CTSO - Why CytoSorbents (CTSO) Stock Is Trading Higher | Benzinga

CytoSorbents Corp (NASDAQ:CTSO) shares are trading higher by 21% to $0.85 during Tuesday’s session after the company entered into a new $20 million credit facility with Avenue Capital Group.

The company says the funds will provide non-dilutive working capital to support the global CytoSorb® franchise in critical care and cardiac surgery, and aid in FDA and Health Canada applications for DrugSorb™-ATR.

The credit agreement has a three-year term and includes an initial $15 million tranche, with $10 million available immediately and an additional $5 million contingent on FDA acceptance of the DrugSorb-ATR De Novo application.

Meanwhile, a second $5 million tranche is available in late 2025, dependent on FDA clearance for DrugSorb-ATR.

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