Cerus Press Releases

Cerus and the Swiss Red Cross Report Successful Outcome of INTERCEPT Blood System Platelet Study

Thu, 02 Sep 2010 08:30:00 -0400

CONCORD, Calif.--(BUSINESS WIRE)-- Cerus Corporation (NASDAQ:CERS) announced today the successful outcome of a multi-year trial of INTERCEPT-treated platelet components conducted at the Swiss Red Cross Blood Center in Basel, Switzerland. The INTERCEPT Blood System is a pathogen inactivation treatment designed to protect against transfusion-transmitted diseases.

"This study demonstrated that INTERCEPT platelets provide adequate prophylactic support for hematology-oncology patients," said Dr. Andreas Buser, director of the Swiss Red Cross Blood Center in Basel. "The INTERCEPT platelet count increments in this study mirror what we see for conventional platelets. Our clinical experience with INTERCEPT adds evidence for the recent Swiss Red Cross decision to convert almost all of its centers to INTERCEPT in order to ensure proactive protection against bacterial contamination and emerging pathogens."

The open label experience study included platelet-deficient hematologic patients at the University Hospital Basel and was conducted to evaluate both platelet count increments and transfusion related adverse events. The corrected count increment measures the increase in the patient's platelet count following a platelet transfusion, adjusted for dose and patient blood volume.

A control arm (72 patients) provided data to compare with the data generated for INTERCEPT platelets (44 patients). The mean one-hour corrected count increment for the INTERCEPT arm compared favorably to the control arm. This was true both for the 19 patients who received only INTERCEPT platelets per protocol (15,600 INTERCEPT / 10,200 control), as well as for the 25 patients who received at least one transfusion of conventional platelets in addition to INTERCEPT platelets (intent-to-treat, 13,600 INTERCEPT / 10,200 control). Patients in the INTERCEPT arm were transfused with conventional platelets if no INTERCEPT platelets were available at the time a transfusion was required.

The investigators in Basel noted no differences in serious adverse events related to bleeding, in the number of platelet transfusions or the interval between transfusions, nor were there any reports of platelet transfusion related bacteremia or other transfusion transmitted infection. The investigators plan to submit the study data for presentation at an upcoming transfusion medicine congress.

"We are especially pleased with these clinical outcomes in the context of the economic advantages realized from obtaining 100% of INTERCEPT platelet components from double-dose splits and eliminating the need for gamma irradiation," added Dr. Buser. "Our experience preparing INTERCEPT platelet components for this study will be shared with other Swiss Red Cross centers to streamline their deployment of the technology."

"With over 8 years of experience in routine use, the INTERCEPT system continues to perform exceptionally well in blood center operations and in clinical practice," said Dr. Laurence Corash, Cerus' chief medical officer.

The INTERCEPT systems for platelets and plasma are used by over 60 blood centers in Europe, Russia and the Middle East. The INTERCEPT red blood cell system is in clinical development. The INTERCEPT Blood System is not yet approved for use in the United States.

ABOUT CERUS

Cerus Corporation is a biomedical products company focused on commercializing the INTERCEPT Blood System to enhance blood safety. The INTERCEPT system is designed to reduce the risk of transfusion-transmitted diseases by inactivating a broad range of pathogens such as viruses, bacteria and parasites that may be present in donated blood. The nucleic acid targeting mechanism of action allows INTERCEPT treatment to inactivate both established transfusion threats, such as hepatitis, HIV, West Nile virus and bacteria, as well as emerging pathogens such as influenza, malaria and dengue. Cerus currently markets and sells the INTERCEPT Blood System for both platelets and plasma in Europe, Russia, the Middle East and selected countries in other regions around the world, with over 600,000 units transfused to date. The INTERCEPT red blood cell system is in clinical development. Visit http://www.cerus.com for more information.

INTERCEPT and INTERCEPT Blood System are trademarks of Cerus Corporation.


    Source: Cerus Corporation

Cerus Signs Agreement to Acquire INTERCEPT Blood System Asian Commercial Rights from BioOne

Tue, 24 Aug 2010 16:01:00 -0400

Cerus to Consolidate Worldwide Commercial Rights to INTERCEPT Platelets, Plasma and Red Blood Cells

CONCORD, Calif.--(BUSINESS WIRE)-- Cerus Corporation (NASDAQ: CERS) announced today that it has signed an agreement to acquire BioOne Corporation's commercialization rights for the INTERCEPT Blood System for platelets and plasma, subject to approval of the transaction by BioOne's shareholders. In 2004 and 2005, Cerus and its partner at the time, Baxter International, licensed the commercialization rights for INTERCEPT platelets and plasma to BioOne for an Asian territory, which included China, Japan, Taiwan, Singapore, Korea, Thailand and Vietnam. Cerus holds the commercialization rights for the INTERCEPT red blood cell system for this region.

