Cerus Corporation Announces Second Quarter Financial Results.CONCORD, Calif. -- Cerus Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CERS) today announced financial results for the second quarter ended June 30, 2007. Revenues for the second quarter of 2007 were $4.5 million, down from $6.5 million for the second quarter of 2006. Product revenues for the INTERCEPT Blood System increased to $1.7 million during the current quarter, up from $0.8 million during the second quarter of 2006. In contrast to the second quarter of 2006, when $4.2 million of revenue was recognized from milestone payments received from BioOne and development funding from agreements with Baxter and MedImmune, in the second quarter of 2007 no such revenue was recognized. Total operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. for the second quarter of 2007 were $23.4 million, up from $12.4 million for the same period in 2006. This increase was primarily due to a non-cash charge Non-Cash Charge A charge off, made by a company against earnings, that does not require an initial outlay of cash. Notes: Non-cash charges are typically against the depreciation, amortization, and depletion accounts on a company's balance sheet. of $9.5 million, reflecting a write-down of the carrying value Carrying Value Also know as "book value," it is a company's total assets minus intangible assets and liabilities, such as debt. Notes: This is different than market value, as it can be higher or lower depending on the circumstances. of the Company's equity interest in BioOne, which licensed commercialization rights for the INTERCEPT platelet and plasma systems in Asia, and costs associated with commercialization efforts in Europe. Net loss for the second quarter of 2007 was $17.9 million, or $0.56 per share, compared to net loss of $5.1 million, or $0.18 per share, for the second quarter of 2006. The total operating expenses and loss during the quarter included the non-cash charge of $9.5 million, or $0.30 per share, associated with the write-down of the Company's equity interest in BioOne. At June 30, 2007, the Company had cash, cash equivalents and short-term investments of $74.4 million. "I am pleased with the solid commercial progress of the INTERCEPT Blood System," said Claes Glassell, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Cerus Corporation. "We continue to increase sales and customers quarter by quarter and have signed several distribution agreements to help accelerate our rollout plan for the INTERCEPT Blood System." RECENT HIGHLIGHTS * Grifols S.A. and Cerus agreed to commercialize the INTERCEPT Blood System in Spain and Portugal; * Cerus signed additional distribution agreements in Greece and Turkey and has an existing distribution agreement in Kuwait; * Cerus signed an initial contract to supply national blood centers in France with its platelet system; * INTERCEPT plasma gained registration in French official journal; * The largest blood center in Germany has filed for its marketing authorization with the Paul Ehrlich Institute; and * Cerus had a successful presence at the International Society for Blood Transfusion blood transfusion, transfer of blood from one person to another, or from one animal to another of the same species. Transfusions are performed to replace a substantial loss of blood and as supportive treatment in certain diseases and blood disorders. congress in Madrid, Spain. QUARTERLY CONFERENCE CALL The company has scheduled its quarterly conference call for 4:30 p.m. Eastern time today. Interested parties can access a live Internet broadcast at www.cerus.com. For those unable to listen to the live broadcast, the call will be temporarily archived. ABOUT CERUS Cerus Corporation is a biopharmaceutical company that develops and commercializes novel, proprietary products in the fields of blood safety and immunotherapy designed to provide safer, more effective medical options to patients in areas of substantial unmet medical needs. In the field of blood safety, the company is developing and commercializing the INTERCEPT Blood System, which is based on the company's proprietary Helinx technology. The system is designed to enhance the safety of donated blood components by inactivating viruses, bacteria, parasites and other pathogens, as well as potentially harmful white blood cells White blood cells A group of several cell types that occur in the bloodstream and are essential for a properly functioning immune system. Mentioned in: Abscess Incision & Drainage, Bone Marrow Transplantation, Complement Deficiencies . In the field of immunotherapy, the company is employing its proprietary attenuated Attenuated Alive but weakened; an attenuated microorganism can no longer produce disease. Mentioned in: Tuberculin Skin Test attenuated having undergone a process of attenuation. Listeria Listeria /Lis·te·ria/ (lis-ter´e-ah) a genus of gram-negative bacteria (family Corynebacterium); L. monocyto´genes causes listeriosis. Lis·te·ri·a n. vaccine platform to develop a series of novel therapies to treat cancer, and it is applying its proprietary Killed But Metabolically Active technology platform in the research and development of prophylactic prophylactic /pro·phy·lac·tic/ (pro?-fi-lak´tik) 1. tending to ward off disease; pertaining to prophylaxis. 2. an agent that tends to ward off disease. pro·phy·lac·tic n. and therapeutic vaccines therapeutic vaccine Immunology A vaccine–eg, Salk's Remune™ intended to treat a viral infection by stimulating the immune system. See Vaccine therapy. for infectious diseases infectious diseases: see communicable diseases. . INTERCEPT, INTERCEPT Blood System and Helinx are trademarks of Cerus Corporation. This press release contains forward-looking statements, including statements related to the potential efficacy the Company's products and technologies and the commercial progress of such products. For this purpose, any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "intends," "believes," "estimates," "expects," "plans" and similar words or expressions or the negative of these words or expressions are intended to identify forward-looking statements. Actual results could differ materially from these forward-looking statements as a result of certain factors, including, without limitation, the risks identified in the company's filings with the Securities and Exchange Commission, including the company's Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 2007. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company does not undertake any obligation to update any forward-looking statements as a result of new information, future events, changed assumptions or otherwise. 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