Cytosorbents Corp. (NASDAQ: CTSO), a critical care-focused immunotherapy company engaged in the research, development, and commercialization of medical devices, most prominently its platform blood purification technology that incorporates a proprietary adsorbent polymer technology, recently pre-announced unaudited results (http://dtn.fm/bKG3F) for fiscal 2016 ahead of its Form 10-K filing.
Cytosorbents expects to announce between $8.1 and $8.3 million in Cytosorb sales for the whole of 2016. This equates to more than double the total from the previous year. Cytosorb is the company’s flagship product, a blood filter that helps treat deadly inflammation in critically-ill and cardiac surgery patients across the globe.
In addition to this, the company predicts product sales for the fourth quarter of 2016 to range between $2.5 and $2.7 million, compared to just $1.5 million during the fourth quarter of 2015. This will take Cytosorbents to its sixth consecutive quarter reporting record sales, with the result representing a 20% increase as compared to the third quarter of 2016.
Cytosorbents Corp. had its ‘Buy’ rating reaffirmed by equities and research analysts at HC Wainwright, B. Riley, Maxim Group, Brean Capital, and Aegis Capital Corp., all according to Daily Quint (http://dtn.fm/80qqY). Currently, the consensus target price for the company is $15.05 per share. Not only this, Advisor Group, Inc. raised its position in Cytosorbents’ stock by over 1% during the third quarter, giving it ownership of 1.20% of the company’s stock worth over $1.9 million.
Cytosorbents Corp. also announced that it is expanding its partnership with Fresenius Medical Care (FMC) (http://dtn.fm/biF1L), the world’s largest dialysis company, increasing the commitment to a three-year renewal and a guaranteed minimum order of Cytosorb. The expansion also includes the addition of a new co-marketing agreement for worldwide Cytosorb markets.
For more information, visit www.Cytosorbents.com
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