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T2 Biosystems, Inc. - $TTOO STOCK NEWS

Welcome to our dedicated page for T2 Biosystems news (Ticker: $TTOO), a resource for investors and traders seeking the latest updates and insights on T2 Biosystems stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect T2 Biosystems's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of T2 Biosystems's position in the market.

Rhea-AI Summary

T2 Biosystems (NASDAQ:TTOO) announced on May 22, 2024, that it has regained compliance with Nasdaq's market value of listed securities (MVLS) requirement. The company initially received a delisting notice on November 22, 2023, for failing to maintain an MVLS of at least $35 million over 30 consecutive business days. Following an appeal, the Nasdaq Hearings Panel granted an exception through May 20, 2024. T2 Biosystems successfully met the requirement by maintaining the necessary MVLS for 10 consecutive trading days as of May 16, 2024, thus ensuring continued listing on Nasdaq's Capital Market.

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End-of-Day
3.3%
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Rhea-AI Summary

T2 Biosystems announced the completion of an $8 million private placement. The offering included 2,025,317 shares of common stock, series A warrants, and short-term series B warrants priced at $3.95 per share. The series A and B warrants have an exercise price of $3.70 per share and are immediately exercisable. The series A warrants expire in five and one-half years, while the series B warrants expire in eighteen months. H.C. Wainwright & Co. acted as the exclusive placement agent. The funds will be used for working capital, sales and marketing, manufacturing, and clinical development. The securities were offered under Section 4(a)(2) of the Securities Act and Regulation D and are not registered under the Securities Act or state securities laws. The company will file a resale registration statement for these securities.

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End-of-Day
7.45%
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Rhea-AI Summary

T2 Biosystems (NASDAQ:TTOO) announced a private placement worth $8 million, priced at-the-market under Nasdaq rules. The deal involves the purchase of 2,025,317 shares of common stock, series A warrants, and short-term series B warrants, each to purchase up to 2,025,317 shares at $3.95 per share. The series A warrants have a $3.70 exercise price and expire in five and a half years, while the series B warrants also have a $3.70 exercise price but expire in eighteen months. H.C. Wainwright & Co. acted as the exclusive placement agent. The proceeds will be used for working capital, sales, marketing, manufacturing, and clinical development costs. Closing is expected by May 17, 2024, pending customary conditions.

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Rhea-AI Sentiment
End-of-Day
43.51%
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Rhea-AI Summary

T2 Biosystems (NASDAQ:TTOO) announced that CRG Servicing has converted its Series A and Series B Preferred Stock into Common Stock.

On May 9, 2024, T2 Biosystems amended and restated the Series A and Series B Certificates of Designation to remove limitations on beneficial ownership, allowing CRG to convert all its preferred shares. This resulted in the issuance of 1,824,800 shares of Common Stock, making CRG the owner of approximately 69% of the company's outstanding shares.

Previously, on May 6, 2024, T2 Biosystems converted $15 million of debt from CRG into 3,280,618 shares of Common Stock and 17,146.48 shares of Series A Preferred Stock. Similarly, on July 3, 2023, $10 million of debt was converted into 483,457 shares of Common Stock and 93,297.26 shares of Series B Preferred Stock.

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Rhea-AI Sentiment
End-of-Day
43.51%
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none
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T2 Biosystems, Inc. announced a non-binding letter of intent to partner with ECO Laboratory for the development of the T2Lyme Panel, a test for early Lyme disease detection. The panel aims to improve upon current antibody tests by providing quicker and more accurate results within 30 days of infection. The company plans to launch the product in the third quarter of 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-10.74%
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partnership
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Rhea-AI Summary

T2 Biosystems, Inc. (NASDAQ:TTOO) has announced a territory exclusive distribution agreement in Qatar to sell T2Dx® Instruments, the T2Bacteria® Panel, the T2Candida® Panel, and the T2Resistance® Panel through a new distributor. The agreement expands the company's commercialization in the Middle East, catering to Qatar's strong focus on sepsis care. The move aims to enable rapid detection of sepsis-causing pathogens and antibiotic resistance genes, enhancing targeted therapy delivery.

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-10.74%
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T2 Biosystems, a leader in sepsis detection, announced Q1 2024 financial results, showing 25% growth in sepsis product revenue. They converted $30M debt into equity, signed key agreements, and focused on product development.

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-10.74%
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Rhea-AI Summary

T2 Biosystems announced the conversion of $15 million of its term loan into equity, reducing total debt by 80% over the past year. The company exchanged debt for shares, strengthening its balance sheet. This move provides financial flexibility for advancing commercial and development priorities.

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End-of-Day
-10.74%
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Rhea-AI Summary
T2 Biosystems, Inc. (NASDAQ:TTOO) announced the reporting of financial results for the first quarter of 2024 and business updates on May 6, 2024. The company specializes in rapid detection of sepsis-causing pathogens and antibiotic resistance genes.
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End-of-Day
1.47%
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conferences earnings
Rhea-AI Summary
T2 Biosystems, Inc. extends capital equipment supplier agreement with Vizient, Inc. through March 31, 2025, providing access to rapid sepsis detection products. The agreement reaffirms the value of T2 Biosystems' technology in improving patient outcomes and offers hospitals access to FDA-cleared diagnostic tools.
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-1.64%
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T2 Biosystems, Inc.

Nasdaq:TTOO

TTOO Rankings

TTOO Stock Data

86.35M
4.66M
6.76%
19.28%
7.2%
Small Arms, Ordnance, and Ordnance Accessories Manufacturing
Manufacturing
Link
United States of America
LEXINGTON

About TTOO

t2 biosystems is developing innovative diagnostic products to improve patient health. with two fda-cleared products targeting sepsis – the cause of one out of two hospital deaths - and a range of additional products in development, t2 biosystems is an emerging leader in the field of in vitro diagnostics. our initial development efforts target sepsis, hemostasis, bacteria and lyme disease, which are areas of significant unmet medical need. the company is utilizing its proprietary t2 magnetic resonance platform, or t2mr®, to develop a broad set of applications aimed at lowering mortality rates, improving patient outcomes and reducing the cost of healthcare by helping medical professionals make targeted treatment decisions earlier. at t2 biosystems, we know that our passion to advance the medical diagnostic landscape relies on our ability to attract and retain the very best people in the world – and to encourage them to flourish. we invite you to apply for one of our open positions at www