News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

CytoSorbents Release: CytoSorb Q3 2016 Sales Reach Record $2.14M, Doubling From A Year Ago



11/9/2016 11:07:09 AM

  Life Sciences Jobs  
  • Newest Jobs - Last 24 Hours
  • California Jobs
  • Massachusetts Jobs
  • New Jersey Jobs
  • Maryland Jobs
  • Washington Jobs
  View More Jobs
MONMOUTH JUNCTION, N.J., Nov. 7, 2016 /PRNewswire/ -- CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy leader commercializing its flagship CytoSorb® cytokine adsorber to prevent or treat deadly inflammation and organ failure in critically-ill and cardiac surgery patients around the world, reports financial and operational results for the quarter ending September 30, 2016.

Third Quarter 2016 Financial Highlights:

CytoSorb® product sales for Q3 2016 were a record $2.14 million. This represented an increase of approximately 100% over Q3 2015 product sales of $1.07 million, as a result of strong increases in both direct and distributor sales

Q3 2016 annualized product sales run rate was approximately $8.6 million, as compared to an annualized product sales run rate of approximately $4.3 million in the third quarter of 2015

Total revenue for Q3 2016 was $2.4 million, which includes both product sales and grant revenue

Overall gross margins rose to approximately $1.4 million, an increase of approximately $0.7 million compared to approximately $0.7 million in Q3 2015

Product gross margins for Q3 2016 were approximately 68% compared to approximately 63% for Q3 2015

This represents the fifth consecutive quarter of record product sales and sixth consecutive quarter of sales growth

Read at BioSpace.com


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES