Cerus Corporation Announces Pricing of Upsized Public Offering of Common Stock

Cerus Corporation CERS announced today the pricing of a registered underwritten public offering of its common stock for proceeds of approximately $55.0 million, before deducting estimated offering expenses payable by Cerus. The offering is expected to close January 31, 2020, subject to customary closing conditions. All of the shares sold in the offering were sold by Cerus. In addition, Cerus has granted the underwriter a 30-day option to purchase up to an additional $8.25 million of shares of its common stock. On January 28, 2020, the last sale price of the shares as reported on The Nasdaq Global Market was $4.15 per share.

BTIG, LLC is acting as sole book-running manager for the offering.

A shelf registration statement on Form S-3 (File No. 333-219727) relating to the shares of common stock described above was previously filed by Cerus with the Securities and Exchange Commission ("SEC") and declared effective on January 8, 2018. This offering is being made solely by means of a prospectus supplement and accompanying prospectus included in the registration statement. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Alternatively, copies of the final prospectus supplement, when available, and the accompanying prospectus may be obtained by contacting BTIG, LLC at 65 East 55^th Street, New York, NY, 10022, by email at equitycapitalmarkets@btig.com or by telephone at (212) 593-7555.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.

About Cerus

Cerus Corporation is dedicated solely to safeguarding the world's blood supply. Based in Concord, California, Cerus develops and markets the INTERCEPT Blood System. Cerus currently markets and sells the INTERCEPT Blood System in the United States, Europe, the Commonwealth of Independent States, the Middle East and selected countries in other regions around the world.

Forward Looking Statements

This press release contains forward-looking statements. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements relating to Cerus' public offering. These forward-looking statements are based upon Cerus' current expectations. Actual results could differ materially from these forward-looking statements as a result of certain factors, including, without limitation, risks related to market conditions and the satisfaction of customary closing conditions related to the public offering, risks related to the application of the net proceeds from the public offering, risks associated with the uncertain research and product development process, and other risks detailed in Cerus' filings with the SEC, including in Cerus' quarterly report on Form 10-Q for the quarter ended September 30, 2019, filed with the SEC on October 30, 2019 and in the preliminary prospectus supplement related to the public offering filed with the SEC on January 28, 2020. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Cerus does not undertake any obligation to update any forward-looking statements as a result of new information, future events, changed assumptions or otherwise.

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