Cytosorbents (CTSO) 10-Q 11 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	6-May-15
Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	ctso
Entity Registrant Name	Cytosorbents Corp
Entity Central Index Key	1175151
Current Fiscal Year End Date	-19
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		24,764,744

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$10,418,627	$3,605,280
Short-term investments	2,939,000	1,944,547
Grants and accounts receivable, net of allowance for doubtful accounts of $3,526 at March 31, 2015 and $3,756 at December 31, 2014	672,676	819,151
Inventories	702,921	537,566
Prepaid expenses and other current assets	148,498	700,462
Total current assets	14,881,722	7,607,006
Property and equipment, net	330,308	245,821
Other assets	652,237	615,798
Total long-term assets	982,545	861,619
Total Assets	15,864,267	8,468,625
Current Liabilities:
Accounts payable	475,213	698,307
Accrued expenses and other current liabilities	733,869	824,884
Deferred revenue		833
Warrant liability	4,989,344	2,981,418
Total current liabilities	6,198,426	4,505,442
Stockholders' Equity:
Preferred Stock, 5,000,000 shares authorized; -0- shares issued and outstanding at March 31, 2015 and December 31, 2014
Common Stock, 50,000,000 shares authorized; 24,678,415 and 23,304,640 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	24,678	23,305
Additional paid-in capital	138,180,345	128,106,297
Accumulated other comprehensive income	571,880	227,701
Accumulated deficit	-129,111,062	-124,394,120
Total stockholders' equity	9,665,841	3,963,183
Total Liabilities and Stockholders' Equity	$15,864,267	$8,468,625

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Allowance for doubtful accounts	$3,526	$3,756
Preferred Stock, shares authorized	5,000,000	5,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, shares authorized	50,000,000	50,000,000
Common Stock, shares issued	24,678,415	23,304,640
Common Stock, shares outstanding	24,678,415	23,304,640

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenue:
Sales	$703,658	$569,243
Grant income	18,583	491,262
Other revenue	833	1,667
Total revenue	723,074	1,062,172
Cost of revenue	304,481	662,537
Gross margin	418,593	399,635
Other Expenses:
Research and development	951,028	236,774
Legal, financial and other consulting	215,518	236,533
Selling, general and administrative	1,963,676	1,080,522
Total expenses	3,130,222	1,553,829
Loss from operations	-2,711,629	-1,154,194
Other income/(expense):
Interest income/(expense), net	2,613	-137,089
Change in warrant liability	-2,007,926	316,200
Total other income (expense), net	-2,005,313	179,111
Loss before benefit from income taxes	-4,716,942	-975,083
Benefit from income taxes
Net loss	-4,716,942	-975,083
Preferred Stock Dividends		-1,114,516
Net Loss available to common shareholders	-4,716,942	-2,089,599
Basic and diluted net loss per common share	($0.19)	($0.20)
Weighted average number of shares of common stock outstanding	24,394,474	10,619,195
Net loss	-4,716,942	-975,083
Other comprehensive income:
Currency translation adjustment	344,179	833
Comprehensive loss	($4,372,763)	($974,250)

CONSOLIDATED_STATEMENT_OF_CHAN

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (USD $)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Deficit [Member]
Balance at Dec. 31, 2014	$3,963,183	$23,305	$128,106,297	$227,701	($124,394,120)
Balance, shares at Dec. 31, 2014		23,304,640
Stock based compensation - employees, consultants and directors	63,580		63,580
Issuance of common stock - offering, net of fees incurred	9,408,584	1,250	9,407,334
Issuance of common stock - offering, net of fees incurred, shares		1,250,000
Other comprehensive income/(loss): foreign translation adjustment	344,179			344,179
Cashless exercise of warrants		20	-20
Cashless exercise of warrants, shares		19,696
Proceeds from exercise of warrants	593,250	95	593,155
Proceeds from exercise of warrants, shares		95,200
Cashless exercise of stock options		5	-5
Cashless exercise of stock options, shares	11,396	5,479
Proceeds from exercise of stock options	10,007	3	10,004
Proceeds from exercise of stock options, shares		3,400
Net loss	-4,716,942				-4,716,942
Balance at Mar. 31, 2015	$9,665,841	$24,678	$138,180,345	$571,880	($129,111,062)
Balance, shares at Mar. 31, 2015		24,678,415

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net loss	($4,716,942)	($975,083)
Adjustments to reconcile net loss to net cash used in operating activities:
Issuance of common stock to consultant for services		90,100
Depreciation and amortization	21,125	19,591
Amortization of debt discount		82,781
Stock-based compensation	63,580	57,372
Change in warrant liability	2,007,926	-316,200
Changes in operating assets and liabilities:
Grants and accounts receivable	104,425	125,696
Inventories	-140,711	99,085
Prepaid expenses and other current assets	543,085	412,281
Other assets	-7,134
Accounts payable and accrued expenses	-283,500	-240,736
Deferred revenue	-833	-154,995
Net cash used by operating activities	-2,408,979	-800,108
Cash flows from investing activities:
Purchases of property and equipment	-104,005	-21,370
Patent costs	-36,167	-4,541
Proceeds from sales of short-term investments	1,246,547
Purchases of short-term investments	-2,241,000	-4,745,000
Net cash used by investing activities	-1,134,625	-4,770,911
Cash flows from financing activities:
Equity contributions - net of fees incurred	9,408,584	9,751,455
Proceeds from exercise of stock options	10,007	51,760
Proceeds from exercise of warrants	593,250
Net cash provided by financing activities	10,011,841	9,803,215
Effect of exchange rates on cash	345,110	833
Net change in cash and cash equivalents	6,813,347	4,233,029
Cash and cash equivalents - beginning of period	3,605,280	2,183,030
Cash and cash equivalents - end of period	10,418,627	6,416,059
Supplemental disclosure of cash flow information:
Cash paid during the period for interest
Supplemental schedule of noncash investing and financing activities:
Fair value of warrant liability upon issuance		862,920
Fair value of shares issued as cost of raising capital		7,137
Costs paid from proceeds in conjunction with issuance of common stock and preferred stock	903,916	748,545
Preferred stock dividends		$1,114,516

