Cerus Corporation Announces Record Fourth Quarter and Full Year 2020 Financial Results

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[{"type":"text","content":" CONCORD, Calif.--(BUSINESS WIRE)--\nCerus Corporation (Nasdaq: CERS) today announced financial results for the fourth quarter and year ended December 31, 2020.\n\nRecent developments and highlights include:\n\n\nRecord total fourth quarter and full year 2020 revenues of $33.6 million and $114.2 million, respectively. Total revenue was composed of (in millions, except %):\n\n\n\n\nRevenue by Segment\n\n\n\n \n\n\n\nThree Months Ended\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nTwelve Months Ended\n\n\n\n \n\n\n\n\n\n \n\n\n\nDecember 31,\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nDecember 31,\n\n\n\n \n\n\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\nChange\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\nChange\n\n\n\n\n\nProduct revenue\n\n\n\n \n\n\n\n$\n\n\n\n28.2\n\n\n\n \n\n\n\n$\n\n\n\n20.9\n\n\n\n \n\n\n\n35\n\n\n\n%\n\n\n\n \n\n\n\n$\n\n\n\n91.9\n\n\n\n \n\n\n\n$\n\n\n\n74.6\n\n\n\n \n\n\n\n23\n\n\n\n%\n\n\n\n\n\nGovernment contract revenue\n\n\n\n \n\n\n\n$\n\n\n\n5.4\n\n\n\n \n\n\n\n$\n\n\n\n5.6\n\n\n\n \n\n\n\n-3\n\n\n\n%\n\n\n\n \n\n\n\n$\n\n\n\n22.3\n\n\n\n \n\n\n\n$\n\n\n\n19.1\n\n\n\n \n\n\n\n17\n\n\n\n%\n\n\n\n\n\nTotal revenue\n\n\n\n \n\n\n\n$\n\n\n\n33.6\n\n\n\n \n\n\n\n$\n\n\n\n26.5\n\n\n\n \n\n\n\n27\n\n\n\n%\n\n\n\n \n\n\n\n$\n\n\n\n114.2\n\n\n\n \n\n\n\n$\n\n\n\n93.8\n\n\n\n \n\n\n\n22\n\n\n\n%\n\n\n\n\n\nProvided 2021 annual product revenue guidance of $106 million to $110 million, representing an approximately 15% to 20% increase over 2020 reported product revenue.\n\n\nReceived FDA approval for the INTERCEPT Blood System for Cryoprecipitation, which can now be used to produce two products: Pathogen Reduced Cryoprecipitated Fibrinogen Complex (PR-Cryo FC) for the treatment and control of bleeding, including massive hemorrhage, associated with fibrinogen deficiency, and a derivative product, called Pathogen Reduced Plasma, Cryoprecipitate Reduced.\n\n\nAnnounced the formation of a joint venture with Shandong Zhongbaokang Medical Implements that intends to develop, register, manufacture and commercialize the INTERCEPT Blood System for platelets and red blood cells in China.\n\n\nAnnounced Brazilian distribution partner, CEI, was awarded a three-year tender award for the INTERCEPT Blood System for platelets with the HemoMinas Foundation of Brazil. \n\n\nEnded 2020 with cash, cash equivalents, and short-t...

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