Here's Why Cytosorbents Is Up 17% Today

Shares of Cytosorbents Corporation (NASDAQ: CTSO) jumped 17.3% on Tuesday, spurred higher by news that the Investigational Device Exemption (IDE) request for its DrugSorb-ATR Antithrombotic Removal system has been approved by the U.S. Food and Drug Administration, allowing clinical trials of the device to move forward.

Cytosorbents' DrugSorb-ATR Antithrombotic Removal device just cleared another regulatory hurdle. Exempt from certain other steps that some medical devices must go through, the company can now begin testing the device, which allows patients undergoing heart bypass surgeries to curb the amount of blood-thinning drug ticagrelor in the bloodstream during and after the procedure. The device is to be used in conjunction with Cytosorbents' DrugSorb-ATR, which is a proprietary polymer capable of removing a variety of drugs and chemicals from the bloodstream more effectively than standard filtration technologies such as hemodialysis.

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Source Fool.com