Business
Cerus Corporation Announces First Quarter 2022 Financial Results and Increases Full Year 2022 Product Revenue Guidance Range
Growth From All Geographic Regions with Results Driven by INTERCEPT Platelet Uptake in the U.S. Total Revenue of $43.0 Million Grew 46% YoY in the First
About this update from Cerus Corporation
[{"type":"text","content":"\nGrowth From All Geographic Regions with Results Driven by INTERCEPT Platelet Uptake in the U.S.\n\nTotal Revenue of $43.0 Million Grew 46% YoY in the First Quarter\n\nProduct Revenue of $37.4 Million Grew 60% YoY in the First Quarter\n\nIncreasing Full-Year 2022 Product Revenue Guidance Range from $157-164 Million to $160-165 Million\n\n CONCORD, Calif.--(BUSINESS WIRE)--\nCerus Corporation (Nasdaq: CERS) today announced financial results for the first quarter ended March 31, 2022.\n\nRecent developments and highlights include:\n\n\nFirst quarter 2022 total revenue of $43.0 million, reflecting a 46% increase over the prior year period. Total revenue was composed of (in thousands, except %):\n\n\n\n\n \n\n\n\n\nThree Months Ended\n\n\n\n\n \n\n\n\n\n\n \n\n\n\n\nMarch 31,\n\n\n\n\n \n\n\n\n\n\n \n\n\n\n\n2022\n\n\n\n\n2021\n\n\n\n\nChange\n\n\n\n\n\nProduct revenue\n\n\n\n\n$\n\n\n\n37,444\n\n\n\n\n$\n\n\n\n23,379\n\n\n\n\n60\n\n\n\n%\n\n\n\n\n\nGovernment contract revenue\n\n\n\n\n \n\n\n\n5,576\n\n\n\n\n \n\n\n\n6,187\n\n\n\n\n(10\n\n\n\n%)\n\n\n\n\n\nTotal revenue\n\n\n\n\n$\n\n\n\n43,020\n\n\n\n\n$\n\n\n\n29,566\n\n\n\n\n46\n\n\n\n%\n\n\n\n\n\nFirst quarter 2022 net loss attributable to Cerus Corporation of $12.3 million, or $0.07 per basic and diluted share, reflecting an improvement of $5.2 million over the prior year period of $17.5 million, or $0.10 per basic and diluted share, as a result of higher sales and continued operating discipline.\n\n\nAs of the date of this release, the Company is increasing its 2022 annual product revenue guidance range from $157-164 million to $160 million to $165 million, representing a 22% to 26% increase over full-year 2021 reported product revenue.\n\n\nThe Company announced that it has signed a multi-year contract for the INTERCEPT Blood System for Platelets with the American Red Cross, which is the largest producer of INTERCEPT-treated blood components in the world.\n\n\nThe Company and Fresenius Kabi announced a ten-year contract extension for the production of kits for the INTERCEPT Blood System. Under the new agreement, the companies will work together to expand scale at multiple Fresenius Kabi facilities, enabling manufacturing at additional locations and unlocking further economies of scale to improve the cost profile of INTERCEPT kits.\n\n\nCommunity Blood Center of Appleton bec...