Cerus Corporation ( (CERS) ) has realeased its Q3 earnings. Here is a breakdown of the information Cerus Corporation presented to its investors.
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Cerus Corporation, based in Concord, California, specializes in developing and supplying pathogen-protected blood components and technologies to ensure a safe blood supply, primarily within the healthcare sector.
Cerus Corporation reported a robust third quarter for 2024, marked by a notable increase in product revenue and a narrowed net loss. The company’s revenue growth was driven by its INTERCEPT Blood System products, and it has raised its full-year product revenue guidance.
The company achieved a 16% increase in product revenue for the third quarter, primarily due to growth in the North American market. Government contract revenue witnessed a decline, attributed to the completion of a significant clinical trial. Despite this, Cerus reported a positive non-GAAP adjusted EBITDA of $4.4 million, alongside a narrowed net loss of $2.9 million compared to $7.3 million in the same quarter the previous year. Cerus also announced a strategic partnership with BARDA and expanded its manufacturing capacity for the INTERCEPT Fibrinogen Complex.
Looking ahead, Cerus Corporation remains optimistic about achieving its full-year 2024 goals, with expectations for stable product gross margins and continued positive cash flows. The company is also focusing on advancing its development pipeline, including regulatory submissions for new technologies and products.
