Cytosorbents Corporation (NASDAQ:CTSO) Q1 2024 Earnings Call Transcript

So, it’s probably a solid number for you to anchor yourself on right now.

Tom Kerr: Great. Thanks for the extra color on that. One more quick financial question from me, and then I’ll jump back in the queue. How do we think about grant income the rest of the year? Is that sort of the grant income sort of the steady state you received this quarter or do we get back up a million the rest of the year or per quarter for the rest of the year?

Phil Chan: Kathy, would you like to answer that?

Kathleen Bloch: Yes, I’d be happy to. So I think we can expect to see similar quarterly results for the rest of the year as to what we saw in the first quarter. However, I will point out that we are applying for new grants. And the reason that the grant income is lower is just because we completed three grants last year. So, the backlog is still strong at $5 million and we are expecting to build to that backlog. So we will see with more – with success on gaining some new grants, we would see that number likely come up again.

Tom Kerr: Great. That’s all the questions I have for now. Thank you.

Operator: At this time, I would like to turn the call back to management for any additional or closing remarks.

Eric Ribner: Well, thank you and thank you everyone for joining the call today. If you do have any other questions, please feel free to reach out to Kathy at kbloch@cytosorbents.com and we will reply to your questions where possible. We look forward to our next quarterly call. Thank you everyone very much. Good night.

Operator: Thank you. That concludes our conference for today. I’d like to thank everyone for their participation.