CytoSorbents gains on U.S. grant for developing "universal plasma" device
09/09/2022 14:49
** Shares of CytoSorbents Corp CTSO.O rise ~6% to $1.79 in
early trade
** Co says the U.S. Department of Defense has awarded a
grant of nearly $2 mln over two years to support development of
its potential "universal plasma" device urn:newsml:reuters.com:*:nPnbKvgLba
** The grant is expected to help the development of co's
HemoDefend-BGA adsorber through a pre-clinical animal study to
test its safety and efficacy
** The adsorber is being developed to create plasma by
reducing two types of antibodies, anti-A and anti-B, that make
plasma blood-type specific during transfusions
** More than 3.5 mln units of plasma are needed in the U.S.
in a year - company
** As of last close, stock down ~60% YTD
(Reporting by Raghav Mahobe)
((Raghav.Mahobe@thomsonreuters.com;))