Business
Cerus Corporation Announces Preliminary Fourth Quarter and Full-Year 2022 Product Revenue and Provides Business Update
Preliminary Fourth Quarter and Full-Year 2022 Product Revenues of $44.0 million and $162.0 million reflecting year-over-year growth of 10% and 24%,
About this update from Cerus Corporation
[{"type":"text","content":"\nPreliminary Fourth Quarter and Full-Year 2022 Product Revenues of $44.0 million and $162.0 million reflecting year-over-year growth of 10% and 24%, respectively\n\n CONCORD, Calif.--(BUSINESS WIRE)--\nCerus Corporation (Nasdaq: CERS) today announced preliminary product revenue for the fourth quarter and full-year 2022 and provided product revenue guidance for full-year 2023.\n\nCerus’ unaudited preliminary product revenue for the fourth quarter of 2022 totaled $44.0 million, representing an increase of 10% over the $39.9 million recognized during the fourth quarter of 2021. The Company expects its unaudited preliminary full-year 2022 product revenue to be $162.0 million, which would be at the top end of the Company’s 2022 product revenue guidance range of $160-$162 million and reflect year-over-year growth of 24%. These preliminary full-year product revenue results have not been audited and are subject to change.\n\n“Cerus’ commercial execution in the fourth quarter of 2022 was consistent with our strong performance throughout the first three quarters of the year. We believe the continued growth in demand for the INTERCEPT Blood System, particularly in the U.S., reflected the ongoing resiliency of our business as well as the integral role played by pathogen reduction in safeguarding the global blood supply,” stated William “Obi” Greenman, Cerus’ president and chief executive officer.\n\n“Given the current macroeconomic environment, Euro to U.S. dollar exchange rates at or near parity, heightened volatility and resulting uncertainty, we expect 2023 to be a bridge year for the Company as we continue to build the foundation for broader INTERCEPT adoption,” continued Greenman. “While we may see the uncertainty and trepidation persist through 2023, we believe these will be most acutely felt during the first quarter as customers assess the year prior to entering into more normalized and consistent operations.” As a result of these factors, the Company expects full-year 2023 product revenue will be in the range of $165-$170 million.\n\n“We view the expanded adoption of our INTERCEPT Fibrinogen Complex product and the roll-out of the INTERCEPT Blood System in new geographies as drivers that, while challenging to forecast during this uncertain time, should become clearer throughout the course of the year and provide incremental growth ...