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 (CERS) maintains global leadership in blood safety through its INTERCEPT Blood System, a pathogen inactivation platform protecting transfusion medicine worldwide. This dedicated news hub provides investors and healthcare professionals with essential updates on regulatory milestones, clinical advancements, and operational developments.
Access timely reports on FDA clearances, European CE marks, and partnerships with blood centers across 40+ countries. Track progress in platelet and plasma treatment adoption, red blood cell system trials, and international expansion efforts. Our curated news collection ensures you never miss critical updates about this biomedical innovator.
Key coverage areas include quarterly financial results analysis, peer-reviewed study publications, manufacturing capacity expansions, and strategic collaborations with global health organizations. All content is verified through primary sources including company filings and official statements.
Bookmark this page for streamlined access to CERS developments impacting transfusion safety standards. Combine real-time alerts with historical context to understand Cerus' role in combating emerging bloodborne pathogens through cutting-edge nucleic acid targeting technology.
Cerus Corporation (Nasdaq: CERS) has received permanent HCPCS Level II codes from CMS for its INTERCEPT Fibrinogen Complex (IFC) and Pathogen Reduced Plasma, effective October 1, 2021. These codes will aid hospitals in billing for these innovative products, enhancing access to transfusion medicine. Earlier, Cerus announced a new technology add-on payment for IFC within the Medicare Hospital Inpatient Prospective Payment System. The INTERCEPT Blood System, which also includes IFC, is designed for treating massive hemorrhage and has FDA Breakthrough Device designation.
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.
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.
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.
