CytoSorbents Reports Third Quarter 2024 Financial and Operational Results
CTSO 11.07.2024
Drug:ticagrelor-AstraZeneca Brilinta
Diseases:acute coronary syndromes
About Gravity Analytica
Third Quarter 2024 Financial Results
- Product revenue of
$8.6 million , 11% growth versus$7.8 million in Q3 2023 - Total revenue of
$9.4 million inclusive of product and grant revenue, 7% growth versus$8.8 million in Q3 2023 - Product gross margins decreased to 61%, compared to 72% in Q3 2023, reflecting the impact of a planned production slowdown to rebalance inventory and a short-term manufacturing issue that is now resolved
- Net loss of
$2.3 million or$0.04 per share, compared to net loss of$9.2 million or$0.21 per share in Q3 2023 - Adjusted net loss improved to
$4.5 million or$0.08 per share, compared to an adjusted net loss of$6.0 million or$0.14 per share in Q3 2023 - Adjusted EBITDA loss improved to
$3.6 million compared to a loss of$5.6 million in Q3 2023 - Total cash, including cash, cash equivalents, and restricted cash of
$12.2 million , compared to$14.9 million at the end of Q2 2024, reflecting an improvement of cash used in the quarter of$2.7 million compared to$5.0 million used in Q2 2024
“I am pleased with the progress we made this quarter. Our topline performance is a testament to the improving strength of our critical care and cardiac surgery businesses, driven by solid execution from our direct sales team and distributor network. In addition, our manufacturing is now running smoothly with an expected return to more normalized production levels and product gross margins in the fourth quarter of this year.” statedDr.
Advancing Our DrugSorb-ATR Regulatory and Commercial Strategy
- Submitted our DrugSorb-ATR De Novo application to the
U.S. FDA onSeptember 27, 2024 , and announced FDA acceptance and initiation of substantive review of our application onOctober 22, 2024 , which is also eligible for priority review based on FDA Breakthrough Device Designation - Received Medical Device Single Audit Program (MDSAP) certification on
November 1, 2024 , a key regulatory milestone that certifies compliance of our quality management system with the standard regulatory requirements ofCanada , theU.S. ,Brazil ,Japan , andAustralia . Importantly,U.S. FDA accepts MDSAP certification and audit reports in lieu of their own routine Agency inspections, if required - Submitted our Medical Device License (MDL) marketing application to
Health Canada onNovember 1, 2024 , concurrent with MDSAP certification – a requirement for submission
The potential North American DrugSorb-ATR total addressable market (TAM) in patients undergoing CABG surgery on Brilinta®currently exceeds an estimated
Although these are certainly large markets, be assured that we have had years of both manufacturing and commercialization experience in our core international markets and are actively preparing to leverage this experience for our expected North American launch.”
About DrugSorb-ATRThe goal of DrugSorb-ATR, an investigational medical device, is to reduce the severity of perioperative bleeding in patients on ticagrelor (Brilinta®, AstraZeneca) undergoing coronary artery bypass graft (CABG) surgery. Ticagrelor is a blood thinning drug frequently administered in the hospital to patients suffering a heart attack. If patients are not eligible for a coronary stent, they will often require CABG surgery to restore blood flow to heart muscle. Current guidelines recommend the delay of surgery by three to five days to allow “washout” or natural elimination of the drug to reduce the high risk of serious and potentially fatal perioperative bleeding from the use of the blood thinner. We believe that DrugSorb-ATR represents a breakthrough solution that will allow patients to proceed with their much-needed CABG surgery in a safe and timely manner rather than risking serious, potentially life-threatening complications and consuming costly hospital resources while waiting in the hospital for multiple days for ticagrelor to be naturally eliminated from their system.