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2015
BASIS OF PRESENTATION [Abstract]
BASIS OF PRESENTATION		1	BASIS OF PRESENTATION
	The Company's interim financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In the opinion of management, the Company has made all necessary adjustments, which include normal recurring adjustments necessary for a fair statement of the Company's financial position and results of operations for the interim periods presented. Certain information and disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These interim financial statements should be read in conjunction with the audited financial statements and accompanying notes for the year ended December 31, 2014 included in the Company's Annual Report on Form 10-K. The results for the three months and nine months ended September 30, 2014 are not necessarily indicative of the results to be expected for a full year, any other interim periods or any future year or period.
	The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company believes that it has adequate funding for more than the next twelve months of operations, however, it may have to raise additional capital to fund its future operations.
	As of March 31, 2015, the Company had an accumulated deficit of $129,111,062, which included net losses of $4,716,942 for the three months ended March 31, 2015 and $975,083 for the three months ended March 31, 2014. The Company's losses have resulted principally from costs incurred in the research and development of the Company's polymer technology and selling, general and administrative expenses. The Company intends to continue to conduct significant additional research, development, and clinical study activities which, together with expenses incurred for the establishment of manufacturing arrangements and a marketing and distribution presence and other selling, general and administrative expenses, are expected to result in continuing operating losses for the foreseeable future. The amount of future losses and when, if ever, the Company will achieve profitability are uncertain. The Company's ability to achieve profitability will depend, among other things, on successfully completing the development of the Company's technology and commercial products, obtaining additional requisite regulatory approvals in markets not covered by the CE Mark and for potential label extensions of the Company's current CE Mark, establishing manufacturing and sales and marketing arrangements with third parties, and raising sufficient funds to finance the Company's activities. No assurance can be given that the Company's product development efforts will be successful, that the Company's current CE Mark will enable us to achieve profitability, that additional regulatory approvals in other countries will be obtained, that any of the Company's products will be manufactured at a competitive cost and will be of acceptable quality, or that the Company will be able to achieve profitability or that profitability, if achieved, can be sustained. These matters raise substantial doubt about the Company's ability to continue as a going concern. These consolidated financial statements do not include any adjustments related to the outcome of this uncertainty.

