Eric Bjerkholt, a director at Cerus Corp (NASDAQ:CERS), a biotech company with a market capitalization of $333 million and a GOOD financial health rating according to InvestingPro, has sold 20,000 shares of the company's common stock, according to a recent SEC filing. The shares were sold on December 12 at a weighted average price of $1.785 per share, totaling approximately $35,700. Following this transaction, Bjerkholt holds 162,133 shares directly. The shares were sold in multiple transactions at prices ranging from $1.78 to $1.79 per share. While the company maintains strong liquidity with a current ratio of 2.59, analysts see significant upside potential with price targets ranging from $2.50 to $5.00. Get the complete financial picture and access detailed Pro Research Reports for CERS and 1,400+ other stocks with InvestingPro.
In other recent news, Cerus Corporation reported a significant Q3 revenue growth of 16%, amounting to $46 million, primarily driven by its North American platelet business. The company also increased its full-year product revenue guidance, bolstered by positive trends in its INTERCEPT Fibrinogen Complex business and increased production capacity. Cerus highlighted a $248 million contract with BARDA to advance the INTERCEPT Red Blood Cell program, addressing public health concerns related to blood supply safety. Gross profit for Q3 reached $26.2 million, with margins improving to 56.9%, and operating expenses decreased by 8% to $31.8 million.
In addition to these financial developments, Cerus secured an extended supply and manufacturing agreement with Porex Corporation, ensuring the continued supply of key components for its products. The extension, termed the "2025 Agreement," will commence on January 1, 2025, and extend the partnership until December 31, 2027. Cerus plans to launch an LED illuminator in Europe in 2025 and in the U.S. in 2026, anticipating growth from new customer acquisitions and increased usage among existing clients. Despite the positive outlook, the company remains conservative with its full-year guidance due to operational uncertainties. These are among the recent developments for Cerus Corporation.
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