XML 32 R21.htm IDEA: XBRL DOCUMENT v3.25.2

COMMON STOCK, STOCK-BASED COMPENSATION AND WARRANTS (Tables)

6 Months Ended

Jun. 30, 2025

COMMON STOCK, STOCK-BASED COMPENSATION AND WARRANTS

Schedule of stock were valued on the date of issuance using the Monte Carlo pricing model with the following assumptions

​

​	​	​	​	​	​	​	​
​		Series A Right Warrant			Series B Right Warrant		​
Common Stock Price as of Issuance Date	​	$	0.94	​	$	0.94	​
Risk-Free Rate	​	​	4.31	%		4.27	%
Dividend Rate	​	​	0.00	%		0.00	%
Volatility	​	​	88.90	%		97.19	%
Minimum Exercise Price	​	$	1.00	​	$	2.00	​
Maximum Exercise Price	​	$	2.00	​	$	4.00	​
Formula for Exercise Price	​	​	90% of the 5-day volume weighted average stock price as of the exercise date rounded down to the nearest cent, not to fall outside the range of the maximum and minimum exercise prices.				​

Schedule of stock-based compensation expense

​

​	​	​	​	​	​	​
​		Three Months Ended June 30,
Stock-based compensation expense by category	​	2025		​	2024
​	​	(amounts, in thousands)
Cost of goods sold	​	$	32	​	$	—
Research and development, net of grant income	​		110	​		—
Selling, general and administrative	​		429	​	​	989

Total stock-based compensation expense ​ $ 571 ​ $ 989

​

​	​	​	​	​	​	​
​		Six Months Ended June 30,
Stock-based compensation expense by category	​	2025			2024
​	​	(amounts, in thousands)
Cost of goods sold	​	$	88	​	$	—
Research and development, net of grant income	​	​	247	​	​	—
Selling, general and administrative	​		1,056	​		1,949
Total stock-based compensation expense	​	$	1,391	​	$	1,949

​

Schedule of stock options activity

​

​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Weighted
​	​	​	​	Weighted		​	Average
​	​	​	​	Average		​	Remaining
​	​	​	​	Exercise Price		​	Contractual
​		Shares		per Share			Life (Years)
Outstanding, December 31, 2024		12,341,907	​	$	3.55	​	6.81
Granted		144,500	​	​	1.02		—
Forfeited		(97,514)	​	​	2.17		—
Expired		(187,177)	​	​	6.64		—
Outstanding, June 30, 2025		12,201,716	​	$	3.48		6.41

Schedule of fair value of each stock option estimated using the Black-Scholes pricing model

The Company estimated the fair value of stock options granted during the six months ended June 30, 2025 using a Black-Scholes pricing model, which used the following inputs:

​

​	​	​	​	​
Exercise price (per share)	​	$	0.82 - $1.30	​
Expected volatility	​		80.7	%
Expected term*	​		6.2 years	​
Risk-free rate	​		3.89% - 4.40	%
Dividends	​		0	%

​

*The expected term of the options granted is derived using the “simplified method” which computes expected term as the average of the sum of the vesting term plus the contract term. The simplified method is used as the Company’s employee exercise history may not be indicative for estimating future exercises. In addition, the Company recognizes forfeitures as they occur.
​

Schedule of intrinsic value

The intrinsic value is calculated as the difference between the market value of the shares as of June 30, 2025 of $1.28 and the exercise price of the shares.

​

​	​	​	​	​	​	​	​	​	​	​
Options Outstanding
​	​	Number	​	Weighted		​	Weighted	​	Aggregate
Range of	​	Outstanding at	​	Average		​	Average	​	Intrinsic
Exercise	​	June 30,	​	Exercise		​	Remaining	​	Value
Price		2025		Price			Life (Years)		(in thousands)
$0.82 - $13.20		12,201,716	​	$	3.48	​	6.41	​	$	1,064

​

​	​	​	​	​	​	​
Options Exercisable
Number	​	Weighted		​	Aggregate
Exercisable at	​	Average		​	Intrinsic
June 30,	​	Exercise		​	Value
2025		Price			(in thousands)
8,249,409	​	$	4.24	​	$	702

Schedule of company's non-vested options

​

​	​	​	​	​	​
​	​	​	​	Weighted
​	​	​	​	Average
​	​	​	​	Grant Date
​		Shares		Fair Value
​	​	​	​	​	​
Non-vested, December 31, 2024		6,234,550	​	$	1.09
Granted		144,500	​	$	1.02
Forfeited		(97,514)	​	$	2.17
Vested		(2,329,220)	​	$	0.80
Non-vested, June 30, 2025		3,952,316	​	$	1.24

Schedule of outstanding balance of restricted stock units

​

​	​	​	​	​	​
​	​	Total	​	Intrinsic Value
​	​	(amounts in thousands, except share data)
Outstanding, December 31, 2024		2,809,500		$	2,557
Granted		97,500		​	—
Vested	​	(35,000)	​	​	—
Forfeited		(39,500)		​	—
Outstanding, June 30, 2025		2,832,500	​	$	3,626

Schedule of the restricted stock unit activity

​

​	​	​	​	​	​
​	​	​	​	Weighted
​	​	​	​	Average
​	​	​	​	Grant Date
​		Shares		Fair Value
Non-vested, January 1, 2025		641,335	​	$	1.31
Granted	​	110,000	​	​	1.04
Vested		(139,000)	​	​	0.96
Unvested shares forfeited	​	(65,000)	​	​	0.96
Non-vested, June 30, 2025		547,335	​	$	1.39

X

- References

No definition available.

+ Details

Name:	ctso_ShareholdersEquityAndShareBasedPaymentsAbstract
Namespace Prefix:	ctso_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in outstanding nonvested shares.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration