Cerus Corporation (CERS) shares surged 15.79% in after-hours on Tuesday, August 03, 2021, and closed the daily trading at $5.94 per share. in the regular trading session on Tuesday, CERS’s stock gained 0.39%. CERS shares have fallen 30.77% over the last 12 months, and they have moved up 6.88% in the past week. Over the past three months, the stock has lost 8.39%, while over the past six months, it has declined 29.63%. The company has a current market of $878.10 million and its outstanding shares stood at 168.82 million.
Let’s discuss its recent news and developments.
CERS latest financial results announcement
On August 03, 2021, Cerus Corporation (CERS) reported its financial results for the second quarter ended June 30, 2021.
Q2 2021 financial highlights
- CERS reported revenue of $37.8 million in Q2 2021 compared to $26.83 million in Q2 2020.
- Total operating expenses were $36.8 million in Q2 2021 compared to $31.7 million for the same period of the prior year.
- It suffered a net loss of $15.4 million, or $0.09 per basic and diluted share in Q2 2021 compared to a net loss of $14.9 million, or $0.09 per basic and diluted share, for the second quarter of 2020.
- As of June 30, 2021, the company had cash, cash equivalents, and short-term investments of $123 million.
Revised FY 2021 financial outlook
For FY 2021, CERS is expecting product revenue to be in the range of $118 million to $122 million, as compared to the prior range of $110 million to $114 million.
NTAP for INTERCEPT Fibrinogen Complex
On August 03, 2021, Cerus Corporation (CERS) announced that the U.S. Centers for Medicare & Medicaid Services (CMS) granted a new technology add-on payment (NTAP) for INTERCEPT Fibrinogen Complex within the Medicare Hospital Inpatient Prospective Payment System (IPPS). The NTAP was granted under CMS’ alternative NTAP pathway, which recognizes the transformative nature of products granted Breakthrough Device designation by the U.S. Food and Drug Administration (FDA).
CERS Collaboration with LifeSouth
On June 30, 2021, Cerus Corporation (CERS) signed an agreement with LifeSouth Community Blood Centers (LifeSouth) to serve as a production partner for INTERCEPT® Fibrinogen Complex, the company’s pathogen reduced cryoprecipitated fibrinogen complex product. LifeSouth is the fifth production partner for INTERCEPT Fibrinogen Complex, enabling the initial commercial launch of the product to expand into the state of Florida.
CERS Contract with Canadian Blood Services
On May 17, 2021, Cerus Corporation (CERS) announced its contract with Canadian Blood Services for the INTERCEPT Blood System for Platelets. Canadian Blood Services is one of Canada’s two blood operators, serving all Canadian provinces and territories except Quebec.
Conclusion
CERS stock surged in the after-hours on Tuesday after the company released strong financial results for the second quarter. we are pretty confident that it will keep its positive momentum in the coming days.
