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CytoSorbents starts common stock offering

Cytosorbents Corp. started an underwritten public offering of its common stock.

The company expects to grant the underwriters an option to buy an additional 15% of the shares offered.

Cytosorbents plans to use the net proceeds for general corporate and working capital purposes, including advancing its U.S. pivotal trial for the treatment of inflammation in conjunction with cardiac surgery.

Cowen and Co. is acting as the sole book-running manager and representative of the underwriters in the offering.