Shares in biomedical products company Cerus Corporation (NASDAQ:CERS) have been falling for the past three sessions for no apparent reason, closing yesterday at $5.18, down 6.16%.
Technically, the stock has broken through its 200-day moving average on rising volume, and the last three sessions have taken the form of a highly bearish, three-black-crow candlestick pattern. On the weekly chart, the stock has also violated the rising trend line that has been in place since April 2015.
The stock is trading very near to a support zone in the band from $4.80 – $5.00, and if that support does not hold, there could be further downside.
Investors are selling out despite positive news put out by the company.
Cerus Corporation (NASDAQ:CERS) announces first customer BLA to FDA re. INTERCEPT
Cerus Corporation is a biomedical products company focused in the field of blood transfusion safety.
Its INTERCEPT Blood System is a pathogen reduction technology designed to reduce the risk of transfusion-transmitted infections by inactivating a broad range of pathogens such as viruses, bacteria, parasites, and leukocytes that may be present in donated blood.
Yesterday the company announced that The Community Blood Center (CBC) of Appleton, Wisconsin has submitted the first Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) requesting allowance for interstate distribution of platelets that have been pathogen-reduced via Cerus’ INTERCEPT Blood System.
Blood centers are not permitted to distribute INTERCEPT-treated products to hospitals within the state in which they are produced unless they are permitted by the FDA following the submission of a BLA.
“This first BLA submission is an important milestone for Cerus and for CBC as it improves patient access to INTERCEPT components,” said William “Obi” Greenman, Cerus’ president and chief executive officer. “A number of our other customers are also nearing their BLA submissions, moving us one step closer to supplying pathogen-reduced platelets to hospitals in any state in the U.S.”
Cerus Corporation (NASDAQ:CERS) announces INTERCEPT breakthrough in Colombia
Earlier this week Cerus announced that Hemolife Fundación Banco Nacional de Sangre (Hemolife), a blood center in Colombia, had become the first blood center to put INTERCEPT into routine use, and was offering INTERCEPT-treated pathogen reduced platelet units to its hospitals.
Greenman said INTERCEPT allowed Hemolife to offer blood that had been protected from pathogens given the outbreak of viruses such as Zika, dengue, and chikungunya in Latin America.