Cerus Corporation (NASDAQ:CERS)
Cerus Corporation (NASDAQ:CERS) stock price gained over 7.6% after the company announced that it had entered into a $40 million amended growth capital credit facility. The credit facility is being provided by Oxford Finance LLC, a specialty finance firm that provides senior debt to life sciences and healthcare companies worldwide. The announcement of a new credit facility comes one day after Cerus announced the signing of two, new, expanded contracts with Établissement Français du Sang (EFS), the French National Blood Service, for the INTERCEPT Blood System. CERS stock ended the day at $2.39. CERS stock price chart:
Cerus Corporation (NASDAQ:CERS) is a biomedical products company focused in the field of blood transfusion safety. The INTERCEPT Blood System is designed to reduce the risk of transfusion-transmitted infections by inactivating a broad range of pathogens that may be present in donated blood. The nucleic acid targeting mechanism of action of the INTERCEPT treatment is designed to inactivate established transfusion threats, such as Hepatitis B and C, HIV, West Nile Virus and bacteria, as well as emerging pathogens such as chikungunya, malaria and dengue. Cerus currently markets and sells the INTERCEPT Blood System for both platelets and globally.
Kevin D. Green, vice president, finance and chief financial officer of Cerus Corporation (NASDAQ:CERS) “Oxford continues to be an invaluable partner. Their appreciation of our business opportunity and shared belief in our mission to establish INTERCEPT as the standard of care for transfused blood components globally strengthens our relationship. The non-dilutive capital and potential access to additional proceeds provide us with financial flexibility to help us execute on our commercial growth strategy, as well as to support key clinical programs.”
Cerus Corporation (NASDAQ:CERS) stock is down over 45% YTD, and is down over 66% for the year. Three investment firms follow Cerus. All three rte CERS stock as a “Strong Buy”.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.