CTSO - Earnings call transcript Q4 2019 | Cytosorbents Corporation

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Operator

Good afternoon and welcome to the CytoSorbents' 2019 Financial and Operating Results Conference Call. At this time, all participants are in a listen-only mode.

Following the formal remarks we will open the call for your questions. Please be advised that the call will be recorded at the company's request.

At this time, I would like to turn the call over to your moderator, Jeremy Feffer. Mr. ahead go Please Feffer.

Jeremy Feffer

and results Welcome conference Omar financial CytoSorbents' and operating good you, to afternoon. XXXX Thank

Capponi, Kathleen Joining Business President Dr. Christian Marketing Executive Vincent from Phillip today Steiner, Development. Chan, Operating me from of Chris Chief Officer the Senior Vice Germany; and Sales Officer; and Chief of Financial Bloch, company President are Chief Dr. Officer; and President; Vice Cramer,

Act of Actual Dr. prepared differ Chan, during I Safe may today, I'd in therefore, uncertainties to additional results today. of Before may over Harbor company questions and turn which with XXXX. that discussed forward-looking management's company's call from forward-looking Therefore, and your remind risks risks SEC. Management claims under statements, discussion the forward-looking refer to in more call, in detailed to for and the a remarks Reform filings you the the contain listeners statements these to we contained results subject protection Litigation may to the like statements Private are response Securities the uncertainties. make

as of projections and X, the Any the in assume by performance market these change. future we update obligation projections March no to XXXX today estimates as company's management include represented conditions to as future

During financial today's covering highlights call, Chan presentation we Ms. and will Bloch. have for operating Dr. the an overview and XXXX by

open the we line your the to will presentation, the the of rest with Following management Q&A their session questions, during team. live

Phil? this the over At call to Dr. pleasure my Phillip Chan. time, it's turn to

Phillip Chan

year of Product XXXX. driven XX% guidance million sales grant of we versus delivered product good sales up cumulative XX,XXX by XX% million, in quarter Revenue the made in XXXX much, decelerated XXXX, of progress. gross Thank from XX%, fourth quarter ago. We income the achieved we of and was total increase treatments direct by our and product Jeremy, $XX.X In CytoSorb everyone. And XXXX including blended very $XX.X margins you growth a in sales. fourth ago. year XX,XXX a afternoon, plus good

renewal to certification An CytoSorb September and was Mark our XXXX-XXXX manufacturing XXXX. our important the CE to milestone XXXX, of May ISO

We on a year XXXX approximately in throughout focus with strong XXX to our expanded employees commercialization. also by organization the XX%

to XXXX. cash extended also we XX and sell to where of operations distribution with through CytoSorb sales And now XX a our countries, fund total well We the we including own with capitalizing are clinical half direct force. of second studies countries

me our the Dominating headlines Allow the pandemic. COVID-XX progress. to summarize is

select many surging, France, is CytoSorb partnership COVID-XX Spain, Germany, First in out Limited, Holding We including others. annually. company through And than are of publicly Medical Hong in to countries the Kong China. traded were donated $XXX of made pharma hospitals with that Italy, rapidly specialty million Iran, with available initial and a on based new Wuhan cases more in where devices CytoSorb System China our China, sales

have learned patients at hospitals We with treated actively multiple CytoSorb. are being now multiple that

expected the data are available not clinical in to are Now available be outcomes. future. They the near on made yet

they and to Therapy in Standard mechanism Adults efficacy Patients, for one safety currently publish Coronavirus, of Hospital, most all have Pneumonia been this have and Severe China, trial from new ongoing from are with the collect of registered College Wuhan data recently in who Peking Combined Therapy, entitled in of patients Union order to hospitals that physicians part treating. prestigious As CytoSorb hospitals Medical a Adsorption process, a throughout treating patients

storm to to its treatment use have patients and now and issued cytokine XXXX, infection. blood days treat seventh the Commission includes On for ago, new diagnosis China who called the coronavirus critically Health March purification treatment of in That guidance updated coronavirus X severe just ill National pneumonia. recommendation

