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) announced a three-year contract with HemoMinas Foundation in Brazil to supply the INTERCEPT Blood System for platelets. HemoMinas, the largest blood service in Minas Gerais, distributes around 25,000 platelet doses annually. The INTERCEPT system is vital for reducing pathogen risks including Zika and Dengue viruses. This contract underscores the importance of pathogen reduction in Brazil's blood safety strategy. The INTERCEPT system is the only one approved by ANVISA for commercial use in the country, supporting over 3.7 million collected blood components each year.
Cerus Corporation (Nasdaq: CERS) announced a clinical study on the efficacy of INTERCEPT-treated COVID-19 convalescent plasma, presented by Dr. Nina Khanna at the American Society of Hematology Annual Meeting on December 5, 2020. The study, involving 15 patients treated with INTERCEPT CCP, showed a 93.3% survival rate at day 28, compared to 20% in the control group. Conducted in collaboration with various research institutions, the findings highlight the potential of INTERCEPT technology in combating COVID-19 and improving patient outcomes.
Cerus Corporation (Nasdaq: CERS) announced FDA approval for the INTERCEPT Blood System for Cryoprecipitation, used to produce Pathogen Reduced Cryoprecipitated Fibrinogen Complex, critical for treating massive hemorrhage. This product, effective for up to 5 days at room temperature, holds FDA Breakthrough Device designation, signaling significant potential in emergency care. Cerus plans to launch in select states in 2021 and expand nationally in 2022, contingent on further regulatory approvals. This approval aligns with Cerus' mission to set pathogen reduction as the global standard for transfused blood components.
Cerus Corporation (Nasdaq: CERS) announced participation in two upcoming conferences: the Stifel Virtual Healthcare Conference on November 16 at 1:20 PM ET and the Stephens Annual Investment Conference on November 19 at 3:00 PM ET. Key executives, William ‘Obi’ Greenman and Kevin D. Green, will represent the company. A live webcast will be available on the Investor Relations page of Cerus' website, with replays accessible for about two weeks. Cerus focuses on blood safety technologies through its INTERCEPT Blood System.
Cerus Corporation (Nasdaq: CERS) reported Q3 2020 total revenue of $29.2 million, up 27.8% from $22.8 million year-over-year, driven by robust platelet kit sales in the U.S. and the EMEA region. Product revenue reached $23.6 million, a 31% increase, while government contract revenue rose to $5.6 million, a 15.7% increase. Cash reserves at quarter-end stood at $135.1 million. The company narrowed its 2020 product revenue guidance to $89 million to $91 million, attributing the adjustment to COVID-19's impact on blood supply.
Cerus Corporation (Nasdaq:CERS) will release its third quarter 2020 financial results on October 29, 2020, after market close. A conference call will follow at 4:30 P.M. ET to discuss the results and general business outlook. Investors can access the live webcast via Cerus' Investor Relations page. The INTERCEPT Blood System, which has received CE Mark and FDA approval, is the company's primary focus for ensuring safe blood products. The INTERCEPT Red Blood Cell system is currently in clinical development.
Cerus Corporation (Nasdaq:CERS) has secured an $11.1 million contract with the U.S. FDA to develop next-gen compounds for optimizing pathogen reduction (PR) treatment of whole blood. This initiative aims to enhance blood safety and reduce transfusion-transmitted infections. Cerus' program aligns with FDA's proactive strategies for blood safety, complementing its existing products for platelets and plasma. The potential breakthrough in whole blood PR technology could offer comprehensive safety solutions for transfusable blood components.
Cerus Corporation (Nasdaq:CERS) announced notable participation at the AABB 2020 Virtual Annual Meeting, taking place from October 3-5. The event will highlight vital advancements in transfusion medicine, including 17 abstracts presented by Cerus, featuring one oral presentation on optimizing platelet supply. Key focus areas include new FDA guidance on bacterial risk control for platelets and the economic impacts of implementing INTERCEPT Blood System strategies. Cerus remains committed to improving blood safety and is poised for advancements in its clinical studies.