PRINCIPAL_BUSINESS_ACTIVITY_AN

PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2015
PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES		2	PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Nature of Business
	The Company is a critical care focused immunotherapy company that uses blood purification to modulate inflammation with the goal of preventing or treating multiple organ failure in life-threatening illnesses. The Company, through its subsidiary CytoSorbents Medical Inc.(formerly known as CytoSorbents, Inc.), is engaged in the research, development and commercialization of medical devices with its platform blood purification technology incorporating a proprietary adsorbent, porous polymer technology. The Company, through its European Subsidiary, has commenced initial sales and marketing related operations for the CytoSorb® device in the EU. CytoSorb®, the Company's flagship product, is approved in the European Union and marketed in twenty-nine countries around the world, as a safe and effective extracorporeal cytokine absorber, 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. 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. In March 2011, the Company received CE Mark approval for its CytoSorb ® device.
	The technology is based upon biocompatible, highly porous polymer sorbent beads that can actively remove toxic substances from blood and other bodily fluids by pore capture and surface absorption. The Company has numerous products under development based upon this unique blood purification technology, which is protected by 32 issued U.S. patents and multiple applications pending, including HemoDefend™, ContrastSorb, DrugSorb, and others, with multiple patent applications pending both in the United States and internationally. The Company's intellectual property consists of composition of matter, materials, method of production systems incorporating the technology, and multiple medical uses with expiration dates ranging from 3 to 12 years.
	Reverse Stock Split
	On December 3, 2014, the Company effected a twenty-five-for-one reverse stock split. As a result of this action, funds were shifted from the common stock account to the additional paid in capital account to reflect the par value of the reduced number of shares. All share, option and warrant information presented in these financial statements and accompanying footnotes has been retroactively adjusted to reflect the reduced number of shares resulting from this action.
	Stock Market Listing
	On December 17, 2014 the Company's common stock was approved for listing on the NASDAQ Capital Market (“NASDAQ”), and it began trading on NASDAQ on December 23, 2014 under the symbol “CTSO”. Previously, the Company's common stock traded in the over-the-counter-market on the OTC Bulletin Board.
	Basis of Consolidation and Foreign Currency Translation
	The consolidated financial statements include the accounts of the Parent, CytoSorbents Corporation, and its wholly-owned subsidiaries, CytoSorbents Medical, Inc. and CytoSorbents Europe GmbH. All significant intercompany transactions and balances have been eliminated in consolidation.
	Translation gains and losses resulting from the process of remeasuring into the U.S. dollar, the foreign currency financial statements of the European subsidiary, for which the U.S. dollar is the functional currency, are included in operations. Foreign currency translation losses included in net loss amounted to approximately $448,509 and $12,000 for the three months ended March 31, 2015 and 2014, respectively. The Company translates assets and liabilities of the European subsidiary, whose functional currency is their local currency, at the exchange rate in effect at the balance sheet date. The Company translates revenue and expenses at the monthly average exchange rates. The Company includes accumulated net translation adjustments in stockholders' equity as a component of accumulated other comprehensive income.
	Cash and Cash Equivalents
	The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
	Grants and Accounts Receivable
	Grants receivable represent amounts due from U.S. government agencies. Accounts receivable are unsecured, non-interest bearing customer obligations due under normal trade terms. The Company sells its devices to various hospitals and distributors. The Company performs ongoing credit evaluations of customers' financial condition. Management reviews accounts receivable periodically to determine collectability. Balances that are determined to be uncollectible are written off to the allowance for doubtful accounts.
	Short-Term Investments
	Short-term investments include certificates of deposit with original maturities of greater than three months. The cost of the certificates of deposit approximates fair value.
	Inventories
	Inventories are valued at the lower of cost or market. At March 31, 2015 and December 31, 2014, the Company's inventory was comprised of finished goods, which amounted to $191,6293 and $142,693, respectively; work in process which amounted to $452,949 and $326,047, respectively; and raw materials, which amounted to $58,343 and $68,826, respectively. Devices used in clinical trials or for research and development purposes are removed from inventory and charged to research and development expenses at the time of their use.
	Property and Equipment
	Property and equipment are recorded at cost less accumulated depreciation. Depreciation of property and equipment is provided for by the straight-line method over the estimated useful lives of the related assets. Leasehold improvements are amortized over the lesser of their economic useful lives or the term of the related leases. Gains and losses on depreciable assets retired or sold are recognized in the statements of operations in the year of disposal. Repairs and maintenance expenditures are expensed as incurred.
	Patents
	Legal costs incurred to establish and successfully defend patents are capitalized. When patents are issued, capitalized costs are amortized on the straight-line method over the related patent term. In the event a patent is abandoned, the net book value of the patent is written off.
	Impairment or Disposal of Long-Lived Assets
	The Company assesses the impairment of patents and other long-lived assets under accounting standards for the impairment or disposal of long-lived assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. For long-lived assets to be held and used, the Company recognizes an impairment loss only if its carrying amount is not recoverable through its undiscounted cash flows and measures the impairment loss based on the difference between the carrying amount and fair value.
	Warrant Liability
	The Company recognizes the fair value of the warrants as of the date of the warrant grant using the binomial lattice valuation model. At each subsequent reporting date, the Company again measures the fair value of the warrants, and records a change to the warrant liability as appropriate, and the change is reported in the statement of operations.
	Revenue Recognition
	Product Sales: Revenues from sales of products are recognized at the time when title and risk of loss passes to the customer. Recognition of revenue also requires reasonable assurance of collection of sales proceeds and completion of all performance obligations.
	Grant Revenue: Revenue from grant income is based on contractual agreements. Certain agreements provide for reimbursement of costs, while other agreements provide for reimbursement of costs and an overhead margin. Revenues are recognized when milestones have been achieved and revenues have been earned. Costs are recorded as incurred. Costs subject to reimbursement by these grants have been reflected as costs of revenue.
	Deferred Revenue: The Company defers revenue that has been received but not yet earned on government contracts and product sales. This revenue will be recognized as income in the period in which the revenue is earned. All deferred revenue is expected to be earned within one year of the balance sheet date.
	Research and Development
	All research and development costs, payments to laboratories and research consultants are expensed when incurred.
	Advertising Expenses
	Advertising expenses are charged to activities when incurred. Advertising expenses amounted to approximately $51,000 and $116,000 for the three months ended March 31, 2015 and 2014, respectively, and are included in selling, general, and administrative expenses on the consolidated statement of operations.
	Income Taxes
	Income taxes are accounted for under the asset and liability method prescribed by accounting standards for accounting for income taxes. Deferred income taxes are recorded for temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities. Deferred tax assets and liabilities reflect the tax rates expected to be in effect for the years in which the differences are expected to reverse. A valuation allowance is provided if it is more likely than not that some or all of the deferred tax asset will not be realized. Under Section 382 of the Internal Revenue Code, the net operating losses generated prior to the previously completed reverse merger may be limited due to the change in ownership. Additionally, net operating losses generated subsequent to the reverse merger may be limited in the event of changes in ownership.
	The Company follows accounting standards associated with uncertain tax positions. The Company had no unrecognized tax benefits at March 31, 2015 or December 31, 2014. The Company files tax returns in the U.S. federal and state jurisdictions. The Company currently has no open years prior to December 31, 2011 and has no income tax related penalties or interest for the periods presented in these financial statements.
	The Company's European subsidiary annually files a corporate tax return, VAT return and a trade tax return in Germany.
	Use of Estimates
	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities. Actual results could differ from these estimates. Significant estimates in these financials are the valuation of options granted, the valuation of preferred shares issued as stock dividends and valuation methods used to determine the fair value of the warrant liability.
	Concentration of Credit Risk
	The Company maintains cash balances, at times, with financial institutions in excess of amounts insured by the Federal Deposit Insurance Corporation. Management monitors the soundness of these institutions in an effort to minimize its collection risk of these balances.
	As of March 31, 2015, three distributors accounted for approximately 55% of outstanding grant and accounts receivable. At December 31, 2014, three distributors accounted for approximately 53% of outstanding grant and accounts receivable. For the three months ended March 31, 2015, approximately 42% of revenues were from three distributors. No other agency, distributor, or direct customer represented more than 10% of the Company's revenue. For the three months ended March 31, 2014, approximately 46% of revenues were from two U.S. government grant agencies, and no other agency, distributor, or direct customer represented more than 10% of the Company's revenue.
	Financial Instruments
	The carrying values of cash and cash equivalents, short-term investments, accounts payable, notes payable, and other debt obligations approximate their fair values due to their short-term nature.
	Net Loss Per Common Share
	Basic eanings per share is computed by dividing income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share gives effect to all dilutive potential common shares outstanding during the period. The computation of Diluted earnings per share does not assume conversion, exercise or contingent exercise of securities that would have an anti-dilutive effect on earnings (See Note 6).
	Stock-Based Compensation
	The Company accounts for its stock-based compensation under the recognition requirements of accounting standards for accounting for stock-based compensation, for employees and directors whereby each option granted is valued at fair market value on the date of grant. Under these accounting standards, the fair value of each option is estimated on the date of grant using the Black-Scholes option pricing model.
	The Company also follows the guidance of accounting standards for accounting for equity instruments that are issued to other than employees for acquiring, or in conjunction with selling, goods or services for equity instruments issued to consultants.
	Effects of Recent Accounting Pronouncements
	In August 2014, the Finaancial Accounting Standards Board (“FASB”) issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40). The ASU requires all entities to evaluate for the existence of conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year after the issuance date of the financial statements.  The amendments in this update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted.  The Company is currently evaluating the impact of the updated guidance, but the Company does not believe that the adoption of ASU 2014-15 will have a significant impact on its consolidated financial statements but may impact the Company's footnote disclosures.
	In May 2014, the FASB issued ASU 2015-09, “Revenue with Contracts from Customers.” ASU 2015-09 supersedes the current revenue recognition guidance, including industry-specific guidance. The ASU introduces a five-step model to achieve its core principal of the entity recognizing revenue to depict the transfer of goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The updated guidance is effective for public entities for interim and annual periods beginning after December 15, 2016 and early adoption is not permitted. The Company is currently evaluating the impact of the updated guidance, but the Company does not believe that the adoption of ASU 2015-09 will have a significant impact on its consolidated financial statements.
	Shipping and Handling Costs
	The cost of shipping product to customers and distributors is typically borne by the customer or distributor. The Company records other shipping and handling costs in Research and Development. Total freight costs amounted to approximately $41,000 and $24,000 for the three months ended March 31, 2015 and March 31, 2014, respectively.
	Reclassifications
	Certain reclassifications have been made to the March 31, 2014 financial statements in order to conform to the 2015 financial statement presentation. There was no change in the reported amount of the accumulated deficit as a result of these reclassifications.

