Cytosorbents ( (CTSO) ) has shared an update.
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CytoSorbents Corporation successfully closed an oversubscribed rights offering, raising $6.25 million in aggregate gross proceeds, which satisfies a debt covenant, unlocking $5 million in restricted cash. This financial maneuver significantly strengthens the company’s balance sheet, increasing liquidity by approximately $10.8 million, and supports their ongoing innovation and expansion efforts, particularly in pursuing U.S. and Canadian regulatory approval for DrugSorb-ATR.
More about Cytosorbents
CytoSorbents Corporation is a leader in the treatment of life-threatening conditions in intensive care units and cardiac surgery through blood purification technologies. The company’s products, including CytoSorb®, utilize biocompatible polymer beads to remove toxic substances from blood and bodily fluids to treat conditions like sepsis, liver failure, and during cardiac surgeries. CytoSorbents operates internationally and is working toward regulatory approval for its devices in the U.S. and Canada.
YTD Price Performance: 1.85%
Average Trading Volume: 265,237
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $51.41M
For detailed information about CTSO stock, go to TipRanks’ Stock Analysis page.
