Revenue Performance - Product revenue for Q3 2024 was $46.0 million, a 16% increase from $39.8 million in Q3 2023[4] - Total revenue for the first nine months of 2024 was $144.6 million, an 8% increase from $133.5 million in the same period of 2023[2] - The company raised its full-year 2024 product revenue guidance to a range of $177 million to $179 million[15] - Government contract revenue for Q3 2024 was $4.6 million, a 38% decrease from $7.5 million in Q3 2023[5] - Total product revenue for Q3 2024 was $46.017 million, a 16% increase from $39.772 million in Q3 2023[29] - Nine-month product revenue for 2024 reached $129.461 million, up 18% from $109.599 million in the same period of 2023[30] - North America generated $31.514 million in revenue for Q3 2024, a 21% increase from $25.983 million in Q3 2023[29] Profitability and Loss - Product gross profit for Q3 2024 was $26.2 million, a 20% increase from the prior year, with a gross margin of 56.9%[6] - Gross profit on product revenue for Q3 2024 was $26.199 million, compared to $21.816 million in Q3 2023, reflecting a significant improvement[30] - Net loss attributable to Cerus Corporation for Q3 2024 was $2.9 million, significantly improved from a loss of $7.3 million in Q3 2023[11] - The net loss attributable to Cerus Corporation for Q3 2024 was $(2.934) million, an improvement from $(7.267) million in Q3 2023[30] - The company reported a net loss per share of $(0.02) for Q3 2024, compared to $(0.04) for Q3 2023[30] - Non-GAAP adjusted EBITDA for Q3 2024 was a positive $4.4 million, compared to a loss of $1.0 million in Q3 2023[12] - The company anticipates a non-GAAP adjusted EBITDA for 2024, but has not provided a reconciliation to projected GAAP net loss due to variability in certain components[26] - The company reported a loss from operations of $961,000 for the three months ended September 2024, compared to a loss of $5,243,000 for the same period in 2023, indicating a significant improvement[32] Operating Expenses - Operating expenses for Q3 2024 decreased by 8% to $31.8 million compared to $34.5 million in Q3 2023[7] - Operating expenses for research and development in Q3 2024 were $14.013 million, down from $16.783 million in Q3 2023[30] - Share-based compensation for the three months ended September 2024 was $5,830,000, up from $3,979,000 for the same period in 2023, an increase of about 46%[32] Cash Flow and Assets - The company generated positive cash flows of $4.1 million from operations in Q3 2024, compared to cash used in operations of $10.5 million in the prior year[14] - Cash and cash equivalents increased significantly from $11,647,000 in December 2023 to $21,575,000 in September 2024, representing an increase of about 85%[31] - Total current assets decreased from $144,441,000 in December 2023 to $140,612,000 in September 2024, a decline of approximately 2%[31] Liabilities - Total liabilities decreased from $144,304,000 in December 2023 to $135,258,000 in September 2024, a reduction of approximately 6%[31] - Current liabilities decreased from $67,521,000 in December 2023 to $54,345,000 in September 2024, a decline of about 19%[31] - Non-current inventories decreased from $19,501,000 in December 2023 to $14,811,000 in September 2024, a decrease of approximately 24%[31] - Operating lease liabilities – current decreased from $2,452,000 in December 2023 to $2,260,000 in September 2024, a decline of approximately 8%[31] Manufacturing and Supply Chain - Cerus expanded U.S. manufacturing capacity for INTERCEPT Fibrinogen Complex following new BLA approvals, addressing growing demand[3] - Cerus is reliant on third-party suppliers for manufacturing and distribution, which poses additional risks to its supply chain[24] - The company faces risks related to regulatory approvals and market acceptance of the INTERCEPT Blood System, which could impact future revenues[24]

Financial Data and Key Metrics Changes - The company reported product revenue of $45.1 million for Q2 2024, representing a year-over-year growth of 16% and bringing the first half revenue to $83.4 million, up 20% from the first half of last year [18][19] - The net loss attributable to the company for Q2 narrowed by 56% to $5.8 million or $0.03 per diluted share, compared to $13.3 million or $0.07 per diluted share for the prior year period [23] - Non-GAAP adjusted EBITDA for Q2 2024 generated positive adjusted EBITDA of just under $1 million, compared to a loss of $4.7 million for the prior year period [23] Business Line Data and Key Metrics Changes - North American platelet sales were the major contributor to product revenue growth, with U.S. second quarter 2024 product revenues exceeding prior year levels by 19% [19] - INTERCEPT Fibrinogen Complex (IFC) product revenue was $2 million, up from $1.4 million in the prior year period, driven by new hospital users and increased adoption [19][15] - The company expects annual IFC revenue guidance to remain in the range of $8 million to $10 million [25] Market Data and Key Metrics Changes - Canadian Blood Services completed the implementation of INTERCEPT across its entire platelet production operation, achieving 100% pathogen inactivation [13] - The international business showed solid growth, particularly in regions like the Middle East, Latin America, and Asia-Pacific, with ongoing validation efforts in Canada and Hema-Quebec [14][19] Company Strategy and Development Direction - The company raised its annual product revenue guidance range for the full year to $175 million to $178 million, up from the previous range of $172 million to $175 million, reflecting confidence in growth [6][25] - The company is focused on expanding the INTERCEPT blood system and advancing the IFC business, with plans for new product approvals and geographic expansion [26][27] - The introduction of the new LED illuminator is expected to enhance operational efficiency and customer satisfaction, with a regulatory submission planned for later this year [9][50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting and exceeding product revenue expectations, citing the growing number of blood centers and hospitals using INTERCEPT [6] - The management highlighted the importance of pathogen inactivation in blood safety strategies, especially in light of rising health threats like dengue [7] - The company aims to achieve adjusted EBITDA breakeven for the full year 2024, with a focus on improving bottom-line results and managing working capital [10][25] Other Important Information - The company ended Q2 with a cash position of $71.2 million, with a positive operating cash flow of $0.4 million for the quarter, compared to cash used from operations of $7.6 million during the prior year period [24] - The company is not currently forecasting any rebuild of customer-level inventory as a driver of revenue upside, focusing instead on sustained growth from INTERCEPT adoption [48] Q&A Session Summary Question: Inventory rebuilding following extended shelf life - Management anticipates filing for an 18-month shelf life later this year, but did not see significant rebuilding of inventories in Q2 [29] Question: Status of Hema-Quebec validation process - Hema-Quebec's validation is effectively complete, with initial pathogen reduction expected in 2025 and full implementation in 2026 [30] Question: Outlook for IFC growth and capacity constraints - There is significant opportunity for growth both from existing customers and new hospital acquisitions, with sufficient production capacity expected to support growth [34][36] Question: Roadmap for IFC growth in 2025 - While not providing formal guidance for 2025, management indicated that IFC could represent 10% of total sales, with significant growth potential [38][40] Question: Update on INTERCEPT red blood cell program in the EU - The company is awaiting feedback from the competent authority in the Netherlands, with expectations for a response after the summer holidays [44] Question: Sources of upside to the 2024 guidance - Management does not anticipate inventory rebuilds as a revenue driver, but sees growth from increased hospital demand and IFC adoption [46][48] Question: Features and improvements of the next-gen illuminator - The new illuminator is designed to be more space-efficient and user-friendly, with a regulatory submission expected soon [49][50] Question: Update on international opportunities - The company is making progress in China and the Middle East, with strong growth potential in these regions [55][57]

