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CERS · NASDAQ · Medical - Devices

Cerus

Supplies illuminators and disposable kits that inactivate pathogens in donated platelets, plasma and fibrinogen concentrate.

$2.65

After-hours close−0.00 (−0.19%)

At close$2.66(−2.39%)

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Profile

Cerus CorporationCERSHealth Care

Sells illuminator devices and single-use kits that treat donated platelets and plasma with a light-activated compound to inactivate pathogens before transfusion, plus a fibrinogen concentrate made from the same plasma system. Revenue is recurring kit sales at blood centers running the equipment, supplemented by government funding for red-blood-cell and whole-blood treatments in development.

Built around a single chemistry — a light-activated compound that binds pathogen DNA and RNA to block replication — the INTERCEPT Blood System treats donated platelets and plasma for use in transfusions. The chemistry traces to 1980s research responding to HIV-contaminated blood supplies.

Illuminator devices sold to blood centers pair with single-use disposable kits, a recurring-revenue model built on equipment already installed. Plasma treated through the system is also processed into a fibrinogen concentrate for bleeding control, currently the fastest-growing product line.

European blood centers adopted the platelets and plasma systems years before United States regulatory clearance arrived; both regions now use them. Red-blood-cell and whole-blood versions are in later-stage development, work substantially funded through government contracts.

Company facts

CEOVivek Jayaraman

ListedJan 31, 1997

ExchangeNASDAQ

HeadquartersConcord, CA

CountryUnited States

Employees281

CIK0001020214

ISINUS1570851014

Key statistics

Market cap$534.0M

EPS (ttm)−$0.0362

P/E (ttm)−73.20

ROE-10.3%

P/B7.59

P/S2.41

Dividend yield—

Beta1.51vs XLV 0.88

Year to date +34.8% · Average volume (30d) 2.7M

Analysts

Price target, next 12 months$4.00+50.9%Median of 10 analysts · vs the Aug 28 close

ConsensusBuy8 of 10 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $2.65

High$4.00+50.9%

Median$4.00+50.9%

Low$4.00+50.9%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Target
May 1, 2026	BTIG	Upgrade	Neutral	Buy	$4

Earnings

EPS

Estimate−$0.01

ReportedDue Nov 5, 2026

Revenue

Estimate$63.3M

ReportedDue Nov 5, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Jul 30, 2026Q2 FY26	−$0.01	−$0.01	+25.0%	$62.9M	$63.3M	+0.6%	−25.61%
Apr 30, 2026Q1 FY26	−$0.03	−$0.01	+66.7%	$55.7M	$59.9M	+7.6%	+33.99%
Mar 2, 2026Q4 FY25	−$0.01	−$0.01	0.0%	$61.8M	$64.6M	+4.5%	−15.81%
Nov 6, 2025Q3 FY25	−$0.02	$0.00	+99.5%	$59.3M	$52.7M	−11.1%	+21.28%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$43.2M	$52.4M	$52.7M	$57.8M	$53.7M	$57.4M
Gross profit	$25.4M	$29.0M	$28.1M	$29.7M	$27.9M	$29.5M
Operating income	−$5.9M	−$3.4M	$1.2M	−$641.0K	−$354.0K	−$1.9M
Net income	−$7.7M	−$5.7M	−$19.0K	−$2.2M	−$1.6M	−$2.9M
Diluted EPS	−$0.04	−$0.03	−$0.00	−$0.01	−$0.01	−$0.01
Gross margin	58.8%	55.2%	53.4%	51.5%	52.0%	51.4%
Operating margin	-13.5%	-6.5%	2.3%	-1.1%	-0.7%	-3.2%

Fiscal years (4-quarter sums)FY21 $130.9M · FY22 $162.0M · FY23 $156.4M · FY24 $180.3M · FY25 $206.1M

Revenue by product · Q2 FY26

Product$57.4M · 100%

Revenue by geography · Q2 FY26

North America$38.4M · 67%

Europe Middle East And Africa$18.3M · 32%

Other$749.0K · 1%

Balance sheet, Jun 30, 2026Cash & short-term investments $56.3M · Total debt $76.8M · Total assets $205.2M · Shareholders' equity $70.0M

Dividends

No dividends on record.

Ownership

Institutions 75.49%152.12M sharesInsiders 5.91%11.92M sharesOther 18.60%37.49M shares

Shares outstanding 201.52M · Float 190.58M · 94.6% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
BlackRock, Inc.	22.22M	11.02%	13F	Aug 7, 2026
Ark Investment Management LLC	17.93M	8.90%	13F	Aug 14, 2026
Vanguard Capital Management LLC	8.56M	4.25%	13F	Aug 13, 2026
Baker Bros. Advisors LP	6.40M	3.17%	13F	Aug 14, 2026
D. E. Shaw & Co., Inc.	5.49M	2.72%	13F	Aug 14, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Aug 17, 2026	Chrystal Jensen	officer: Chief Legal Officer	−30,000	$2.98
Jul 16, 2026	Vivek K. Jayaraman	officer: Chief Executive Officer	−16,666	$3.16
Jun 30, 2026	William Mariner Greenman	director, officer: President and CEO	−101,919	$2.94
Jun 30, 2026	Chrystal Jensen	officer: Chief Legal Officer	−24,329	$2.94
Jun 30, 2026	Vivek K. Jayaraman	officer: Chief Operating Officer	−42,359	$2.94