HHS, a joint well be need. CytoSorb and the agency submitted that manufacturing awaiting also documentation as have currently and are We're CytoSorb of the - ramping BARDA the U.S. of should are others CDC, FDA and feedback. our force and there as includes manufacturing to We to task devices others inventory that build

three of risk inventory the this existing year our products through with our easily be worked upon in increase based shelf Given business. life low underlying can

intended observations, concerning cases that high COVID-XX mild, we of but Currently, would relatively to to are X% coronavirus to Some mortality lower of X% one, this therapies exactly not CytoSorb contend is available the rate. what were so be if the is do. most

sort day realize to treatment single should investors make that complications world. all are the of reasons the of CytoSorb that applicable our around Secondly, every the therapy treats coronavirus what the of

cytokine with not organ is failure problem storm The COVID-XX. and unique to

common very is as market accounts in our surgery year-in deaths buy why do liver life stay. and should why illnesses cytokine cardiac other investors and but worldwide illnesses. our failure, stock is we each the Sepsis one and surgeries other reason complications Coronavirus burn it year-out fact, trauma, of for every syndrome day threatening core sepsis, every such five In they year. maybe release in injury, what and now, many

And clinical update. now turn a let to me

X-AKI CMO update So search. our our on REFRESH trial a and quick

close an We data. to of X-AKI have cover data scrubbing all remains which the our the to clinical patients do re-monitoring are closely of enroll working patients. additional on with these first We trial, XXX XXX and usable REFRESH new out CRO to for patients and not

usable. is data this of All

the request We enrolled first the of are and momentum quarter data address our XXXX, we able through to XXXX. the monitoring Provided to of goal by end of the [indiscernible] the also mid-XXXX. of analytical our trial, analysis of XXX get expect interim data regain company, the goal scheduled to is or patients restarting by data with with

we're Officer highly a new several search, search under Medical In and Officer our evaluation. have Medical conducting for Chief Chief candidates, more actively a terms with of qualified retained

search We A expect strategy quick ticagrelor UK to for and than study later TISORB our conclude months. on removal. the few the update next the no U.S.

of the February. end patients, to but delay The And was XXXX. a of by not XX of now of enrollment Part has with cardiac six UK the surgery of submitted TISORB was emergent study urgent approve that approved enroll was enrolled. centers expect UK agency one protocol MHRA just active now on in patients, second also products healthcare which we amendment to enable the eight to protocol. the committees waiting We're medicines this an and new this patients ethics the study half at currently regulatory regional by or patient

surgery. are this half for year. have In of no we expect forward U.S. FDA terms clear we during strategy, a to feedback And our path from the FDA removal with of the active on in cardiac first the ticagrelor the than later discussions

on an REMOVE. Now update

is REMOVE German to in the has the that recall you at being trial government. patients XXX I'm the pleased by And is As infective funded endocarditis say trial REMOVE that enrollment January. endocarditis completed

Data and data on all encouraging they from human stability essence is lock of a sepsis, to a database mid-XXXX. was head top surgery, separate single Currently, what line data from with post-operative center monitored upon as of incidence press the expected improved endocarditis University statistically I trial. being ICU REMOVE a series that dynamic XX note from and also recent retrospective a demonstrated lowered in analysis which goal of related the But is falling are REMOVE sepsis, debt outcomes trial. the as the of patient admission, case publication a on infective is release point would of of soon. to the well

issue We're now on And that we least, this. by pivotal very end for last the for HemoDefend. resolved. confirm been XXXX previously shortly, in U.S. devices to devices validation parameters with mid-XXXX. The by manufacturing had The but occur new the thereafter. Manufacturing to disclosed filed for efficacy trials will application pivotal has IDE and on bench the testing approved, be we to expected now shortly hopefully trial new to and expect follow U.S. not testing complete of

With to Kathy on highlights. me to allow that, Kathy? pass financial this

Kathleen Bloch

Thank you, good and afternoon, Phil, everyone.