Financial Performance - Cerus reported a quarterly loss of $0.03 per share, better than the Zacks Consensus Estimate of a loss of $0.04, and improved from a loss of $0.07 per share a year ago, representing an earnings surprise of 25% [1] - The company posted revenues of $45.08 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 6.07%, compared to year-ago revenues of $38.85 million [2] - Over the last four quarters, Cerus has exceeded consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance and Outlook - Cerus shares have increased by approximately 4.6% since the beginning of the year, while the S&P 500 has gained 15.8% [3] - The company's earnings outlook will be crucial for future stock movements, with current consensus EPS estimates at -$0.02 on $43.7 million in revenues for the coming quarter and -$0.10 on $174 million in revenues for the current fiscal year [4][7] Industry Context - The Medical - Products industry, to which Cerus belongs, is currently ranked in the top 36% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - The performance of Cerus may also be influenced by the overall industry outlook, as empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions [5][8]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File Number 000-21937 CERUS CORPORATION (Exact name of registrant as specified in its charter) Delaware 68-0262011 (State or other jurisdiction ...

Exhibit 99.1 Cerus Corporation Announces Second Quarter 2024 Financial Results and Increases Full-Year 2024 Product Revenue Guidance Range First Half of 2024 Product Revenue Increased 20% from Prior Year Period Increasing Full-Year 2024 Product Revenue Guidance Range from $172-175 Million to $175-178 Million CONCORD, CA, August 1, 2024 - Cerus Corporation (Nasdaq: CERS) today announced financial results for its second quarter and six months ended June 30, 2024. Total revenue for the three and six months end ...

Cerus Corporation (NASDAQ:CERS) Q1 2024 Results Conference Call May 2, 2024 4:30 PM ET Company Participants Jessica Hanover - Vice President of Corporate Affairs Obi Greenman - President and Chief Executive Officer Vivek Jayaraman - Chief Operating Officer Kevin Green - Chief Financial Officer Carol Moore - Senior Vice President of Regulatory and Quality Conference Call Participants Emily Christy - Stifel Jacob Johnson - Stephens Ross Osborne - Cantor Fitzgerald William Bonello - Craig-Hallum Capital Group ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File Number 000-21937 CERUS CORPORATION (Exact name of registrant as specified in its charter) Delaware 68-0262011 (State or other jurisdiction ...

First Quarter Product Revenue Increased 24% from Prior Year Quarter Three Months Ended March 31, 2024 2023 Product Revenue $38,365 $30,974 Government Contract Revenue 5,030 7,502 Total Revenue $43,395 $38,476 • The Company is reiterating its full-year 2024 annual product revenue guidance range of $172 million to $175 million. Included in this range is full-year 2024 guidance for INTERCEPT Fibrinogen Complex, which is expected to be between $8 million to $10 million. • The Company expects to report GAAP net ...

CONCORD, Calif.--(BUSINESS WIRE)--Cerus Corporation (Nasdaq: CERS) today announced positive topline results for ReCePI, a pivotal Phase 3 clinical trial of pathogen reduced INTERCEPT Red Blood Cells (INTERCEPT RBCs) transfused to complex cardiac surgery patients. The trial met its primary efficacy endpoint, demonstrating non-inferiority for INTERCEPT RBCs compared to conventional RBCs as measured by the incidence of acute kidney injury (AKI) following transfusion of study RBCs. AKI is a sensitive transfusio ...

Cerus Corporation (NASDAQ:CERS) Q4 2023 Earnings Conference Call March 5, 2024 4:30 PM ET Company Participants Jessica Hanover - Vice President of Corporate Affairs Obi Greenman - President and Chief Executive Officer Kevin Green - Vice President Finance and Chief Financial Officer Vivek Jayaraman - Chief Operating Officer Carol Moore - Senior Vice President of Regulatory Affairs and Quality Conference Call Participants Jacob Johnson - Stephens Emily Christy - Stifel Operator Good day ladies and gentlemen. ...