Cytosorbents Corp. Receives Delisting Notice
Ticker: CTSO · Form: 8-K · Filed: Jan 17, 2024 · CIK: 1175151
| Field | Detail |
|---|---|
| Company | Cytosorbents CORP (CTSO) |
| Form Type | 8-K |
| Filed Date | Jan 17, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: delisting, compliance, regulatory-filing, risk-factor
TL;DR
**Cytosorbents got a delisting notice, big red flag for shareholders.**
AI Summary
Cytosorbents Corporation filed an 8-K on January 17, 2024, indicating that it has received a notice of delisting or failure to satisfy a continued listing rule or standard. This filing also covers other events and financial statements/exhibits. This matters to investors because such a notice often signals financial distress or operational issues that could lead to the company's stock being removed from a major exchange, potentially reducing liquidity and investor confidence.
Why It Matters
A delisting notice can severely impact a stock's liquidity and investor perception, potentially leading to a significant drop in share price and making it harder for investors to trade their shares.
Risk Assessment
Risk Level: high — A delisting notice indicates serious compliance issues that could lead to the stock being removed from an exchange, significantly increasing investment risk.
Analyst Insight
A smart investor would carefully evaluate the reasons for the delisting notice and the company's plan to address it. Given the high risk, considering reducing exposure or avoiding new positions until more clarity emerges would be prudent.
Key Players & Entities
- Cytosorbents Corporation (company) — the registrant filing the 8-K
- January 17, 2024 (date) — Date of Earliest Event Reported
- 001-36792 (other) — Commission File Number
- 98-0373793 (other) — I.R.S. Employer Identification No.
- 305 College Road East Princeton, New Jersey 08540 (other) — Address of principal executive offices
- 732-329-8885 (other) — Registrant’s telephone number
Forward-Looking Statements
- Cytosorbents Corporation's stock price will experience increased volatility. (Cytosorbents Corporation) — high confidence, target: 2024-04-17
- The company will need to disclose a plan to regain compliance with listing standards. (Cytosorbents Corporation) — medium confidence, target: 2024-07-17
FAQ
What is the primary reason Cytosorbents Corporation filed this 8-K?
Cytosorbents Corporation filed this 8-K primarily due to a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard' as indicated in the 'ITEM INFORMATION' section of the filing.
What is the 'Date of Earliest Event Reported' for this filing?
The 'Date of Earliest Event Reported' for this filing is January 17, 2024, as stated in the 'CURRENT REPORT' section.
What is the business address of Cytosorbents Corporation?
The business address of Cytosorbents Corporation is 305 College Road East, Princeton, New Jersey 08540, according to the 'BUSINESS ADDRESS' section of the filing.
What is the Commission File Number for Cytosorbents Corporation?
The Commission File Number for Cytosorbents Corporation is 001-36792, as listed in the 'FORM 8-K CURRENT REPORT' section.
What other items are included in this 8-K filing besides the delisting notice?
In addition to the 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard,' the filing also includes 'Other Events' and 'Financial Statements and Exhibits' under the 'ITEM INFORMATION' section.
Filing Stats: 457 words · 2 min read · ~2 pages · Grade level 10.7 · Accepted 2024-01-17 17:20:45
Key Financial Figures
- $0.001 — e on which registered common stock, $0.001 par value CTSO The Nasdaq Stock Marke
Filing Documents
- tm243541-1_8k.htm (8-K) — 25KB
- tm243541d1_ex99-1.htm (EX-99.1) — 20KB
- image_001.jpg (GRAPHIC) — 34KB
- 0001104659-24-004548.txt ( ) — 267KB
- ctso-20240117.xsd (EX-101.SCH) — 3KB
- ctso-20240117_lab.xml (EX-101.LAB) — 33KB
- ctso-20240117_pre.xml (EX-101.PRE) — 22KB
- tm243541-1_8k_htm.xml (XML) — 3KB
01
Item 8.01 Other Events On January 17, 2024, CytoSorbents Corporation (the "Company") issued a press release which reports on excellent outcomes from a groundbreaking randomized controlled trial (RCT) using CytoSorb blood purification during heart transplant, recently published in the European Society of Cardiology journal, ESC Heart Failure. A copy of the press release is filed herewith as Exhibit 99.1 and incorporated by reference into this Item 8.01.
01
Item 9.01 Exhibits (d) Exhibits Exhibit No. Description 99.1 Press Release of the Company, dated January 17, 2024 104 Cover Page Interactive Data File (embedded with the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: January 17, 2024 CYTOSORBENTS CORPORATION By: /s/ Dr. Phillip P. Chan Name: Dr. Phillip P. Chan Title: Chief Executive Officer