Under terms of the agreement, BioOne will receive approximately 1,170,000 shares of Cerus' common stock valued at approximately $3.08 per share, and Cerus will relinquish its equity interest in BioOne.

"We believe there is great market potential for INTERCEPT in Asia and that regaining the platelet and plasma rights from BioOne will allow us to pursue a different business strategy and potential partnerships for all three programs," said Claes Glassell, Cerus' president and chief executive officer.

ABOUT CERUS

Cerus Corporation is a biomedical products company focused on commercializing the INTERCEPT Blood System to enhance blood safety. The INTERCEPT system is designed to reduce the risk of transfusion-transmitted diseases by inactivating a broad range of pathogens such as viruses, bacteria and parasites that may be present in donated blood. The nucleic acid targeting mechanism of action allows INTERCEPT treatment to inactivate both established transfusion threats, such as hepatitis, HIV, West Nile virus and bacteria, as well as emerging pathogens such as influenza, malaria and dengue. Cerus currently markets and sells the INTERCEPT Blood System for both platelets and plasma in Europe, Russia, the Middle East and selected countries in other regions around the world. The INTERCEPT red blood cell system is in clinical development. Visit http://www.cerus.com for more information.

INTERCEPT and INTERCEPT Blood System are trademarks of Cerus Corporation.

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 approval of the agreement by BioOne shareholders, the market potential for the INTERCEPT Blood System in Asia and to the pursuit of new strategies and partnerships for the INTERCEPT Blood System. Words such as "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the company's current expectations. Actual results could differ materially from these forward-looking statements as a result of certain factors, including, without limitation, risks related to whether the agreement will be approved by BioOne shareholders, risks associated with the commercialization and market acceptance of the INTERCEPT Blood System, as well as other risks detailed in the Cerus' filings with, the Securities and Exchange Commission (SEC), including in Cerus' quarterly report on Form 10-Q for the quarter ended March 31, 2010, filed with the SEC on May 12, 2010. No pathogen inactivation system has been shown to inactivate all pathogens. 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.


    Source: Cerus Corporation

Cerus Corporation Reports Second Quarter Revenues

Thu, 29 Jul 2010 16:01:00 -0400

Product Revenue Jumps 47% From Q2 2009

CONCORD, Calif.--(BUSINESS WIRE)-- Cerus Corporation (NASDAQ:CERS) today announced financial results for the second quarter ended June 30, 2010.

Revenue for the second quarter of 2010 was $5.9 million, up from $4.2 million recognized during the second quarter of 2009. Total revenue for the first six months of 2010 was $11.7 million, up from $7.7 million recognized during the first six months of 2009. The increase in revenue for the second quarter and first six months of 2010 was due to growth from product sales of the INTERCEPT Blood System. Product revenue for the INTERCEPT Blood System was $5.7 million during the second quarter of 2010, representing an increase of $1.8 million, or 47%, from the second quarter of 2009. Despite average foreign exchange rate erosion of 8% between the U.S. dollar and the Euro, product revenue grew by 4% from the first quarter of 2010. Product revenue for the first six months of 2010 was $11.2 million, up from $7.0 million during the first six months of 2009. Government grant revenue recognized during the second quarter of 2010 was $0.2 million, compared to $0.3 million recognized during the second quarter of 2009. Government grant revenue for the first six months of 2010 was $0.5 million, down from $0.7 million in government grant revenue recognized during the first six months of 2009.

Gross margins for the second quarter of 2010 were 51% compared to gross margins of 40% for the second quarter of 2009. Gross margins for the first six months of 2010 were 48% compared to 40% for the same period in 2009. The improvement in 2010 gross margins is attributable to lower per-unit costs of INTERCEPT Blood System product sold in 2010 compared to 2009.

Total operating expenses for the second quarter of 2010 were $6.5 million, down from $7.2 million for the same period in 2009. The decrease in operating expenses reflects the full effect of the Company's 2009 restructuring plans announced in March 2009. Operating expenses for the first six months of 2010 were $13.1 million, down from $16.0 million during the same period in 2009.

Net loss for the second quarter of 2010 was $5.4 million, or $0.14 per share, compared to a net loss of $6.2 million, or $0.19 per share, for the second quarter of 2009. Net loss for the first six months of 2010 was $10.4 million, or $0.27 per share, compared to a net loss of $13.6 million, or $0.42 per share, for the same period in 2009.

At June 30, 2010, the Company had cash, cash equivalents and short-term investments of $15.9 million, down from $19.9 million at December 31, 2009 and $19.0 million at March 31, 2010, resulting in net cash consumption of $3.1 million for the second quarter. During the first quarter of 2010, the Company entered into a $10 million growth capital facility and drew the first $5 million from that facility. The second $5 million may be drawn down between September 30 and December 31, 2010, at the Company's option.

