CytoSorbents Reports Third Quarter 2024 Financial and Operational Results PRINCETON, N .J.

Reports Third Quarter 2024 Financial and Operational Results

N.J., November 7, 2024 - CytoSorbents Corporation (NASDAQ: CTSO), a leader in

the treatment of life-threatening conditions in the intensive care unit and cardiac surgery using blood purification, today reported

unaudited financial and operating results for the third quarter ended September 30, 2024.

Third Quarter 2024 Financial Results

with the progress we made this quarter. Our topline performance is a testament to the improving strength of our critical care and cardiac

surgery businesses, driven by solid execution from our direct sales team and distributor network. In addition, our manufacturing is now

running smoothly with an expected return to more normalized production levels and product gross margins in the fourth quarter of this

year." stated Dr. Phillip Chan, Chief Executive Officer of CytoSorbents. "Meanwhile, we believe that we have significantly

improved our operating metrics and continue to demonstrate a disciplined approach to cash management. We believe this will enable us

to scale our business effectively with improved operating leverage as we prepare for the commercial launch of DrugSorb -ATR in

North America, if approved, and position ourselves for the next phase of growth."

Our DrugSorb-ATR Regulatory and Commercial Strategy

Chan continued, "The potential expansion of our markets to the U.S. and Canada with DrugSorb-ATR

could be game-changing. With the steady growth in our CytoSorb business driving leverage in our operations, we have been diligently executing

on our regulatory strategy for DrugSorb-ATR with the U.S. Food and Drug Administration (FDA) and Health Canada." We have:

Chan continued, "These are key milestones that give us visibility on regulatory decisions

by FDA and Health Canada expected next year. We are confident that DrugSorb-ATR has the ability to transform the current standard of

care in patients with acute coronary syndromes (ACS) treated with the blockbuster blood thinner Brilinta (ticagrelor,

AstraZeneca) by enabling safe and timely CABG surgery while eliminating treatment delays that expose patients to additional risk and

consume valuable hospital resources. In doing so, we believe DrugSorb-ATR represents a winning solution for patients, surgeons, and hospitals.

North American DrugSorb-ATR total addressable market (TAM) in patients undergoing CABG surgery on Brilinta currently

exceeds an estimated $300 million. Brilinta already enjoys a dominant market share in Canada due to ACS treatment

guidelines and is growing in dominance in the U.S. The TAM is expected to grow to well over $600 million once Brilinta becomes

generic and DrugSorb-ATR makes it the only reversible orally administered antiplatelet drug; and with potential label expansion to

include other blood thinner categories including direct oral anticoagulants and direct thrombin inhibitors that could make

DrugSorb-ATR an "all-in-one" countermeasure for these agents. We further estimate that broadening the use of

DrugSorb-ATR to remove blood thinners in non-CABG cardiac surgeries, off-pump CABG surgeries, or in other types of non-cardiac

surgeries could expand the total addressable market to $1-2 billion.

these are certainly large markets, be assured that we have had years of both manufacturing and commercialization experience in our core

international markets and are actively preparing to leverage this experience for our expected North American launch."

Chan concluded, "We believe we have a simple and compelling value proposition. Our North

American DrugSorb-ATR opportunity is significant, and leverages the experience of our international CytoSorb business which continues

to grow across 76 countries and is generating nearly $34 million in trailing 12-month product sales at approximately 70% gross margins,

and is nearing cash flow breakeven. CytoSorb is generating exciting clinical data through our STAR (Safe and Timely Antithrombotic

Removal) and critical care COSMOS (CytOSorb TreatMent Of Critically Ill PatientS) registries

with results presented at major scientific congresses. We are also witnessing a lot of enthusiasm for our new PuriFi

hemoperfusion pump, launched at the end of the second quarter 2024, with now many pump placements and evaluations ongoing. Our global

team is executing on our strategy and positioning us well for this next stage of growth."

The goal of DrugSorb-ATR,

an investigational medical device, is to reduce the severity of perioperative bleeding in patients on ticagrelor (Brilinta ,

AstraZeneca) undergoing coronary artery bypass graft (CABG) surgery. Ticagrelor is a blood thinning drug frequently administered in the

hospital to patients suffering a heart attack. If patients are not eligible for a coronary stent, they will often require CABG surgery

to restore blood flow to heart muscle. Current guidelines recommend the delay of surgery by three to five days to allow "washout"

or natural elimination of the drug to reduce the high risk of serious and potentially fatal perioperative bleeding from the use of the

blood thinner. We believe that DrugSorb-ATR represents a breakthrough solution that will allow patients to proceed with their much-needed

CABG surgery in a safe and timely manner rather than risking serious, potentially life-threatening complications and consuming costly

hospital resources while waiting in the hospital for multiple days for ticagrelor to be naturally eliminated from their system.

