Press Release Details

Cerus Corporation Announces Second Quarter Results

July, 25 2000
Cerus Corporation (Nasdaq: CERS), a pioneer in systems to improve blood safety, today announced results for the second quarter ended June 30, 2000.

Revenue from development agreements and government grants for the quarter was $0.5 million, compared to $0.4 million for the second quarter of 1999. The net loss for the second quarter was $8.5 million, or $0.66 per share, compared to a net loss of $5.5 million, or $0.48 per share, for the second quarter of 1999. At June 30, 2000, the company had cash, cash equivalents and short-term investments totaling $50.3 million.

Cerus Corporation is developing Intercept™ Blood Systems to prevent the transmission of infectious diseases, such as HIV and hepatitis B and C, through blood transfusions. The biopharmaceutical company, in collaboration with Baxter Healthcare Corporation (NYSE: BAX), is designing the Intercept Blood Systems to target and inactivate viruses, bacteria and other pathogens, 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. The Intercept Blood Systems are the first application of Cerus' proprietary Helinx™ technology.

Cerus is currently conducting a Phase 3 clinical trial of the Intercept Platelet System in the U.S. and has completed enrollment in a 100 patient Phase 3 clinical trial in Europe. The Intercept Plasma System is in Phase 3 clinical trials, and the Intercept Red Blood Cell System is in Phase 1 clinical trials. Cerus is also conducting a Phase 1 clinical trial of its allogeneic cellular immunotherapy (ACIT) program, designed to improve the outcome of bone marrow transplantation procedures using T-cells treated with the Helinx technology.

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 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 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