"A fifth straight quarter of record product revenues reflects the increasing familiarity of the INTERCEPT product in both routine use and clinical experience. Our technology is now available to more and more patients," said Claes Glassell, president and chief executive officer of Cerus Corporation. "Despite the difficult global economic environment and weakening of the Euro, we continue to add new customers and see strong demand for improved blood safety."

RECENT HIGHLIGHTS:

    --  Five straight quarters of revenue growth - Achieved 47% year over year
        growth in sales of INTERCEPT;
    --  Improved gross margins to 51% and maintained historically low operating
        expense levels;
    --  Announced INTERCEPT efficacy against XMRV, a retrovirus gaining
        widespread attention; and
    --  Announced results of 22 abstracts presenting experiences with the
        INTERCEPT Blood System during the XXXIst International Congress of the
        International Society for Blood Transfusion in Berlin, Germany.

QUARTERLY CONFERENCE CALL

The Company will host a conference call and webcast at 4:15 p.m. Eastern time today to discuss its financial results and provide a general business overview. To access the live webcast, please visit the Investor Relations page of the Cerus web site at http://investor.cerus.com. Alternatively, you may access the live conference call by dialing 877-407-0782 (U.S.) or 201-689-8567 (international).

A replay will be available on the Cerus web site, or by dialing 877-660-6853 (U.S.) or 201-612-7415 (international) and entering account number 286 and conference ID number 300291. The replay will be available approximately two hours after the call through August 6, 2010.

ABOUT CERUS

Cerus Corporation is a biomedical products company focused on commercializing the INTERCEPT Blood System to enhance blood safety. The INTERCEPT Blood System is designed to inactivate blood-borne pathogens in donated blood components intended for transfusion. Cerus currently markets the INTERCEPT Blood System for both platelets and plasma in Europe, Russia, the Middle East and selected countries in other regions around the world. The INTERCEPT red blood cell system is currently in clinical development. See http://www.cerus.com for more information.

INTERCEPT and the INTERCEPT Blood System are trademarks of Cerus Corporation.


CERUS CORPORATION

CONDENSED CONSOLIDATED UNAUDITED STATEMENTS OF OPERATION

(In thousands except per share information)

                                Three Months Ended      Six Months Ended

                                June 30,                June 30,

                                2010        2009        2010         2009

Revenue

Product revenue                 $ 5,690     $ 3,871     $ 11,190     $ 6,956

Government grant and              245         335         467          738
cooperative agreements

Total Revenue                     5,935       4,206       11,657       7,694

Cost of product revenue           2,934       2,520       6,092        4,614

Gross profit                      3,001       1,686       5,565        3,080

Operating expenses

Research and development          1,244       1,625       2,494        3,637

Selling, general and              5,304       5,409       10,575       11,510
administrative

Restructuring                     --          129         --           841

Total operating expenses          6,548       7,163       13,069       15,988

Loss from operations              (3,547 )    (5,477 )    (7,504  )    (12,908 )

Other expense, net                (1,880 )    (735   )    (2,945  )    (701    )

Net loss                        $ (5,427 )  $ (6,212 )  $ (10,449 )  $ (13,609 )

Net loss per share - basic and  $ (0.14  )  $ (0.19  )  $ (0.27   )  $ (0.42   )
diluted

Weighted average common shares
outstanding used for basic and
diluted loss per share

Basic                             38,940      32,650      38,880       32,620

Diluted                           38,940      32,650      38,880       32,620


Cerus Corporation

Condensed Consolidated Unaudited Balance Sheets

(In thousands)

                                                    June 30,  December 31,
                                                    2010      2009

Cash, cash equivalents, and short-term investments  $ 15,864  $ 19,931

Accounts receivable and other current assets          4,770     4,721

Inventories                                           6,267     7,707

Property and equipment, net                           1,691     1,217

Other assets                                          1,300     915

Total Assets                                        $ 29,892  $ 34,491

Accounts payable and accrued liabilities            $ 7,669   $ 9,718

Accrued restructuring                                 --        113

Deferred revenue                                      212       345

Long-term debt, current                               797       --

Warrant liability                                     4,352     2,737

Long-term debt, non-current                           4,036     --

Other long-term liabilities                           748       130

Total liabilities                                     17,814    13,043

Stockholders' equity                                  12,078    21,448

Total liabilities and stockholders' equity          $ 29,892  $ 34,491


    Source: Cerus Corporation

Cerus to Release Second Quarter Results on July 29, 2010

Mon, 12 Jul 2010 08:30:00 -0400

CONCORD, Calif.--(BUSINESS WIRE)-- Cerus Corporation (NASDAQ:CERS) announced today that its second quarter 2010 financial results will be released on Thursday, July 29, 2010, after the close of the stock market. The company will host a conference call and webcast at 4:15 p.m. ET that afternoon, during which management will discuss the Company's financial results and provide a general business overview and outlook.