STOCKHOLDERS_EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2015
STOCKHOLDERS' EQUITY [Abstract]
STOCKHOLDERS' EQUITY		3	STOCKHOLDERS' EQUITY
	Preferred Stock
	In December 2014, the Company amended its articles of incorporation to reduce the total number of authorized shares of preferred stock. The amended articles of incorporation authorize the issuance of up to 5,000,000 shares of “blank check” preferred stock, with such designation rights and preferences as may be determined from time to time by the Board of Directors.
	During the three months ended March 31, 2014, the Company recorded non-cash stock dividends totaling $1,114,516 in connection with the issuance of 1,983.44 shares of Series B Preferred Stock and 43,994 shares of Series A Preferred Stock as stock dividends to its preferred shareholders. In October 2014, all outstanding shares of both the Series A and Series B Preferred Stock were converted to common stock. As a result of these conversions, there are no shares of Preferred Stock issued and outstanding as of March 31, 2015 and December 31, 2014, respectively.
	Common Stock
	On January 14, 2015, the Company closed an underwritten public offering (the “Offering”) consisting of 1,250,000 shares of common stock at a price of $8.25 per share for an aggregate price of $10,312,500.
	The Company received net proceeds from the Offering of approximately $9,409,000 million. The net proceeds received by the Company from the Offering will be used to fund clinical studies, expansion of production capacity, support various sales and marketing efforts, product development and general working capital purposes.
	The Company conducted the Offering pursuant to a registration statement on Form S-1 (File No. 333-199762), which was declared effective by the Securities and Exchange Commission on January 8, 2015. The Company filed a final prospectus on January 9, 2015, disclosing the final terms of the Offering.
	In connection with the Offering, on January 8, 2015, the Company entered into underwriting agreements with Brean Capital, LLC and H.C. Wainwright & Co., LLC (the “Representatives”), who are acting as book-running managers and as representatives of the underwriters in the Offering.
	In connection with the successful completion of the Offering, the underwriters received aggregate discounts and commissions of 6% of the gross proceeds of the sale of the shares in the Offering. In addition, the Company agreed to issue warrants to the Representatives (the “Representatives' warrants”) that allow for the purchase of 30,000 shares of the Company's common stock. These warrants had a fair value of approximately $30,000 on the date of the closing. The Representatives' warrants are exercisable at any time for a period of five years, commencing on the date of the effectiveness of the registration statement, at a price per share equal to 120% of the public offering price per share of the common stock in the Offering. The Company also agreed to reimburse the underwriters for actual out-of-pocket expenses related to the Offering, which amounted to approximately $85,000. The Company also granted the Representatives a right of first refusal to participate in any subsequent offering or placement of the Company's securities that takes place within nine months following the effective date of the registration statement.
	Stock-Based Compensation
	During the three months ended March 31, 2015, the Company incurred stock-based compensation expense due to the issuance of stock options and amortization of unvested stock options. The aggregate expense for the three months ended March 31, 2015 is approximately $64,000, of which approximately $48,000 was recorded in general and administrative expenses and approximately $16,000 was recorded as research and development expenses.
	The summary of the stock option activity for the three months ended March 31, 2015 is as follows:
							Weighted
							Average			Weighted
							Exercise			Average
							Price			Remaining
			Shares				per Share			Life (Years)
	Outstanding, January 1, 2015			2,302,187			$	5.37			6.1
	Granted			11,000				4.4			5.5
	Cancelled			(106,620	)			4.88			9.2
	Exercised			(11,396	)			4.18			6.1
	Expired			—				—			—
	Outstanding March 31, 2015			2,195,171			$	5.39			5.9
	The fair value of each stock option was estimated using the Black-Scholes pricing model which takes into account as of the grant date the exercise price (ranging from $8.70 to $11.48 per share) and expected life of the stock option (10 years), the current price of the underlying stock and its expected volatility (approximately 28%), expected dividends on the stock (0%) and the risk free interest rate (1.53 to 1.58%) for the term of the stock option.
	At March 31, 2015, the aggregate intrinsic value of options outstanding and currently exercisable amounted to approximately $18,350,000.
	The summary of the status of the Company's non-vested options for the three months ended March 31, 2015 is as follows:
							Weighted
							Average
							Grant
							Date
			Shares				Fair Value
	Non-vested, January 1, 2015			874,530			$	1.37
	Granted			11,000				1.21
	Cancelled			(106,620	)			0.06
	Vested			(384,326	)			0.06
	Non-vested, March 31, 2015			394,584			$	0.07
	As of March 31, 2015, the Company had approximately $339,000 of total unrecognized compensation cost related to stock options. In April 2015, the Board of Directors set aside a pool of 566,000 options to be awarded to the Company's employees if the Company achieves certain specific, predetermined milestones. The grant date fair value of these unvested options amounted to approximately $1,388,000. Due to the uncertainty over whether these options will vest, which only occurs if the Company meets the predetermined milestones, no charge for these options has been recorded in the consolidated statements of operations for the three months ended March 31, 2015. The Company will evaluate on an ongoing basis the probability and likelihood of any of these performance milestones being achieved and will accrue charges as it becomes likely that they will be achieved.
	As of March 31, 2015, the Company has the following warrants to purchase common stock outstanding:
	Number of Shares				Warrant				Warrant
					Exercise
	To be Purchased				Price per Share				Expiration Date
		70,000			$	2.5			16-Aug-15
		64,000			$	3.125			16-Aug-15
		53,335			$	3.75			16-Aug-15
		19,600			$	2.5			22-Oct-15
		7,840			$	3.125			22-Oct-15
		6,535			$	3.75			22-Oct-15
		20,000			$	2.5			19-Nov-15
		8,000			$	3.125			19-Nov-15
		6,667			$	3.75			19-Nov-15
		20,000			$	2.5			15-Feb-16
		56,000			$	3.125			15-Feb-16
		46,669			$	3.75			15-Feb-16
		9,605			$	31.25			24-Oct-16
		46,668			$	4.375			10-Feb-17
		149,600			$	3.75			21-Jun-18
		122,000			$	3.15			September 30, 2018
		48,960			$	7.5			11-Mar-19
		736,000			$	7.813			11-Mar-19
		30,000			$	9.9			14-Jan-20
		1,521,479

WARRANT_LIABILITY

WARRANT LIABILITY	3 Months Ended
	Mar. 31, 2015
WARRANT LIABILITY [Abstract]
WARRANT LIABILITY		4	WARRANT LIABILITY
	In connection with its March 11, 2014 offering, the Company issued warrants to purchase 816,000 shares of common stock. The Company recognizes these warrants as liabilities at their fair value on the date of grant, then measures the fair value of the warrants on each reporting date, and records a change to the warrant liability as appropriate. The warrants have certain pricing provisions which apply if the Company sells or issues common stock or common stock equivalents at a price that is less than the exercise price of the warrants, over the life of the warrants, excluding certain exempt issuances.
	The Company recognized an initial warrant liability for the warrants issued in connection with the Offering completed in March 2014. The initial warrant liability recognized on the related warrants totaled $862,920, which was based on the March 11, 2014 five-day weighted average closing price per share of the Company's common stock of $6.00. On March 30, 2015 and 2014, the five day weighted average closing price per share of common stock was $13.87 and $5.60, respectively. Due to the fluctuations in the market value of the Company's common stock from December 31, 2014 through March 31, 2015, the Company recorded a change in the fair value of the warrant liability of $2,007,926 during the three months ended March 31, 2015. Due to the fluctuations in the market value of the Company's common stock from March 11, 2014 through March 31, 2014, the Company recorded a change in the fair value of the warrant liability of $316,200 during the three months ended March 31, 2014.
	The assumptions used in connection with the valuation of warrants issued utilizing the binomial lattice valuation model were as follows:
			March 31,			March 31,
			2015			2014
	Number of shares underlying the warrants			736,000			816,000
	Exercise price		$	7.81		$	7.81
	Volatility			28.3	%		28.3	%
	Risk-free interest rate			1.12	%		1.73	%
	Expected dividend yield			0			0
	Expected warrant life (years)			3.95			4.95
	Stock Price		$	13.87		$	5.05

