On January 11, 2021 Cerus Corporation (Nasdaq: CERS) reported preliminary product revenue for the fourth quarter and full year 2020 and provided 2021 product revenue guidance (Press release, Cerus, JAN 11, 2021, View Source [SID1234573804]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Cerus’ unaudited preliminary product revenue for the fourth quarter of 2020 totaled $28.2 million, an increase of 35% over the $20.9 million recognized during the same period in the prior year. Based on its fourth quarter unaudited preliminary product revenue, the Company expects full year 2020 product revenue of $91.9 million, exceeding the Company’s current 2020 product guidance range of $89 million to $91 million. The preliminary product revenue results have not been audited and are subject to change.

Preliminary fourth quarter product revenue would represent the highest quarterly product revenue ever reported by Cerus.

"Despite the challenges that our blood center customers, hospitals and we have faced with the COVID-19 pandemic, demand for INTERCEPT continues to grow impressively. While we anticipate that COVID-19 may still impact our access to blood centers and hospitals in the U.S. and western Europe in 2021, we nonetheless expect to see continued growth in INTERCEPT platelet kit demand, particularly in the U.S. as the new October 1 deadline for compliance with the FDA guidance on bacterial safety approaches," said William ‘Obi’ Greenman, Cerus’ president and chief executive officer.

"2021 will also mark our first sales of a biologic therapeutic product – Pathogen Reduced Cryoprecipitated Fibrinogen Complex. Our initial, limited launch will be a building phase ahead of a much broader, nationally focused rollout we expect in 2022. Based on our interactions and work to date, we are encouraged by the clinician reception to the new product and look forward to introducing the first manufactured products to hospitals for transfusion to patients this year," continued Greenman.

Despite ongoing pandemic-related customer access limitations, the Company expects full year 2021 product revenue will be in the range of $106 million to $110 million, representing growth of approximately 15% to 20% compared to preliminary unaudited 2020 full year results. This growth is expected to be driven by strong platelet kit demand in the U.S., as well as expected continued market adoption in targeted international markets.

Cerus will provide complete fourth quarter and full year 2020 financial results and host a call to discuss both 2020 results and 2021 expectations in late February.