Cerus Corporation (NASDAQ:CERS) Q1 2023 Earnings Conference Call May 4, 2023 4:30 PM ET

Company Participants

Jessica Hanover – Vice President-Corporate Affairs

Obi Greenman – President and Chief Executive Officer

Vivek Jayaraman – Chief Operating Officer

Kevin Green – Chief Financial Officer

Conference Call Participants

Brandon Folkes – Cantor Fitzgerald

Matt Blackman – Stifel

Operator

Good day, and welcome to the Cerus Corporation’s First Quarter 2023 Earnings Conference Call. At this time all participants are in a listen-only mode. [Operator Instructions]. As a reminder today’s conference is being recorded.

I would now like to turn the conference over to your host Jessica Hanover, Vice President of Corporate Affairs. Jessica, Please go ahead.

Jessica Hanover

Thank you, and good afternoon. I’d like to thank everyone for joining us today. As part of today’s webcast, we are simultaneously displaying slides that you can follow. You can access the slides from the Investor Relations website at ir.cerus.com.

With me on the call are Obi Greenman, Cerus’ President and Chief Executive Officer; Kevin Green, Cerus’ Chief Financial Officer; Dr. Laurence Corash, Cerus’ Chief Scientific Officer; Vivek Jayaraman, Cerus’ Chief Operating Officer; and Carol Moore, Cerus’ Senior Vice President of Regulatory Affairs and Quality.

Cerus issued a press release today announcing our financial results for the first quarter ended March 31, 2023 and describing the company’s recent business highlights. You can access a copy of this announcement on the company’s website at www.cerus.com.

I’d like to remind you that some of the statements we will make on this call related to future events and performance rather than historical facts and are forward-looking statements. Examples of forward-looking statements include those related to our future financial and operating results, including our 2023 product revenue guidance and goals, operating expenses, anticipated cash used from operations, gross profit and gross margins as well as commercial development efforts, future growth and growth strategy, future product sales, product launches, ongoing and future clinical trials, ongoing and future product development and our regulatory initiatives, including the timing of these events and activities. These forward-looking statements involve risks and uncertainties that could cause actual events, performance and results to differ materially. They are identified and described in today’s press release and under Risk Factors in our Form 10-Q for the year ended March 31, 2023, which we will file shortly. We undertake no duty or obligation to update our forward-looking statements.

On today’s call, we will also be discussing non-GAAP financial measures, including non-GAAP adjusted EBITDA. These non-GAAP measures should be considered a supplement to, and not a replacement for, measures presented in accordance with GAAP. For a reconciliation of non-GAAP financial measures to comparable GAAP financial measures, please refer to today’s press release.