赛托斯orbents公司2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period endedSeptember 30, 2025 or ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 Commission file number:001-36792 Securities registered pursuant to Section12(b)of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90days.☑Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or forsuch shorter period that the registrant was required to submit such files).Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large acceleratedfiler☐Non-acceleratedfiler☑ Smaller reporting company☑ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section13(a)of theExchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).☐Yes☑No As of November 10, 2025, there were62,804,305shares of the issuer’s common stock, $0.001 par value per share (the“Common Stock”), outstanding. CytoSorbents CorporationFORM 10-QTABLE OF CONTENTS PART I. FINANCIAL INFORMATION Item 1. Financial Statements3Condensed Consolidated Balance Sheets as of September 30, 2025 (unaudited) and December 31, 20243Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Nine MonthsEnded September 30, 2025 and 2024 (unaudited)4Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three and Nine MonthsEnded September 30,2025 and 2024 (unaudited)5Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2025 and 2024(unaudited)6Notes to Condensed Consolidated Financial Statements (unaudited)7Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations25Item 3. Quantitative and Qualitative Disclosures About Market Risk32Item 4. Controls and Procedures33PART II. OTHER INFORMATIONItem 1. Legal Proceedings35Item 1A. Risk Factors35Item 2. Unregistered Sales of Equity Securities and Use of Proceeds37Item 3. Defaults Upon Senior Securities37Item 4. Mine Safety Disclosures37Item 5. Other Information37Item 6. Exhibits38Signatures39 This Report includes our trademarks and trade names, such as “CytoSorb,” “CytoSorb XL,” “ECOS-300CY,”“BetaSorb,” “ContrastSorb,” “DrugSorb,” “HemoDefend-RBC,” “HemoDefend-BGA, “K+ontrol” and “VetResQ,”which are protected under applicable intellectual property laws and are the property of CytoSorbents Corporation andits subsidiaries. This Report also contains the trademarks, trade names and service marks of other companies, whichare the property of their respective owners. Solely for convenience, trademarks, trade names and service marksreferred to in this Report may appear without the ™, ®, or SM symbols, but such references are not intended toindicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the rights of theapplicable licensor to these trademarks, trade names and service marks. We do not intend our use or display of otherparties’ trademarks, trade names or service marks to imply, and such use or display should not be construed to imply arelationship with, or endorsement or sponsorship of us by these other parties. PARTI— FINANCIAL INFORMATION CYTOSORBENTS CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except share data) LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent Liabilities: CYTOSORBENTS CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(UNAUDITED)(in thousands, except share and per share data) CYTOSORBENTS CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY(UNAUDITED)(in thousands, except share data) CYTOSORBENTS CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)(in thousands) CYTOSORBENTS CORPORATIONNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTSSEPTEMBER 30, 2025(Unaudited) 1.NATURE OF BUSINESS AND BASIS OF PRESENTATION CytoSorbents Corporation (the “Company”) is a leader in the treatment of life-threatening conditions in inten