Stock Alert: CytoSorbents Up 30% On FDA's Approval To Use CytoSorb For COVID-19

(RTTNews) - Shares of CytoSorbents Corp. (CTSO) jumped nearly 30% on Monday morning after the company said the U.S. FDA said granted Emergency Use Authorization to its blood purification system CytoSorb for use in patients with COVID-19 infection.

CTSO is currently trading at $8.45, up $1.86 or 28.30%, on the Nasdaq.

Under the approval, CytoSorbents can sell CytoSorb to hospitals for use in patients aged 18 years or older, with confirmed COVID-19 infection, who are admitted to the ICU with respiratory failure.

CytoSorb is plug-and-play compatible with the most commonly used blood purification machines or pumps in the intensive care unit used to treat COVID-19 patients.

The FDA said that it has concluded the CytoSorb device may be effective at treating certain patients with confirmed COVID-19 by removing various pro-inflammatory cytokines from their blood.