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CytoSorbents Entered Into A New $20M Credit Facility With Avenue Capital Group

Author: Benzinga Newsdesk | July 02, 2024 07:10am

Proceeds from the facility are intended to provide non-dilutive working capital to support the Company's ongoing global CytoSorb® franchise in critical care and cardiac surgery that generated $32.2 million in trailing 12-month sales as of March 31, 2024, planned marketing applications to U.S. Food and Drug Administration (FDA) and Health Canada for DrugSorb™-ATR and initial launch and commercialization preparations if approved, and refinancing of existing Bridge Bank debt.

Posted In: CTSO