CONCORD, Calif.--(BUSINESS WIRE)--Cerus Corporation (NASDAQ: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 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 of $9.5 million, reflecting a write-down of the carrying value 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.
