCT was selected for a Breakout Presentation at the American Association of Thoracic Surgery (AATS) Annual Meeting being held April 27-30, 2024 in Toronto, Canada • We plan to have a subsequent Analyst and Investor Day and provide a review of the data by an esteeme
Slide 8: Estimated STAR-T Timeline
Estimated STAR-T Timeline* STAR FDA FDA STAR-T Data Registry Submission Review Begin US Analysis 3rd Analysis Acceptance Process DrugSorb-ATR Completion EuroPCR +1.5 Sales +8-10 March 2024 May 2024 months months 2H 2025 Late- FDA PMA Health FDA Health Breaking Submission Canada DrugSorb-ATR Canada A
Slide 9: STAR-T Update
STAR-T Update • The pivotal STAR-T RCT was selected for a Breakout Presentation at the American Association of Thoracic Surgery (AATS) Annual Meeting being held April 27-30, 2024 in Toronto, Canada • We plan to have a subsequent Analyst and Investor Day and provide a review of the data by an esteeme
Slide 10: United States & Canada TAM for Brilinta Removal
United States & Canada TAM for Brilinta Removal ~65,000 patients on Brilinta needing emergent/urgent CABG surgery annually X $5,000 per device $325M Initial U.S. & Canada Total Addressable Market Brilinta market share expected to grow • DrugSorb-ATR would make Brilinta the only reversible platelet i
Slide 11: 2023 Sales Update
2023 Sales Update • Core CytoSorb sales grew 10% year over year • Strong performance from International Direct: 27% sales growth to $6M (19% product sales) • Distributor/Partner sales: 18% growth in Q1-Q3 2024 vs same period 2022 (not including US distributor sales) • Impacted by change in stand-alo
Slide 12: Marketed Products and Product Pipeline
Marketed Products and Product Pipeline Internal development supplemented by strong government support with ~$50M in grants, contracts, other non-dilutive funds awarded since 2003 for our technology from DARPA, NIH, NHLBI, U.S. Army, U.S. Air Force, HHS, and others Sepsis, Critical Care, Removal of A
Slide 13: ECOS-300CY in Ex Vivo Perfusion and Solid Organ Transplant
ECOS-300CY® in Ex Vivo Perfusion and Solid Organ Transplant • Solid organ transplant is the main treatment option in advanced organ failure but is limited by the availability of suitable and healthy organs • Ex vivo organ perfusion (EVOP) with temperature controlled, oxygenated, nutrient rich fluid
Slide 14: For Companion Animals
For Companion Animals • The COVID pandemic has driven companion animal ownership, with 45% of U.S. households owning a dog, and 26% owning a cat, according to the American Veterinarian Medical Society • Companion animals are prone to a wide variety of medical emergencies ranging from: • Drug intoxic
Slide 15: HemoDefend BGA The Promise of Universal Plasma
HemoDefend BGA The Promise of Universal Plasma • HemoDefend-BGA was developed to create “universal plasma” – plasma that does not need blood-typing and can be given off the shelf to anyone in need regardless of blood type - by removing anti-A and anti-B antibodies that make plasma blood-type specifi
Slide 16: Financial Highlights
Financial Highlights Kathleen Bloch, MBA, CPA Chief Financial Officer
Slide 17: 2023 Comparative Revenue Results
2023 Comparative Revenue Results Year Ended Year Ended Dec. 31, 2023 Dec. 31, 2022 % Incr. CytoSorb Sales $31,015,268 $28,572,709 9% Other Sales 69,685 787,201 -91% Total Product Sales 31,084,953 29,359,910 6% Grant Income 5,264,426 5,328,899 -1% Total Revenue $36,349,379 $34,688,809 5% • Total 2023
Slide 18: Annual Product Sales
Annual Product Sales $45.0 90% $40.1 $39.3 80% $40.0 70% $35.0 $31.1 60% $30.0 $29.4 50% $25.0 40% $22.8 $20.3 30% $20.0 20% $15.0 $13.4 10% $10.0 0% 2017 2018 2019 2020 2021 2022 2023 CytoSorb Sales Trend Line CytoSorb Sales Blended Product Gross Margin 2020 and 2021 sales were favorably impacted b
Slide 19: Q4 2023 Comparative Revenue Results
Q4 2023 Comparative Revenue Results Quarter Ended Quarter Ended Dec. 31, 2023 Dec. 31, 2022 % Incr. CytoSorb sales $7,334,085 $ 7,396,515 -1% Other Sales 14,400 245,507 -94% Total Product Sales 7,348,485 7,642,022 -4% Grant Income 1,319,730 1,748,453 -25% Total Revenue $ 8,668,215 $ 9,390,475 -8% •
Slide 20: Preserving the Cash Runway
Preserving the Cash Runway • We have $15.6M (includes $1.5M of restricted cash) in cash as of December 31, 2023. This includes net proceeds of $9.8M from our equity raise in December 2023 and approximately $4.5M raised in 2023 utilizing the ATM facility. We believe that cash on hand is sufficient to
Slide 21: Concluding Remarks
Concluding Remarks Phillip Chan, MD, PhD Chief Executive Officer
Slide 22: Today: CytoSorb Drives our Growth
Today: CytoSorb Drives our Growth • CytoSorb forms the Company’s foundation • E.U. approved and sold around the world • Generated ~$200M in sales since launch • High margin razorblade business model with historically ~80% blended product gross margins • Strong validation by customers, partners, and
Slide 23: Soon: CytoSorb & DrugSorb-ATR Dual Growth Engines
Soon: CytoSorb & = Dual Growth Engines • Should STAR-T be successful and DrugSorb-ATR achieves U.S. FDA and Health Canada regulatory approval, we intend to commercialize DrugSorb-ATR in both the U.S. and Canada – a potential second engine of growth, working in tandem with CytoSorb to drive sales • A
Slide 24: Q&A Session
Q&A Session CytoSorbents Corporation NASDAQ: CTSO Company Contact Dr. Phillip Chan pchan@cytosorbents.com 24