T2 Biosystems Stock Price, News & Analysis

T2 Biosystems, leader in rapid sepsis detection, will host an Analyst and Investor Day on April 12, 2022, at 12:00 PM ET. The virtual event will present the company’s commercial strategy and product pipeline. A panel discussion will feature medical professionals discussing the clinical value of T2 Biosystems' sepsis products. Attendees can access the live webcast and presentation on the company’s Investor Relations site. A replay will be available post-event. T2 Biosystems’ innovative products include the T2Dx® Instrument and various panels for pathogen detection.

T2 Biosystems, Inc. (NASDAQ:TTOO) reported a 55% increase in total revenue for 2021, totaling $28.1 million, with product revenue rising by 43% to $16.6 million. Sepsis test panel revenue grew 46% to $5.1 million. The company executed contracts for 32 T2Dx Instruments and expanded international distribution. Despite these gains, Q4 revenue decreased by 10% to $7.0 million, attributed to a decline in COVID-19 test sales. T2 expects 2022 revenue between $28.0 million and $31.0 million and plans to double sepsis revenue.

T2 Biosystems, Inc. (NASDAQ:TTOO) announced exclusive distribution agreements in Norway, Finland, and Türkiye to market its T2Dx Instruments and sepsis diagnostic panels. This expansion is driven by rising blood stream infections (BSIs) in Norway and Finland and the high prevalence of sepsis in Türkiye. The T2Dx Instrument enables rapid detection of pathogens and antibiotic resistance within hours, enhancing patient care. T2's CEO stated that these regions represent significant growth potential for the company's products.

T2 Biosystems, Inc. (NASDAQ:TTOO) announced the successful amendment of its Term Loan Agreement with CRG Servicing LLC, extending the interest-only period and maturity date to December 31, 2023. This extension is crucial for enhancing balance sheet flexibility, enabling further growth initiatives. CRG expressed confidence in T2 Biosystems' progress with its diagnostic technology aimed at rapid detection of sepsis-causing pathogens. The company continues to improve patient care while advancing its product pipeline, potentially positioning itself for future growth.

T2 Biosystems, Inc. (NASDAQ: TTOO) announced it will report its financial results for Q4 and FY 2021 on February 17, 2022, after market close. The company will host a conference call at 4:30 p.m. ET that day, providing details on its financial performance and developments in its product pipeline, including rapid detection technologies for sepsis-causing pathogens. Investors can access the call via a live webcast or by phone.

T2 Biosystems (NASDAQ:TTOO) announced the issuance of inducement awards to eighteen new employees on January 26, 2022. These awards, totaling options for 473,500 shares, were granted under the company's Inducement Award Plan. The options have a ten-year term with an exercise price of $0.398, based on the stock's closing price on the award date. Vesting occurs over four years, with 25% vesting on the first anniversary. T2 Biosystems specializes in rapid detection of sepsis-causing pathogens, aiming to enhance patient care and reduce costs.

T2 Biosystems (NASDAQ:TTOO) announced that its T2SARS-CoV-2™ Panel successfully detects Omicron COVID-19 subvariants BA.1, BA.2, and BA.3. With the Omicron variant comprising 99.9% of infections in the U.S., the company performed in silico analysis on over 8,600 sequences, confirming the panel's effectiveness. The T2SARS-CoV-2 Panel offers 95% clinical sensitivity and 100% specificity, yielding results in under two hours. Hospitals continue to demand this molecular testing as it enhances patient care and antimicrobial stewardship, correlating with bacterial co-infections linked to COVID-19.

T2 Biosystems, Inc. (NASDAQ:TTOO) reported preliminary financial results for Q4 and the full year 2021, achieving total revenues of $27.7 million, a 53% increase year-over-year. Product revenues grew 43% to $16.7 million. In Q4, total revenue was $6.6 million, with product revenue at $4.0 million. The company executed contracts for 32 T2Dx® Instruments, generating $5.1 million in U.S. sepsis test panel revenue, a 46% growth. As of December 31, 2021, cash totaled $33.7 million. Future product submissions are anticipated for 2022.

T2 Biosystems, Inc. (NASDAQ:TTOO) has initiated a U.S. clinical trial for its T2Biothreat® Panel, aimed at detecting six biothreat pathogens in blood samples within 3-5 hours. This panel, which operates on the T2Dx® Instrument, targets pathogens identified as threats by the U.S. Government, such as B. anthracis and Y. pestis. The company plans to submit for FDA approval in 2022, with trial costs estimated between $400,000 to $500,000. T2 Biosystems expresses confidence in the trial's success and emphasizes the importance of their technology in national safety.