Cytosorbents Corporation · NASDAQ:CTSO
Cytosorbents — Shareholder Meeting (June 2019)
27 slides from Cytosorbents's shareholder meeting presentation, Jun 5, 2019
Slide 1: A Leader in Critical Care Immunotherapy – Annual Meeting
Cyto Sorbents Corporation (NASDAQ: CTSO) A Leader in Critical Care Immunotherapy CytoSorbents Annual Meeting June 4, 2019
Slide 2: Safe Harbor Statement
Safe Harbor Statement 2 This presentation contains “forward - looking statements” pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 . Forward - looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply fu
Slide 3: CytoSorbents At a Glance
Cyto Sorbents At a Glance (NASDAQ: CTSO ) 3 • CytoSorb ® is E.U. approved as an extracorporeal cytokine adsorber with 61 ,000+ cumulative treatments (up from 40 ,000 a year ago) delivered and distributed in 55 countries • Record 2018 Financial Performance: • Healthy cash balance of $ 19.6 M ( 3 /3 1
Slide 4: CytoSorbents Strives to Maintain Best Practices
CytoSorbents Strives to Maintain Best Practices CytoSorbents is NASDAQ - traded with strong corporate governance practices driven by the Board of Directors and Management • Experienced team with deep manufacturing and medical device experience • Quality service providers • SEC Counsel: Morgan Lewis
Slide 5: Leadership Background
Leadership Background Phillip Chan, MD, PhD – Chief Executive Officer and President Former Partner at the $ 80 M NJTC Venture Fund, leading life science investments for 5 years . Co - founder of Andrew Technologies, commercializing its HydraSolve ™ lipoplasty device in the U . S . MD/PhD from Yale S
Slide 6: Board of Directors
Board of Directors Al Kraus – Chairman (Audit, Governance, Compensation Committees)* 25 + years leadership experience in the dialysis and medical device industries . Former CEO and Board director of CytoSorbents, NOvoVascular , Althin Medical, and former COO and U . S . Subsidiary Manager of Gambro,
Slide 7: a ra La
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Slide 8: Driving Growth and Liquidity
Kathleen Bloch, MBA, CPA Chief Financial Officer Driving Growth and Liquidity
Slide 9: Trailing Twelve Months Product Sales Trend Line
Trailing Twelve Months Product Sales Trend Line The annual product sales growth trajectory remains strong $1,214,932 $3,269,691 $4,937,610 $9,194,721 $15,219,016 $20,395,667 $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 Q1 2014 Q1 2015 Q12016 Q1 2017 Q1 2018 Q1 2019 Trailing Twelve Months Produc
Slide 10: Year Over Year Financial Progress
Year Over Year Financial Progress 2019 2018 2017 Growth Indicators : TTM Product Sales, March 31 $20,395,666 $15,219,016 $9,194,721 TTM Product Gross Margin $ , March 31 $15,028,169 $11,081,006 $6,259,281 TTM Product Gross Margin % , March 31 74% 73% 68% Liquidity Indicators : Cash and Cash Equivale
Slide 11: Working Capital Outlook
Working Capital Outlook • Our $19.6 million in cash at March 31, 2019 is expected to support our operating needs into 2020 • With our improving gross margins and continuing growth in product sales, we expect to reduce our cash burn in the future • The Company intends to refinance our $10M term loan
Slide 12: The Next Phase of Growth
The Next Phase of Growth Dr. Christian Steiner Senior VP of Sales and Marketing
Slide 13: Continuous Growth 2012 - 2019
Continuous Growth 2012 - 2019 0 2,500 5,000 7,500 10,000 12,500 15,000 17,500 20,000 22,500 Q1 2012 Q1 2013 Q1 2014 Q1 2015 Q1 2016 Q1 2017 Q1 2018 Q1 2019 Treatments trailing 12 months • > 850 users worldwide • > 61k treatments safely performed • > 33k patients treated • > 12k ICU pts . Incl Sepsis
Slide 14: Growth Catalysts in 2019 and Beyond
Growth Catalysts in 2019 and Beyond Growth: - Expand direct sales - Add major indications - Generate evidence - Reimbursement - Increase awareness Strengthen sales: - Add direct territories - Grow direct teams - Improve sales support - Develop sales partners Building clinical evidence: - Striving fo
Slide 15: Establishing CytoSorb as Standard of Care Through Clinical Data
Establishing CytoSorb as Standard of Care Through Clinical Data Dr. Eric Mortensen Chief Medical Officer
Slide 16: Cardiac Surgery: REFRESH Studies
• Heart disease is the leading killer worldwide, driving 1.5M open heart surgeries each year and fueled by the aging baby boomer generation • High risk invasive cardiac surgery generates inflammatory toxins (including free hemoglobin, cytokines and activated complement) that is associated with organ
Slide 17: Expanding Experience In Multiple Indications from Investigator Initiated Trials
Expanding Experience In Multiple Indications from Investigator Initiated Trials (IITs) in Europe/India 17 • Over 50 IITs in Europe targeting patients with s epsis , burn injury, cardiac surgery (intra and post - op), pancreatitis, cardiogenic shock, ECMO use, transplant • 22 studies registered in Cl
Slide 18: Investigator Studies Providing Foundation for US Development
• Investigator initiated studies in EU have provided incubator for assessment of treatment indications and potential study endpoints • Provides the foundation for development of registration pathway for reimbursable clinical indications • Growing list of Cytosorb EU publications generating requests
Slide 19: Partnerships
Partnerships Chris Cramer, MBA VP Business Development
Slide 20: CTSO Partnered With Four Leading Companies
CTSO is partnered with four of the world’s leading companies and maintains an active BD pipeline Device Companies in Acute Care Cardiac Surgery Pharma Companies in Acute Care Biotech / CAR T - Cell Technologies CytoSorbents Confidential 20
Slide 21: Recent Partner Developments
Recent Partner Developments 21 CytoSorbents Confidential Continuing to invest in market development in acute care and beyond • 10 person dedicated CytoSorb team; Robust & scientifically focused sales approach • Launched new initiative to accelerate growth in cardiac surgery field • Expanded CytoSorb
Slide 22: BD Pipeline Update
BD Pipeline Update • Interest levels from partners remains very high • Industry - wide M&A and new product launches are creating new partnership opportunities • Exploring new collaboration models to expand CTSO strategic partnership footprint • Clinical and commercial development driving partner int
Slide 23: Driving Growth Through Product Development, Regulatory, Engineering, and Operational Excellence
Driving Growth Through Product Development, Regulatory, Engineering, and Operational Excellence Vince Capponi – Chief Operating Officer
Slide 24: Product Development and Regulatory
Product Development and Regulatory • Product Development • Regulatory • New country registrations: Mexico, Korea, Israel, Kazakhstan • Label expansion: Cytokine → Bilirubin → Myoglobin → Next? • New product registration: New sorbent cartridge for organ preservation
Slide 25: Engineering and Operational Excellence
Engineering and Operational Excellence • Engineering • Operational Excellence • Phase II of Plant Expansion Initiated – Support $80MM Business • HemoDefend Polymer and Device Production established
Slide 26: Outlook and Goals for 2019
Despite some company specific issues and macro issues such as interest rates and prospects of a multi - country trade war that are causing near - term volatility, we continue to believe that the outlook is bright. Our goals for the remainder of this year are to: • Continue execution of product sales
Slide 27: Guidance
• We reiterate our guidance that Q2 2019 products sales will return to our historical growth trajectory and are anticipated to be the highest quarterly product sales reported in our history • We reiterate our guidance that we expect to achieve blended product gross margins of 80% on a quarterly basi