Q3 2024 Earnings Conference CallThe Company will conduct its third quarter 2024 results call today at
About Non-GAAP Financial MeasuresTo supplement our condensed consolidated financial statements, we use the non-GAAP financial measures of EBITDA, which measures earnings before interest, income taxes, depreciation and amortization, and Adjusted EBITDA which further excludes non-cash stock compensation expense, and gain or loss of foreign exchange translation. We also use the non-GAAP financial measures of Adjusted Net Income or Loss and Adjusted Net Income or Loss Per Common Share which excludes non-cash stock compensation expense and gain or loss of foreign exchange translation from Net Loss and Net Loss Per Common Share, respectively. These non-GAAP measures are not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures should be read in conjunction with our financial statements prepared in accordance with GAAP. The reconciliations of the non-GAAP measures to the most directly comparable financial measures calculated and presented in accordance with GAAP should be carefully evaluated. We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. We believe that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting, and analyzing future periods. We believe these non-GAAP financial measures are useful to investors because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) they are used by investors and the analyst community to help them analyze the performance of our business, the Company’s cash available for operations, and the Company’s ability to meet future capital expenditure and working capital requirements.
About
CytoSorbents’ lead product,CytoSorb®, is approved in the European Union and distributed in 76 countries worldwide, with more than a quarter million devices used cumulatively to date. CytoSorb was originally launched in the European Union under CE mark as the first cytokine adsorber. Additional CE mark extensions were granted for bilirubin and myoglobin removal in clinical conditions such as liver disease and trauma, respectively, and forticagrelorandrivaroxabanremoval in cardiothoracic surgery procedures. CytoSorb has also receivedFDA Emergency Use Authorizationin the United States for use in adult critically ill COVID-19 patients with impending or confirmed respiratory failure, to reduce pro-inflammatory cytokine levels. CytoSorb is not yet approved in the United States.
In the
The Company has numerous marketed products and products under development based upon this unique blood purification technology protected by many issued U.S. and international patents and registered trademarks, and multiple patent applications pending, including ECOS-300CY®, CytoSorb-XLTM, HemoDefend-RBCTM, HemoDefend-BGATM, VetResQ®, K+ontrolTM, DrugSorbTM, ContrastSorb, and others. For more information, please visit the Company’s website athttps://ir.cytosorbents.com/or follow us onFacebookandX.
Forward-Looking StatementsThis press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about our plans, objectives, future targets and outlooks for our business, representations and contentions, and the outcome of our regulatory submissions, and are not historical facts and typically are identified by use of terms such as “may,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue” and similar words, although some forward-looking statements are expressed differently. You should be aware that the forward-looking statements in this press release represent management’s current judgment and expectations, but our actual results, events and performance could differ materially from those in the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, the risks discussed in our Annual Report on Form 10-K, filed with the
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| 2024 | |||||||
| (Unaudited) | 2023 | ||||||
| ASSETS | |||||||
| Current Assets: | |||||||
| Cash and cash equivalents | $ | 5,685,328 | $ | 14,131,137 | |||
| Grants and accounts receivable, net of allowance of | 6,632,590 | 6,057,072 | |||||
| Inventories | 3,247,756 | 3,680,129 | |||||
| Prepaid expenses and other current assets | 1,031,694 | 1,834,485 | |||||
| Total current assets | 16,597,368 | 25,702,823 | |||||
| Property and equipment, net | 9,269,899 | 10,056,354 | |||||
| Restricted cash | 6,483,958 | 1,483,958 | |||||
| Right-of-use assets | 11,651,563 | 12,058,896 | |||||
| Other assets | 3,801,223 | 3,958,603 | |||||
| Total Assets | $ | 47,804,011 | $ | 53,260,634 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current Liabilities: | |||||||
| Accounts payable | $ | 2,338,143 | $ | 3,802,170 | |||
| Current maturities of long-term debt | --- | 2,500,000 | |||||
| Lease liability – current portion | 431,997 | 373,636 | |||||
| Accrued expenses and other current liabilities | 5,660,051 | 7,870,149 | |||||
| Total current liabilities | 8,430,191 | 14,545,955 | |||||
| Lease liability, net of current portion | 12,568,745 | 12,896,659 | |||||
| Long-term debt | 13,805,985 | 2,542,857 | |||||
| Total Liabilities | 34,804,921 | 29,985,471 | |||||
| Commitments and Contingencies (Note 6) | |||||||
| Stockholders’ Equity: | |||||||
| Preferred Stock, Par Value | — | — | |||||
| Common Stock, Par Value | 54,498 | 54,240 | |||||
| Additional paid-in capital | 308,441,887 | 305,196,874 | |||||
| Accumulated other comprehensive income | (156,925 | ) | 529,321 | ||||
| Accumulated deficit | (295,340,370 | ) | (282,505,272 | ) | |||
| Total Stockholders’ Equity | 12,999,090 | 23,275,163 | |||||
| Total Liabilities and Stockholders’ Equity | $ | 47,804,011 | $ | 53,260,634 | |||
See accompanying notes to consolidated financial statements.
