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Wednesday
Jun062012

Zacks.com initiates coverage of CytoSorbents Corporation, gives Outperform rating (CTSO)

CytoSorbents Corporation (OTCBB: CTSO) is a critical-care focused therapeutic device company using blood purification to modulate the immune system and fight organ failure in life-threatening illnesses such as sepsis, burn injury, trauma, lung injury and pancreatitis. Its purification technology is based on biocompatible, highly porous polymer beads that can actively remove toxic substances from blood and other bodily fluids by pore capture and absorption.

Zacks Investment Research has initiated coverage of CytoSorbents Corporation and assigned it an "Outperform" rating.

Senior Medical Device Analyst Brian Marckx writes,

"CytoSorbents' novel blood purification technology aims to revolutionize the treatment of life-threatening illnesses in the ICU.  Patients with critical care illnesses such as sepsis, trauma, burn injury, acute respiratory distress syndrome and pancreatitis are some of the most seriously-ill and difficult to treat patients in the hospital.  Their CytoSorb device was CE Marked in March 2011 and subsequently commenced its initial commercialization. Near-term game-plan is to build awareness to facilitate broader roll-out in Europe.  FDA approval is a longer-term goal, the quest for which is now in the planning stage."

He continues,
"Despite certain risks, we feel the shares trade cheaper than warranted and are initiating coverage with an Outperform rating."

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