Welcome to our dedicated page for Cerus news (Ticker: CERS), a resource for investors and traders seeking the latest updates and insights on Cerus stock.
Cerus Corporation develops and supplies blood-safety technologies and pathogen-protected blood components for blood centers and hospitals. Its recurring news centers on the INTERCEPT Blood System for platelets and plasma, the U.S. INTERCEPT Blood System for Cryoprecipitation used to produce INTERCEPT Fibrinogen Complex, and the company’s red blood cell pathogen-reduction program.
Company updates commonly cover product revenue, gross margin trends, revenue guidance, government contract activity, international supply agreements, clinical studies involving pathogen-inactivated platelets, regulatory and pipeline developments, healthcare conference participation, and governance changes. Commercial disclosures often emphasize demand for INTERCEPT Fibrinogen Complex and adoption of pathogen inactivation technologies by blood establishments in the United States, Europe and other markets.
Cerus Corporation (Nasdaq: CERS) has appointed Ann Lucena, CEO of San Ramon Regional Medical Center, to its Board of Directors. With a strong background in healthcare management, Lucena's experience is expected to add valuable insights from the provider community as Cerus aims to expand its blood safety product portfolio. Daniel Swisher, Chair of the Board, expressed enthusiasm for her addition, highlighting the ongoing paradigm shift in transfusion medicine and the importance of blood safety. Lucena's prior roles include Chief of Staff at Tenet Healthcare and healthcare consulting.
Cerus Corporation (Nasdaq: CERS) reported a strong second quarter of 2021, achieving total revenue of $37.8 million, a 41% year-over-year increase. Product revenue rose to $31.5 million, up 46% from 2020, driven by demand for INTERCEPT platelet products. The company has raised its annual product revenue guidance to $118-$122 million, marking a projected 28%-33% growth over 2020. Despite a net loss of $15.4 million for the quarter, the firm maintains healthy cash reserves of $123 million as of June 30, 2021.
Cerus Corporation (Nasdaq: CERS) announced that CMS has granted a new technology add-on payment (NTAP) for INTERCEPT Fibrinogen Complex under the Medicare Hospital Inpatient Prospective Payment System (IPPS). The NTAP, applicable for patients with massive bleeding due to fibrinogen deficiency, allows additional payment of up to $2,535 per patient when costs exceed the MS-DRG payment. This decision supports improved access to this innovative blood product, enhancing care in urgent situations. The INTERCEPT Blood System for Cryoprecipitation received FDA Breakthrough Device designation and was approved in November 2020.
Cerus Corporation (Nasdaq: CERS) is set to release its second quarter 2021 financial results on August 3, 2021, after market close. A conference call and webcast will follow at 4:30 PM ET, where management will discuss the financial outcomes and provide a business outlook. Investors can access the call via the Cerus Investor Relations website or through dedicated phone lines for U.S. and international participants. The replay will be available until August 17, 2021. Cerus is focused on enhancing blood safety through its INTERCEPT Blood System, with products approved in multiple regions.
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Cerus Corporation (NASDAQ: CERS) has partnered with LifeSouth Community Blood Centers to produce INTERCEPT® Fibrinogen Complex, expanding its initial commercial launch into Florida. This addition marks LifeSouth as the fifth production partner, enhancing distribution capabilities to over one-third of the U.S. population, which includes Florida's significant healthcare infrastructure. Anticipated BLA approvals are set to support a nationwide launch in 2022. The initiative aims to address the critical needs for blood management in transfusion medicine.
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Cerus Corporation (Nasdaq:CERS) has signed a contract with Canadian Blood Services to implement the INTERCEPT Blood System for Platelets, marking its entry into the Canadian market. The initial rollout will begin in the Ottawa region in Fall 2021, pending Health Canada approval, with plans for broader implementation after extending the shelf life of pathogen-reduced platelets. Canadian Blood Services aims to manufacture approximately 115,000 platelet doses annually, focusing on minimizing transfusion-transmitted infections.
Cerus Corporation (Nasdaq: CERS) reported first-quarter 2021 revenue of $29.6 million, a 20% increase from $24.6 million in Q1 2020. Product revenue grew by 26% to $23.4 million, driven by heightened demand for INTERCEPT platelet products in the U.S. The company raised its annual product revenue guidance to $110-$114 million, indicating a 20%-24% growth from 2020. Gross margins decreased to 52.5% from 55.3% due to product mix changes. The net loss was $17.5 million, with operational cash usage narrowing to $18 million. Cash reserves stood at $132 million by March 31, 2021.
Cerus Corporation (Nasdaq: CERS) will release its Q1 2021 financial results on May 4, 2021, after market close. A conference call will follow at 4:30 P.M. ET for management to discuss the results and provide a business outlook. Interested parties can access the webcast through the company's Investor Relations page or join the call via designated phone numbers. Cerus focuses on enhancing blood safety and has developed the INTERCEPT Blood System, which is the only pathogen reduction technology with both CE mark and FDA approval for platelets and plasma.