| Three months ended | Nine months ended | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||
| Revenue: | |||||||||||||||
| CytoSorb sales | $ | 8,586,274 | $ | 7,709,085 | $ | 26,381,455 | $ | 23,681,183 | |||||||
| Other product sales | 26,521 | 44,931 | 62,649 | 55,285 | |||||||||||
| Total product sales | 8,612,795 | 7,754,016 | 26,444,104 | 23,736,468 | |||||||||||
| Grant income | 777,593 | 1,056,831 | 2,627,212 | 3,944,696 | |||||||||||
| Total revenue | 9,390,388 | 8,810,847 | 29,071,316 | 27,681,164 | |||||||||||
| Cost of revenue | 4,108,773 | 3,203,981 | 10,716,394 | 10,600,421 | |||||||||||
| Gross profit | 5,281,615 | 5,606,866 | 18,354,922 | 17,080,743 | |||||||||||
| Other expenses: | |||||||||||||||
| Research and development | 1,851,230 | 3,749,197 | 5,619,040 | 11,632,416 | |||||||||||
| Legal, financial and other consulting | 823,914 | 1,103,475 | 2,325,351 | 2,957,738 | |||||||||||
| Selling, general and administrative | 7,002,718 | 8,104,392 | 23,151,118 | 24,358,417 | |||||||||||
| Total expenses | 9,677,862 | 12,957,064 | 31,095,509 | 38,948,571 | |||||||||||
| Loss from operations | (4,396,247 | ) | (7,350,198 | ) | (12,740,587 | ) | (21,867,828 | ) | |||||||
| Other income (expense): | |||||||||||||||
| Interest income (expense), net | (588,153 | ) | (33,670 | ) | (774,903 | ) | (105,662 | ) | |||||||
| Gain (loss) on foreign currency transactions | 2,650,309 | (1,809,652 | ) | 680,392 | (733,997 | ) | |||||||||
| Miscellaneous income (expense) | — | — | — | 35,000 | |||||||||||
| Total other income (expense), net | 2,062,156 | (1,843,322 | ) | (94,511 | ) | (804,659 | ) | ||||||||
| Loss before benefit from income taxes | (2,334,091 | ) | (9,193,520 | ) | (12,835,098 | ) | (22,672,487 | ) | |||||||
| Benefit from income taxes | — | — | — | — | |||||||||||
| Net loss attributable to common stockholders | $ | (2,334,091 | ) | $ | (9,193,520 | ) | $ | (12,835,098 | ) | $ | (22,672,487 | ) | |||
| Basic and diluted net loss per common share | $ | (0.04 | ) | $ | (0.21 | ) | $ | (0.24 | ) | $ | (0.52 | ) | |||
| Weighted average number of shares of common stock outstanding | 54,453,006 | 44,373,969 | 54,340,583 | 44,024,483 | |||||||||||
| Net loss | $ | (2,334,091 | ) | $ | (9,193,520 | ) | $ | (12,835,098 | ) | $ | (22,672,487 | ) | |||
| Other comprehensive income (loss): | |||||||||||||||
| Foreign currency translation adjustment | (2,330,743 | ) | 1,655,674 | (686,246 | ) | 654,792 | |||||||||
| Comprehensive loss | $ | (4,664,834 | ) | $ | (7,537,846 | ) | $ | (13,521,344 | ) | $ | (22,017,695 | ) | |||
See accompanying notes to consolidated financial statements.
