Press Release Details

Cerus Corporation Announces First Quarter Results

April, 27 2000

CONCORD, Calif., April 27 /PRNewswire/ --

Cerus Corporation (Nasdaq: CERS), a pioneer in systems to improve blood safety, today announced results for the first quarter ended March 31, 2000.

Revenue from development agreements and government grants for the quarter was $0.6 million, compared to $0.7 million for the first quarter of 1999. The net loss for the first quarter was $7.5 million, or $0.61 per share, compared to a net loss of $4.5 million, or $0.48 per share, for the first quarter of 1999. At March 31, 2000 the company had cash, cash equivalents and short-term investments totaling $57.2 million.

Cerus Corporation is developing Intercept(TM) Blood Systems to prevent the replication of viruses, bacteria and other pathogens as well as leukocytes responsible for a variety of adverse transfusion reactions. The biopharmaceutical company, in collaboration with Baxter Healthcare Corporation (NYSE: BAX), is designing the Intercept Blood Systems to target and inactivate blood-borne pathogens, such as HIV and hepatitis B and C, while leaving the therapeutic properties of the blood products intact. An estimated four million units of platelets, seven million units of fresh frozen plasma and 34 million units of red blood cells are transfused annually worldwide.

Cerus Corporation highlights include for the first quarter include:

* Intercept Platelet System: Completed enrollment of 100 patients in a

Phase 3 clinical trial in Europe and continued enrollment of patients in

a U.S. Phase 3 clinical trial;

* Intercept Plasma System: Continued enrollment of patients in a U.S.

Phase 3 clinical trial;

* Intercept Red Blood Cell System: Continued development of protocol in

preparation for a planned U.S. Phase 1c clinical trial;

* Allogeneic Cellular Immune Therapy (ACIT): Continued enrollment of

patients in a U.S. Phase 1 clinical trial of patients receiving

Helinx(TM) T-cells to improve the outcome of bone marrow transplantation

procedures.

"We are pleased to report that throughout the first quarter, Cerus continued to make great strides in the successful execution of our business plan," said Stephen Isaacs, Cerus president and chief executive officer. "Our company is in the unique position of having four product candidates currently in clinical trials-with very large untapped potential markets. We look forward to making steady progress in our core programs, as well as continuing to expand our research into additional new and promising areas such as cancer and hematologic disorders."

ABOUT CERUS

Cerus Corporation is developing pioneering technologies to improve the safety of the world's blood supply. These technologies are based on Cerus' Helinx technology which has the ability to prevent the replication of viruses, bacteria and other pathogens and to control cellular proliferation. The Concord, Calif.-based biopharmaceutical company is currently conducting the first human clinical trials of pathogen inactivated platelets, as well as clinical trials of fresh frozen plasma (FFP) and red blood cells, in collaboration with Baxter Healthcare Corporation. Cerus continues to build upon the achievements of its founders and scientists and is exploring new applications for the company's proprietary technologies in its effort to address a number of worldwide health concerns including blood safety, cancer and hematologic disorders. For more information about Cerus, visit http://www.cerus.com or call 925-603-9071.

Helinx is a trademark of Cerus Corporation

Intercept is a trademark of Baxter International, Inc.

Statements in this news release regarding product development, clinical development and potential therapeutic application of our product candidates are forward-looking statements that involve risk and uncertainties. Actual results could differ materially from the above forward-looking statements as a result of certain factors, including the uncertainty of timing and results of any clinical trials, regulation by the FDA, the uncertainty of replication of animal data in humans, the uncertainty of market acceptance of any products, competitive conditions, the uncertainty of future financing and other factors discussed in the company's 1999 Annual Report on Form 10-K.

    Global Headquarters

  • 1220 Concord Avenue
  • Concord, CA US 94520
  • +1 925.288.6000

    European Headquarters

  • Stationsstraat 79-D
  • 3811 MH Amersfoort, Netherlands
  • +31 (0) 33 49 60 600