CytoSorbents Corporation · NASDAQ:CTSO
CytoSorbents — Q1 2019 Earnings Presentation
14 slides from CytoSorbents's earnings presentation, May 7, 2019
Slide 1: CytoSorbents Corporation Q1 2019 Earnings Conference Call
CytoSorbents Corporation (NASDAQ: CTSO) A Leader in Critical Care Immunotherapy Q1 2019 Earnings Conference Call May 7, 2019
Slide 2: Conference Call Participants
Conference Call Participants Dr. Phillip Chan, MD, PhD Chief Executive Officer and President Vincent Capponi, MS Chief Operating Officer Kathleen Bloch, MBA, CPA Chief Financial Officer Dr. Eric Mortensen, MD, PhD Chief Medical Officer Dr. Christian Steiner, MD Senior Vice President Sales and Market
Slide 3: Safe Harbor Statement
Safe Harbor Statement Statements in this presentation regarding CytoSorbents Corporation and its operating subsidiaries CytoSorbents Medical, Inc and CytoSorbents Europe GmbH that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actu
Slide 4: Operational Highlights
Operational Highlights • 61,000+ CytoSorb treatments delivered, up from 40,000 a year ago • Trailing 12-month total revenue, which includes product sales and grant income, increased to $22.8M, versus $17.0M a year ago • Well-capitalized with a healthy cash balance of $19.6M (3/31/19) • Q1 2019 produ
Slide 5: Operational Highlights
Operational Highlights • We believe the factors impacting distributor sales in Q1 2019 are short- term and specific to these 3 distributors and expect a resumption of ordering from all three over the next several quarters • Each of these distributors/partners has increased their commitment to sellin
Slide 6: CytoSorb Sales Are Expected to Increase
CytoSorb Sales Are Expected to Increase We continue to forecast strong 2019 revenue growth driven by: • Organic sales growth driven by continued clinical success • ROI from a larger, more focused direct sales team – particularly in Germany • Increase in international sales infrastructure to better s
Slide 7: Clinical Trial Update
Clinical Trial Update • U.S. REFRESH 2-AKI Pivotal Trial • 400 patient RCT PMA multi-center adaptive trial targeting reduction of post-op AKI using CytoSorb during complex cardiac surgery • Approximately 20% complete with 79 patients enrolled. 23 initiated clinical trial sites, with 6 additional sit
Slide 8: Financial Highlights
Financial Highlights med CVtOSorbents forking to Save Lives Through Blood Purification
Slide 9: Comparative Quarterly Revenue Results
Comparative Quarterly Revenue Results Quarter Ended Quarter Ended Mar 31, 2019 Mar 31, 2018 % Incr. Product revenue $4,576,579 $4,433,296 3.2% Grant and other income 615,050 491,355 25.2% Total revenue $5,191,629 $4,924,651 5.4% • Product sales for Q1 2019 increased by $143K, or 3.2%, to $4.6M as co
Slide 10: Quarterly Product Sales
Quarterly Product Sales Q2 2019 Product Sales are Expected to Return to Our Historical Growth Trajectory $5,102,748 $5,470,783 $5,500,000 $5,245,556 $5,000,000 $4,576,579 $4,433,296 $4,500,000 $4,296,047 $4,000,000 $3,448,661 $3,500,000 $3,041,012 $3,000,000 $2,596,133 $2,612,801 $2,500,000 $2,143,1
Slide 11: Trailing Twelve Months Product Sales
Trailing Twelve Months Product Sales The annual product sales growth trajectory remains strong. $20,395,666 $20,000,000 Trailing Twelve Months Product Sales for the Period Ending $15,105,058 $15,000,000 Trend Line $10,000,000 $8,206,036 $4,043,819 $5,000,000 $3,269,691 $1,214,932 $- Q1 2014 Q1 2015
Slide 12: Working Capital and Cap Table
Working Capital and Cap Table Working Capital as of 3/31/19 12/31/18 12/31/17 12/31/16 12/31/15 12/31/14 12/31/13 12/31/12 Current Assets: Cash and short-term investments $19,647 $22,369 $ 17,322 $ 5,245 $ 7,509 $ 5,550 $ 2,183 $ 1,729 Grants and accounts receivable, net 3,267 3,943 2,206 1,433 649
Slide 13: Guidance
Guidance • CytoSorbents has not historically given specific financial guidance on quarterly results until the quarter has been completed • However, we expect Q2 2019 product sales to return to our historical growth trajectory and are anticipated to be the highest quarterly product sales reported in
Slide 14: Q&A Session
Q&A Session CytoSorbents Corporation NASDAQ: CTSO Investor Relations: Jeremy Feffer (212) 915-3820 [email protected] A Leader in Critical Care Immunotherapy 14