| Accumulated | ||||||||||||||||||||
| Additional | Other | |||||||||||||||||||
| Common Stock | Paid-In | Comprehensive | Accumulated | Stockholders’ | ||||||||||||||||
| Shares | Par value | Capital | Income (Loss) | Deficit | Equity | |||||||||||||||
| Balance at | 54,306,415 | $ | 54,306 | $ | 307,514,758 | $ | 2,173,818 | $ | (293,006,279 | ) | $ | 16,736,603 | ||||||||
| Stock-based compensation - employees, consultants and directors | — | — | 781,881 | — | — | 781,881 | ||||||||||||||
| Other comprehensive loss: foreign translation adjustment | — | — | — | (2,330,743 | ) | — | (2,330,743 | ) | ||||||||||||
| ATM Activation Fees | — | — | (41,444 | ) | — | — | (41,444 | ) | ||||||||||||
| Issuance of restricted stock units | 194,198 | 192 | 186,692 | — | — | 186,884 | ||||||||||||||
| Net loss | — | — | — | — | (2,334,091 | ) | (2,334,091 | ) | ||||||||||||
| Balance at | 54,500,613 | $ | 54,498 | $ | 308,441,887 | $ | (156,925 | ) | $ | (295,340,370 | ) | $ | 12,999,090 | |||||||
| Balance at | 54,240,265 | $ | 54,240 | $ | 305,196,874 | $ | 529,321 | $ | (282,505,272 | ) | $ | 23,275,163 | ||||||||
| Stock-based compensation - employees, consultants and directors | — | — | 2,344,671 | — | — | 2,344,671 | ||||||||||||||
| Other comprehensive loss: foreign translation adjustment | — | — | — | (686,246 | ) | — | (686,246 | ) | ||||||||||||
| Issuance of common stock offerings, net of fees | 53,290 | 53 | 11,741 | — | — | 11,794 | ||||||||||||||
| Warrants Issued in connection with long term debt | — | — | 690,709 | — | — | 690,709 | ||||||||||||||
| Issuance of restricted stock units | 207,058 | 205 | 197,892 | — | — | 198,097 | ||||||||||||||
| Net loss | — | — | — | — | (12,835,098 | ) | (12,835,098 | ) | ||||||||||||
| Balance at | 54,500,613 | $ | 54,498 | $ | 308,441,887 | $ | (156,925 | ) | $ | (295,340,370 | ) | $ | 12,999,090 | |||||||
| Accumulated | ||||||||||||||||||||
| Additional | Other | |||||||||||||||||||
| Common Stock | Paid-In | Comprehensive | Accumulated | Stockholders’ | ||||||||||||||||
| Shares | Par value | Capital | Income (Loss) | Deficit | Equity | |||||||||||||||
| Balance at | 44,193,696 | $ | 44,193 | $ | 290,199,035 | $ | 1,328,313 | $ | (267,476,845 | ) | $ | 24,094,696 | ||||||||
| Stock-based compensation - employees, consultants and directors | — | — | 1,086,163 | — | — | 1,086,163 | ||||||||||||||
| Other comprehensive loss: foreign translation adjustment | — | — | — | 1,655,674 | — | 1,655,674 | ||||||||||||||
| Issuance of common stock offerings, net of fees | 162,078 | 162 | 632,232 | — | — | 632,394 | ||||||||||||||
| Proceeds from exercise of stock options for cash | 7,962 | 9 | 15,920 | — | — | 15,929 | ||||||||||||||
| Issuance of restricted stock units | 74,773 | 75 | 220,211 | — | — | 220,286 | ||||||||||||||
| Net loss | — | — | — | — | (9,193,520 | ) | (9,193,520 | ) | ||||||||||||
| Balance at | 44,438,509 | $ | 44,439 | $ | 292,153,561 | $ | 2,983,987 | $ | (276,670,365 | ) | $ | 18,511,622 | ||||||||
| Balance at | 43,635,715 | $ | 43,635 | $ | 287,000,021 | $ | 2,329,195 | $ | (253,997,878 | ) | $ | 35,374,973 | ||||||||
| Stock-based compensation - employees, consultants and directors | — | — | 2,486,679 | — | — | 2,486,679 | ||||||||||||||
| Other comprehensive income: foreign translation adjustment | — | — | — | 654,792 | — | 654,792 | ||||||||||||||
| Issuance of common stock offerings, net of fees | 590,348 | 591 | 2,106,528 | — | — | 2,107,119 | ||||||||||||||
| Proceeds from exercise of stock options for cash | 82,355 | 83 | 213,224 | — | — | 213,307 | ||||||||||||||
| Issuance of restricted stock units | 130,091 | 130 | 403,811 | — | — | 403,941 | ||||||||||||||
| Legal/audit fees related to ATM offering | — | — | (56,702 | ) | — | — | (56,702 | ) | ||||||||||||
| Net loss | — | — | — | — | (22,672,487 | ) | (22,672,487 | ) | ||||||||||||
| Balance at | 44,438,509 | $ | 44,439 | $ | 292,153,561 | $ | 2,983,987 | $ | (276,670,365 | ) | $ | 18,511,622 | ||||||||
See accompanying notes to consolidated financial statements.