To access the live webcast, please visit the Investor Relations page of the Cerus web site at http://investor.cerus.com. Alternatively, you may access the live conference call by dialing 877-407-0782 (U.S.) or 201-689-8567 (international).

A replay will be available on the company's web site, or by dialing 877-660-6853 (U.S.) or 201-612-7415 (international) and entering account number 286 and conference ID number 353769. The replay will be available approximately two hours after the call through August 13, 2010.

ABOUT CERUS

Cerus Corporation is a biomedical products company focused on commercializing the INTERCEPT Blood System to enhance blood safety. The INTERCEPT system is designed to reduce the risk of transfusion-transmitted diseases by inactivating a broad range of pathogens such as viruses, bacteria and parasites that may be present in donated blood. The nucleic acid targeting mechanism of action enables INTERCEPT treatment to inactivate both established transfusion threats, such as hepatitis B and C, HIV, West Nile virus and bacteria, as well as emerging pathogens such as influenza, malaria and dengue. Cerus currently markets and sells the INTERCEPT Blood System for both platelets and plasma in Europe, Russia, the Middle East and selected countries in other regions around the world. The INTERCEPT red blood cell system is in clinical development. See http://www.cerus.com for more information.

INTERCEPT and the INTERCEPT Blood System are trademarks of Cerus Corporation.


    Source: Cerus Corporation

Study Results Presented at International Transfusion Congress Highlight Cerus' Progress Toward Improving the Safety of Platelets, Plasma and Red Blood Cells

Wed, 30 Jun 2010 08:30:00 -0400

Data Supports Efficacy, Safety, Quality and Feasibility of INTERCEPT Pathogen Inactivation Process

CONCORD, Calif.--(BUSINESS WIRE)-- Cerus Corporation (NASDAQ:CERS) announced results of 22 abstracts presenting experiences with the INTERCEPT Blood System for platelets, plasma and red blood cells during the XXXIst International Congress of the International Society for Blood Transfusion in Berlin, Germany held from June 26 to July 1. Studies included data collected in Spain, France, Germany, Italy, Belgium, Sweden, Luxembourg and Scotland, covering a broad range of topics from in vitro results of routine validations to therapeutic efficacy of treated platelets.

"These studies underscore the growing use of INTERCEPT pathogen inactivation by blood centers in many European countries, and reflect our consistent experience that the platelet and plasma treatment processes are rapidly and successfully integrated into routine production," said Dr. Laurence Corash, Cerus' chief medical officer. "The INTERCEPT red blood cell study published in collaboration with German Red Cross researchers demonstrates our progress toward designing a treatment process that can complement our platelet and plasma products and maintain a similar user experience for pathogen inactivation of red blood cells in the future."

Key presentations of interest include:

    --  A Multi-Center Study of Therapeutic Efficacy and Safety of Platelet
        Components Prepared with Pathogen Inactivation (INTERCEPT) Stored for 6
        or 7 Days Prior to Transfusion, by M Lozano, N Knutson, R Tardivel et
        al: INTERCEPT-treated platelet components were found to be effective for
        patient support following extended storage of up to seven days in a
        clinical study conducted at medical centers in Spain, the United
        Kingdom, Sweden and France. The purpose of the 201-patient study was to
        provide additional information for clinicians regarding extended storage
        of INTERCEPT platelets, which are approved for storage of up to seven
        days in accordance with CE marking, but have been more extensively
        characterized in studies storing platelets only up to five days. Cerus
        announced preliminary results of this study in January.
    --  INTERCEPT for Pathogen Inactivation (PI) in Platelet Concentrates (PC)
        Effectively Prevents Transfusion-Associated Graft-Versus-Host Disease
        (TA-GVHD), by JC Osselaer, L Defoin, C Doyen et al.: The Blood
        Transfusion Center of Mont-Godinne, Belgium, presented their analysis of
        3645 platelet transfusions to 186 patients at risk of developing
        TA-GVHD. No cases were reported in an experience spanning over six years
        since the center's adoption of INTERCEPT in 2003, leading investigators
        to conclude that INTERCEPT provides a safe prophylaxis against TA-GVHD
        in patients undergoing stem cell transplantation.
    --  Routine Production of Apheresis Plasma Pathogen Inactivated Using the
        INTERCEPT Blood System: Preservation of Plasma Quality, by S Massard, C
        Civadier, A Sailliol et al: The French Army blood service detailed their
        production results for INTERCEPT plasma, concluding that the system has
        been integrated into routine production without the need for additional
        personnel or facilities, with final plasma quality consistently meeting
        local regulatory requirements. Similar validation results for INTERCEPT
        plasma were also presented by French national transfusion service
        centers in Centre Atlantique and Auverge Loire.
    --  Characterization of Red Cell Concentrates Treated with the S-303
        Pathogen Inactivation System and Stored in Saline Adenine
        Glucose-Mannitol (SAGM) Solution, by R Henschler, K Janetzko, B Erterek
        et al.: German Red Cross and Cerus investigators announced in vitro
        results characterizing the quality of red blood cells treated with the
        INTERCEPT process. Results from the study demonstrated that the
        treatment process is feasible for blood center technicians and produces
        red blood cell units meeting European quality standards.