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES		5	COMMITMENTS AND CONTINGENCIES
	Employment Agreements
	The Company is currently in the process of renewing employment agreements with certain key executives.
	Litigation
	The Company is from time to time subject to claims and litigation arising out of the ordinary course of business. The Company intends to defend vigorously against any future claims and litigation. The Company is not currently a party to any legal proceedings.
	Royalty Agreements
	Pursuant to an agreement dated August 11, 2003, an existing investor agreed to make a $4 million equity investment in the Company. These amounts were received by the Company in 2003. In connection with this agreement, the Company granted the investor a future royalty of 3% on all gross revenues received by the Company from the sale of its CytoSorb® device. For the three months ended March 31, 2015 and 2014 the Company has recorded royalty costs of approximately $20,000 and $17,000, respectfully.
	License Agreements
	In March 2006, the Company entered into a license agreement which provides the Company the exclusive right to use its patented technology and proprietary know how relating to adsorbent polymers for a period of 18 years. Under the terms of the agreement, the Company has agreed to pay royalties of 2.5% to 5% on the sale of certain of its products if and when those products are sold commercially for a term not greater than 18 years commencing with the first sale of such product. For the three months ended March 31, 2015 and 2014, per the terms of the license agreement, the Company has recorded royalty costs of approximately $28,000 and $14,000, respectfully.

NET_LOSS_PER_SHARE

NET LOSS PER SHARE	3 Months Ended
	Mar. 31, 2015
NET LOSS PER SHARE [Abstract]
NET LOSS PER SHARE		6	NET LOSS PER SHARE
	Basic loss per share and diluted loss per share for the three months ended March 31, 2015 and 2014 have been computed by dividing the net loss for each respective period by the weighted average number of shares outstanding during that period.
	All outstanding warrants and options representing approximately 3,717,000 and 4,001,000 incremental shares at March 31, 2015 and 2014, respectively, as well as shares issuable upon conversion of Series A and Series B Preferred Stock representing approximately -0- and 9,048,000 incremental shares at March 31, 2015 and 2014, respectively, as well as potential shares issuable upon Note conversion into common stock representing approximately -0- and 649,000 incremental shares at March 31, 2015 and 2014, respectively, have been excluded from the computation of diluted loss per share as they are anti-dilutive.

