Cerus to sell up to $20 million of stock in at-the-money offerings

Proceeds will be used for research and development, other expenses

By Angela McDaniels

Tacoma, Wash., Jan. 11 - Cerus Corp. plans to sell up to $20 million of common stock from time to time in at-the-money equity offerings. MLV & Co. LLC will act as underwriter, according to a 424B5 filing with the Securities and Exchange Commission.

Each time the company wishes to sell common stock under the sales agreement, it will notify MLV of the number of shares to be issued and any minimum price below which sales may not be made.

Proceeds will be used for working capital and general corporate purposes, including research and development expenses, selling, general and administrative expenses and manufacturing expenses.

The company's stock closed at $3.09 (Nasdaq: CERS) on Wednesday. Its market capitalization is $148.63 million.

Cerus is a Concord, Calif.-based biomedical products company focused on commercializing the Intercept Blood System, which is designed to inactivate blood-borne pathogens in donated blood components intended for transfusion.

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