CERS · Cerus Corporation

Cerus Corporation delivered a strong first quarter in 2026, with total revenue of $59.9 million, up 23% year-over-year, driven by product revenue growth of 24% to $53.7 million. The growth was primarily fueled by the global platelet franchise and increased U.S. sales of INTERCEPT Fibrinogen Complex (IFC), which saw demand surge approximately 120% year-over-year. Product gross margin declined to 52.0% from 58.8% in the prior year, impacted by a one-time benefit in 2025, inflationary pressures, unfavorable foreign currency, and tariffs. Operating expenses decreased 7% to $34.5 million, with R&D down 12% due to lower INT200 development costs as the company approaches its planned PMA submission. Net loss narrowed significantly to $1.6 million ($0.01 per share) from $7.7 million ($0.04 per share), and non-GAAP adjusted EBITDA improved to $4.0 million from $0.2 million. The company raised its full-year 2026 product revenue guidance to $227-$231 million (10-12% growth), including IFC revenue of $22-$24 million. Additionally, Cerus announced a CEO transition: Vivek Jayaraman, current COO, will become President and CEO effective July 1, 2026, while William 'Obi' Greenman will become Executive Chairman. The company also signed a four-year supply agreement with the French Blood Establishment (EFS) for the INTERCEPT Blood System and INT200. Cash and investments stood at $80.4 million at quarter end, with $65.0 million outstanding on its term loan and $19.9 million drawn on its revolving credit facility.