PRINCIPAL_BUSINESS_ACTIVITY_AN1

PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2015
PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Nature of Business	Nature of Business
	The Company is a critical care focused immunotherapy company that uses blood purification to modulate inflammation with the goal of preventing or treating multiple organ failure in life-threatening illnesses. The Company, through its subsidiary CytoSorbents Medical Inc.(formerly known as CytoSorbents, Inc.), is engaged in the research, development and commercialization of medical devices with its platform blood purification technology incorporating a proprietary adsorbent, porous polymer technology. The Company, through its European Subsidiary, has commenced initial sales and marketing related operations for the CytoSorb® device in the EU. CytoSorb®, the Company's flagship product, is approved in the European Union and marketed in twenty-nine countries around the world, as a safe and effective extracorporeal cytokine absorber, 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. 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. In March 2011, the Company received CE Mark approval for its CytoSorb ® device.
	The technology is based upon biocompatible, highly porous polymer sorbent beads that can actively remove toxic substances from blood and other bodily fluids by pore capture and surface absorption. The Company has numerous products under development based upon this unique blood purification technology, which is protected by 32 issued U.S. patents and multiple applications pending, including HemoDefend™, ContrastSorb, DrugSorb, and others, with multiple patent applications pending both in the United States and internationally. The Company's intellectual property consists of composition of matter, materials, method of production systems incorporating the technology, and multiple medical uses with expiration dates ranging from 3 to 12 years.
Reverse Stock Split	Reverse Stock Split
	On December 3, 2014, the Company effected a twenty-five-for-one reverse stock split. As a result of this action, funds were shifted from the common stock account to the additional paid in capital account to reflect the par value of the reduced number of shares. All share, option and warrant information presented in these financial statements and accompanying footnotes has been retroactively adjusted to reflect the reduced number of shares resulting from this action.
Stock Market Listing	Stock Market Listing
	On December 17, 2014 the Company's common stock was approved for listing on the NASDAQ Capital Market (“NASDAQ”), and it began trading on NASDAQ on December 23, 2014 under the symbol “CTSO”. Previously, the Company's common stock traded in the over-the-counter-market on the OTC Bulletin Board.
Basis of Consolidation and Foreign Currency Translation	Basis of Consolidation and Foreign Currency Translation
	The consolidated financial statements include the accounts of the Parent, CytoSorbents Corporation, and its wholly-owned subsidiaries, CytoSorbents Medical, Inc. and CytoSorbents Europe GmbH. All significant intercompany transactions and balances have been eliminated in consolidation.
	Translation gains and losses resulting from the process of remeasuring into the U.S. dollar, the foreign currency financial statements of the European subsidiary, for which the U.S. dollar is the functional currency, are included in operations. Foreign currency translation losses included in net loss amounted to approximately $448,509 and $12,000 for the three months ended March 31, 2015 and 2014, respectively. The Company translates assets and liabilities of the European subsidiary, whose functional currency is their local currency, at the exchange rate in effect at the balance sheet date. The Company translates revenue and expenses at the monthly average exchange rates. The Company includes accumulated net translation adjustments in stockholders' equity as a component of accumulated other comprehensive income.
Cash and Cash Equivalents	Cash and Cash Equivalents
	The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
Grants and Accounts Receivable	Grants and Accounts Receivable
	Grants receivable represent amounts due from U.S. government agencies. Accounts receivable are unsecured, non-interest bearing customer obligations due under normal trade terms. The Company sells its devices to various hospitals and distributors. The Company performs ongoing credit evaluations of customers' financial condition. Management reviews accounts receivable periodically to determine collectability. Balances that are determined to be uncollectible are written off to the allowance for doubtful accounts.
Short-Term Investments	Short-Term Investments
	Short-term investments include certificates of deposit with original maturities of greater than three months. The cost of the certificates of deposit approximates fair value.
Inventories	Inventories
	Inventories are valued at the lower of cost or market. At March 31, 2015 and December 31, 2014, the Company's inventory was comprised of finished goods, which amounted to $191,6293 and $142,693, respectively; work in process which amounted to $452,949 and $326,047, respectively; and raw materials, which amounted to $58,343 and $68,826, respectively. Devices used in clinical trials or for research and development purposes are removed from inventory and charged to research and development expenses at the time of their use.
Property and Equipment	Property and Equipment
	Property and equipment are recorded at cost less accumulated depreciation. Depreciation of property and equipment is provided for by the straight-line method over the estimated useful lives of the related assets. Leasehold improvements are amortized over the lesser of their economic useful lives or the term of the related leases. Gains and losses on depreciable assets retired or sold are recognized in the statements of operations in the year of disposal. Repairs and maintenance expenditures are expensed as incurred.
Patents	Patents
	Legal costs incurred to establish and successfully defend patents are capitalized. When patents are issued, capitalized costs are amortized on the straight-line method over the related patent term. In the event a patent is abandoned, the net book value of the patent is written off.
Impairment or Disposal of Long-Lived Assets	Impairment or Disposal of Long-Lived Assets
	The Company assesses the impairment of patents and other long-lived assets under accounting standards for the impairment or disposal of long-lived assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. For long-lived assets to be held and used, the Company recognizes an impairment loss only if its carrying amount is not recoverable through its undiscounted cash flows and measures the impairment loss based on the difference between the carrying amount and fair value.
Warrant Liability	Warrant Liability
	The Company recognizes the fair value of the warrants as of the date of the warrant grant using the binomial lattice valuation model. At each subsequent reporting date, the Company again measures the fair value of the warrants, and records a change to the warrant liability as appropriate, and the change is reported in the statement of operations.
Revenue Recognition	Revenue Recognition
	Product Sales: Revenues from sales of products are recognized at the time when title and risk of loss passes to the customer. Recognition of revenue also requires reasonable assurance of collection of sales proceeds and completion of all performance obligations.
	Grant Revenue: Revenue from grant income is based on contractual agreements. Certain agreements provide for reimbursement of costs, while other agreements provide for reimbursement of costs and an overhead margin. Revenues are recognized when milestones have been achieved and revenues have been earned. Costs are recorded as incurred. Costs subject to reimbursement by these grants have been reflected as costs of revenue.
	Deferred Revenue: The Company defers revenue that has been received but not yet earned on government contracts and product sales. This revenue will be recognized as income in the period in which the revenue is earned. All deferred revenue is expected to be earned within one year of the balance sheet date.
Research and Development	Research and Development
	All research and development costs, payments to laboratories and research consultants are expensed when incurred.
Advertising Expenses	Advertising Expenses
	Advertising expenses are charged to activities when incurred. Advertising expenses amounted to approximately $51,000 and $116,000 for the three months ended March 31, 2015 and 2014, respectively, and are included in selling, general, and administrative expenses on the consolidated statement of operations.
Income Taxes	Income Taxes
	Income taxes are accounted for under the asset and liability method prescribed by accounting standards for accounting for income taxes. Deferred income taxes are recorded for temporary differences between financial statement carrying amounts and the tax basis of assets and liabilities. Deferred tax assets and liabilities reflect the tax rates expected to be in effect for the years in which the differences are expected to reverse. A valuation allowance is provided if it is more likely than not that some or all of the deferred tax asset will not be realized. Under Section 382 of the Internal Revenue Code, the net operating losses generated prior to the previously completed reverse merger may be limited due to the change in ownership. Additionally, net operating losses generated subsequent to the reverse merger may be limited in the event of changes in ownership.
	The Company follows accounting standards associated with uncertain tax positions. The Company had no unrecognized tax benefits at March 31, 2015 or December 31, 2014. The Company files tax returns in the U.S. federal and state jurisdictions. The Company currently has no open years prior to December 31, 2011 and has no income tax related penalties or interest for the periods presented in these financial statements.
	The Company's European subsidiary annually files a corporate tax return, VAT return and a trade tax return in Germany.
Use of Estimates	Use of Estimates
	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities. Actual results could differ from these estimates. Significant estimates in these financials are the valuation of options granted, the valuation of preferred shares issued as stock dividends and valuation methods used to determine the fair value of the warrant liability.
Concentration of Credit Risk	Concentration of Credit Risk
	The Company maintains cash balances, at times, with financial institutions in excess of amounts insured by the Federal Deposit Insurance Corporation. Management monitors the soundness of these institutions in an effort to minimize its collection risk of these balances.
	As of March 31, 2015, three distributors accounted for approximately 55% of outstanding grant and accounts receivable. At December 31, 2014, three distributors accounted for approximately 53% of outstanding grant and accounts receivable. For the three months ended March 31, 2015, approximately 42% of revenues were from three distributors. No other agency, distributor, or direct customer represented more than 10% of the Company's revenue. For the three months ended March 31, 2014, approximately 46% of revenues were from two U.S. government grant agencies, and no other agency, distributor, or direct customer represented more than 10% of the Company's revenue.
Financial Instruments	Financial Instruments
	The carrying values of cash and cash equivalents, short-term investments, accounts payable, notes payable, and other debt obligations approximate their fair values due to their short-term nature.
Net Loss Per Common Share	Net Loss Per Common Share
	Basic eanings per share is computed by dividing income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share gives effect to all dilutive potential common shares outstanding during the period. The computation of Diluted earnings per share does not assume conversion, exercise or contingent exercise of securities that would have an anti-dilutive effect on earnings (See Note 6).
Stock-Based Compensation	Stock-Based Compensation
	The Company accounts for its stock-based compensation under the recognition requirements of accounting standards for accounting for stock-based compensation, for employees and directors whereby each option granted is valued at fair market value on the date of grant. Under these accounting standards, the fair value of each option is estimated on the date of grant using the Black-Scholes option pricing model.
	The Company also follows the guidance of accounting standards for accounting for equity instruments that are issued to other than employees for acquiring, or in conjunction with selling, goods or services for equity instruments issued to consultants.
Effects of Recent Accounting Pronouncements	Effects of Recent Accounting Pronouncements
	In August 2014, the Finaancial Accounting Standards Board (“FASB”) issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40). The ASU requires all entities to evaluate for the existence of conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year after the issuance date of the financial statements.  The amendments in this update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted.  The Company is currently evaluating the impact of the updated guidance, but the Company does not believe that the adoption of ASU 2014-15 will have a significant impact on its consolidated financial statements but may impact the Company's footnote disclosures.
	In May 2014, the FASB issued ASU 2015-09, “Revenue with Contracts from Customers.” ASU 2015-09 supersedes the current revenue recognition guidance, including industry-specific guidance. The ASU introduces a five-step model to achieve its core principal of the entity recognizing revenue to depict the transfer of goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The updated guidance is effective for public entities for interim and annual periods beginning after December 15, 2016 and early adoption is not permitted. The Company is currently evaluating the impact of the updated guidance, but the Company does not believe that the adoption of ASU 2015-09 will have a significant impact on its consolidated financial statements.
Shipping and Handling Costs	Shipping and Handling Costs
	The cost of shipping product to customers and distributors is typically borne by the customer or distributor. The Company records other shipping and handling costs in Research and Development. Total freight costs amounted to approximately $41,000 and $24,000 for the three months ended March 31, 2015 and March 31, 2014, respectively.
Reclassifications	Reclassifications
	Certain reclassifications have been made to the March 31, 2014 financial statements in order to conform to the 2015 financial statement presentation. There was no change in the reported amount of the accumulated deficit as a result of these reclassifications.

