CytoSorbents Corporation reported its financial results for the second quarter of 2025, revealing a total revenue of $9.6 million, an increase of 8.8% from $8.8 million in the same period last year. For the first half of 2025, the company generated $18.3 million in revenue, marking a 2.9% increase compared to $17.8 million in the first half of 2024. The gross profit for the six months ended June 30, 2025, was approximately $13.0 million, down 2.7% from $13.4 million in the prior year, resulting in a gross margin of 71%, compared to 75% in the previous year. The company reported a loss from operations of $7.5 million for the first half of 2025, an improvement from a loss of $8.2 million in the same period last year.
The company’s operational expenses decreased by 5% year-over-year, contributing to the reduced loss from operations. Research and development expenses fell to $2.9 million from $3.8 million, primarily due to the completion of clinical trials. Selling, general, and administrative expenses also saw a slight decline, totaling $17.6 million compared to $17.8 million in the previous year. Notably, CytoSorbents experienced a significant gain of $9.2 million from foreign currency transactions, a stark contrast to a loss of $2.0 million in the prior year, attributed to favorable exchange rate movements.
In terms of strategic developments, CytoSorbents completed a rights offering in January 2025, raising $5.4 million in net proceeds, which helped strengthen its balance sheet. The company also appointed Thomas Shannon as Vice President of Marketing for North America and Melanie Grossman as Vice President and Corporate Controller, aiming to enhance its marketing strategy and operational efficiency. Additionally, the company is actively pursuing regulatory approvals for its DrugSorb-ATR device, which is intended to address perioperative bleeding in high-risk surgeries.
As of June 30, 2025, CytoSorbents had total assets of approximately $48.0 million, with current assets of $23.0 million and current liabilities of $9.8 million. The company reported cash and cash equivalents of $11.7 million, raising concerns about its ability to continue as a going concern. The company is exploring various financing options, including public or private equity offerings and debt financing, to support its operations and growth initiatives. The outlook for the remainder of 2025 remains cautious, with expectations for regulatory decisions regarding DrugSorb-ATR and continued efforts to expand its customer base and sales force.
About Cytosorbents Corp
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