Intrinsic value of Cerus - CERS

Previous Close

$5.30

  Intrinsic Value

$2.35

stock screener

  Rating & Target

str. sell

-56%

Previous close

$5.30

 
Intrinsic value

$2.35

 
Up/down potential

-56%

 
Rating

str. sell

We calculate the intrinsic value of CERS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  82
  127
  190
  275
  388
  534
  717
  941
  1,211
  1,530
  1,900
  2,322
  2,799
  3,330
  3,916
  4,555
  5,247
  5,991
  6,785
  7,628
  8,520
  9,459
  10,444
  11,475
  12,552
  13,676
  14,846
  16,063
  17,328
  18,643
Variable operating expenses, $m
  56
  87
  130
  188
  265
  365
  489
  642
  827
  1,044
  1,296
  1,585
  1,910
  2,273
  2,672
  3,108
  3,581
  4,088
  4,630
  5,206
  5,814
  6,455
  7,127
  7,831
  8,566
  9,332
  10,130
  10,961
  11,825
  12,722
Fixed operating expenses, $m
  78
  79
  81
  83
  85
  87
  89
  90
  92
  94
  97
  99
  101
  103
  105
  108
  110
  112
  115
  117
  120
  123
  125
  128
  131
  134
  137
  140
  143
  146
Total operating expenses, $m
  134
  166
  211
  271
  350
  452
  578
  732
  919
  1,138
  1,393
  1,684
  2,011
  2,376
  2,777
  3,216
  3,691
  4,200
  4,745
  5,323
  5,934
  6,578
  7,252
  7,959
  8,697
  9,466
  10,267
  11,101
  11,968
  12,868
Operating income, $m
  -52
  -39
  -21
  4
  38
  83
  139
  208
  292
  391
  507
  639
  788
  955
  1,138
  1,339
  1,557
  1,790
  2,040
  2,305
  2,586
  2,882
  3,192
  3,517
  3,856
  4,210
  4,578
  4,962
  5,361
  5,775
EBITDA, $m
  -50
  -37
  -18
  8
  44
  90
  149
  221
  309
  412
  533
  671
  827
  1,001
  1,192
  1,402
  1,629
  1,873
  2,134
  2,411
  2,704
  3,012
  3,336
  3,675
  4,029
  4,398
  4,783
  5,183
  5,600
  6,033
Interest expense (income), $m
  1
  4
  7
  13
  21
  32
  47
  66
  90
  120
  155
  197
  246
  301
  364
  433
  510
  594
  685
  782
  886
  997
  1,114
  1,237
  1,366
  1,501
  1,643
  1,790
  1,944
  2,103
  2,269
Earnings before tax, $m
  -55
  -46
  -34
  -17
  6
  35
  73
  118
  172
  236
  310
  393
  487
  591
  705
  829
  963
  1,106
  1,258
  1,419
  1,589
  1,768
  1,955
  2,150
  2,354
  2,567
  2,788
  3,018
  3,258
  3,506
Tax expense, $m
  0
  0
  0
  0
  2
  10
  20
  32
  46
  64
  84
  106
  132
  160
  190
  224
  260
  299
  340
  383
  429
  477
  528
  581
  636
  693
  753
  815
  880
  947
Net income, $m
  -55
  -46
  -34
  -17
  4
  26
  53
  86
  126
  172
  226
  287
  356
  432
  515
  605
  703
  807
  918
  1,036
  1,160
  1,290
  1,427
  1,570
  1,719
  1,874
  2,035
  2,203
  2,378
  2,559

