Cytosorbents Corporation · NASDAQ:CTSO
Cytosorbents — Q2 2018 Earnings Presentation
13 slides from Cytosorbents's earnings presentation, Aug 2, 2018
Slide 1: CytoSorbents Corporation Q2 2018 Earnings Conference Call
CytoSorbents Corporation (NASDAQ: CTSO) A Leader in Critical Care Immunotherapy Q2 2018 Earnings Conference Call August 2, 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 • 46,000+ CytoSorb treatments delivered, from 27,000 a year ago • Record trailing 12-month total revenue of $19.1M, including record 12-month product sales of $17.4M with a mix of strong direct and distributor/partner activity • Well-capitalized with a healthy cash balance of
Slide 5: Clinical Trial Update
Clinical Trial Update • REMOVE Endocarditis Trial (funded by German government) • 250 patient RCT: Safety and efficacy of CytoSorb to improve organ dysfunction when used intraoperatively during valve replacement for infective endocarditis • First patient in January, now with 40 patients at 6 centers
Slide 6: Financial Highlights
Financial Highlights med CVtOSorbents forking to Save Lives Through Blood Purification
Slide 7: Q2 2018 Comparative Revenue Results
Q2 2018 Comparative Revenue Results Quarter Ended Quarter Ended June 30, 2018 June 30, 2017 % Incr. Product revenue $ 5,245,555 $ 3,041,012 73% Grant and other income 509,883 525,214 (2)% Total revenue $ 5,755,438 $ 3,566,226 61% • Q2 2018 CytoSorb® sales were a record $5.2M, a 73% increase over $3.
Slide 8: Comparative 6-Month Revenue Results
Comparative 6-Month Revenue Results 6 Months Ended 6 Months Ended June 30, 2018 June 30, 2017 % Incr. Product revenue $9,678,852 $5,637,145 72% Grant and other income $1,001,239 $1,042,599 (4)% Total revenue $10,680,091 $ 6,679,744 60% • CytoSorb® product sales for 1H 2018 were $9.7M, a 72% increase
Slide 9: Quarterly Product Sales
Quarterly Product Sales Have achieved 24 consecutive quarters of year-over-year quarterly growth $5,245,555 $5,000,000 $4,433,296 $4,296,047 $4,000,000 $3,448,661 $3,041,012 $3,000,000 $2,612,801 $2,596,133 $2,143,116 $2,000,000 $1,852,670 $1,597,449 $1,495,590 $1,071,459 $1,031,761 $871,150 $1,000,
Slide 10: Trailing Twelve Month Product Sales
$18,000,000 $17,423,559 Trailing Twelve Month Product Sales $16,000,000 $14,000,000 Trend Line $12,000,000 $10,393,062 Product Sales $10,000,000 $8,000,000 $6,017,168 $6,000,000 $4,000,000 $3,379,681 $1,750,196 $2,000,000 $- Q2 2014 Q2 2015 Q2 2016 Q2 2017 Q2 2018 Twelve Months Ended 10
Slide 11: Working Capital and Cap Table
Working Capital and Cap Table Working Capital as of 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 $25,282 21,090 $ 17,322 $ 5,245 $ 7,509 $ 5,550 Grants and accounts receivable, net 2,903 2,352 2,206 1,433 649 819 Inventories 769 680 796 834 1,
Slide 12: Guidance
Guidance • We expect 2H 2018 CytoSorb sales will exceed 1H 2018 CytoSorb 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 (currentl
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