A full list of abstracts can be viewed at http://www.interceptbloodsystem.com/isbtdgti2010.html.

ABOUT CERUS

Cerus Corporation is a biomedical products company focused on commercializing the INTERCEPT Blood System to enhance blood safety. The INTERCEPT system is designed to reduce the risk of transfusion-transmitted diseases by inactivating a broad range of pathogens such as viruses, bacteria and parasites that may be present in donated blood. The nucleic acid targeting mechanism of action enables INTERCEPT treatment to inactivate both established transfusion threats, such as hepatitis B and C, HIV, West Nile virus and bacteria, as well as emerging pathogens such as influenza, malaria and dengue. Cerus currently markets and sells the INTERCEPT Blood System for both platelets and plasma in Europe, Russia, the Middle East and selected countries in other regions around the world. The INTERCEPT red blood cell system is in clinical development. See http://www.cerus.com for more information.

INTERCEPT and INTERCEPT Blood System are trademarks of Cerus Corporation.


    Source: Cerus Corporation

Cerus Appoints William "Obi" Greenman as Chief Business Officer

Wed, 19 May 2010 08:30:00 -0400

CONCORD, Calif.--(BUSINESS WIRE)-- Cerus Corporation (NASDAQ:CERS) announced today that William "Obi" Greenman has been promoted to chief business officer. This position capitalizes on his demonstrated leadership in achieving business goals for INTERCEPT Blood System and guiding Cerus' corporate strategy.

"Obi's contributions to the development, commercialization, marketing and sales of the INTERCEPT Blood System have been a critical element in Cerus' success," said Claes Glassell, Cerus' president and chief executive officer. "He brings a passion and depth of knowledge that we expect will continue to drive the company forward as we grow our sales in Europe, pursue new markets for INTERCEPT platelets and plasma, and advance our INTERCEPT red cell program toward European approval."

Mr. Greenman has been Cerus' senior vice president, business development and marketing since 2008. From 2006 to 2008, he held the position of president, Cerus Europe, and prior to that, after returning to the company from a brief time in the venture capital business, he served as vice president, business development. Prior to joining Cerus in 1995 as director of business development, Mr. Greenman worked in various marketing and business development positions in Baxter's Biotech Division from 1991 to 1995.

ABOUT CERUS

Cerus Corporation is a biomedical products company focused on commercializing the INTERCEPT Blood System to enhance blood safety. The INTERCEPT system is designed to reduce the risk of transfusion-transmitted diseases by inactivating a broad range of pathogens such as viruses, bacteria and parasites that may be present in donated blood. The nucleic acid targeting mechanism of action allows INTERCEPT treatment to inactivate both established transfusion threats, such as hepatitis, HIV, West Nile virus and bacteria, as well as emerging pathogens such as influenza, malaria and dengue. Cerus currently markets and sells the INTERCEPT Blood System for both platelets and plasma in Europe, Russia, the Middle East and selected countries in other regions around the world. The INTERCEPT red blood cell system is in clinical development. Visit http://www.cerus.com for more information.

INTERCEPT and INTERCEPT Blood System are trademarks of Cerus Corporation.

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 the scope and rate of sales of the INTERCEPT Blood System, the pursuit of new markets for INTERCEPT platelets and plasma and European approval of the INTERCEPT red cell program. Words such as "expect" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon the company's current expectations. Actual results could differ materially from these forward-looking statements as a result of certain factors, including, without limitation, risks associated with commercial adoption of INTERCEPT pathogen inactivation technology, regulatory approvals, as well as other risks detailed in the Cerus' filings with, the Securities and Exchange Commission (SEC), including in Cerus' quarterly report on Form 10-Q for the quarter ended March 31, 2010, filed with the SEC on May 12, 2010. No pathogen inactivation system has been shown to inactivate all pathogens. 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.