now call, For today's an an capital addition, and audited provide provide quarter full fourth regarding financial around And I'll CytoSorbents update working update in and cash XXXX results. I'll runway. our year

increase a XXXX. of for a This million, record which approximately for The $XXX,XXX from product customers repeat direct dollar negative in average to product CytoSorb a euro increase quarterly an company driven and XXXX sales from quarter is XXXX million sales the customers. had on the $X.X orders were fourth in fourth new of over This $X.X impact sales product quarter fourth in XX% of quarter sales. by the increase represents rate of approximately was existing for decline exchange sales both new sales.

include $X.X million sales, total the compared and revenues, the product million grant of an Our of fourth fourth XX%. approximately increase $X.X to which XXXX, of quarter were quarter in approximately for approximately XXXX revenue,

our mentioned, $X.X is quarter of sales profit XX% that the achieved to approximately for $X.X company, or XXXX. a for very profit important production This compared gross for quarter quarter an by XXXX. to due $X fourth XX% of over XX% fourth of Our as for this grew of were million million, increase quarter which is company. the efficiencies the on margins fourth the this fourth were milestone roughly the Primarily as gross And profit Phil of is is million product approximately gross XXXX. and

for believe from sales for result million, approximately annual million approximately in $XX.X three our sales as XXXX. XXXX, increase to in This an was Turning in sell pause increase by by sales an product we which Germany. over $XX.X of us. we direct XX% approximately increase particularly Distributor driven is now $X.X behind a results and saw of this orders primarily a product $XXX,XXX, of issue approximately sales distributors, million were the

sales million is XXXX grant $XX compared sales. revenue. product On approximately just of XXXX a constant below revenues, XX%. XXXX, currency were basis, XXXX increase include approximately to and for revenue was an million which which have million, slightly an approximately our XXXX been total And $X.X would XX% revenue over XXXX $XX.X product grant grant of million, $XX.X as sales increase for which is product

$XX.X is over profit $X.X XXXX gross XXXX. million, or million was was approximately an gross of XX%, increase in profit which

were as product rose ROI our investment quarterly especially of infrastructure, look sales. our which in the direct with of product investments record time. in sales are XXXX. we'll million we of So in and and in sales XXXX quarter-over-quarter our the sales sales the direct our sales, we and marketing compared accelerate see the of of quarter additional And $X.X to in given XXXX at to the XX% fourth team the new our strength expect fourth sales we chart And product quarter seeing this on growth we a in that second half made

at we'll our of now sales. look year-over-year And product chart

quarter also, sales product of product continued $XX sales. XX% on XXXX constant sales which is year-over-year over fourth chart showing a Our the to also been And for the can have years, improve million, currency see, they XXXX of this gross would margins. Again, at you solid we're line as XXXX. over And an grow. increase product to which represents XX% now have our continued in

As achieved we XXXX, anticipate our into do product be move improve and they we margins. further will production efficiencies other gross will

fourth the XXXX. were continuing and reach our improvements continuing of our XXXX costs, operating quarterly restraint $X trial we as breakeven expect operating to sales With spend approximately quarter million away margins, defined future breakeven. clinical excluding gross operating growth, from before regard to the we in of product In with cash cash end

take capital at a we'll cash and now And position. working our look

As XXXX, cash. we million had approximately December of in XX, $XX.X

for our at XXXX, a million have The our mid-XXXX. approximately utilizing we've operations form Market additional a Xst position we cash equity additionally that and provides March by runway our XX-K, that in At January and trial X, support additional $XX.X future strategy clinical cash believe cash facility, an today minimum, We through into from ATM, the our disclosed cash in and generated this to solidifies

average provides of we During cost approximately price to an and funds the we for very us that way ATM XXXX, raise share the efficient per for company. do X.X shares and sold $X.XX believe at effective million an

have note ATM to we only stock utilized the important also when our strengthening. it's think price I historically, is that

million to our have Turning XXXX, common fully structure diluted outstanding XX, December capital shares a of we as basis. XX on

to my back turn at Phil. like time, the concludes this call And to and I'd remarks that

Phillip Chan

historically on completed. not specific quarterly you given has terms been Kathy. guidance, results in And until quarter Thank financial of has very the much, guidance, CytoSorbents

that well product product sales driven sales by expect first force international we quarter However, as quarter will sales. exceed strength XXXX in first our as XXXX sales direct

for would concludes current Moderator? remarks. prepared Q&A up our to session. live now it That I open a like

