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Cerus Corporation Announces Record Third Quarter 2021 Financial Results and Raises Full-Year Product Revenue Guidance
Accelerating Revenue Growth Driven by U.S. Adoption of INTERCEPT Platelets Total Revenue of $42.1 Million Grew 44% in the Third Quarter Product Revenue of
About this update from Cerus Corporation
[{"type":"text","content":"\nAccelerating Revenue Growth Driven by U.S. Adoption of INTERCEPT Platelets\n\nTotal Revenue of $42.1 Million Grew 44% in the Third Quarter\n\nProduct Revenue of $36.1 Million Grew 53% in the Third Quarter\n\nFull-Year 2021 Product Revenue Guidance Range Raised to $127-129 Million\n\n CONCORD, Calif.--(BUSINESS WIRE)--\nCerus Corporation (Nasdaq: CERS) today announced financial results for the third quarter ended September 30, 2021.\n\nRecent developments and highlights include:\n\n\nThird quarter 2021 total revenue of $42.1 million, reflecting a 44% increase over the prior year period. Total revenue was composed of (in thousands, except %):\n\n\n\n\n \n\n\n\nThree Months Ended\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nNine Months Ended\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\nSeptember 30,\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nSeptember 30,\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\nChange\n\n\n\n \n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\nChange\n\n\n\n\n\nProduct revenue\n\n\n\n$\n\n\n\n36,131\n\n\n\n\n23,607\n\n\n\n\n53\n\n\n\n%\n\n\n\n\n$\n\n\n\n90,994\n\n\n\n\n63,721\n\n\n\n\n43\n\n\n\n%\n\n\n\n\n\nGovernment contract revenue\n\n\n\n \n\n\n\n5,970\n\n\n\n\n5,584\n\n\n\n\n7\n\n\n\n%\n\n\n\n\n \n\n\n\n18,436\n\n\n\n\n16,938\n\n\n\n\n9\n\n\n\n%\n\n\n\n\n\nTotal revenue\n\n\n\n$\n\n\n\n42,101\n\n\n\n\n29,191\n\n\n\n\n44\n\n\n\n%\n\n\n\n\n$\n\n\n\n109,430\n\n\n\n\n80,659\n\n\n\n\n36\n\n\n\n%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\nAs of the date of this release, the Company is increasing its 2021 annual product revenue guidance range to $127 million to $129 million (from the prior guidance of $118 million to $122 million), representing an approximate 38% to 40% increase over full year 2020 reported product revenue.\n\n\nOn October 1, 2021, the U.S. Food and Drug Administration’s (FDA) final guidance document on bacterial risk control strategies for platelet collection and transfusion was made effective. This guidance for the industry identifies FDA-approved pathogen reduction as a means of compliance.\n\n\nCerus achieved cumulative sales for the INTERCEPT Blood System for platelets and plasma that have surpassed 10 million treatable doses globally since the products were first commercially launched.\n\n\nCash, cash equivalents, and short-term inv...