Cerus Corporation Announces Record Fourth Quarter and Full-Year 2022 Financial Results

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[{"type":"text","content":"\nStrong Revenue Growth Driven by Sales in North America\n\nProduct Revenue of $44.0 Million Grew 10% YoY in the Fourth Quarter\n\nReiterating Full-Year 2023 Product Revenue Guidance Range of $165-170 Million\n\n CONCORD, Calif.--(BUSINESS WIRE)--\nCerus Corporation (Nasdaq: CERS) today announced financial results for the fourth quarter and full year ended December 31, 2022.\n\nRecent highlights include:\n\n\nFourth quarter 2022 and full-year 2022 total revenue was comprised of (in thousands, except %):\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n\n \n\n\n\nTwelve Months Ended\n\n\n\n\n\n\n\n\n\n\nDecember 31,\n\n\n\n\nChange\n\n\n\n \n\n\n\nDecember 31,\n\n\n\n\nChange\n\n\n\n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n%\n\n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n%\n\n\n\n\n\nProduct Revenue\n\n\n\n$\n\n\n\n44,034\n\n\n\n \n\n\n\n$\n\n\n\n39,865\n\n\n\n \n\n\n\n$\n\n\n\n4,169\n\n\n\n \n\n\n\n \n\n\n\n10\n\n\n\n%\n\n\n\n \n\n\n\n$\n\n\n\n162,048\n\n\n\n \n\n\n\n$\n\n\n\n130,859\n\n\n\n \n\n\n\n$\n\n\n\n31,189\n\n\n\n \n\n\n\n \n\n\n\n24\n\n\n\n%\n\n\n\n\n\nGovernment Contract Revenue\n\n\n\n \n\n\n\n7,287\n\n\n\n \n\n\n\n \n\n\n\n10,223\n\n\n\n \n\n\n\n \n\n\n\n(2,936\n\n\n\n)\n\n\n\n \n\n\n\n(29\n\n\n\n%)\n\n\n\n \n\n\n\n \n\n\n\n26,267\n\n\n\n \n\n\n\n \n\n\n\n28,659\n\n\n\n \n\n\n\n \n\n\n\n(2,392\n\n\n\n)\n\n\n\n \n\n\n\n(8\n\n\n\n%)\n\n\n\n\n\nTotal Revenue\n\n\n\n$\n\n\n\n51,321\n\n\n\n \n\n\n\n$\n\n\n\n50,088\n\n\n\n \n\n\n\n$\n\n\n\n1,233\n\n\n\n \n\n\n\n \n\n\n\n2\n\n\n\n%\n\n\n\n \n\n\n\n$\n\n\n\n188,315\n\n\n\n \n\n\n\n$\n\n\n\n159,518\n\n\n\n \n\n\n\n$\n\n\n\n28,797\n\n\n\n \n\n\n\n \n\n\n\n18\n\n\n\n%\n\n\n\n\n\nThe Company is reiterating its full-year 2023 annual product revenue guidance range of $165 million to $170 million.\n\n\nCash, cash equivalents, and short-term investments were $102.2 million at December 31, 2022.\n\n\n“Throughout 2022, Cerus continued to make significant progress towards its goal of safeguarding the global blood supply and advancing the complete INTERCEPT product portfolio. The Company’s efforts to establish INTERCEPT as the standard of care in various regions, most recently in the U.S., are evident in our financial results,” said William “Obi” Greenman, Cerus’ president and chief executive officer. “The success of the INTERCEPT platelet busin...

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