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  97
  150
  225
  326
  460
  633
  849
  1,115
  1,435
  1,812
  2,251
  2,752
  3,317
  3,946
  4,640
  5,397
  6,217
  7,098
  8,039
  9,038
  10,095
  11,207
  12,374
  13,596
  14,873
  16,203
  17,589
  19,032
  20,531
  22,089
Adjusted assets (=assets-cash), $m
  97
  150
  225
  326
  460
  633
  849
  1,115
  1,435
  1,812
  2,251
  2,752
  3,317
  3,946
  4,640
  5,397
  6,217
  7,098
  8,039
  9,038
  10,095
  11,207
  12,374
  13,596
  14,873
  16,203
  17,589
  19,032
  20,531
  22,089
Revenue / Adjusted assets
  0.845
  0.847
  0.844
  0.844
  0.843
  0.844
  0.845
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
  0.844
Average production assets, $m
  6
  9
  13
  19
  27
  37
  49
  65
  84
  106
  131
  160
  193
  230
  270
  314
  362
  413
  468
  526
  588
  653
  721
  792
  866
  944
  1,024
  1,108
  1,196
  1,286
Working capital, $m
  9
  14
  22
  31
  44
  61
  82
  107
  138
  174
  217
  265
  319
  380
  446
  519
  598
  683
  774
  870
  971
  1,078
  1,191
  1,308
  1,431
  1,559
  1,692
  1,831
  1,975
  2,125
Total debt, $m
  58
  106
  173
  264
  385
  540
  735
  974
  1,262
  1,602
  1,996
  2,447
  2,955
  3,522
  4,146
  4,828
  5,566
  6,359
  7,206
  8,105
  9,056
  10,057
  11,107
  12,207
  13,356
  14,554
  15,801
  17,099
  18,448
  19,851
Total liabilities, $m
  88
  135
  202
  294
  414
  569
  764
  1,004
  1,291
  1,631
  2,026
  2,476
  2,985
  3,551
  4,176
  4,858
  5,595
  6,389
  7,235
  8,135
  9,085
  10,086
  11,137
  12,237
  13,385
  14,583
  15,831
  17,128
  18,478
  19,880
Total equity, $m
  10
  15
  22
  33
  46
  63
  85
  112
  143
  181
  225
  275
  332
  395
  464
  540
  622
  710
  804
  904
  1,009
  1,121
  1,237
  1,360
  1,487
  1,620
  1,759
  1,903
  2,053
  2,209
Total liabilities and equity, $m
  98
  150
  224
  327
  460
  632
  849
  1,116
  1,434
  1,812
  2,251
  2,751
  3,317
  3,946
  4,640
  5,398
  6,217
  7,099
  8,039
  9,039
  10,094
  11,207
  12,374
  13,597
  14,872
  16,203
  17,590
  19,031
  20,531
  22,089
Debt-to-equity ratio
  5.970
  7.040
  7.690
  8.100
  8.360
  8.530
  8.650
  8.740
  8.790
  8.840
  8.870
  8.890
  8.910
  8.930
  8.940
  8.950
  8.950
  8.960
  8.960
  8.970
  8.970
  8.970
  8.980
  8.980
  8.980
  8.980
  8.980
  8.980
  8.990
  8.990
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -55
  -46
  -34
  -17
  4
  26
  53
  86
  126
  172
  226
  287
  356
  432
  515
  605
  703
  807
  918
  1,036
  1,160
  1,290
  1,427
  1,570
  1,719
  1,874
  2,035
  2,203
  2,378
  2,559
Depreciation, amort., depletion, $m
  1
  2
  3
  4
  6
  8
  10
  13
  17
  21
  26
  32
  39
  46
  54
  63
  72
  83
  94
  105
  118
  131
  144
  158
  173
  189
  205
  222
  239
  257
Funds from operations, $m
  -54
  -44
  -31
  -13
  10
  33
  63
  99
  143
  194
  252
  319
  394
  478
  569
  668
  775
  890
  1,012
  1,141
  1,278
  1,421
  1,571
  1,728
  1,892
  2,063
  2,240
  2,425
  2,617
  2,817
Change in working capital, $m
  4
  5
  7
  10
  13
  17
  21
  26
  31
  36
  42
  48
  54
  61
  67
  73
  79
  85
  91
  96
  102
  107
  112
  118
  123
  128
  133
  139
  144
  150
Cash from operations, $m
  -58
  -50
  -38
  -23
  -3
  17
  42
  74
  112
  157
  210
  271
  340
  417
  502
  595
  696
  805
  921
  1,045
  1,176
  1,314
  1,459
  1,611
  1,769
  1,935
  2,107
  2,286
  2,473
  2,667
Maintenance CAPEX, $m
  -1
  -1
  -2
  -3
  -4
  -5
  -7
  -10
  -13
  -17
  -21
  -26
  -32
  -39
  -46
  -54
  -63
  -72
  -83
  -94
  -105
  -118
  -131
  -144
  -158
  -173
  -189
  -205
  -222
  -239
New CAPEX, $m
  -2
  -3
  -4
  -6
  -8
  -10
  -13
  -15
  -19
  -22
  -26
  -29
  -33
  -37
  -40
  -44
  -48
  -51
  -55
  -58
  -62
  -65
  -68
  -71
  -74
  -78
  -81
  -84
  -87
  -91
Cash from investing activities, $m
  -3
  -4
  -6
  -9
  -12
  -15
  -20
  -25
  -32
  -39
  -47
  -55
  -65
  -76
  -86
  -98
  -111
  -123
  -138
  -152
  -167
  -183
  -199
  -215
  -232
  -251
  -270
  -289
  -309
  -330
Free cash flow, $m
  -60
  -54
  -45
  -31
  -15
  1
  22
  48
  80
  119
  164
  216
  275
  342
  416
  497
  586
  681
  784
  893
  1,009
  1,132
  1,260
  1,395
  1,536
  1,684
  1,837
  1,997
  2,164
  2,337
Issuance/(repayment) of debt, $m
  28
  48
  67
  91
  121
  155
  195
  239
  288
  340
  394
  451
  508
  567
  624
  682
  738
  793
  847
  899
  951
  1,001
  1,051
  1,100
  1,149
  1,198
  1,247
  1,298
  1,349
  1,403
Issuance/(repurchase) of shares, $m
  64
  52
  42
  27
  9
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  92
  100
  109
  118
  130
  155
  195
  239
  288
  340
  394
  451
  508
  567
  624
  682
  738
  793
  847
  899
  951
  1,001
  1,051
  1,100
  1,149
  1,198
  1,247
  1,298
  1,349
  1,403
Total cash flow (excl. dividends), $m
  32
  46
  64
  87
  115
  157
  217
  288
  368
  458
  558
  667
  783
  908
  1,040
  1,179
  1,324
  1,474
  1,631
  1,793
  1,960
  2,133
  2,311
  2,495
  2,685
  2,882
  3,085
  3,295
  3,513
  3,740
Retained Cash Flow (-), $m
  -64
  -52
  -42
  -27
  -13
  -17
  -22
  -27
  -32
  -38
  -44
  -50
  -56
  -63
  -69
  -76
  -82
  -88
  -94
  -100
  -106
  -111
  -117
  -122
  -128
  -133
  -139
  -144
  -150
  -156
Prev. year cash balance distribution, $m
  38
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  6
  -6
  23
  60
  102
  139
  195
  261
  336
  421
  514
  616
  727
  845
  971
  1,103
  1,242
  1,386
  1,537
  1,693
  1,854
  2,021
  2,194
  2,373
  2,557
  2,749
  2,946
  3,151
  3,363
  3,584
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  5
  -6
  20
  49
  79
  101
  132
  163
  193
  220
  244
  263
  276
  284
  285
  280
  270
  255
  237
  215
  192
  168
  144
  121
  99
  80
  63
  49
  37
  27
Current shareholders' claim on cash, %
  15.0
  9.8
  7.7
  6.8
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7
  6.7

