All in all, very pleased. Some takeaways:
1) See accelerated revenue growth driven by further adoption in countries they have approval in (eg Germany, France, Belgium) along with the addition of new approved countries such as Switzerland. New leadership in Japan has pathogen inactivation as one of its priorities and Bio-One is in discussions with them but no expectation was set on when we can expect a deal (hopefully the recent news on H1N1 in their blood supply will help accelerate this opportunity).
2) Have a plan to reach profitability at an annual revenue run rate of $40 million+. Didn't commit to it but Claus during the Q&A session but implied that the company could be in the green in FY2010.
3) HOVEN study was not only questioned and discredited by Cerus but also by many experts who attended the AABB conference. Clearly a non-event now that the data has been released.
4) Red Blood Cell Phase 1 trial data will be released soon (sometime in the next 2 months).
5) They have agreed in principal with the FDA on the design for a Phase 3 trial for Intercept for platelets (roughly 1,000 participants) and are presenting it to the panel on 11/16 for approval. They stated that Cerus will not fund the trial but the money will come from another source so clearly they have a US Partner lined up which will be announced upon FDA approval of the Phase 3. Any guesses on who it is?

Based on today's call, I plan to continue to accumulate more stock in Cerus. The Management Team is very conservative on what they can say on the earnings call but if you read between the lines, they're very optimistic about the current growth and profitability potential of this company...assuming they're not acquired first. :)