Cerus Corporation (CERS) saw its loss narrow to $14.38 million, or $0.14 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $15.68 million, or $0.17 a share.
Revenue during the quarter grew 29.72 percent to $10.44 million from $8.04 million in the previous year period. Gross margin for the quarter expanded 1438 basis points over the previous year period to 45.27 percent.
Operating loss for the quarter was $14.26 million, compared with an operating loss of $16.19 million in the previous year period.
"U.S. momentum continues to build, with the number of customers initiating INTERCEPT production accelerating from just three at the beginning of the year to 17 customers to date. With another 22 contracted customers slated to begin production, we are in a healthy position for growth," said William ‘Obi’ Greenman, Cerus’ president and chief executive officer. "Beyond platelets and plasma, we are also moving forward with activities related to our red cell program, with plans to submit for European CE Mark approval and to initiate a U.S. Phase III trial."
Debt comes down marginally
Cerus Corporation has recorded a decline in total debt over the last one year. It stood at $19.35 million as on Sep. 30, 2016, down 2.54 percent or $0.51 million from $19.86 million on Sep. 30, 2015. Total debt was 16.66 percent of total assets as on Sep. 30, 2016, compared with 14.69 percent on Sep. 30, 2015. Debt to equity ratio was at 0.27 as on Sep. 30, 2016, up from 0.20 as on Sep. 30, 2015.
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