Cerus Corporation reported third-quarter 2026 revenue of $64 million, beating the $63.25 million analyst consensus by $750,000. Its shares, which finished the regular session up 3.51% at $2.36, dropped 6.78% after hours to $2.20.
Product revenue increased 10% from a year earlier to $57.7 million. Year-to-date product revenue reached $168.8 million, up 14%. Cerus said North American product revenue rose 12%, supported by demand for INTERCEPT platelet products and growth in its INTERCEPT for Cryoprecipitation (IFC) business. Placements of its INT200 illuminator in Europe, the Middle East and Africa also exceeded company expectations.
Adjusted EBITDA was $5.7 million, compared with $5 million a year earlier, marking the company’s 10th consecutive quarter in positive territory. Cerus reported a GAAP net loss of less than $1 million and $3 million in positive operating cash flow. Cash and equivalents stood at $57.1 million on September 30. Operating expenses rose 5% year over year to $36.2 million, while research and development expenses fell 10%.
The company also reported positive top-line results from its Phase III RedeS study of pathogen reduction for red blood cells. Cerus said the trial met its primary efficacy endpoint and found no statistically significant difference in primary safety outcomes between the treated and control groups. Full analysis is expected in the first half of 2027, while secondary endpoints remain under review.
Cerus reaffirmed its 2026 product revenue guidance of $229 million to $231 million and its IFC sales outlook of $23 million to $25 million. Management expects some gross-margin relief in the fourth quarter from recent U.S. dollar strength and continued benefits from moving IFC to a kit-only model.
The company said it now expects CE mark clearance for its red-cell program in late 2027. It has also received preliminary FDA questions about its PMA submission for the INT200 platelet illuminator and said it believes the issues can be addressed. Management cited geopolitical and foreign-exchange pressures as near-term challenges, while describing international customer relationships as strong.
Sources: Investing.com News.