| Three Months Ended | Nine Months Ended | ||||||||||||||
| Sep30, | Sep30, | Sep30, | Sep30, | ||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| (In thousands, except per share amounts) | |||||||||||||||
| Netloss | $ | (2,334 | ) | $ | (9,194 | ) | $ | (12,835 | ) | $ | (22,672 | ) | |||
| Depreciation and amortization expense | 381 | 402 | 1,180 | 1,062 | |||||||||||
| Income tax expense (benefit) | -- | -- | -- | -- | |||||||||||
| Interest expense (income) | 588 | 34 | 775 | 106 | |||||||||||
| EBITDA-nonGAAP | $ | (1,365 | ) | $ | (8,758 | ) | $ | (10,880 | ) | $ | (21,505 | ) | |||
| Non cash stock-based compensation expense | 458 | 1,372 | 2,220 | 2,667 | |||||||||||
| (Gain)/Loss on foreign currency translation | (2,650 | ) | 1,810 | (680 | ) | 734 | |||||||||
| AdjustedEBITDA-nonGAAP | $ | (3,557 | ) | $ | (5,576 | ) | $ | (9,341 | ) | $ | (18,103 | ) | |||
| Netloss | $ | (2,334 | ) | $ | (9,194 | ) | $ | (12,835 | ) | $ | (22,672 | ) | |||
| Non cash stock-based compensation expense | 458 | 1,372 | 2,220 | 2,667 | |||||||||||
| (Gain)/Loss on foreign currency translation | (2,650 | ) | 1,810 | (680 | ) | 734 | |||||||||
| Adjustednetincome(loss)-nonGAAP | $ | (4,526 | ) | $ | (6,012 | ) | $ | (11,296 | ) | $ | (19,271 | ) | |||
| Weightedaveragecommonsharesoutstandingbasicand diluted | 54,453,006 | 44,373,969 | 54,340,583 | 44,024,483 | |||||||||||
| Losspercommonshare—basicanddiluted | $ | (0.04 | ) | $ | (0.21 | ) | $ | (0.24 | ) | $ | (0.52 | ) | |||
| Non cash stock-based compensation expense | $ | 0.01 | $ | 0.03 | $ | 0.04 | $ | 0.06 | |||||||
| (Gain)/Loss on foreign currency translation | $ | (0.05 | ) | $ | 0.04 | $ | (0.01 | ) | $ | 0.02 | |||||
| Adjustednet income(loss) percommon share- basicand | |||||||||||||||
| diluted-nonGAAP | $ | (0.08 | ) | $ | (0.14 | ) | $ | (0.21 | ) | $ | (0.45 | ) | |||
| Sep30, | Full Year | ||||||||||||||
| 2023 | 2023 | 2023 | 2023 | 2023 | |||||||||||
| (In thousands, except per share amounts) | |||||||||||||||
| Netloss | $ | (7,326 | ) | $ | (6,153 | ) | $ | (9,194 | ) | $ | (5,835 | ) | $ | (28,507 | ) |
| Depreciation and amortization expense | 258 | 402 | 402 | 397 | 1,459 | ||||||||||
| Income tax expense (benefit) | -- | -- | -- | (814 | ) | (814 | ) | ||||||||
| Interest expense (income) | 63 | 9 | 34 | 52 | 158 | ||||||||||
| EBITDA-nonGAAP | $ | (7,005 | ) | $ | (5,742 | ) | $ | (8,758 | ) | $ | (6,200 | ) | $ | (27,704 | ) |
| Non cash stock-based compensation expense | 1,080 | 215 | 1,372 | 1,053 | 3,720 | ||||||||||
| (Gain)/Loss on foreign currency translation | (661 | ) | (415 | ) | 1,810 | (2,683 | ) | (1,949 | ) | ||||||
| AdjustedEBITDA-nonGAAP | $ | (6,585 | ) | $ | (5,942 | ) | $ | (5,576 | ) | $ | (7,830 | ) | $ | (25,933 | ) |
