Cerus (CERS) Tops Q2 EPS by 2c

Cerus (NASDAQ: CERS) reported Q2 EPS of ($0.09), $0.02 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $26.8 million versus the consensus estimate of $25.89 million.

“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 inactivation plays in helping ensure the security and safety of the blood supply chain. It has also resulted in greater focus on strategic planning and pandemic preparedness by blood centers,” said William ‘Obi’ Greenman, Cerus’ president and chief executive officer. “Demand for INTERCEPT platelet kits continued to be strong in the U.S. as blood centers and hospitals adopt pathogen reduction to be compliant with the FDA guidance document on platelet safety, which has a compliance deadline that is now less than 8 months away.”

“Our development programs continued to make progress during the quarter. In May, we submitted our PMA-S for pathogen-reduced cryoprecipitated fibrinogen complex, which could result in potential FDA approval by the end of this year. In addition, meetings with the European and U.S. regulatory agencies in the quarter resulted in more expedited and clear pathways to potentially gain regulatory approvals of the INTERCEPT red blood cell system,” continued Greenman.

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

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