Cerus Corporation (CERS) Stock

Cerus Corporation (CERS) is a Healthcare stock trading at $2.79 (as of 2026-08-20), with a market capitalization of $562.25M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Cerus Corporation operates as a biomedical products company. The company focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. Its INTERCEPT Blood System, a proprietary technology for controlling biological replication that is designed to reduce blood-borne pathogens in donated blood components intended for transfusion. The company offers INTERCEPT Blood Systems for platelets and plasma, which is designed to inactivate blood-borne pathogens in platelets and plasma donated for transfusion; INTERCEPT Blood System for red blood cells to inactivate blood-borne pathogens in red blood cells donated for transfusion; and INTERCEPT Blood System for Cryoprecipitation that uses its plasma system to produce pathogen reduced cryoprecipitated fibrinogen complex for the treatment and control of bleeding, including massive hemorrhage associated with fibrinogen deficiency, as well as pathogen reduced plasma, cryoprecipitate reduced. It sells platelet and plasma systems through its direct sales force and distributors in the United States, Europe, the Commonwealth of Independent States, the Middle East, Latin America, and internationally. The company was incorporated in 1991 and is headquartered in Concord, California.

Understand Cerus Corporation: how it makes money

Cerus develops and commercializes the INTERCEPT Blood System to help reduce blood-borne pathogens in donated blood components, generating revenue from selling INTERCEPT products for platelets and plasma and from related government contract revenue.

Cerus is structurally a consumables-driven model, because INTERCEPT requires kits to treat donated platelets and plasma on an ongoing basis, so product mix tied to kits and cumulative kits sold are key drivers of revenue.

Revenue by segment (latest quarter)
Plasma$0.1B
Product$0.1B

Business quality (Weak): Revenue is modest and the latest period shows negative operating margin, but the product engine appears tied to repeatable INTERCEPT treatment (kit usage), which can support ongoing demand if coverage and utilization hold up.

Bull case

  • Consumable, repeat-use treatment pattern: INTERCEPT is designed to inactivate blood-borne pathogens in platelets and plasma intended for transfusion, which implies ongoing kit usage tied to treatment volumes.
  • Coverage and treatment metrics exist: The company tracks coverage and treated units in specific settings, including Canada Platelet Pathogen Inactivation Coverage and Intercept-Treated Canadian Platelet Units.

Bear case

  • Profitability pressure: For the latest period (2026-03-31), operating margin is negative at -0.7, indicating operating losses.
  • Demand sensitivity to adoption and utilization: Because the model depends on kit-driven treatment of donated blood components, lower-than-expected utilization or shifts in sales mix away from kit-tied doses could pressure results.
  • Government contract contribution may be variable: Government Contract Revenue is a defined revenue component (0.01), so changes in contract activity could affect overall revenue.
Valuation — source: SEC EDGAR (first-party)
Price$2.79
Market Cap$562.25M
EV / EBITDA361.2
Price / Book7.95
Price / Sales2.59
FCF Yield-3.1%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$233.80M
Net Margin-6.7%
Revenue Growth (YoY)16.1%
EPS Growth (YoY)-27.3%
FCF Growth (YoY)-87.0%
Financial Health — source: SEC EDGAR
Altman Z-Score-3.45 (distress)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.6
Industry P/E (Medical Equipment)32.9
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($39.27M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryMedical Equipment
CEOWilliam Greenman
Employees614
CountryUS
IPO Date1997-01-31

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CERS earnings history · CERS institutional & insider holders · CERS KPIs & operating metrics · CERS financials · CERS investor presentations & press releases · CERS SEC filings · CERS peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.