Loading...
•
Mar 31, 2021
Cerus Q1 2021 Earnings Report
Cerus reported a revenue increase driven by product revenue growth and raised full year product revenue guidance.
Key Takeaways
Cerus Corporation announced its first quarter 2021 financial results, reporting a 20% increase in total revenue compared to the prior year period. Product revenue grew due to increased demand for INTERCEPT platelet products in the U.S. The company also raised its full year product revenue guidance to $110 million to $114 million.
Total revenue for Q1 2021 was $29.6 million, a 20% increase year-over-year.
Product revenue for Q1 2021 was $23.4 million, a 26% increase year-over-year.
The company increased its 2021 annual product revenue guidance to a range of $110 million to $114 million.
Cash, cash equivalents, and short-term investments totaled $132 million as of March 31, 2021.
Cerus
Cerus
Cerus Revenue by Segment
Cerus Revenue by Geographic Location
Revenue by Segment
Product Revenue
CapyFin.comGovernment Contract Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Cerus expects 2021 product revenue to be in the range of $110 million to $114 million, representing approximately 20% to 24% growth compared to 2020 reported product revenue.
Positive Outlook
- Increased demand for INTERCEPT platelet products in the U.S.
- Adoption from the top five blood center networks in the country.
- Potential regulatory approval for the red blood cell system.
- Building demand for the INTERCEPT Blood System.
- INTERCEPT Fibrinogen Complex eligible for incremental payment via a New Technology Add-On Payment (NTAP)
Challenges Ahead
- Risks associated with commercialization and market acceptance of the INTERCEPT Blood System.
- Risks associated with the ultimate duration and severity of the COVID-19 pandemic.
- Risks related to Fresenius Kabi’s efforts to assure an uninterrupted supply of platelet additive solution (PAS).
- Risks related to the uncertain and time-consuming development and regulatory process.
- Risks associated with Cerus’ lack of experience in marketing products directly to hospitals.