Cerus Corporation Announces Preliminary Fourth Quarter and Full-Year 2023 Product Revenue and Provides Business Update

Cerus Corporation (Nasdaq: CERS) today announced preliminary product revenue for the fourth quarter and full-year 2023 and provided product revenue guidance for full-year 2024.

Cerus’ unaudited preliminary product revenue for the fourth quarter of 2023 totaled $46.8 million, representing an increase of 6% over the $44.0 million recognized during the fourth quarter of 2022 and 18% sequentially. The Company expects its unaudited preliminary full-year 2023 product revenue to be $156.4 million, in line with the Company’s 2023 product revenue guidance range of $155-$158 million. These preliminary product revenue results have not been audited and are subject to change.

“We are pleased with the return to meaningful growth, evidenced by our strong performance in the fourth quarter of 2023. We also anticipate double-digit product revenue growth for full-year 2024, driven by continued growth in the INTERCEPT Platelet franchises in both the U.S. and internationally as well as in the INTERCEPT Fibrinogen Complex business,” stated William “Obi” Greenman, Cerus’ president and chief executive officer.

The Company expects full-year 2024 product revenue will be in the range of $172-$175 million. Percentage growth for the first quarter of 2024 is expected to be in the high teens to low 20’s range, given the seasonality of the business as well as the unusual Q1 2023 results.

“Additionally, we continue to expect to realize adjusted EBITDA breakeven for the fourth quarter 2023 when we report complete fourth quarter 2023 and year-end results,” continued Greenman. “This milestone will be important in the Company’s pursuit to fund its future growth, and we expect its durability for 2024.”

“Beyond our commercial progress, we anticipate that 2024 will be a meaningful year for our INTERCEPT Red Blood Cell (RBC) program. We remain on track to provide the top-line readout from ReCePI, the first of our two U.S. phase 3 trials for INTERCEPT RBCs, in the first quarter of 2024, and we expect an approval decision for CE Mark for INTERCEPT RBCs in the second half of 2024. These will be key catalysts for advancing this program towards commercialization,” added Greenman.

Cerus will provide complete fourth quarter and full-year 2023 financial results and host a call to discuss both 2023 results and 2024 expectations by mid-March.

ABOUT CERUS

Cerus Corporation is dedicated solely to safeguarding the world’s blood supply and aims to become the preeminent global blood products company. Headquartered in Concord, California, the company develops and supplies vital technologies and pathogen-protected blood components to blood centers, hospitals, and ultimately patients who rely on safe blood. The INTERCEPT Blood System for platelets and plasma is available globally and remains the only pathogen reduction system with both CE mark and FDA approval for these two blood components. The INTERCEPT red blood cell system is under regulatory review in Europe, and in late-stage clinical development in the US. Also in the US, the INTERCEPT Blood System for Cryoprecipitation is approved for the production of Pathogen Reduced Cryoprecipitated Fibrinogen Complex (commonly referred to as INTERCEPT Fibrinogen Complex), a therapeutic product for the treatment and control of bleeding, including massive hemorrhage, associated with fibrinogen deficiency. For more information about Cerus, visit www.cerus.com and follow us on LinkedIn.