CERUS CORP Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Cerus Corp (CERS) has filed its Q1 2024 10-Q report, detailing its financial position and operations.</b>

AI Summary

CERUS CORP (CERS) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Filing is a 10-Q for Cerus Corp (CERS) for the period ending March 31, 2024. The company is incorporated in Delaware and its fiscal year ends December 31. Business address is 1220 Concord Avenue, Suite 600, Concord, CA 94520. Previous company name was Cerus Technologies Inc., with a name change date of July 31, 1996. The filing references various financial instruments and agreements including credit agreements and equity incentive plans.

Why It Matters

For investors and stakeholders tracking CERUS CORP, this filing contains several important signals. This filing provides investors with the latest quarterly financial performance and operational updates for Cerus Corp. Understanding the details within this 10-Q is crucial for assessing the company's current financial health, risks, and future prospects.

Risk Assessment

Risk Level: medium — CERUS CORP shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and risk disclosures, but lacks specific performance metrics or forward-looking statements that would indicate a higher risk level.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-Q to understand Cerus Corp's current operational status and potential challenges.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 1996-07-31 — Name Change Date (FORMER COMPANY)
• 000-21937 — SEC File Number (SEC FILE NUMBER)
• 24909531 — Film Number (FILM NUMBER)

Key Players & Entities

• CERUS CORP (company) — FILER
• CERS (company) — Ticker Symbol
• 10-Q (filing) — FORM TYPE
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 1220 CONCORD AVENUE (address) — BUSINESS ADDRESS
• DE (location) — STATE OF INCORPORATION
• 19960731 (date) — DATE OF NAME CHANGE
• Etablissement Francais Du Sang (company) — Customer Concentration Risk

FAQ

Industry Context

Cerus Corp operates in the Surgical & Medical Instruments & Apparatus industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review the risk factors section for potential business challenges.
3. Examine any disclosures related to debt and equity.

Year-Over-Year Comparison

This is the initial filing data extracted for the 10-Q report ending March 31, 2024. No prior filing data was provided for comparison.

Key Financial Figures

• $0.001 — h Registered Common Stock , par value $0.001 per share CERS The Nasdaq Stock Mar

Filing Documents

• cers-20240331.htm (10-Q) — 2038KB
• cers-ex31_1.htm (EX-31.1) — 13KB
• cers-ex31_2.htm (EX-31.2) — 13KB
• cers-ex32_1.htm (EX-32.1) — 7KB
• 0000950170-24-052296.txt (&nbsp;) — 8940KB
• cers-20240331.xsd (EX-101.SCH) — 1320KB
• cers-20240331_htm.xml (XML) — 1628KB

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets – March 31, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations – Three months ended March 31, 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive Loss – Three months ended March 31, 2024 and 2023 3 Condensed Consolidated Statements of Stockholders' Equity – Three months ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows – Three months ended March 31, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 32 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 72 Item 3. Defaults Upon Senior Securities 72 Item 4. Mine Safety Disclosures 72 Item 5. Other Information 72 Item 6. Exhibits 73

: FINANCI AL INFORMATION

PART I: FINANCI AL INFORMATION

FINANC IAL STATEMENTS

ITEM 1. FINANC IAL STATEMENTS CERUS CORPORATION CONDENSED CONSOLIDA TED BALANCE SHEETS (in thousands) March 31, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 20,527 $ 11,647 Short-term investments 51,651 54,205 Accounts receivable, net 22,535 35,500 Current inventories 39,862 39,868 Prepaid and other current assets 3,594 3,221 Total current assets 138,169 144,441 Non-current assets: Property and equipment, net 8,099 8,640 Operating lease right-of-use assets 10,224 10,713 Goodwill 1,316 1,316 Restricted cash 1,708 1,712 Non-current inventories 17,913 19,501 Other assets 11,707 11,425 Total assets $ 189,136 $ 197,748 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 16,616 $ 23,842 Accrued liabilities 16,154 19,225 Debt – current 20,120 20,000 Operating lease liabilities – current 2,188 2,452 Deferred revenue 2,167 2,002 Total current liabilities 57,245 67,521 Non-current liabilities: Debt – non-current 64,826 59,796 Operating lease liabilities – non-current 13,469 13,751 Other non-current liabilities 3,434 3,236 Total liabilities 138,974 144,304 Commitments and contingencies Stockholders' equity: Common stock 185 181 Additional paid-in capital 1,104,605 1,098,353 Accumulated other comprehensive loss ( 1,122 ) ( 1,274 ) Accumulated deficit ( 1,054,298 ) ( 1,044,610 ) Total Cerus Corporation stockholders' equity 49,370 52,650 Noncontrolling interest 792 794 Total liabilities and stockholders' equity $ 189,136 $ 197,748 See accompanying Notes to Condensed Consolidated Financial Statements. 1 CERUS CORPORATION CONDENSED CONSOLIDATED S TATEMENTS OF OPERATIONS UNAUDITED (in thousands, except per share data) Three Months Ended March 31, 2024 2023 Product

View Full Filing

View this 10-Q filing on SEC EDGAR