CytoSorbents Corp. Expands Its Product Distribution to Include the Middle East


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OTC:BB:CTSO / OTC:BB:ESKO / OTC:BB:IGXT
04/25/2014 [ACCESSWIRE]

CytoSorbents Corp.’s (OTCQB: CTSO) stock volume surged Apr. 24, with 1,774,353 shares changing hands, higher than its three-month average volume of 1,703,870 shares.

The uptick in stock volume is tied in part to the Monmouth, N.J.-based medical device company’s recent announcement that it has expanded the distribution of its CytoSorb(R) extracorporeal cytokine filter to the Middle East.

The product will now be sold to Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain, and Oman (the Gulf Cooperation Council or GCC) and Yemen, Iraq and Jordan. This was made possible through an exclusive agreement with Techno Orbits. This multi-year agreement is subject to annual minimum guaranteed orders of CytoSorb(R) to maintain exclusivity. The specifics of the agreement were not disclosed.

On Apr. 24, I CTSO’s share price closed at 24 cents, up 1 cent from the previous day’s closing price of 23 cents.

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Kessler Foundation to Conduct Study on Ekso Bionics Holdings Wearable Robots

In other news, Ekso Bionics Holdings Inc. (OTCQB: EKSO), a robotic exoskeleton company, announced that Kessler Foundation, a global leader in rehabilitation research, has purchased a second exoskeleton, the Ekso GT.

It is to be used in a new study examining the effectiveness of wearable robots for neuro-rehabilitation and gait training.

Kessler Foundation is one of the first organizations to integrate the most recent evolution of this technology, which will be used solely to study its efficacy for patients with hemiparesis who are less than three months post-stroke.

To Enroll 10 Stroke Patients

Karen Nolan, PhD, research scientist in Human Performance & Engineering Research and Mooyeon Oh-Park, MD, assistant director of Stroke Rehabilitation Research for Kessler Foundation, are in charge of the pilot study.

The study plans to enroll 10 stroke inpatients from Kessler Institute for Rehabilitation to study patterns of mobility and gait parameters before using Ekso GT, during use and after use. They will measure several items including spasticity, range of motion and levels of assistance required in adults 18-75 years old.

"We're seeing that robotics in rehabilitation are having an increasingly positive impact on patient outcomes, and research such as this is key to furthering such progress," said Rodger DeRose, president and CEO of Kessler Foundation. "Exploring Ekso GT in the stroke population is an exciting new avenue for our mobility researchers.”

Exoskeleton Not New to Kessler

Kessler Foundation has used Ekso Bionics' previous generation exoskeleton for clinical research in patients with spinal cord injury since October 2011. Melissa Pullia, PT, ATP, clinical manager for Ekso Bionics, will work with Kessler's clinical team to integrate the newest device by training their physical therapists and researchers on new technology features which provide utility and efficacy specifically for stroke survivors. Today marks the completion of the first round of training, an additional week of comprehensive training will commence in May.

On Apr. 24, I EKSO’s share price closed at $3.50, up 70 cents from the previous day’s closing price of $2.80.

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FDA Acknowledges Receipt of IntelGenx Corp.’s Application on New Migraine Drug

Meanwhile, IntelGenx Corp.’s (OTCQX: IGXT) stock volume also Apr. 24 soared, with 2,408,255 shares changing hands, nearly double its three-month average volume of 1,337,963 shares.

The surge in volume comes on the heels of the Canadian bio-tech company’s Apr. 24 update that the U.S. Food and Drug Administration ("FDA") has acknowledged receipt of their response to the Complete Response Letter ("CRL") for the VersaFilm(TM) Oral Film Product New Drug Application ("NDA") and has requested further clarifications.

The VersaFilm(TM) Oral Film Product is a proprietary oral thin film formulation of rizatriptan for the treatment of acute migraines.

IntelGenx and RedHill reported on March 3, 2014 that they had submitted their response to the FDA's CRL for the VersaFilm(TM) Oral Film Product NDA, which had raised questions primarily related to Chemistry, Manufacturing and Controls (CMC).

In response, the FDA has requested from the Companies additional CMC data, which the Companies believe they can supply within several weeks based on available information.

On Apr. 24, IGXT’s share price closed at 83 cents, down 9 cents from the previous day’s closing price of 92 cents.

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