STOCKHOLDERS_EQUITY_Tables

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2015
STOCKHOLDERS' EQUITY [Abstract]
Summary of Stock Option Activity							Weighted
							Average			Weighted
							Exercise			Average
							Price			Remaining
			Shares				per Share			Life (Years)
	Outstanding, January 1, 2015			2,302,187			$	5.37			6.1
	Granted			11,000				4.4			5.5
	Cancelled			(106,620	)			4.88			9.2
	Exercised			(11,396	)			4.18			6.1
	Expired			—				—			—
	Outstanding March 31, 2015			2,195,171			$	5.39			5.9
Summary of Status of Non-Vested Options							Weighted
							Average
							Grant
							Date
			Shares				Fair Value
	Non-vested, January 1, 2015			874,530			$	1.37
	Granted			11,000				1.21
	Cancelled			(106,620	)			0.06
	Vested			(384,326	)			0.06
	Non-vested, March 31, 2015			394,584			$	0.07
Warrants to Purchase Common Stock	Number of Shares				Warrant				Warrant
					Exercise
	To be Purchased				Price per Share				Expiration Date
		70,000			$	2.5			16-Aug-15
		64,000			$	3.125			16-Aug-15
		53,335			$	3.75			16-Aug-15
		19,600			$	2.5			22-Oct-15
		7,840			$	3.125			22-Oct-15
		6,535			$	3.75			22-Oct-15
		20,000			$	2.5			19-Nov-15
		8,000			$	3.125			19-Nov-15
		6,667			$	3.75			19-Nov-15
		20,000			$	2.5			15-Feb-16
		56,000			$	3.125			15-Feb-16
		46,669			$	3.75			15-Feb-16
		9,605			$	31.25			24-Oct-16
		46,668			$	4.375			10-Feb-17
		149,600			$	3.75			21-Jun-18
		122,000			$	3.15			September 30, 2018
		48,960			$	7.5			11-Mar-19
		736,000			$	7.813			11-Mar-19
		30,000			$	9.9			14-Jan-20
		1,521,479

WARRANT_LIABILITY_Tables

WARRANT LIABILITY (Tables)	3 Months Ended
	Mar. 31, 2015
WARRANT LIABILITY [Abstract]
Schedule of Warrant Liability		March 31,			March 31,
		2015			2014
	Number of shares underlying the warrants		736,000			816,000
	Exercise price	$	7.81		$	7.81
	Volatility		28.3	%		28.3	%
	Risk-free interest rate		1.12	%		1.73	%
	Expected dividend yield		0			0
	Expected warrant life (years)		3.95			4.95
	Stock Price	$	13.87		$	5.05

BASIS_OF_PRESENTATION_Details

BASIS OF PRESENTATION (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
BASIS OF PRESENTATION [Abstract]
Accumulated deficit	($129,111,062)		($124,394,120)
Net loss	($4,716,942)	($975,083)

PRINCIPAL_BUSINESS_ACTIVITY_AN2

PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	0 Months Ended	3 Months Ended
	Dec. 03, 2014	Mar. 31, 2015	Mar. 31, 2014
		item
Principal Business Activity and Summary of Significant Accounting Policies [Line Items]
Number of countries in which entity's product marketed		29
Stockholders' Equity Note, Stock Split, Conversion Ratio	25
Foreign currency translation losses		$448,509	$12,000
Minimum [Member]
Principal Business Activity and Summary of Significant Accounting Policies [Line Items]
Amortization Period		3 years
Maximum [Member]
Principal Business Activity and Summary of Significant Accounting Policies [Line Items]
Amortization Period		12 years

PRINCIPAL_BUSINESS_ACTIVITY_AN3

PRINCIPAL BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
			item
Concentration Risk [Line Items]
Inventory of finished goods	$1,916,293		142,693
Inventory of work in progress	452,949		326,047
Inventory of raw materials	58,343		68,826
Advertising	51,000	116,000
Freight costs	$41,000	$24,000
Grant and accounts receivable[Member] | Credit concentration risk [Member] | Distributor [Member]
Concentration Risk [Line Items]
Number of distributors	3		3
Concentration risk percentage	55.00%		53.00%
Revenue [Member] | Customer concentration risk [Member] | U.S. government agency [Member]
Concentration Risk [Line Items]
Concentration risk percentage		46.00%
Number of government agencies		2
Revenue [Member] | Customer concentration risk [Member] | Distributor [Member]
Concentration Risk [Line Items]
Number of distributors	3
Concentration risk percentage	42.00%

STOCKHOLDERS_EQUITY_Preferred_

STOCKHOLDERS' EQUITY (Preferred Stock) (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2015	Dec. 31, 2014
Stockholders Equity [Line Items]
Preferred Stock, shares authorized		5,000,000	5,000,000
Preferred stock dividends	$1,114,516
Preferred stock, shares issued		0	0
Preferred stock, shares outstanding		0	0
Series A Preferred Stock [Member]
Stockholders Equity [Line Items]
Issuance of shares of stock as a dividend	43,994
Series B Preferred Stock [Member]
Stockholders Equity [Line Items]
Issuance of shares of stock as a dividend	1,983.44

STOCKHOLDERS_EQUITY_Common_Sto

STOCKHOLDERS' EQUITY (Common Stock) (Details) (USD $)	0 Months Ended	3 Months Ended
	Jan. 14, 2015	Mar. 31, 2015	Mar. 31, 2014	Mar. 11, 2014
Stockholders Equity [Line Items]
Shares of common stock issued under underwritten public offering	1,250,000
Share price	$8.25			$6
Value of common stock issued under underwritten public offering	$10,312,500	$9,408,584
Proceeds from issuance of common stock	9,409,000
Number of securities called by warrants		736,000	816,000	816,000
Out-of-pocket expenses	85,000
Warrant [Member]
Stockholders Equity [Line Items]
Share price		$13.87	5.05
Underwriters discounts and commissions as a percentage of the gross proceeds of the sale of the shares in the Offering	6.00%
Number of securities called by warrants	30,000
Fair value of warrants	$30,000
Exercisable period	5 years
Exercise price as percentage of public offering price	120.00%

