Cerus (CERS) Misses Q1 EPS by 3c

Cerus (NASDAQ: CERS) reported Q1 EPS of ($0.14), $0.03 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $22 million versus the consensus estimate of $20.87 million.

“Our first quarter results reflect the continued strong underlying demand by blood centers and hospitals for INTERCEPT treated components which provides lower risk of transfusion transmitted infections from both known and emerging pathogens,” said William ‘Obi’ Greenman, Cerus’ president and chief executive officer. “The robust sales momentum we experienced in 2018 has extended into 2019 driven by further U.S. adoption in advance of an expected FDA final guidance document on bacterial risk control strategies for platelet collection and transfusion this year.”

“We are continuing to progress our development programs and to enhance our capabilities surrounding quality, manufacturing and supply chain continuity. In Europe, recent discussions with our Notified Body for the INTERCEPT red blood cell CE Mark submission have provided us with additional information which we expect, however, will extend the review process. We are using this opportunity to take measures to enhance our supply chain security prior to the anticipated commercial launch,” continued Greenman.

For earnings history and earnings-related data on Cerus (CERS) click here.

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