Cerus Corporation is a biomedical products company. The Company is engaged in developing and commercializing the INTERCEPT Blood System for blood safety. The Company operates through blood safety segment. The Company's INTERCEPT Blood System is based on its technology for controlling biological replication, and is designed to reduce blood-borne pathogens in donated blood components intended for transfusion. The Company's INTERCEPT Blood System is designed to target and inactivate blood-borne pathogens, such as viruses, including human immunodeficiency virus (HIV), West Nile, Severe acute respiratory syndrome (SARS), hepatitis B and C; bacteria and parasites, as well as harmful white blood cells, while preserving the therapeutic properties of platelet, plasma and red blood cell transfusion products. The Company's INTERCEPT Blood System is for use with blood components, including plasma, platelets, and red blood cells.

FINANCIAL RATIOS  of  Cerus (CERS)

Valuation Ratios
P/E Ratio -8.7
Price to Sales 14.1
Price to Book 9.5
Price to Tangible Book
Price to Cash Flow -10.2
Price to Free Cash Flow -10
Growth Rates
Sales Growth Rate 14.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 0%
Financial Strength
Quick Ratio 10
Current Ratio 0.1
LT Debt to Equity 20.7%
Total Debt to Equity 32.8%
Interest Coverage -62
Management Effectiveness
Return On Assets -51.2%
Ret/ On Assets - 3 Yr. Avg. -49%
Return On Total Capital -65.6%
Ret/ On T. Cap. - 3 Yr. Avg. -70.8%
Return On Equity -82.4%
Return On Equity - 3 Yr. Avg. -85.3%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 48.7%
Gross Margin - 3 Yr. Avg. 40.9%
EBITDA Margin -153.8%
EBITDA Margin - 3 Yr. Avg. -141.4%
Operating Margin -159%
Oper. Margin - 3 Yr. Avg. -154.5%
Pre-Tax Margin -161.5%
Pre-Tax Margin - 3 Yr. Avg. -148.8%
Net Profit Margin -161.5%
Net Profit Margin - 3 Yr. Avg. -144.9%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 2.2%
Payout Ratio 0%

