Cerus (CERS) Announces Prelim. Product Revenue Results for Q4

Cerus Corporation (NASDAQ: CERS) today announced unaudited preliminary product revenue for the fourth quarter and full year 2017 and provided 2018 product revenue guidance.

Cerus’ unaudited preliminary product revenue for the fourth quarter of 2017 was $16.2 million, an increase of 60% compared to fourth quarter of 2016. Driving the growth was an increase in global demand for INTERCEPT platelet kits of more than 100%. Preliminary results in the quarter reflect the initial rollout for broad use of the INTERCEPT Blood Systems for platelets in France. Based on the fourth quarter unaudited preliminary product revenue, the Company expects full year 2017 product revenue to be $43.6 million, representing an increase of 17% compared to prior year product revenue. The preliminary product revenue results reported have not been audited and are subject to change.

“Preliminary fourth quarter sales results exceeded our expectations and would mark the highest quarterly product revenue ever reported by Cerus. We finished 2017 on a solid note and look forward to building on this success throughout 2018,” said William ‘Obi’ Greenman, Cerus’ president and chief executive officer.

“As we enter 2018, we are excited to expand patient access to INTERCEPT across the EMEA markets, to continue to drive U.S. product adoption, and to expand our INTERCEPT commercial portfolio with the anticipated CE Mark submission for red cells and the progress on our planned cryoprecipitate PMA supplement submission. We anticipate 2018 product revenue to be in the range of $51 million to $53 million, representing 17 to 22% growth,” continued Greenman.

Cerus will provide complete fourth quarter and full year 2017 financial results and host a call in early March.

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