STOCKHOLDERS_EQUITY_StockBased

STOCKHOLDERS' EQUITY (Stock-Based Compensation) (Details) (USD $)	1 Months Ended	3 Months Ended
	Apr. 30, 2015	Mar. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$64,000
Aggregate intrinsic value of options outstanding and exercisable		18,350,000
Unrecognized compensation cost related to stock option		339,000
Non-vested options expected to vest	566,000
Grant date fair value of these unvested options		1,388,000
Research and development [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		16,000
General and administrative [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$48,000
Stock options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected life		10 years
Expected volatility rate		28.00%
Expected dividends		0.00%
Risk free interest rate, minimum		1.53%
Risk free interest rate, maximum		1.58%
Minimum [Member] | Stock options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price		$8.70
Maximum [Member] | Stock options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price		$11.48

STOCKHOLDERS_EQUITY_Summary_of

STOCKHOLDERS' EQUITY (Summary of Stock Option Activity) (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Shares
Outstanding, January 1, 2015	2,302,187
Granted	11,000
Cancelled	-106,620
Exercised	-11,396
Expired
Outstanding March 31, 2015	2,195,171	2,302,187
Weighted Average Exercise Price per Share
Outstanding, January 1, 2015	$5.37
Granted	$4.40
Cancelled	$4.88
Exercised	$4.18
Expired
Outstanding March 31, 2015	$5.39	$5.37
Weighted Average Remaining Contractual Life (Years)
Outstanding	5 years 10 months 24 days	6 years 1 month 6 days
Granted	5 years 6 months
Cancelled	9 years 2 months 12 days
Exercised	6 years 1 month 6 days

STOCKHOLDERS_EQUITY_Summary_of1

STOCKHOLDERS' EQUITY (Summary of Status of Non-Vested Options) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Shares
Non-vested, January 1, 2015	874,530
Granted	11,000
Cancelled	-106,620
Vested	-384,326
Non-vested, March 31, 2015	394,584
Weighted Average Grant Date Fair Value
Non-vested, January 1, 2015	$1.37
Granted	$1.21
Cancelled	$0.06
Vested	$0.06
Non-vested, March 31, 2015	$0.07

STOCKHOLDERS_EQUITY_Warrants_t

STOCKHOLDERS' EQUITY (Warrants to Purchase Common Stock) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	1,521,479
Warrant 1
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	70,000
Warrant Exercise Price per Share	$2.50
Warrant Expiration Date	16-Aug-15
Warrant 2
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	64,000
Warrant Exercise Price per Share	$3.13
Warrant Expiration Date	16-Aug-15
Warrant 3
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	53,335
Warrant Exercise Price per Share	$3.75
Warrant Expiration Date	16-Aug-15
Warrant 4
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	19,600
Warrant Exercise Price per Share	$2.50
Warrant Expiration Date	22-Oct-15
Warrant 5
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	7,840
Warrant Exercise Price per Share	$3.13
Warrant Expiration Date	22-Oct-15
Warrant 6
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	6,535
Warrant Exercise Price per Share	$3.75
Warrant Expiration Date	22-Oct-15
Warrant 7
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	20,000
Warrant Exercise Price per Share	$2.50
Warrant Expiration Date	19-Nov-15
Warrant 8
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	8,000
Warrant Exercise Price per Share	$3.13
Warrant Expiration Date	19-Nov-15
Warrant 9
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	6,667
Warrant Exercise Price per Share	$3.75
Warrant Expiration Date	19-Nov-15
Warrant 10
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	20,000
Warrant Exercise Price per Share	$2.50
Warrant Expiration Date	15-Feb-16
Warrant 11
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	56,000
Warrant Exercise Price per Share	$3.13
Warrant Expiration Date	15-Feb-16
Warrant 12
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	46,669
Warrant Exercise Price per Share	$3.75
Warrant Expiration Date	15-Feb-16
Warrant 13
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	9,605
Warrant Exercise Price per Share	$31.25
Warrant Expiration Date	24-Oct-16
Warrant 14
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	46,668
Warrant Exercise Price per Share	$4.38
Warrant Expiration Date	10-Feb-17
Warrant 15
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	149,600
Warrant Exercise Price per Share	$3.75
Warrant Expiration Date	21-Jun-18
Warrant 16
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	122,000
Warrant Exercise Price per Share	$3.15
Warrant Expiration Date	September 30, 2018
Warrant 17
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	48,960
Warrant Exercise Price per Share	$7.50
Warrant Expiration Date	11-Mar-19
Warrant 18
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	736,000
Warrant Exercise Price per Share	$7.81
Warrant Expiration Date	11-Mar-19
Warrant 19
Class of Warrant or Right [Line Items]
Number of Shares To be Purchased	30,000
Warrant Exercise Price per Share	$9.90
Warrant Expiration Date	14-Jan-20

WARRANT_LIABILITY_Details

WARRANT LIABILITY (Details) (USD $)	0 Months Ended	3 Months Ended
	Mar. 11, 2014	Mar. 31, 2015	Mar. 31, 2014	Jan. 14, 2015
Class of Warrant or Right [Line Items]
Number of securities called by warrants	816,000	736,000	816,000
Stock Price	$6			$8.25
Fair value of warrant liability upon issuance	$862,920		$862,920
Change in warrant liability		($2,007,926)	$316,200
Warrants [Member]
Class of Warrant or Right [Line Items]
Number of securities called by warrants				30,000
Exercise price		$7.81	$7.81
Volatility		28.30%	28.30%
Risk free interest rate		1.12%	1.73%
Expected dividend yield		0.00%	0.00%
Expected warrant life (years)		3 years 11 months 12 days	4 years 11 months 12 days
Stock Price		$13.87	$5.05

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	0 Months Ended	3 Months Ended		0 Months Ended
	Aug. 11, 2013	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2006
Royalty Agreements [Member]
Commitments and Contingencies Disclosure [Line Items]
Equity investment by an existing investor	$4,000,000
Future royalty payment percentage on gross gross revenue	3.00%
Royalty cost		20,000	17,000
License Agreement [Member]
Commitments and Contingencies Disclosure [Line Items]
Term of License Agreement				18 years
Royalty rate, lower limit				2.50%
Royalty rate, upper limit				5.00%
Royalty cost		$28,000	$14,000

NET_LOSS_PER_SHARE_Details

NET LOSS PER SHARE (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Stock Options and Warrants [Member]
Earnings Per Share Basic [Line Items]
Number of shares excluded from the calculation of diluted loss per share	3,717,000	4,001,000
Convertible Series A and Series B Preferred Stock [Member]
Earnings Per Share Basic [Line Items]
Number of shares excluded from the calculation of diluted loss per share	0	9,048,000
Convertible Notes [Member]
Earnings Per Share Basic [Line Items]
Number of shares excluded from the calculation of diluted loss per share	0	649,000