CytoSorbents Corporation · NASDAQ:CTSO
CytoSorbents — Q2 2017 Earnings Presentation
22 slides from CytoSorbents's earnings presentation, Aug 7, 2017
Slide 1: CytoSorbents Q2 2017 Earnings Conference Call
CytoSorbents Corporation (NASDAQ: CTSO) A Leader in Critical Care Immunotherapy Q2 2017 Earnings Conference Call August 7, 2017
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 Vice President of Sales and Marketing
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 • Achieved total revenue of $3.6M, and the first $3M quarter in CytoSorb sales, on record direct and distributor sales • More than 27,000 CytoSorb treatments delivered, an increase from 14,000 a year ago with continued strong reorder rates • Excellent progress on German CytoSo
Slide 5: Operational Highlights
Operational Highlights • We thank Dr. Robert Bartlett, our former CMO who has retired, for his many years of support, guidance, and camaraderie • Dr. Eric Mortensen, started as the new CMO in June, and has focused on optimizing the REFRESH 2 trial design (expected to start later this year), and refi
Slide 6: Operational Highlights
Operational Highlights • New opportunities, such as cancer immunotherapy with the likely approval of the first CAR T-cell immunotherapy by Novartis expected later this year, open up potential new fast track paths to U.S. approval • Our new manufacturing facility is in build out and on schedule to co
Slide 7: Financial Highlights
Financial Highlights med CVtOSorbents forking to Save Lives Through Blood Purification
Slide 8: Q2 2017 Comparative Revenue Results
Q2 2017 Comparative Revenue Results 3 Months 3 Months Ended June Ended June 30, 2017 30, 2016 % Incr. Product revenue $ 3,041,012 $ 1,852,670 64% Grant and other income 525,214 369,668 42% Total revenue $ 3,566,226 $ 2,222,338 60% • Total Q2 2017 revenue was $3.6M, including both product sales and g
Slide 9: Comparative 6-Month Revenue Results
Comparative 6-Month Revenue Results 6 Months 6 Months Ended June Ended June 30, 2017 30, 2016 % Incr. Product revenue $ 5,637,145 $ 3,450,119 63% Grant and other income 1,042,599 582,401 79% Total revenue $ 6,679,744 $ 4,032,520 66% • CytoSorb® product sales for 1H 2017 were $5.6M, a 63% increase ov
Slide 10: Quarterly Product Sales
Quarterly Product Sales $3,041,012 $3,000,000 CytoSorb® Product Sales $2,612,801 $2,596,133 $2,500,000 $2,143,116 $2,000,000 $1,852,670 $1,597,449 $1,495,590 $1,500,000 $1,031,761 $1,071,459 $1,000,000 $871,150 $773,112 $663,233 $703,658 $569,243 $500,000 $314,159 $176,098 $203,561 $87,960 $127,969
Slide 11: Trailing Twelve Months Product Sales
Trailing Twelve Months Product Sales Over the past three years, the compound growth rate of return (“CAGR”) on product sales was 81% $12,000,000 Trailing Twelve Month Product Sales $10,393,062 $10,000,000 $8,000,000 Trend Line $6,017,168 $6,000,000 $4,000,000 $3,379,681 $2,000,000 $1,750,196 $405,70
Slide 12: Working Capital and Cap Table
Working Capital and Cap Table Working Capital as of 6/30/17 3/31/17 12/31/16 12/31/15 12/31/14 Current Assets: Cash and short-term investments $ 16,402 $ 3,240 $ 5,245 $ 7,509 $ 5,550 Grants and accounts receivable, net 2,059 1,732 1,433 649 819 Inventories 890 858 834 1,191 538 Prepaid expenses and
Slide 13: Sepsis
Sepsis med CVtOSorbents Working to Save Lives Through Blood Purification
Slide 14: Sepsis: A Top Ten Killer Worldwide
Sepsis: A Top Ten Killer Worldwide • Sepsis is the result of an overzealous immune response to an infection and is driven by “cytokine storm” • Afflicts ~30 million people worldwide every year and growing due to the aging baby boomer population and drug resistant bacteria • Severe sepsis kills 1 in
Slide 15: The Sepsis Crisis is NOW
The Sepsis Crisis is NOW • In May 2017, the World Health Organization (WHO) mandated sepsis as a “Global Health Priority” • In July 2017, Bloomberg declared “America has a $27 Billion Sepsis Crisis” Sepsis is an equal opportunity killer. It is not going away 15
Slide 16: Sepsis Has Defied Any Solution
Sepsis Has Defied Any Solution • There have been more than 100 Phase II and Phase III clinical trials exploring the potential of different interventional strategies on sepsis • All of these included the use of standard of care including antibiotics • With the exception of the PROWESS Xigris trial, a
Slide 17: Caution of Promising Early Studies
Caution of Promising Early Studies Early Goal Directed Therapy (EGDT): • Very promising 263 patient single center randomized, controlled trial (RCT) between severe sepsis or septic shock patients with either: Protocol-based hemodynamic resuscitation vs standard therapy. Mortality was 46.5% in the co
Slide 18: Steroids in Sepsis
Steroids in Sepsis • HYPRESS (2016): RCT with 380 patient with severe sepsis, no shock. Given 50 mg hydrocortisone IV bolus, followed by 200 mg/d for 5 days then tapered to Day 11. No effect in 14 days on progression to shock, or 28- or 90-day mortality. 28-day mortality was 8.8% treatment vs 8.2% c
Slide 19: Vitamin C, Hydrocortisone, Thiamine trial
Vitamin C, Hydrocortisone, Thiamine trial Vitamin C, Hydrocortisone, Thiamine (2017) • Retrospective single center 47 consecutive patient trial in severe sepsis or septic shock patients given daily treatment with 6g IV Vitamin C, 200 mg hydrocortisone IV for 7 days, and 400 mg IV thiamine each day.
Slide 20: CytoSorb Attacks Sepsis Broadly
CytoSorb Attacks Sepsis Broadly Inflammatory cytokines (organ failure) & other factors Immunosuppressive cytokines & re-establish immune responsiveness Many bacterial toxins (organ failure), PAMPs and DAMPs Re-establish proper leukocyte trafficking to prevent cell-mediated organ injury MAP Improveme
Slide 21: CytoSorb Sepsis Strategy – Playing Smart
CytoSorb Sepsis Strategy – Playing Smart We are pleased to have Dr. Eric Mortensen lead our clinical trial program. The goals of development will be to: • Avoid the heterogeneity inherent to most large scale pivotal trials in sepsis • Take advantage of the unique mechanistic aspects of CytoSorb • Be
Slide 22: Q&A Session
Q&A Session CytoSorbents Corporation NASDAQ: CTSO Investor Relations: Bob Yedid (646) 597-6989 [email protected] A Leader in Critical Care Immunotherapy 22