Operator

D'Silva instructions] question. Andrew Thank our Riley Company. question will proceed B. from We with FBR you. Please from [Operator take your today first

Andrew D'Silva

question calls. my this, ones. Hey, touch thank you you have if I very taking of for did did much to and I just between hop a a sorry have couple on quick couple

about, New inventory, of can Is look wouldn't finalized? and there on reorders. curious you you and relates And expect looks Fresenius Mexico could EU like, talk orders a should the First we the how to to in remaining off, just and like then South as with what Korea, need it what timing potential to be? they're that be cadence sense meaningful

Phillip Chan

Yes, think a France, we have and that be I inventory, in their order Czech the in have Republic to to done They Finland job Europe nice well actually down and quarter. in a countries. Fresenius has those and position been to expect working in potentially continue doing them this

Mexico South hopefully, about terms In South should driving Korea outbreak The a we've be by what and South followed remains may be of be stated hearing in should facilitator is But be soon. soon Korea. past Mexico But Korea. current the sometime registration seen. coming you Korea, Mexico online in in that to COVID-XX that earlier South to

Andrew D'Silva

during first something in the would for season And that this obviously, ability Plavix. it's CytoSorb market Thank just you, far are platelets standpoint. that I'm said from the you permanently accelerate an earnings bind been Brilinta, with make with does them then, as curious not non-starter? I Is label But to utilization the a still, dominant had share. expansion that company market as Plavix adoption will a other have there capturing for potential a Plavix or share actually

Phillip Chan

very Yeah, question. good a it's

covalently technically and Brilinta, the platelet are are Plavix It bind called Prasugrel only platelet and that the are ticagrelor PXYXX of receptor So function out antiplatelet so turns the interestingly, to reversible Plavix, clopidogrel agents technically Prasugrel or also Ticagrelor is reversible. and and not common inhibitors three PXYXX clopidogrel today Effient. that irreversible are inhibitor. and or

to approved claim. reversibility However, agents, on the able lack because of of reversal been that any capitalize have they never

or As that's bleeding, be a a reverse motor are or require imagine, to bleed you in a surgery ticagrelor. vehicle are to and sudden in feature who GI emergency involved important who have able can very very helpful accident because be would patients

demonstrated that's think emergency to the St. cardiac Germany. to last Georg during believe surgery. these what for reverse the But this prescribing when table. Hamburg, was from antiplatelet used into cardiopulmonary when effects can that Hospital in study an was patterns this published I CytoSorb open during the a And bypass circuit actually we change potential year Asklepios agents. it heart now fight is observational What to of current ticagrelor has CytoSorb surgery brings again that in the remove placed

typically share. inexpensive. And is of as currently - multiple well, used inferior in who, third a with Today, patients very the and two, antiplatelet in up in in studies. does the work it terms States acute and the though infarction not other about the of who it inexpensive. it's been Plavix is in because on coronary is present of agent. prescribed to is shown is to more But has market terms because typically elsewhere Ticagrelor market myocardial be than with United patients or hospital syndrome, loaded today, frequently typically Prasugrel they an Even it's are much

kind problems, underlying disease, because bypass other fix genic any of or such artery. graft left dissection cabbage. of there that surgery that included to interventional or are - main PCI, with agents, require or percutaneous the complications acute on However, patients today, cabbage cardiologists XX% their having require a open undergo placement of we or reasons in with or as antiplatelet or will by shock roughly patients stent multi the heart disease of placement to Also and vessel not these and or like coronary coronary so coronary ischemia, syndrome intervention surgery will stent cardio loading for candidates things of coronary is be understanding that believe intractable

tendency antiplatelet on we will the to during going could that, and reversal be cardiologists in time. Today, open of indiscriminately they're on fatal agent agents. that a forward, over cabbage, there a cabbage now and loaded is there the unwanted Ticagrelor bleeding. But interventional to surgery prevent load that heart think these patients antiplatelet know used potentially be Ticagrelor patients postoperatively that agents one for prescribe up emergency

off Ticagrelor with reverse decrease believed Plavix need currently And for XXXX, and it's is will go patent, that significantly. to that also also the differential to clopidogrel that be by Ticagrelor a not is Ticagrelor the And Because cost used should us. advantage major and that of between ability Prasugrel. Hopefully there sense. a given makes