| Netloss | $ | (7,326 | ) | $ | (6,153 | ) | $ | (9,194 | ) | $ | (5,835 | ) | $ | (28,507 | ) |
| Non cash stock-based compensation expense | 1,080 | 215 | 1,372 | 1,053 | 3,720 | ||||||||||
| (Gain)/Loss on foreign currency translation | (661 | ) | (415 | ) | 1,810 | (2,683 | ) | (1,949 | ) | ||||||
| Adjustednetincome(loss)-nonGAAP | $ | (6,906 | ) | $ | (6,354 | ) | $ | (6,012 | ) | $ | (7,465 | ) | $ | (26,736 | ) |
| Weightedaveragecommonsharesoutstandingbasicand diluted | 43,676,435 | 44,015,380 | 44,373,969 | 46,531,510 | 44,656,391 | ||||||||||
| Losspercommonshare—basicanddiluted | $ | (0.17 | ) | $ | (0.14 | ) | $ | (0.21 | ) | $ | (0.13 | ) | $ | (0.64 | ) |
| Non cash stock-based compensation expense | $ | 0.02 | $ | 0.00 | $ | 0.03 | $ | 0.02 | $ | 0.08 | |||||
| (Gain)/Loss on foreign currency translation | $ | (0.02 | ) | $ | (0.01 | ) | $ | 0.04 | $ | (0.06 | ) | $ | (0.04 | ) | |
| Adjustednet income(loss) percommon share- basicand | |||||||||||||||
| diluted-nonGAAP | $ | (0.16 | ) | $ | (0.14 | ) | $ | (0.14 | ) | $ | (0.16 | ) | $ | (0.60 | ) |
| QTD ENDED | YTD ENDED | |||||||||||
| Sep30, | ||||||||||||
| 2024 | 2024 | 2024 | 2024 | |||||||||
| (In thousands, except per share amounts) | ||||||||||||
| Netloss | $ | (6,358 | ) | $ | (4,143 | ) | $ | (2,334 | ) | $ | (12,835 | ) |
| Depreciation and amortization expense | 396 | 403 | 381 | 1,180 | ||||||||
| Income tax expense (benefit) | -- | -- | -- | -- | ||||||||
| Interest expense (income) | 7 | 180 | 588 | 775 | ||||||||
| EBITDA-nonGAAP | $ | (5,955 | ) | $ | (3,560 | ) | $ | (1,365 | ) | $ | (10,880 | ) |
| Non cash stock-based compensation expense | 924 | 838 | 458 | 2,220 | ||||||||
| (Gain)/Loss on foreign currency translation | 1,426 | 544 | (2,650 | ) | (680 | ) | ||||||
| AdjustedEBITDA-nonGAAP | $ | (3,605 | ) | $ | (2,179 | ) | $ | (3,557 | ) | $ | (9,341 | ) |
| Netloss | $ | (6,358 | ) | $ | (4,143 | ) | $ | (2,334 | ) | $ | (12,835 | ) |
| Non cash stock-based compensation expense | 924 | 838 | 458 | 2,220 | ||||||||
| (Gain)/Loss on foreign currency translation | 1,426 | 544 | (2,650 | ) | (680 | ) | ||||||
| Adjustednetincome(loss)-nonGAAP | $ | (4,008 | ) | $ | (2,761 | ) | $ | (4,526 | ) | $ | (11,296 | ) |
| Weightedaveragecommonsharesoutstandingbasicand diluted | 54,262,790 | 54,306,041 | 54,453,006 | 54,340,583 | ||||||||
| Losspercommonshare—basicanddiluted | $ | (0.12 | ) | $ | (0.08 | ) | $ | (0.04 | ) | $ | (0.24 | ) |
| Non cash stock-based compensation expense | $ | 0.02 | $ | 0.02 | $ | 0.01 | $ | 0.04 | ||||
| (Gain)/Loss on foreign currency translation | $ | 0.03 | $ | 0.01 | $ | (0.05 | ) | $ | (0.01 | ) | ||
| Adjustednet income(loss) percommon share- basicand | ||||||||||||
| diluted-nonGAAP | $ | (0.07 | ) | $ | (0.05 | ) | $ | (0.08 | ) | $ | (0.21 | ) |
Source: CytoSorbents