InvestmentPitch: Vista Partners Initiates Coverage on CytoSorbents Corporation
(OTCQB:CTSO) - Video Research Alert on InvestmentPitch.com
Vancouver, BC, January 30, 2014 - San Francisco-based Vista Partners has
initiated coverage on CytoSorbents Corporation (OTCQB:CTSO). Analyst Ross
Silver gives the company a 12 month target price of $0.50, a premium of 85% to
the $0.27 price on January 28th, the day the report was issued.
InvestmentPitch.com has produced a "video research alert" about CytoSorbents
based on this report. If this link is not enabled, please visit
www.InvestmentPitch.com and enter "CytoSorbents" in the search box.
CytoSorbents is a development stage company, engaged in the research,
development, and commercialization of medical devices based on its platform
blood purification technology. The company utilizes its proprietary adsorbent
polymer technology in a way similar to that of a filter.
The company has developed its technology for various planned applications in
the medical field, primarily to provide blood purification for acute and
chronic health complications associated with conditions that cause blood
toxicity. The highly advanced technology, which is comprised of biocompatible,
highly porous polymer beads that contain millions of pores and channels, is
highly adaptable. The system could possibly be modified to remove a wide
variety of toxins from a patient; aiming to essentially run the gamut in terms
of removing harmful substances from the blood, from ones as small as drugs,
often comprised of only a few molecules, to those as large as antibodies.
The company is in the process of, and has, developed a number of different
proprietary, and in a number of cases novel, medical devices, utilizing
Although still a development stage company, it has begun selling its flagship
CytoSorb® device in certain European markets. 2013 was the first full year of
CytoSorb® commercialization, with the company expecting to report total
revenue of approximately $2.4 million for the year ending December 31st
including both product sales and grant income. Expected 4th quarter product
sales in the range of $330,000 to $360,000 were a record for the company.
Analyst Ross Silver stated, "The Company is on the "ground floor" of
commercialization and positioned to potentially create significant value with
their approved product, CytoSorb®, which has the potential to revolutionize
critical care medicine; save lives, and reduce cost. CytoSorb® and the other
products in the Company's pipeline may have significant upside, considering
the massive markets they seek to address. The Company enjoys a unique, high
margin product and pipeline with little to no current competition."
The Company has received validation of their technology from many large
organizations including: Biocon, DARPA, U.S. Army, U.S. Air Force, National
Institutes of Health, National Heart, Lung & Blood Institute, scientific
advisors & analysts.
The company currently trades at $0.27, well below the $0.50 target price, and
with 245 million shares outstanding, the company is capitalized at $66
For more information, please visit the company's website www.cytosorbents.com
or contact Dr. Phillip Chan, CEO at 732-329-8885 ext. *823 or email
The company's investor relations is handled by Amy Vogel. She can be reached
at 732-329-8885 ext *777 or by email at firstname.lastname@example.org.
For more information about Vista Partners or to obtain a copy of their
research report, contact your nearest Vista Partners office. Their branches
are listed on their website at www.vistapglobal.com.
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Barry Morgan, CFO
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: InvestmentPitch via Globenewswire
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