    Source: Cerus Corporation

Whittemore Peterson Institute and Cerus Confirm Inactivation of XMRV by the INTERCEPT Blood System

Tue, 18 May 2010 08:00:00 -0400

Virus Linked to Chronic Fatigue Syndrome and Prostate Cancer is Viewed as a Blood Transfusion Risk

CONCORD, Calif. & RENO, Nev.--(BUSINESS WIRE)-- The Whittemore Peterson Institute for Neuro-Immune Disease (WPI) and Cerus Corporation (NASDAQ:CERS) announced positive results from a study demonstrating the efficacy of the INTERCEPT Blood System to inactivate XMRV, a human retrovirus, in donated platelet components. After sample platelet components were inoculated with XMRV, the infected blood components were treated with INTERCEPT, a system that inactivates pathogens in donated blood. Following treatment, no evidence of infectious XMRV was detected in blood samples. The study results have been submitted for presentation at the AABB Annual Meeting in October.

XMRV is a retrovirus that has recently been linked to prostate cancer and myalgic encephalomyelitis/chronic fatigue syndrome (ME/CFS). Other retroviruses, such as HIV and HTLV-1, are known to cause cancer and immune deficiencies. Studies by WPI researchers and collaborators have confirmed that infectious XMRV can be found in human blood cells and that the virus is transmitted through body fluids.

In the joint study conducted by WPI and Cerus, blood samples were evaluated in a validated virus culture test, which allows sensitive detection of XMRV particles that are capable of reproducing. Cerus' INTERCEPT Blood System inactivates pathogens by crosslinking their DNA or RNA, thereby blocking replication and preventing subsequent transmission of infection. INTERCEPT has previously been demonstrated to inactivate high levels of both HIV and HTLV. Cerus and WPI decided to collaborate on inactivation studies for XMRV in order to characterize the treatment's efficacy against this newly recognized human retrovirus.

While research is ongoing regarding the prevalence and disease association of the virus, concern for potential transfusion transmission of XMRV has already led blood centers in Australia, Canada, the United Kingdom and New Zealand to ban donations from blood donors with ME/CFS. Earlier this month, the Chronic Fatigue Syndrome Advisory Committee of the U.S. Department of Health and Human Services voted unanimously to recommend that U.S. blood centers also defer donors with diagnosed ME/CFS.

"As XMRV is a human retrovirus like HIV, one immediately wonders about the possibility for transfusion transmission of XMRV," said Dr. Judy Mikovits, director of research at WPI. "We chose to work with Cerus on this joint study because developing prevention strategies for XMRV-linked neuro-immune diseases is an important element of the WPI's mission."

"Due to its leadership in the discovery and characterization of XMRV, WPI is an ideal partner to confirm the efficacy of our treatment process," added Lily Lin, vice president of global scientific affairs for Cerus. "Emerging pathogens such as XMRV are a particular challenge for blood transfusion services and highlight a weakness in the current blood banking system."

The INTERCEPT systems for platelets and plasma are used by over 40 blood centers in Europe, Russia and the Middle East. The INTERCEPT Blood System is not yet approved for use in the United States.

ABOUT THE WHITTEMORE PETERSON INSTITUTE

The Whittemore Peterson Institute for Neuro-Immune Disease exists to bring discovery, knowledge, and effective treatments to patients with illnesses that are caused by acquired dysregulation of the immune system and the nervous system, often resulting in lifelong disease and disability. The Whittemore Peterson Institute is the first institute in the world dedicated to neuro-immune diseases, integrating patient treatment, basic and clinical research and medical education.

ABOUT CERUS

Cerus Corporation is a biomedical products company focused on commercializing the INTERCEPT Blood System to enhance blood safety. The INTERCEPT system is designed to reduce the risk of transfusion-transmitted diseases by inactivating a broad range of pathogens such as viruses, bacteria and parasites that may be present in donated blood. The nucleic acid targeting mechanism of action allows INTERCEPT treatment to inactivate both established transfusion threats, such as hepatitis, HIV, West Nile virus and bacteria, as well as emerging pathogens such as influenza, malaria and dengue. Cerus currently markets and sells the INTERCEPT Blood System for both platelets and plasma in Europe, Russia, the Middle East and selected countries in other regions around the world. The INTERCEPT red blood cell system is in clinical development. Visit http://www.cerus.com for more information.

INTERCEPT and INTERCEPT Blood System are trademarks of Cerus Corporation.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6295011&lang=en


    Source: Cerus Corporation

Cerus Corporation Announces First Quarter 2010 Financial Results

Thu, 29 Apr 2010 16:01:00 -0400

64% Year-over-Year Revenue Growth

CONCORD, Calif.--(BUSINESS WIRE)-- Cerus Corporation (NASDAQ: CERS) today announced financial results for the first quarter ended March 31, 2010.

