CERS - Cerus Corporation rises after record Q2 revenue and guidance boost

Cerus Corporation (NASDAQ:CERS) has added ~14.8% in the pre-market after the company’s Q2 2021 financials and 2021 guidance came ahead of expectations. Cerus (CERS) has recorded its highest-ever quarterly revenue figure posting $37.8M in revenue to indicate ~41% YoY growth. The product revenue rose ~46.5% YoY to $31.5M reflecting the increased demand for the company’s INTERCEPT platelet products in the U.S. However, net loss grew ~3.4% YoY to $15.4M as product gross margins slipped to ~51.3% during the quarter from ~54.9% in the previous year quarter reflecting the increased sales of low margin single dose platelet kits in the U.S., the company said. Meanwhile, operating expenses, SG&A expenses, and R&D expenses rose ~16.1%, ~23.0%, and ~9.6% YoY to ~$36.8M, $19.8M, and $17.1M, respectively. The cash and equivalents at the end of the quarter stood at $122.8M compared to $133.6M at 2020 year-end. “This strong momentum gives us confidence in delivering

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Cerus Corporation rises after record Q2 revenue and guidance boost