Andrew D'Silva

No, color there. X,XXX Great perfect could sense. questions. I ask

So I'll just ask me. let one more so

do have How [ph] As Pharma been progress you Portola I for as landscape, and companies, should a and a pharma antidote Brilinta. when the at they being rivaroxaban that agent as device? and then, about their the co-marketing utilized being far driver potential about you PhaseBio are start macro think, for and as versus generic a the And drugs thinking reversal something you we with made think the there’s with given the name we expect down drugs a road? potential looking - got is

Eric Mortensen

So of one has to remove inhibitors, be which has rivaroxaban is to and to PXYXX of just apixaban. demonstrated remove demonstrated ticagrelor, but all, to first the been both able not an be been CytoSorb able platelet also

For rivaroxaban eliquis, XX is worldwide billion has and $X of in the rivaroxaban in has are class in Xarelto apixaban inhibitors. then that which And worldwide called billion also factor about and also antibiotics Apixaban sales. called sales. which about currently XXA

and surgery the effective expensive has thrombotic, of patients also undergoing in warning our upon and drug. is reversal only factor XXA infusion. cardiac very pro surgery being given inhibitor that why the the reversal the reversal the of they that cardiac also data for It So we market which therapy on agent are is is a is agent presented, a a time currently be blackbox would better agent - only based patients Portola's the Andexxa during negative reasons

reversal to product is that expire this not biologic ticagrelor. have it in with PhaseBio, the with is at of cost soon, It a that But for or be next a of - that quarter. competitive a of will a hospital. high agent and getting end very the I Phase that a this the study meaning quarter be Xb cost technically repurchase a terms X right to now, and study that the day, is given is Phase is currently goal well, at by on it's again, shelf, our product, will biologic think, In it

how see the work out. we'll so And dynamics

we believe installed surgery, use cardiac and a for per of of $X,XXX. a that relatively effective machine, demonstrated is save even But year, our bypass the that projected in has patient as device study a reasonable and cost would the showing easily cardiopulmonary taking which into that last product came device cost, the that into the cost consideration out hospitals we've

CytoSorb a to that very this application believe We would surgery for able actually be therapy cardiac use in to easy patients. be

so we'll out. And how that see turns

for label being removal now countries. currently countries all that and So so the being currently now cardiopulmonary have cardiac This surgery. is said, to include distributed, bypass all CytoSorbs CytoSorb the we is ticagrelor expanded to XX during where applicable

are antithrombotic other that agents to as well. And also we to expand working

also working have this in using we’ll soon. I on my on mentioned U.S. We as And that are hopefully for regulatory more as again, detail a path. springboard potential comments,

Andrew D'Silva

related of to which part last that get I’ll is Yeah, with partnering question, Pharma.

to least a mean, in be to they into is partnership a from still at interim, there window generics able have start while connection some example, together the PhaseBio before standpoint. of trial, But market. recapitalize in a left clinical actually, small they I the for coming have sort AstraZeneca

their work standing, them you help lot to to adoption. with I'm sense with where a from of for Just make

Phillip Chan

are their is pharmaceutical think I for ones their maximize drugs, key very further to opportunity that lot the goal particularly a pipeline. Well, of revenue of that the manufacturers to

a to or ability very And able to and competitors a market the be attractive market. should dominate potential dominate the to that to eliminate be so market from

So that's at say all can this time. I

Andrew D'Silva

going Okay, great. Thank you forward. of much. very luck Best

Phillip Chan

Thank you. Thanks, Andy.

Operator

is Our question Jennings question. Cowen. proceed with Please with Josh from next your

Unidentified Analyst

the Josh, on Eric for for is thanks question. this taking Hi,

think associated in when how of the We're CytoSorb's trying at many outcomes can treatment case-by-case it's announced? to use to COVID-XX with intend looking just a on China Do reported Just cases China. be you in report basis?

