Eye-Catching Stock to Track: Cerus Corporation’s (NASDAQ: CERS)

Shares of Cerus Corporation’s (NASDAQ: CERS) closed the trading at a price of $5.43 with the positive/negative change of +1.50%. In the past session approximately 1,780,335 shares were exchanged against the average daily trading volume of 840,353 shares. The stock touched to the maximum level of $5.77, and it reached the lower level of $5.29 in past session.

Cerus Corporation (CERS) reported recently financial results for the third quarter ended September 30, 2018.

Third Quarter Highlights and Recent Events

  • Third quarter product revenue of $15.4M, a 43% raise contrast to the third quarter of 2017
  • Year-over-year worldwide disposable kit volumes raised 85% in the third quarter of 2018
  • 2018 product revenue guidance revised upwards to a range of $58M to $60M, representing an raise of 33% to 38% contrast to 2017 product revenue
  • Notified TÜV SÜD in October of the Company’s request to file its planned CE Mark submission in 60 days for INTERCEPT red blood cells
  • Received FDA Breakthrough Device Designation for pathogen-reduced cryoprecipitate

Revenue

  • Product revenue during the third quarter of 2018 was $15.4M, contrast to $10.8M during the same period in 2017. The raise in third quarter product revenue was led by gains in platelet kit sales, which were partially offset by a year-over-year decline in illuminator sales. Third quarter 2017 illuminator sales benefited from the initial instrument shipments pursuant to the Company’s expanded supply contract with EFS, the French National Blood Service. Year-to-date product revenue totaled $44.4M, an raise of 62% contrast to the same period of the previous year.

Gross Margins

  • Gross margins on product revenue during the third quarter of 2018 were 47%, contrast to 50% for the third quarter of 2017. The change in gross margin was primarily attributable to lower selling prices associated with high volume consumers, and to a lesser extent, the unfavorable impact of foreign exchange rates. Gross margins through the first nine months of 2018 were 48% contrast to 51% in the same period of the previous year.

Operating Expenses

  • Total operating expenses were $24.8M for the quarter ended September 30, 2018, contrast to $20.1M for the quarter ended September 30, 2017. Year-to-date, operating expenses totaled $72.2M contrast to $66.0M in the same period of the previous year.

Net Loss

  • Net loss for the third quarter of 2018 was $14.2M, or $0.11 per diluted share, contrast to a net loss of $13.4M, or $0.12 per diluted share, for the third quarter of 2017. Year-to-date net loss was $41.4M, or $0.32 per diluted share, contrast to a net loss of $49.1M, or $0.46 per diluted share, in the first nine months of 2017.

Cash, Cash Equivalents and Investments

  • At September 30, 2018, the Company had cash, cash equivalents and short-term investments of $119.0M, contrast to $60.7M at December 31, 2017.
  • At September 30, 2018, the Company had about $29.9M in outstanding debt under its loan contract with Oxford Finance contrast to $29.8M at December 31, 2017.

CERS net profit margin of the firm was recorded at -71.00% and operating profit margin was calculated at -67.70% while gross profit margin was measured as 56.60%. Beta factor, which measures the riskiness of the security, was registered at 1.52.

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