CTSO Stock: Why The Price Increased Today

By Amit Chowdhry ● Oct 20, 2021
  • The stock price of Cytosorbents Corp (NASDAQ: CTSO) increased by over 6% pre-market today. This is why it happened.

The stock price of Cytosorbents Corp (NASDAQ: CTSO) – a leader in the treatment of life-threatening conditions in intensive care and cardiac surgery using CytoSorb blood purification – increased by over 6% pre-market today. Investors are responding positively to CytoSorbents making additional comments on the investigator-initiated REMOVE study following the formal presentation of trial results on Saturday, October 16th at the European Association for Cardio-Thoracic Surgery (EACTS) annual meeting in Barcelona, Spain.

This presentation adds to the information that is made publicly available by the preliminary data abstract at EACTS for the REMOVE (“Revealing Mechanisms and Investigating Efficiency Of Hemoadsorption for Prevention of Vasodilatory Shock in Cardiac Surgery Patients with Infective Endocarditis”) investigator-initiated, randomized, controlled trial, and commented upon on October 7, 2021. This presentation by REMOVE Study Director, Dr. med. Mahmoud Diab, from University Hospital Jena, Germany included additional patient demographic and adverse event data from the study. And no study population subgroup analyses were reported. 

Dr. Diab commented on safety and concluded that there was “no signal for harm due to the use of CytoSorb in patients undergoing surgery for infective endocarditis.”

KEY QUOTES:

“The REMOVE topline results presented at the EACTS meeting contribute significant and valuable information on the intraoperative use of CytoSorb in patients undergoing valve replacement surgery for infective endocarditis. Although the pre-specified primary outcome of the study was neutral, we demonstrated CytoSorb’s ability to reduce cytokines. In addition, REMOVE also suggests that the use of CytoSorb in this setting is safe, with a similar adverse event profile to standard of care therapy. Even though our data suggest that the intraoperative use of CytoSorb in a general endocarditis patient population may not be helpful, it is also not harmful, and it is conceivable that specific patient types may benefit from the therapy’s ability to lower cytokine levels. We plan to work collaboratively with CytoSorbents to perform additional exploratory analyses of the REMOVE data to better characterize and identify the best populations to be included in future studies. We are pleased with CytoSorbents’ continued commitment to high quality evidence generation in cardiac surgery.”

— Professor Dr. med. Torsten Doenst, Head of the Cardiothoracic Surgery Department, University Hospital Jena, Germany, and coordinating center of the REMOVE study

“We want to congratulate the REMOVE investigators who executed this important trial. We are encouraged that the intraoperative use of CytoSorb during cardiothoracic surgery had a favorable adverse event profile in this large randomized, controlled trial and that it reduced cytokines, validating CytoSorb’s mechanism of action. Taking all evidence into account, we continue to believe that CytoSorb treatment of select endocarditis patients with high acuity of illness may provide clinical benefits, such as improved hemodynamic stabilization, especially when use of the therapy is extended postoperatively. We look forward to our continued collaboration with Professor Doenst and his investigative team to better understand and analyze the results from the REMOVE trial to inform the design of future potential studies using CytoSorb in more specific infective endocarditis populations. Importantly, the accumulating evidence of promising safety with intraoperative CytoSorb use during cardiothoracic surgery, including both studies presented at the recent EACTS conference, bodes very well for our U.S. FDA-approved clinical programs in cardiac surgery investigating intraoperative use of CytoSorbents’ technology in additional indications, specifically the REFRESH 2-AKI, STAR-T, and STAR-D pivotal studies.”

— Dr. Efthymios N. Deliargyris, Chief Medical Officer of CytoSorbents

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