CytoSorbents Corp 2026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 ended March 31, 2026 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 May 7, 2026, there were 62,794,748 shares 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 March 31, 2026 (unaudited) and December 31, 20253Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months EndedMarch 31, 2026 and 2025 (unaudited)4Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three Months Ended March31,2026 and 2025 (unaudited)5Condensed Consolidated Statements of Cash Flows for the three Months Ended March 31, 2026 and 2025(unaudited)6Notes to Condensed Consolidated Financial Statements (unaudited)7Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations23Item 3. Quantitative and Qualitative Disclosures About Market Risk29Item 4. Controls and Procedures29PART II. OTHER INFORMATIONItem 1. Legal Proceedings32Item 1A. Risk Factors32Item 2. Unregistered Sales of Equity Securities and Use of Proceeds32Item 3. Defaults Upon Senior Securities32Item 4. Mine Safety Disclosures32Item 5. Other Information32Item 6. Exhibits33Signatures34 This Report includes our trademarks and trade names, such as “CytoSorb,” “CytoSorb XL,” “ECOS-300CY,”“BetaSorb,”“ContrastSorb,”“DrugSorb,”“DrugSorb-ATR,”“HemoDefend-RBC,”“HemoDefend-BGA,”“K+ontrol,” “VetResQ,” “PuriFi,” and “HotSwap,” which are protected under applicable intellectual property laws andare the property of CytoSorbents Corporation and its subsidiaries. This Report also contains the trademarks, tradenames and service marks of other companies, which are the property of their respective owners. Solely forconvenience, trademarks, trade names and service marks referred to in this Report may appear without the ™, ®, orSM symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extentunder applicable law, our rights or the rights of the applicable licensor to these trademarks, trade names and servicemarks. We do not intend our use or display of other parties’ trademarks, trade names or service marks to imply, andsuch use or display should not be construed to imply a relationship with, or endorsement or sponsorship of us by theseother 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) Three Months Ended March31,20262025Revenue, net$8,864$8,727Cost of goods sold2,7342,520Gross profit6,1306,207 Operating expensesResearch and development, net of grant income1,0251,663Selling, general and administrative8,1498,432Total operating expenses9,17410,095Loss from operations(3,044)(3,888) CYTOSORBENTS CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY(UNAUDITED)(in thousands, except share data) CYTOSORBENTS CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FL