Cerus Corporation Reports Third Quarter Results: Loss of $0.10 Per Share

Cerus Corporation

today announced financial results for the third quarter ended September 30, 2010. Revenue for the third quarter of 2010 was $5.0 million, up from $4.8 million recognized during the third quarter of 2009. Total revenue for the first nine months of 2010 was $16.6 million, up from $12.5 million recognized during the first nine months of 2009. Product revenue for the INTERCEPT Blood System was $4.5 million during the third quarter of 2010 compared to $4.6 million during the third quarter of 2009. Product revenue for the first nine months of 2010 was $15.7 million, up from $11.5 million during the first nine months of 2009. Government grant revenue recognized during the third quarter of 2010 was $0.5 million, compared to $0.2 million recognized during the third quarter of 2009. Government grant revenue for the first nine months of 2010 was $0.9 million, down from $1.0 million in government grant revenue recognized during the first nine months of 2009. Net loss for the third quarter of 2010 was $3.8 million, or $0.10 per share, compared to a net loss of $5.6 million, or $0.16 per share, for the third quarter of 2009. Net loss for the first nine months of 2010 was $14.3 million, or $0.37 per share, compared to a net loss of $19.2 million, or $0.58 per share, for the same period in 2009. During 2010, non-cash charges for changes in the valuation of warrants contributed $0.7 million and $2.3 million to net loss for the third quarter and nine months ended September 30, 2010, respectively.