Cytosorbents Corporation · NASDAQ:CTSO
Cytosorbents — Q1 2020 Earnings Presentation
13 slides from Cytosorbents's earnings presentation, May 5, 2020
Slide 1: CytoSorbents Corporation Q1 2020 Earnings Conference Call
CytoSorbents Corporation (NASDAQ: CTSO) A Leader in Critical Care Immunotherapy Q1 2020 Earnings Conference Call May 5, 2020
Slide 2: Conference Call Participants
Conference Call Participants Dr. Phillip Chan, MD, PhD Chief Executive Officer Vincent Capponi, MS Chief Operating Officer and President Kathleen Bloch, MBA, CPA Chief Financial Officer Dr. Efthymios “Makis” Deliargyris, MD Chief Medical Officer Dr. Christian Steiner, MD Senior Vice President Sales
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: Q1 2020 Operational Highlights
Q1 2020 Operational Highlights • 88,000+ CytoSorb treatments delivered, up from 61,000 a year ago • Q1 2020 Total Revenue grew 68% to $8.7M, and Product Sales grew 78% to $8.2M over Q1 2019 • Ended Q1 2020 with $2.7M in CytoSorb order backlog and have ramped production to near full capacity with abi
Slide 5: Ticagrelor FDA Breakthrough Designation
Ticagrelor FDA Breakthrough Designation FDA Breakthrough Desination granted to CytoSorb for the removal of ticagrelor in a cardiopulmonary bypass in urgent or emergent cardiothoracic surgery • Ticagrelor market share growing – currently 40-50% in US • 1 in 5 cardiac surgeries is urgent or emergent.
Slide 6: CytoSorb and COVID-19
CytoSorb and COVID-19 • CytoSorb has now been used to treat 750+ critically-ill COVID-19 patients in Italy, China, Germany, U.S. and other countries, resulting in preliminary positive reports of: • Reduction of cytokine storm and inflammatory mediators such as IL-6, ferritin, CRP, and others • Impro
Slide 7: Q1 2020 Financial Highlights
Q1 2020 Financial Highlights
Slide 8: Comparative Quarterly Revenue Results
Comparative Quarterly Revenue Results Quarter Ended Quarter Ended Mar 31, 2020 Mar 31, 2019 % Incr. Product revenue $8,155,969 $4,576,579 78.2% Grant and other income 551,341 615,050 (10.4)% Total revenue $8,707,310 $5,191,629 67.7% • Product sales for Q1 2020 increased by $3.6M, or 78.2%, to $8.2M
Slide 9: Quarterly Product Sales
$0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $176,098 $127,969 $203,561 $314,159 $569,243 $663,233 $1,031,761 $871,150 $703,658 $773,112 $1,071,459 $1,495,590 CytoSorb® Product Sales $1,597,449 $1,852,670 $2,143,116 $2,612,801 Quarterly Product Sales $2,
Slide 10: TTM Historical Product Sales & Blended Gross Margin
TTM Historical Product Sales & Blended Gross Margin Product sales and gross margin continues to grow over the years $30,000,000 80% $26,345,244 78% $25,000,000 76% $20,395,666 74% $20,000,000 72% $15,219,016 $15,000,000 70% 68% $9,204,720 $10,000,000 66% $4,937,610 64% $5,000,000 $3,269,802 62% $0 6
Slide 11: Working Capital and Cap Table
Working Capital and Cap Table Working Capital as of 3/31/2020 12/31/2019 9/30/2019 6/30/2019 3/31/2019 12/31/2018 12/31/2017 Current Assets: Cash and short-term investments $26,389 $12,232 $15,978 $16,342 $19,647 $22,369 $ 17,322 Grants and accounts receivable, net 5,396 4,580 3,448 3,450 3,267 3,94
Slide 12: 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, with strength in our core business and global demand for CytoSorb to treat COVID-19 patients, and ou
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