CERS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CERS stock intrinsic value calculation we used $51.326 million for the last fiscal year's total revenue generated by Cerus. The default revenue input number comes from 0001 income statement of Cerus. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CERS stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for CERS is calculated based on our internal credit rating of Cerus, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Cerus.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CERS stock the variable cost ratio is equal to 68.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $76 million in the base year in the intrinsic value calculation for CERS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 12.3% for Cerus.

Corporate tax rate of 27% is the nominal tax rate for Cerus. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CERS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CERS are equal to 6.9%.

Life of production assets of 2.5 years is the average useful life of capital assets used in Cerus operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CERS is equal to 11.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $38.94 million for Cerus - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 130.544 million for Cerus is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Cerus at the current share price and the inputted number of shares is $0.7 billion.

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COMPANY NEWS

▶ Cerus: 3Q Earnings Snapshot   [Nov-01-18 05:25PM  Associated Press]
▶ Here's Why Cerus Corporation Stock Popped Today   [Oct-16-18 03:01PM  Motley Fool]
▶ Cerus Appoints Eric Bjerkholt to Board of Directors   [Oct-09-18 04:05PM  Business Wire]
▶ Cerus to Host Institutional Investor Meeting   [Oct-02-18 08:30AM  Business Wire]
▶ Cerus Appoints Timothy L. Moore to Board of Directors   [Sep-06-18 04:15PM  Business Wire]
▶ Cerus: 2Q Earnings Snapshot   [05:13PM  Associated Press]
▶ Cerus Corporation to Host Earnings Call   [02:15PM  ACCESSWIRE]
▶ 5 Breakout Stocks Offering Stellar Returns   [Jul-27-18 08:41AM  Zacks]
▶ Here's Why Cerus Corporation Stock Is Surging Today   [May-09-18 01:45PM  Motley Fool]
▶ Cerus: 1Q Earnings Snapshot   [May-08-18 05:25PM  Associated Press]
▶ Cerus to Release First Quarter 2018 Results on May 8, 2018   [Apr-25-18 08:30AM  Business Wire]
▶ Blood transfusion company inks deal for new East Bay headquarters   [Mar-28-18 03:39PM  American City Business Journals]
▶ Cerus reports 4Q loss   [Mar-08-18 04:37PM  Associated Press]
▶ Cerus Corporation to Host Earnings Call   [12:00PM  ACCESSWIRE]
▶ Cerus Announces Pricing of Public Offering of Common Stock   [Jan-31-18 09:00AM  Business Wire]
▶ Cerus Announces Public Offering of Common Stock   [Jan-30-18 04:13PM  Business Wire]
▶ Cerus, Pfizer Both Just Put Out Key Late Stage Data   [Jan-25-18 08:54AM  Market Exclusive]
▶ Should You Buy Cerus Corporation (NASDAQ:CERS) At $3.56?   [Jan-03-18 10:28AM  Simply Wall St.]
▶ ETFs with exposure to Cerus Corp. : December 27, 2017   [Dec-27-17 11:05AM  Capital Cube]
▶ 5 Breakout Stocks Offering Admirable Returns   [Nov-14-17 09:16AM  Zacks]
▶ Here's Why Cerus Corporation Rose as Much as 23.6% Today   [Nov-03-17 01:31PM  Motley Fool]
▶ Cerus reports 3Q loss   [Nov-02-17 05:19PM  Associated Press]
▶ Cerus to Present at Two Upcoming Conferences   [Oct-31-17 08:30AM  Business Wire]
▶ ETFs with exposure to Cerus Corp. : October 30, 2017   [Oct-30-17 11:34AM  Capital Cube]
▶ ETFs with exposure to Cerus Corp. : October 16, 2017   [Oct-16-17 09:49AM  Capital Cube]
▶ Why Cerus Corporation Stock Marched Higher Today   [Oct-05-17 06:09PM  Motley Fool]
▶ ETFs with exposure to Cerus Corp. : October 3, 2017   [Oct-03-17 11:02AM  Capital Cube]

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