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Jun 30, 2023
Cerus Q2 2023 Earnings Report
Cerus reported second quarter 2023 financial results.
Key Takeaways
Cerus Corporation reported a total revenue of $47.7 million for Q2 2023, consisting of $38.9 million in product revenue and $8.9 million in government contract revenue. The company is adjusting its full-year 2023 annual product revenue guidance to the range of $160 million to $165 million.
Total revenue for Q2 2023 was $47.7 million, including $38.9 million from product revenue and $8.9 million from government contracts.
Positive feedback received for INTERCEPT Red Blood Cells CE Mark submission, supporting possible CE Mark approval in the second half of 2024.
Phase 3 ReCePI study enrollment completion planned this year, with top-line data expected in Q1 2024.
Awarded an additional $8.7 million from the U.S. Department of Defense for LyoIFC development, increasing total contract value to $17.8 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company expects full-year 2023 product revenue to be in the range of $160 million to $165 million.
Positive Outlook
- Potential CE Mark approval decision in the second half of 2024.
- Top-line data readout from the U.S. Phase 3 ReCePI study expected in the first quarter of next year.
- Plan to begin a modular premarket approval (PMA) application submission to FDA in the second half of 2025.
- Final PMA module submission planned for the second half of 2026.
- New customers and new geographies will fuel growth going forward.
Challenges Ahead
- Adjusting full-year 2023 annual product revenue guidance to the range of $160 million to $165 million from the prior range of $165 million to $170 million.
- Expected impact of a temporary reduction in U.S. platelet kit shelf life on customer ordering patterns.
- Reduced platelet collections in key regions of EMEA.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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