Cerus plans follow-on offering of 4.5 million shares via Baird, JMP

By Ronda Fears

Memphis, Feb. 27 - Cerus Corp. announced plans for a follow-on offering of 4.5 million shares of common stock off the shelf via bookrunner Robert W. Baird & Co. Inc. and joint lead manager JMP Securities LLC.

There is a greenshoe of 675,000 shares available.

Concord, Calif.-based Cerus estimated net proceeds of $55.9 million including the greenshoe, assuming a price of $11.56 per share.

Proceeds, the company said, would be used to fund research, development and commercialization activities and continuing clinical trials, general administrative support, capital expenditures and working capital; and other general corporate purposes, including possible acquisitions.

Cerus' most advanced programs are focused on systems to enhance the safety of the world's blood supply. The Intercept Blood Systems, based on its proprietary Helinx technology, are designed to inactivate viruses, bacteria, other such pathogens and harmful white blood cells. Cerus also is pursuing therapeutic applications of the Helinx technology to treat and prevent serious diseases.

Cerus shares (Nasdaq: CERS) closed Monday up 6 cents, or 0.52%, at $11.62.

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