Cerus Corporation Announces Record Second Quarter 2020 Results

About this update from Cerus Corporation

[{"type":"text","content":" CONCORD, Calif.--(BUSINESS WIRE)--\nCerus Corporation (Nasdaq: CERS) today announced financial results for the second quarter ended June 30, 2020.\n\n\nRecent developments and highlights include:\n\n\n\nQ2 2020 Total Revenue of $26.8 million - driven by robust year-over-year platelet kit sales growth in the U.S. and strong plasma and illuminator sales in our EMEA region. Total revenue comprised of (in millions, except %):\n\n\n\n\n\n\n\n \n\n\n\nQ2 2020\n\n\n\nQ2 2019\n\n\n\nChange $\n\n\n\nChange%\n\n\n\n\n\n\n\nProduct Revenue\n\n\n\n$ 21.5\n\n\n\n$ 18.2\n\n\n\n$ 3.3\n\n\n\n18.1%\n\n\n\n\n\n\n\nGovernment Contract Revenue\n\n\n\n5.3\n\n\n\n4.3\n\n\n\n1.0\n\n\n\n23.3%\n\n\n\n\n\n\n\nTotal Revenue\n\n\n\n$ 26.8\n\n\n\n$ 22.5\n\n\n\n$ 4.3\n\n\n\n19.1%\n\n\n\n\n\n\nReaffirming 2020 full year product revenue guidance range of $89 million to $93 million - an approximately 20% to 25% increase over 2019 reported product revenue.\n\n\nSubmitted a pre-market approval supplement (PMA-S) to the FDA for pathogen reduced cryoprecipitated fibrinogen complex with 5-day post-thaw storage.\n\n\nFinalized INTERCEPT Red Cell CE Mark modular submission schedule, in agreement with our notified body, under new MDR submission pathway, providing clarity on the timing and pathway for red blood cells, the most frequently transfused blood component globally.\n\n\nReached agreement with FDA on chronic transfusion clinical data required for PMA submission and submitted clinical protocol amendment for the existing Phase 3 RedeS study to allow for enrollment of sickle cell and thalassemia patients.\n\n\nAnnounced study results demonstrating that the INTERCEPT Blood System inactivates SARS-CoV-2, the causative agent for COVID-19, in plasma components intended for transfusion.\n\n\nAwarded a five-year tender by the Hong Kong Red Cross Blood Transfusion Services for INTERCEPT Blood System for platelets.\n\n\nCash, cash equivalents, and short-term investments of $136.5 million at June 30, 2020.\n\n\n\n“The benefits of pathogen reduced blood products have never been so prominent as they are now during the COVID-19 pandemic. Our Q2 results reflect the highest quarterly product revenue we have recorded to date at $21.5 million. This pandemic has made clear to us not only the resilience of our business during this time, but also the essential role that pathogen ina...

More updates from Cerus Corporation