Total revenue was $5.7 million during the first quarter of 2010, up 64% from the $3.5 million recognized during same period in 2009. Product revenue for the INTERCEPT Blood System was $5.5 million during the first quarter of 2010, up more than 75% from the $3.1 million recognized during the same period in 2009. First quarter 2010 product revenue marks the fourth consecutive quarter of growth. Disposable kit sales to customers was the primary contributor to the year-over-year growth, representing almost 90% of product revenue during the first quarter of 2010. Government grant revenue in the first quarter of 2010 was $0.2 million, compared to $0.4 million in the first quarter of 2009.

Total operating expenses for the first quarter of 2010 were $6.5 million, down from $8.8 million for the same period in 2009. The decrease in operating expenses was due to the Company's focused cost containment efforts and full implementation of its restructuring plans initiated in March 2009.

Net loss for the first quarter of 2010 was $5.0 million, or $0.13 per share, compared to a net loss of $7.4 million, or $0.23 per share, for the first quarter of 2009.

At March 31, 2010, the Company had cash, cash equivalents and short-term investments of $19.0 million compared to $19.9 million at December 31, 2009. During the first quarter of 2010, the Company closed a $10 million growth capital facility, under which it drew $5.0 million. The facility provides for nine months of interest-only payments on each draw, followed by thirty months of principal and interest payments. The Company believes that cash used for operations during the first quarter was unusually high compared to expected quarterly cash usage for the remainder of the year, primarily due to non-routine working capital payments during the first quarter.

"We continue to make significant progress on growing our European platelet and plasma business while maintaining our financial discipline and controlling costs," said Claes Glassell, president and CEO of Cerus Corporation. "We believe we have the necessary capital in place to execute on our plan of driving that business to profitability."

RECENT HIGHLIGHTS:

    --  Product sales in the first quarter of 2010 were $5.5 million,
        establishing a new record for quarterly INTERCEPT sales;
    --  Signed agreement with the Swiss Red Cross for full implementation of
        INTERCEPT in 11 of 13 blood centers; and
    --  Secured $10 million growth capital facility.

QUARTERLY CONFERENCE CALL

A replay will be available on the Cerus web site, or by dialing 877-660-6853 (U.S.) or 201-612-7415 (international) and entering account number 286 and conference ID number 349046. The replay will be available approximately two hours after the call through May 14, 2010.

ABOUT CERUS

INTERCEPT and the INTERCEPT Blood System are trademarks of Cerus Corporation.

Forward-Looking Statements

Except for the historical statements contained herein, this press release contains forward-looking statements concerning the Company's prospects and results, including the Company's expectations regarding expected cash used for operations for the remainder of 2010, the sufficiency of capital and profitability. Because the Company's forward-looking statements are subject to risks and uncertainties, there are important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include the risks and uncertainties disclosed from time to time in reports filed by the Company with the SEC, including most recently the Company's Form 10-K for the fiscal year ended December 31, 2009 filed with the SEC on March 10, 2010. The Company disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release.

Financial Tables Attached


CERUS CORPORATION

CONDENSED CONSOLIDATED UNAUDITED STATEMENTS OF OPERATION

(In thousands except per share information)

                                                     Three Months Ended

                                                     March 31,

                                                     2010        2009

Revenue

Product revenue                                      $ 5,500     $ 3,085

Government grant and cooperative agreements            222         403

Total Revenue                                          5,722       3,488

Cost of product revenue                                3,158       2,094

Gross profit                                           2,564       1,394

Operating expenses

Research and development                               1,250       2,012

Selling, general and administrative                    5,270       6,101

Restructuring                                          --          712

Total operating expenses                               6,520       8,825

Loss from operations                                   (3,956 )    (7,431 )

Interest and other income (expense), net               (1,066 )    34

Net loss                                             $ (5,022 )  $ (7,397 )

Net loss per share - basic and diluted               $ (0.13  )  $ (0.23  )

Weighted average common shares outstanding used for
basic and diluted loss per share

Basic                                                  38,830      32,590

Diluted                                                38,830      32,590


Cerus Corporation

Condensed Consolidated Unaudited Balance Sheets

(In thousands)

