Cerus reports Q3 EPS (2c), consensus (3c)

Reports Q3 revenue $50.7M, consensus $47.3M. “Our performance, both commercially and financially, was very strong for the third quarter,” stated William “Obi” Greenman, Cerus (CERS)’ president and chief executive officer. “In addition to the organic growth in our North American INTERCEPT platelet business, we are pleased to have secured meaningful additional U.S. manufacturing capacity for IFC with the new BLA approvals, which will allow us to address the growing demand for the product. As a result of our strong performance during the first three quarters coupled with our expectations for future growth in our business segments, we are raising our full year product revenue guidance and increasing the lower end of our IFC guidance. Beyond the top-line, we have also delivered on our bottom-line and cashflow targets for Q3. We believe we are on track to hit our full-year 2024 goals as the year wraps up. With respect to our development pipeline, we are pleased to have submitted our LED illuminator regulatory filing in Europe in the third quarter,” continued Greenman. “This much-anticipated new technology platform will enable operational improvements alongside the dependability that our customers have grown to expect from the INTERCEPT System. As we reported earlier this month, our RBC program remains a key focus for us in both the U.S., with the new BARDA contract accelerating a number of initiatives, as well as in the EU, where we anticipate an enhanced regulatory submission that we expect will incorporate the ReCePI Phase 3 clinical data.”