Phillip Chan

goal be patients those therapy create some I is to think in patients. here sufficient of make number that the of the efficacy a able of to assessment type to of

what I we've think patients multiple treated at being are that seen is hospitals. multiple

strong as think scientists I that, motivated all experience very There that's there this helpful there And publication, to spreading achieving corners with get anything China a the with that so given most coronavirus having those now of in to of researchers it's And interest studies globe. how this terms published. of to very in do are is a it's very this, are goal.

that timely is hope those of evaluation, in comes fashion. our available made So whatever very a that this are data

Unidentified Analyst

possible you Thank can a we you. earliest And just what's for that the be in great. that think you like you of generally study? timelines think anything and you. outline ticagrelor or U.S. for the Thank look Is number then for That'd could what terms points to of see trial removal. patients it with

Phillip Chan

first In regulatory in half believe. we year, terms better the of this sense path will a timeline, of we again, have, of

of you some been in agents reversal reversal at drug. involving, of endpoints set of look are a clinical platelet precedent of specific other there's effects reversal for of, inhibition certain example, the for a If or the studies, that the

looks But better let on that the clarity you some like. So what definitely know. once we have we see we'll will path,

Unidentified Analyst

the Great, thank you questions. for

Operator

Lee is Wainwright. with question H.C. question. your Our next proceed Please from with Sean

Sean Lee

uses. a question Hi, COVID-XX And for congratulations on quarter. My great guys, is thanks first the questions. on taking my

in perhaps the the that also joint any of use partnered other mentioned are US. you've You to CytoSorb task But governments to in in on working and you you've documents this? China Europe the submitted force with

Phillip Chan

already relationships. we get We these countries are have working hospitals with to various in where experience treatment

basically need goal with that necessarily it drive But Union registration. Korea, data. said, the necessary. other work the is there these se. not The experience European and to pending a in government South with aware as there's to per intensivists approved of being surging, treatment and to work the we're exception countries where already where We're you're with are So, not is cases

Sean Lee

margins, - whether in for clarification I you so on where for thanks And hit can do three improvements see the see secondly, get years? gross year. the see year, that. XX%. of And two can year you further I And high we this next last a this to it to the was wondering

Phillip Chan

Let comment that, on me turn you please? over that to Vince, could Vince.

Vincent Capponi

Hi, Thanks, Sean. Sure. Phil.

margins, the plays that on upside mix still we on margins or number the have that, to have we then product working efficiency. downs also in we by the gross gross Regarding and is of a role obviously cost we're increased but crease a continue to improve

we will as the upside somewhat what So see mix. the still what but in Sean are to upon be dependent really it volumes opposed production product

now, So it volume it two we this we this If at exactly where would definitely be maintain difficult where north would where three from and point from increase to we of be be or are volume today. years we should this project but are.

Sean Lee

That's great last My hear. to questions on HemoDefend.

pivotal close the be end is contract that expect IDE would partner year. to this IND to what's of the a study - for mentioned file expected or and would I to sorry manufacturing like? be you that was resolved funded? the And that conducted You independently under issue been has wondering look

Phillip Chan

Yes.

reduce So sure device to receiving in our circulation. their by is HemoDefend blood packed the filter, Approximately that's that longevity longevity straightforward really doing would HemoDefend is blood volunteers they our healthy that and study relatively been a the making XX treated untoward trial. as anything is not blood it cell pivotal red cells a

products done very other the a is that for straightforward time. it's So all study commonly

said, be to And as - Institute. Heart, that special and have we're that SOCOM, needs itself phase this split current funding, Lung SOCOM. by the as additional by terms also the grant, been of in the by grant that was awarded National by the so we division approximately program be Heart, Blood the that on NIH, well expenses. a part Institute, study done of ops which a subsidized is or XX-XX from the XX% Blood this of tune and But testing a has funded And will of U.S. believe to being that in Lung, $X command funded million, we study National

Sean Lee

I Thanks all taking my questions. have. That's for Great. again

Phillip Chan

Sean. Thanks,

Operator

from Please [Operator Instructions] Asset is Evergreen your Terry [ph], question question. Our Management. next with Jeb proceed

Unidentified Analyst

can Phil. you Hello, Phil, me? Good hear afternoon,

Phillip Chan

I Yes, can.

