secwatch.observer — SEC 8-K summary
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Issuer:     CERUS CORP (CERS)
CIK:        0001020214
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0000950170-23-017869
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cerus Q1 revenue down 11% to $38.5M; net loss widens to $15.6M; reiterates FY guidance
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- Product revenue $31.0M (-17% YoY) on US inventory drawdown; govt contract revenue $7.5M (+35%).
- Net loss $15.6M ($0.09/shr) vs $12.3M ($0.07); adjusted EBITDA -$9.8M vs -$3.7M.
- Product gross margin improved to 55.8% (51.7% YoY), fifth consecutive quarter of expansion.
- Reiterated FY2023 product revenue guidance $165-170M; expects return to growth as drawdown ends.
- Completed debt refinancing; ended Q1 with $94.7M cash, $55M term loan, $18M revolver drawn.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1020214/000095017023017869/0000950170-23-017869-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1020214/000095017023017869/cers-20230504.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-017869

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer