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    Cerus Corp (CERS)

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    Business Description

    Cerus Corporation (CERS) is a biomedical products company dedicated to enhancing the safety of the global blood supply. The company develops and commercializes the INTERCEPT Blood System, a proprietary technology designed to reduce blood-borne pathogens and donor leukocytes in blood components intended for transfusion. Cerus operates globally, selling its products in regions such as the United States, Europe, the Middle East, and Latin America, with a focus on pathogen reduction in platelets, plasma, and red blood cells.

    1. INTERCEPT Blood System for Platelets and Plasma - Reduces pathogens in platelets and plasma to ensure safer transfusions. Approved by the FDA in the U.S. and certified in the EU, it is marketed globally.

      • Disposable Kits - Used for pathogen reduction during blood processing.
      • UVA Illumination Devices - Supports the pathogen reduction process.
      • Maintenance Services - Includes spare parts and storage solutions for illuminators.

    2. INTERCEPT Blood System for Cryoprecipitation - Produces INTERCEPT Fibrinogen Complex (IFC) for treating bleeding disorders and pathogen-reduced plasma, cryoprecipitate reduced. Approved by the FDA for use in the U.S..

    3. INTERCEPT Blood System for Red Blood Cells - Currently in development, this system is undergoing Phase 3 clinical trials in the U.S. and has a pending CE Certificate of Conformity application in the EU. It aims to reduce pathogens in red blood cells for transfusion.

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    Executive Team

    NamePositionStart DateShort Bio
    William M. GreenmanPresident, Chief Executive Officer, and DirectorApril 2011Joined Cerus in 1995 as Director of Business Development. Held roles including Senior VP of Business Development and Marketing, Chief Business Officer, and President of Cerus Europe. Holds a B.A.S. in economics and biological sciences from Stanford University.
    Kevin D. GreenVice President, Finance, and Chief Financial OfficerFebruary 2013Previously served as VP, Finance and Chief Accounting Officer from March 2009. Held financial management roles at Macromedia, Inc. from 2000 to 2006. Certified public accountant with a BS in Accounting from California State University, Fresno.
    Vivek JayaramanChief Operating OfficerMarch 2020Previously Chief Commercial Officer from August 2016. Held leadership roles at TriVascular Technologies, Inc. and Medtronic, Inc. Holds an MBA from the Wharton School and dual bachelor’s degrees from the University of Michigan.
    Richard BenjaminChief Medical OfficerJuly 2015Former Chief Medical Officer for the American Red Cross (2006–2015). Board Member and Regional Director for North America for the International Society of Blood Transfusion. Adjunct Full Professor of Pathology at Georgetown University. Holds a Ph.D. from Cambridge University and completed post-doctoral research at Stanford University.
    Chrystal JensenChief Legal Officer and General CounselDecember 2012Former Senior Corporate Counsel at Zynga Inc. (2011–2012) and partner at Cooley LLP. Specializes in corporate and securities law. Holds a BS from the University of Colorado and a JD from the University of Chicago.
    Carol M. MooreSenior Vice President, Regulatory Affairs and QualityFebruary 2013Previously VP, Regulatory Affairs, Quality and Clinical (2008–2013). Held roles at Bayer Corporation, including VP, Worldwide Regulatory Affairs. Focused on registration and compliance of biological and biotech products. Holds a BS in Biological Science from California State University, Hayward.
    Dean GregoryMember, Board of DirectorsJuly 1, 2024 (expected)Brings over 30 years of experience in global blood transfusion and cell therapy. Former President, Global Commercial Operations, Med Tech at Fresenius Kabi. Held leadership roles at Fenwal Inc. and Baxter International. Focused on commercialization, product development, and strategy in transfusion medicine and cell therapy.

    Questions to Ask Management

    1. With your gross margins expected to remain relatively stable near current levels, what specific strategies do you have to significantly improve margins moving forward?
    2. Given that a significant portion of your R&D expenses are funded by BARDA, how are you preparing for potential fluctuations in government funding, and what steps are you taking to mitigate risks associated with this dependency?
    3. Considering the anticipated regulatory approval of the LED illuminator in Europe in 2025 and the PMA submission in the U.S. in 2026, how does this timeline affect your competitive positioning, and what measures are you taking to address any potential market challenges?
    4. As demand for INTERCEPT Fibrinogen Complex (IFC) grows, do you anticipate any manufacturing capacity constraints, and how might these impact your ability to meet customer demand and revenue growth targets?
    5. With the completion of the ReCePI trial and the planned conclusion of the RedeS trial, how do you plan to offset the potential decrease in government contract revenue and sustain growth in this area?