Unidentified Analyst

Okay, to the some guidelines great. Three is China questions, comply for than way with one these there Chinese hospital a other use guidelines, other on CytoSorb?

Phillip Chan

have common the we've do. There And into believe superior care. that a clinical disclosed wanting our that, clinical to related has we of to again, get trying most is coronavirus, critical as we do too couple in purification of any companies much Blood not what we to detail, type of a XX-K. sepsis technology of the in wide of factors in complications complications applications complications variety data or or of are

that we blood therapy, reason, the purification leading care critical believe we are For today. that in therapy

Unidentified Analyst

as there's this. presumably in be it guidelines - China? no to guidelines those right can't compliance, then So way actually those put There's no if stands will, you

Phillip Chan

that data of other factors. guidelines not mechanism and mandatory These [indiscernible] they're also are action are guidelines. No, and

Unidentified Analyst

this. then isn't like This prospective who's there I guess someone Right. you already But you do China like would is to to kind there. else sounds of what doing see

in refresh your what's your relative if okay. ability took capacity memory, what your So on Then So second meet that Can demand? and be the inventory. off would really of is? building things China you to my thing to is elsewhere,

Phillip Chan

Vince, you would to like take question? that

Vincent Capponi

Sure. the you capacity second part an we've Again, the will. of units. business, if Jeff, upgrade support plant, we we talked the $XX have recently about specifically up just always be enough previously, with coming out so to to the never part we've of that we stated started million our second

is And so capacity that online. now

So would to it fair be and current of China price. address we but needs we that amount a $XX to billion up rest on world in able capacity for could based have roughly of that business, utilize today be to matter, an

Unidentified Analyst

I forward being that look you challenged on Well, to capacity.

Vincent Capponi

problem good a to I agree. it's Yet, have,

Unidentified Analyst

be That will great profit.

are active treating respect in with hospitals quite your product. point? they familiar And Italy's European Are their utilizing, to so in patients fact now at with - example. patients Italy, having are for this fact they these issues. And Are that you the hospitals, our in Italy

Vincent Capponi

our other use product as for illness, So we throughout critical know that every many and Italy such hospitals things. sepsis day

have the we we new about a whether not product delay what yet heard are hospitals hear has on. any there's using not often for that before applications, what yet. or We particularly But is feedback been going find

is So get to our when try that again I But that treatments we therapy, our actively information. comes are Aferetica using out successful to certainly information distributor, like we with working that if would it there think out. get are to something

Unidentified Analyst

Can a in give us with or you And timeline thing last with with might or entailed sense What's what? the what the of process been U.S. what, discussions sounds that? about, one in that Mike, task be you what treating you've to like, for coronavirus. said that force

Phillip Chan

is and as said space. have develop are we discussions trying BARDA many other we've preliminary we've materials What on that either this have therapies with to application for submitted diagnostics or our had that companies this

that that that particularly approach applications, product a I think United many have States. the we very in unlike have those theoretical in our are And for companies unique used actually application. companies are the one few in, of is a being that

Cardiovascular working the you to as and think the know, So know we clear, not conglomerate. although of a we on partners that we that which be so, to get our are into have is Terumo I is patients Japanese strategy market one actively aside from a - about Japanese -

our desire product our Israel, it of currently are Medical. terms they is there. Gad in distributor, And in available Israel registered Israel if already and available use to In we are through so

Unidentified Analyst

you thank begin details refresher. I see mean, Because And I Japan Okay, will higher appreciate are testing just now. the right those they people. really jump when the in critical rates I do think you.

you. thank So

Phillip Chan

Jason. Thanks,

Operator

I time, remarks. this like for additional would to or closing back turn any it management At to

Jeremy Feffer

for in everyone today's participating call. Well, thank you

If at to try J-E-R-E-M-Y will you very you have additional please Have advisors.com where Jeremy to everyone. @lifesci out to a questions we questions, and Jeremy reach any Feffer possible. reply night. your much good Thank

Cytosorbents (CTSO) 5 Mar 202019 Q4 Earnings call transcript