Cerus Rises After Red Cross Deal For Virus Inactivation System

Cerus Corp. rose the most in more than three months after announcing a multiple-year deal to provide the American Red Cross with systems that inactivate viruses in the blood supply. The agreement, coming amid the Zika virus outbreak, could be worth more than $65 million annually if the American Red Cross began treating all the blood it collects with the Concord company’s Intercept system, according to Karen Koski, an analyst at BTIG. The Intercept blood system, which inactivates viruses in blood that could otherwise enter the supply without proper testing, was approved by the Food and Drug Administration for platelets and plasma, Cerus said in December. The Zika virus, linked to a birth defect known as microcephaly, was declared a global public-health emergency this month.