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CTSOCYTOSORBENTS CORPORATION

Is Cytosorbents struggling financially?

Yes, by its own account. Cytosorbents told the SEC on 13 May 2026, in Form 10-Q, that there is substantial doubt about its ability to continue as a going concern.

Going concern disclosed May 2026

15/100

Critical

Cries for help

Nothing in the filings we have read reads as a plea for help.

Signs of a way out

  • Grant funding

    The Company routinely evaluates other financing sources, including less or non-dilutive debt financing, additional grant funding, royalty financing, strategic or direct investments, equity financing, and/or combinations thereof.

    Form 10-Q, filed 13 May 2026. Read it on SEC.gov

Sector
Biotech/Pharma
Market cap
$23.3M
Source filing
10-Q 13 May 2026
Balance sheet
30 Jun 2026

Cash runway

  • 2months

    If the burn speeds up

    Empty by Aug 2026

  • 4months

    If it eases off

    Empty by Oct 2026

Both rows are the same reported burn flexed 15% either way, and neither assumes the company raises a cent.

Out of cashTwo years or more

The runway math

Cash and short-term investments

$4.4M

÷

Cash burned over the last 12 months

$15.5M

What Cytosorbents told the SEC

…and Cost Reduction Plan (see Note 11, “Restructuring”) and the impact of the Amended Loan and Security Agreement (see Note 6, “Long - Term Debt”) raises substantial doubt about the Company’s ability to continue as a going concern within twelve months after the date that the accompanying condensed consolidated financial statements are issued. The Company’s expected future capital requirements may depend on many…

CYTOSORBENTS CORPORATION, Form 10-Q, filed 13 May 2026.

Read the filing on SEC.gov

What this means

  • Not a bankruptcy filing, and not a prediction.
  • It is the company’s own statement, agreed with its auditor, that the doubt is material enough to disclose.
  • The runway is arithmetic on two reported numbers, not a forecast. Companies carry this language for years, raise money and keep going.

What else the numbers show

  • Debt pressure is material Debt is large against the cash on hand while the business generates little to service it, which puts lenders ahead of shareholders in the queue.
  • Cash burn is narrowing It is spending 33% less cash per year than it was, so the runway above is lengthening rather than shortening.

Other Biotech/Pharma companies that filed the doubt