Why Cerus Corporation Stock Marched Higher Today

Shares of the biomedical company Cerus Corporation (NASDAQ: CERS) rose by as much as 14.5% today on more than triple the average volume. The company's shares took flight on the news that the U.S. Food and Drug Administration (FDA) approved the Rhode Island Blood Center's Biologics License Application (BLA) for the interstate distribution of platelets that have been pathogen-reduced with the Intercept Blood System. Cerus' Intercept Blood System reduces the risk of transfusion-transmitted infections by inactivating a range of pathogens, including viruses, bacteria and some parasites, which may be present in donated blood.

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This FDA approval removes a federal restriction barring biologic products from being shipped out of state. This allows the Rhode Island Blood Center to expand its distribution of Intercept-treated blood products to the whole of Southern New England.

Source: Fool.com