**Cerus Corporation Reports Fiscal Year 2025 Results**
Cerus Corporation (Nasdaq: CERS), a biomedical products company focused on enhancing blood safety, announced its financial results for the fiscal year ended December 31, 2025. The company reported total revenue of $233.8 million, an increase of 16% compared to $201.3 million in 2024. Product revenue, the primary driver, reached $206.1 million, up 14% from $180.3 million in the previous year, driven by increased sales volume of disposable platelet kits and IFC sales to U.S. customers. Government contract revenue also contributed, increasing 31% to $27.7 million from $21.1 million in 2024, primarily due to increased revenue from BARDA related to the 2024 BARDA Agreement.
The company's cost of product revenue increased to $93.8 million, up 16% from $80.7 million in 2024, consistent with the growth in product revenue. Research and development expenses rose by 15% to $67.7 million, driven by costs related to red blood cells under BARDA agreements, workforce-related expenses, and support for the new LED-based illuminator. Selling, general, and administrative expenses also increased by 7% to $80.9 million, primarily due to higher workforce costs. The company's net loss attributable to Cerus Corporation was $15.6 million, or $0.08 per share, compared to a net loss of $20.9 million, or $0.11 per share, in the prior year.
Key operational developments included the completion of enrollment in the Phase 3 RedeS study for the red blood cell system during the fourth quarter of 2025, with preliminary results expected in late 2026. The company also resubmitted its application for a CE Certificate of Conformity for the red blood cell system in 2025, transferring the review of the API from SÚKL to ANSM. As of December 31, 2025, Cerus had 275 employees company-wide, with an average employee age of 46.5 years and an average length of service of 7.4 years.
Looking ahead, Cerus expects product revenue for INTERCEPT disposable kits to increase, driven by growth in the platelet business and IFC sales. However, government contract revenue is anticipated to decrease due to the 2016 BARDA Agreement ending in September 2026. The company plans to submit its PMA application for its new LED-based illuminator in mid-2026. Cerus also expects to incur additional research and development expenses related to regulatory approvals, new product development, and clinical trials. The company's ability to achieve profitability depends on widespread commercial adoption of its products, successful completion of clinical trials, and continued access to funding under government contracts and the capital markets.
About CERUS CORP
Cerus Corporation develops and commercializes the INTERCEPT Blood System, a pathogen reduction technology designed to inactivate viruses, bacteria, parasites, and white blood cells in donated blood components such as platelets, plasma, and red blood cells. Serving blood centers, hospitals, and healthcare providers globally, Cerus aims to enhance blood safety by reducing transfusion-transmitted infections. Its business model relies on regulatory approvals, direct sales, and distributor partnerships across multiple international markets.
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