Company will conduct its third quarter 2024 results call today at 4:30 p.m. Eastern time. Investors interested in participating in the

call by phone may do so by dialling (800) 715-987, passcode 9258825. Those interested in listening to the conference call live via the

internet may do so by utilizing the following link https://edge.media-server.com/mmc/p/e9gv3iaw,

conference ID: 9258825. 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 https://ir.cytosorbents.com/.

our condensed consolidated financial statements, we use the non-GAAP financial measures of EBITDA, which measures earnings before

interest, income taxes, depreciation and amortization, and Adjusted EBITDA which further excludes non-cash stock compensation

expense, and gain or loss of foreign exchange translation. We also use the non-GAAP financial measures of Adjusted Net Income or

Loss and Adjusted Net Income or Loss Per Common Share which excludes non-cash stock compensation expense and gain or loss of foreign

exchange translation from Net Loss and Net Loss Per Common Share, respectively. These non-GAAP measures are not based on any

comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, financial

measures calculated in accordance with GAAP and may be different from non-GAAP measures used by other companies. In addition, these

non-GAAP measures should be read in conjunction with our financial statements prepared in accordance with GAAP. The reconciliations

of the non-GAAP measures to the most directly comparable financial measures calculated and presented in accordance with GAAP should

be carefully evaluated. We use these non-GAAP financial measures for financial and operational decision-making and as a means to

evaluate period-to-period comparisons. We believe that these non-GAAP financial measures provide meaningful supplemental information

regarding our performance and that both management and investors benefit from referring to these non-GAAP financial measures in

assessing our performance and when planning, forecasting, and analyzing future periods. We believe these non-GAAP financial measures

are useful to investors because (1) they allow for greater transparency with respect to key metrics used by management in its

financial and operational decision-making and (2) they are used by investors and the analyst community to help them analyze the

performance of our business, the Company's cash available for operations, and the Company's ability to meet future

capital expenditure and working capital requirements.

Corporation (NASDAQ: CTSO)

Corporation is a leader in the treatment of life-threatening conditions in the intensive care

unit and cardiac surgery through blood purification. CytoSorbents' proprietary blood 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. Cartridges filled with these beads can be used with standard blood pumps already in the hospital (e.g. dialysis, ECMO, heart-lung

machines). CytoSorbents' technologies are used in a number of broad applications. Specifically, two important applications are

1) the removal of blood thinners during and after cardiothoracic surgery to reduce the risk of severe bleeding and 2) the removal of

inflammatory agents in common critical illnesses such as sepsis, burn injury, trauma, lung injury, liver failure, cytokine release syndrome,

and pancreatitis that can lead to massive inflammation, organ failure and patient death. In these diseases, the risk of death can be

extremely high, and there are few, if any, effective treatments.

lead product, CytoSorb , is approved in the European Union and distributed

in 76 countries worldwide, with more than a quarter million devices used cumulatively to date. CytoSorb was originally launched in the European

Union under CE mark as the first cytokine adsorber. Additional CE mark extensions were granted for bilirubin and myoglobin removal

in clinical conditions such as liver disease and trauma, respectively, and for ticagrelor and rivaroxaban removal

in cardiothoracic surgery procedures. CytoSorb has also received FDA Emergency Use Authorization in the United States for

use in adult critically ill COVID-19 patients with impending or confirmed respiratory failure, to reduce pro-inflammatory cytokine levels.

CytoSorb is not yet approved in the United States.

In the U.S. and Canada, CytoSorbents is developing

the DrugSorb -ATR antithrombotic removal system, an investigational device based on an equivalent polymer technology to CytoSorb,

to reduce the severity of perioperative bleeding in high-risk surgery due to blood thinning drugs. It has received two FDA Breakthrough

Device Designations: one for the removal of ticagrelor and another for the removal of the direct oral anticoagulants (DOAC)

apixaban and rivaroxaban in a cardiopulmonary bypass circuit during urgent cardiothoracic procedures. In September 2024, the Company

submitted a De Novo medical device application to the U.S. FDA requesting marketing approval to reduce the severity of perioperative bleeding

in CABG patients on the antithrombotic drug ticagrelor, which was accepted for substantive review in October 2024. In November 2024, the

Company received its Medical Device Single Audit Program (MDSAP) certification and submitted its Medical Device License (MDL) application

to Health Canada. DrugSorb-ATR is not yet granted or approved in the United States and Canada, respectively.

The Company has numerous marketed products and

products under development based upon this unique blood purification technology protected by many issued U.S. and international