CytoSorbents Reports 24% Year-over-Year Increase in CytoSorb Sales in First Quarter 2015

Reports 24% Year-over-Year Increase in CytoSorb

Sales in First Quarter 2015

MONMOUTH JUNCTION, N.J., May 11, 2015 -

CytoSorbents Corporation (NASDAQ: CTSO), a critical care immunotherapy company commercializing its CytoSorb cytokine adsorber

to treat critically-ill and cardiac surgery patients in multiple countries worldwide, reported financial and operational results

for the first quarter ended March 31, 2015.

Q1 2015 Product Sales of $704,000. Trailing 12-month CytoSorb Sales Increased to $3.3 Million

Recent Financial Highlights:

Recent Operational Highlights

Dr. Phillip Chan, Chief Executive Officer

of CytoSorbents, stated "We believe our current results only hint at the tremendous opportunities for future growth that

CytoSorb has as a unique treatment for deadly inflammation in life-threatening illnesses such as sepsis, trauma, liver failure,

and lung injury, as well as in complex cardiac surgery. CytoSorb has already been used to help save the lives or improve the

clinical outcomes of many of these patients, and its usage continues to spread. The strategic importance and broad applicability

of CytoSorb in medicine is becoming even more apparent by its potential to treat deadly side effects, like cytokine release

syndrome, in major ground-breaking treatments such as activated T-cell immunotherapy for cancer and others. Deaths caused by major

disease epidemics (e.g. Ebola, MERS, and influenza) and large scale tragedies (e.g. the Nepal earthquake) that result in serious

inflammation and physical trauma, only further highlight the need for a therapy like CytoSorb ."

Dr. Chan continued, "We continue

to aggressively expand CytoSorb commercialization outside the U.S, driven by a combination of direct, distributor and partner

sales. We have bolstered our direct sales capabilities through the recent addition of two well-qualified sales representatives

who will start at the beginning of Q3 2015, with more progress on the way. Meanwhile, we expect sales growth from our existing

distributor network, as established partners gain more traction in the market, as new distributors sign on, as reimbursement is

clarified in different countries, and as we await final product registrations and initial sales in a number of key markets across

Europe, the Middle East and Asia. And we believe the enthusiasm by our market-leading strategic partners, Fresenius Medical Care,

Biocon and one of the top global cardiac surgery companies, as well as potential new partners, will translate into increased sales

in their respective markets over time. In the meantime, we continue to pursue US FDA regulatory approval, and expect to begin our

REFRESH feasibility study in cardiac surgery by mid-year. In addition, we expect initial data from several investigator initiated

clinical studies to also be announced this year. Overall, we believe that Cytosorbents' future is extremely bright, with

many opportunities to create substantial value. We look forward to sharing the details of our anticipated milestones and accomplishments

as our business continues to evolve."

Conference Call Details:

Date: Monday, May 11, 2015

Time: 4:15 PM Eastern

Participant Dial-In: 719-325-4865

live webcast of the conference can be accessed through the following audio feed link: https://viavid.webcasts.com/starthere.jsp?ei=1063283.

It is recommended that participants dial in approximately 10 minutes prior to the start of the call.

An archived recording of the conference

call will be available under the Investor Relations section of the Company's website at http://www.cytosorbents.com/invest.htm

Financial Results for the Three Months

Ended March 31, 2015

Product revenues and gross margins were

approximately $704,000 and 59%, respectively, in the three months ended March 31, 2015, as compared to approximately $569,000 and

61%, respectively, in the three months ended March 31, 2014. This represented an increase in product sales of $135,000, or 24%,

from the year ago period. Product sales and gross margins for the three months ended March 31, 2015, were impacted by a decline

in the Euro compared to the U.S. dollar versus a year ago, resulting in an approximately $112,000, or 16%, adverse impact on sales.

A previously noted restructuring of the company's direct sales force resulted in a higher percentage of lower margin distributor

sales, which also affected revenue growth and blended gross margins.

Grant income was approximately $19,000

for the three months ended March 31, 2015 as compared to approximately $491,000 for the three months ended March 31, 2014 as a

result of the conclusion or near conclusion of several significant grants and contracts during 2014.

As a result of the decrease in grant income,

for the three months ended March 31, 2015, the Company generated total revenue of approximately $723,000 as compared to total revenue

of approximately $1,062,000, for the three months ended March 31, 2014, a decrease of approximately $339,000 or 32%.

Our loss from operations for the three

months ended March 31, 2015 was approximately $2,712,000, as compared to a loss from operations of approximately $1,154,000 for

the three months ended March 31, 2014.

On March 31, 2015, our cash and short-term

investments were approximately $13,358,000, as compared to approximately $5,550,000 as of December 31, 2014. This increase in cash

is a direct result of our Janaury 2015 registered offering of our Common Stock from which we received approximately $9,409,000

For additional information please see the

Company's 10-Q report for the period ended March 31, 2015 filed on May 11, 2015 on http://www.sec.gov.

About CytoSorbents Corporation

CytoSorbents Corporation

is a critical care focused immunotherapy company using blood purification to control severe inflammation -- with the goal of preventing

or treating multiple organ failure in life-threatening illnesses. Organ failure is the cause of nearly half of all deaths in the

intensive care unit, with little to improve clinical outcome. CytoSorb , the Company's flagship product, is approved in the

European Union and marketed in 29 countries around the world, as a safe and effective extracorporeal cytokine adsorber, designed

to reduce the "cytokine storm" that could otherwise cause massive inflammation, organ failure and death in common critical

illnesses such as sepsis, burn injury, trauma, lung injury, and pancreatitis. These are conditions where the risk of death is extremely

high, yet no effective treatments exist. CytoSorb is also being used during and after cardiac surgery to remove inflammatory

mediators, such as cytokines and free hemoglobin, which can lead to post-operative complications, including multiple organ failure.

purification technologies are based on biocompatible, highly porous polymer beads that can actively remove toxic substances from

blood and other bodily fluids by pore capture and surface adsorption. CytoSorbents has numerous products under development

based upon this unique blood purification technology, protected by 32 issued US patents and multiple applications pending, including

HemoDefend , ContrastSorb, DrugSorb, and others. Additional information is available for download on the Company's website:

http://www.cytosorbents.com and http://www.cytosorb.com

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representations and contentions and are not historical facts and typically are identified by use of terms such as "may,"

"should," "could," "expect," "plan," "anticipate," "believe," "estimate,"

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expressed differently. You should be aware that the forward-looking statements in this press release represent management's current

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our Annual Report on Form 10-K, filed with the SEC on March 31, 2015, as updated by the risks reported in our Quarterly Reports

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advise interested parties of the risks and factors which may affect our business. We caution you not to place undue reliance upon

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as a result of new information, future events, or otherwise, other than as required under the Federal securities laws.

Melanie Sollid-Penton

CYTOSORBENTS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE LOSS

(amounts in thousands, except per share

CYTOSORBENTS CORPORATION