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Dec 31, 2021
Cerus Q4 2021 Earnings Report
Cerus experienced strong revenue growth driven by U.S. adoption of INTERCEPT platelets.
Key Takeaways
Cerus Corporation announced record fourth quarter and full-year 2021 financial results, with total revenue of $50.1 million, a 49% increase compared to the prior year period, and product revenue of $39.9 million, a 41% increase compared to the prior year period.
Fourth quarter 2021 total revenue of $50.1 million, reflecting a 49% increase over the prior year period.
The Company is reiterating its 2022 annual product revenue guidance range of $157 million to $164 million, representing a 20% to 25% increase over full-year 2021 reported product revenue.
Two of the Company’s blood center production partners, Gulf Coast Regional Blood Center and Central California Blood Center (CCBC), have recently obtained BLA approvals for the INTERCEPT Blood System for Cryoprecipitation
Cash, cash equivalents, and short-term investments were $129.4 million at December 31, 2021.
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CapyFin.com Forward Guidance
The Company expects full-year 2022 product revenue will be in the range of $157-$164 million, representing strong growth of approximately 20%-25% compared to full-year 2021 product revenue of $130.9 million.
Positive Outlook
- Company expects full-year 2022 product revenue will be in the range of $157-$164 million
- The INTERCEPT Blood System is now established in many blood centers in the U.S.
- Company is confident that 2022 will be another year of strong growth led by sales of INTERCEPT platelet kits.
- Company is excited to continue its IFC launch across the country on the heels of the recent first BLA approvals as well as collaborations with BCA and OneBlood.
- Company look forward to continuing to expand patient access to INTERCEPT treated blood components and updating our stakeholders on our progress throughout the year.
Challenges Ahead
- Risks associated with the commercialization and market acceptance of, and customer demand for, the INTERCEPT Blood System
- Risks associated with the ultimate duration and severity of the COVID-19 pandemic and resulting global economic and financial disruptions
- Risks associated with Cerus’ lack of longer-term commercialization experience with the INTERCEPT Blood System for Cryoprecipitation and in the United States generally
- Risks related to Fresenius Kabi’s efforts to assure an uninterrupted supply of platelet additive solution (PAS)
- Risks related to Cerus’ ability to demonstrate to the transfusion medicine community and other health care constituencies that pathogen reduction, including IFC for the treatment and control of bleeding, and the INTERCEPT Blood System is safe, effective and economical
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