Brief Overview on Company’s Performance: Cerus Corporation (NASDAQ: CERS)

Dorothy Owen

I am Dorothy Owen and I give “Seeking Review” an insight into the most recent news hitting the “Healthcare” sector in Wall Street.

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.

Address: 454 Cottrill Lane, Saint Louis, MO 63108, USA
Phone: (+1) 314-388-9712
Email: dorothy.owen@seekingreview.com
Dorothy Owen

CONCORD, Calif., August 12, 2019 – Shares of Cerus Corporation (NASDAQ: CERS) lost -0.38% to $5.23. The stock grabbed the investor’s attention and traded 601.498K shares as compared to its average daily volume of 1.07M shares. The stock’s institutional ownership stands at 72.70%.

Cerus Corp. (CERS) reported a loss of $18.80M in its first quarter. On a per-share basis, the Concord, California-based company said it had a loss of 14 cents.

Revenue:

Product revenue during the first quarter of 2019 was $17.50M, contrast to $13.60M during the same period in 2018. Revenue growth in the quarter benefited from the volume growth in disposable kit sales in the U.S., and increased disposable kit sales in the Middle East, partially offset by product mix in France and the strengthening of the U.S. dollar relative to the Euro.

Government contract revenue from the Company’s Biomedical Advanced Research and Development Authority (BARDA) agreement was $4.50M during the first quarter of 2019, contrast to $3.50M during the same period in 2018, as a result of increasing INTERCEPT red blood cell clinical and development activities. The total potential value of the current BARDA agreement is $2010M with $290M recognized as revenue to date.

Operating Expenses:

Total operating expenses for the first quarter 2019 were $29.60M contrast to $23.00M for the same period the prior year.

Selling, general, and administrative (SG&A) expenses for the first quarter of 2019 totaled $16.20M, contrast to $13.60M for the first quarter of 2018. The year-over-year increase was mainly tied to investments in our manufacturing and supply chain capabilities. This focus and investment is consistent with our plan that is designed to ensure stability of supply, improved management of our supply chain and preparation for planned global growth of demand for our products.

Research and development (R&D) expenses for the first quarter of 2019 were $13.40M, contrast to $9.40M for the first quarter of 2018. The increase in year-over-year R&D expenses was mainly because of additional activities and costs tied to the development of INTERCEPT red blood cell system and activities related to the BARDA agreement.

Net Loss:

Net loss for the first quarter of 2019 was $18.80M, or $0.14 per diluted share, contrast to a net loss of $13.90M, or $0.11 per diluted share, for the first quarter of 2018.

Cash, Cash Equivalents and Investments:

At March 31, 2019, the Company had cash, cash equivalents and short-term investments of $100.40M, contrast to $117.60M at December 31, 2018.

At March 31, 2019, the Company had about $39.40M in outstanding term loan debt contrast to $29.90M at December 31, 2018.

Revised 2019 Product Revenue Guidance:

The Company presently anticipates 2019 product revenue to be in the range of $71.0M to $74.0M contrast to our previous guidance range of $70.0M to $73.0M. The new guidance range represents 17% to 21% growth contrast to 2018 reported product revenue.

CERS has a market value of $789.68M while its EPS was booked as $-0.46 in the last 12 months. The stock has 150.99M shares outstanding. In the profitability analysis, the company has gross profit margin of 59.60% while net profit margin was -82.40%. Beta value of the company was 1.60; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.00.

Dorothy Owen

Dorothy Owen

I am Dorothy Owen and I give “Seeking Review” an insight into the most recent news hitting the “Healthcare” sector in Wall Street. I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 454 Cottrill Lane, Saint Louis, MO 63108, USA Phone: (+1) 314-388-9712 Email: dorothy.owen@seekingreview.com