                                                    March 31,  December 31,

                                                    2010       2009

Cash, cash equivalents, and short-term investments  $ 18,986   $ 19,931

Accounts receivable and other current assets          4,688      4,721

Inventories                                           6,842      7,707

Property and equipment, net                           1,116      1,217

Other assets                                          865        915

Total Assets                                        $ 32,497   $ 34,491

Accounts payable and accrued liabilities            $ 6,829    $ 9,709

Accrued restructuring                                 24         113

Deferred revenue                                      375        345

Warrant liability                                     3,699      2,737

Other current liabilities                             9          9

Long-term note payable, net                           4,465      --

Other long-term liabilities                           108        130

Total liabilities                                     15,509     13,043

Stockholders' equity                                  16,988     21,448

Total liabilities and stockholders' equity          $ 32,497   $ 34,491


    Source: Cerus Corporation

Cerus to Release First Quarter Results on April 29, 2010

Wed, 07 Apr 2010 08:30:00 -0400

CONCORD, Calif.--(BUSINESS WIRE)-- Cerus Corporation (NASDAQ:CERS) announced today that its first quarter 2010 financial results will be released on Thursday, April 29, 2010, after the close of the stock market. The company will host a conference call and webcast at 4:15 p.m. ET that afternoon, during which management will discuss the Company's financial results and provide a general business overview and outlook.

A replay will be available on the company's web site, or by dialing 877-660-6853 (U.S.) or 201-612-7415 (international) and entering account number 286 and conference ID number 349046. The replay will be available approximately two hours after the call through May 14, 2010.

ABOUT CERUS

Cerus Corporation is a biomedical products company focused on commercializing the INTERCEPT Blood System to enhance blood safety. The INTERCEPT system is designed to reduce the risk of transfusion-transmitted diseases by inactivating a broad range of pathogens such as viruses, bacteria and parasites that may be present in donated blood. The nucleic acid targeting mechanism of action allows INTERCEPT treatment to inactivate both established transfusion threats, such as hepatitis, HIV, West Nile virus and bacteria, as well as emerging pathogens such as influenza, malaria and dengue. Cerus currently markets and sells the INTERCEPT Blood System for both platelets and plasma in Europe, Russia, the Middle East and selected countries in other regions around the world. The INTERCEPT red blood cell system is in clinical development. Visit http://www.cerus.com for more information.

INTERCEPT and the INTERCEPT Blood System are trademarks of Cerus Corporation.


    Source: Cerus Corporation

Cerus and Oxford Finance Corporation Enter into $10 Million Growth Capital Credit Facility

Tue, 06 Apr 2010 08:30:00 -0400

CONCORD, Calif.--(BUSINESS WIRE)-- Cerus Corporation (NASDAQ:CERS) announced today that it has secured a $10 million growth capital credit facility from Oxford Finance Corporation. The credit facility provided a $5 million loan to Cerus upon closing, which occurred on March 31, 2010, and allows Cerus to draw an additional $5 million between September 30, 2010 and December 31, 2010. The credit facility is secured by Cerus' assets other than intellectual property.

"We are pleased to be working with Oxford Finance and to have put in place a non-dilutive growth capital facility," said Kevin D. Green, vice president, finance and chief accounting officer of Cerus Corporation. "We believe this financing provides us with the capital necessary to continue growing our European platelet and plasma business and realize our plan of driving that business to profitability."

"Oxford prides itself on providing capital to companies like Cerus with strong management teams and leading technologies," said J. Alden Philbrick, president and chief executive officer of Oxford Finance Corporation. "We believe the capital we are providing to Cerus effectively leverages their assets and steadily growing INTERCEPT revenue base."

ABOUT CERUS

Cerus Corporation is a biomedical products company focused on commercializing the INTERCEPT Blood System to enhance blood safety. The INTERCEPT system is designed to reduce the risk of transfusion-transmitted diseases by inactivating a broad range of pathogens such as viruses, bacteria and parasites that may be present in donated blood. The nucleic acid targeting mechanism of action allows INTERCEPT treatment to inactivate both established transfusion threats, such as hepatitis, HIV, West Nile virus and bacteria, as well as emerging pathogens such as influenza, malaria and dengue. Cerus currently markets and sells the INTERCEPT Blood System for both platelets and plasma in Europe, Russia, the Middle East and selected countries in other regions around the world. The INTERCEPT red blood cell system is in clinical development. See http://www.cerus.com for more information.

ABOUT OXFORD

Oxford Finance Corporation, a subsidiary of Sumitomo Corporation, is a specialty finance firm providing senior secured loans to public and private life science companies worldwide. For 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $1 billion in loans, with lines of credit ranging from $500 thousand to $30 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California and Massachusetts. For more information, visit www.oxfordfinance.com.

INTERCEPT and the INTERCEPT Blood System are trademarks of Cerus Corporation.

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 potential draws against the credit facility, expansion of Cerus' commercial operations and plans to achieve profitability. Actual results could differ materially from these forward-looking statements as a result of certain factors, including, without limitation, risks associated with the commercialization and market acceptance of the INTERCEPT Blood System, the sufficiency of Cerus' cash resources as well as other risks detailed in Cerus' filings with the Securities and Exchange Commission, including Cerus' Annual Report on Form 10-K for the fiscal year ended December 31, 2009. 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.


    Source: Cerus Corporation