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.
T2 Biosystems, Inc. (TTOO) pioneers rapid diagnostic solutions using its proprietary T2 Magnetic Resonance (T2MR) technology to address critical healthcare challenges like sepsis detection. This dedicated news hub provides investors and healthcare professionals with timely updates on company developments directly impacting diagnostic innovation.
Access authoritative information on FDA-cleared product launches, financial performance, and strategic partnerships that shape the future of direct-from-blood testing. Our curated collection ensures you stay informed about operational milestones and clinical advancements without promotional bias.
Key updates include developments in sepsis diagnostics, antibiotic resistance detection, and expansions into Lyme disease testing. Each announcement is vetted for relevance to market trends and clinical practice improvements, offering actionable insights for stakeholders across healthcare and investment sectors.
Bookmark this page for streamlined access to T2 Biosystems' official communications and third-party analyses. Regular updates ensure you maintain a current understanding of the company's role in advancing rapid diagnostic technologies for critical care applications.
T2 Biosystems, a leader in rapid sepsis detection, has initiated a U.S. clinical trial for its T2Resistance® Panel, which identifies 13 antibiotic resistance genes directly from blood in 3-5 hours. This move aims to support an FDA submission in 2022, following the evaluation of up to 1,500 patients across 10 hospitals. The trial is projected to cost $2.5 million. With FDA's 'Breakthrough Device' designation, the T2Resistance® Panel could revolutionize treatment for antibiotic-resistant infections, addressing a major public health threat.
T2 Biosystems (NASDAQ:TTOO) announced that its T2SARS-CoV-2™ Panel successfully detects the Omicron COVID-19 variant (B.1.1.529). The Omicron variant, designated as a 'variant of concern' by the WHO, has over 30 mutations and has spread to 20 countries. The T2SARS-CoV-2 Panel shows 95% sensitivity and 100% specificity, providing results in under two hours. This capability supports clinicians in managing sepsis-related complications during the pandemic. T2 Biosystems aims to enhance patient care while reducing healthcare costs with its innovative diagnostic solutions.
T2 Biosystems (NASDAQ:TTOO) announced a territory-exclusive distribution agreement in Taiwan for its T2Dx® Instruments and related diagnostic panels. This deal involves an initial order of three T2Dx Instruments and marks T2 Biosystems’ third entry into the Asia-Pacific market in just 30 days. Taiwan has a notable sepsis rate of 287 per 100,000 people, highlighting a significant healthcare need in the region. The company aims to collaborate with Taiwanese health authorities for regulatory approval, enhancing the quality of sepsis care available in the market.
T2 Biosystems, a leader in rapid detection of sepsis-causing pathogens, announced its participation in the Canaccord Genuity Virtual MedTech, Diagnostics, and Digital Health & Services Forum. The presentation is scheduled for November 18, 2021, at 11:30 am ET. Interested stakeholders can access the live and recorded webcast on the company’s website. T2 Biosystems offers innovative products like the T2Dx Instrument and various pathogen detection panels, all powered by proprietary T2 Magnetic Resonance technology. The company aims to enhance patient care and reduce costs by enabling faster treatment.
T2 Biosystems will present at the 7th annual World Anti-Microbial Resistance Congress on November 8-9, 2021, in Washington, DC. The event will focus on combating antimicrobial resistance, attracting over 500 stakeholders, including industry leaders and infectious disease experts. John Sperzel, CEO, emphasized the importance of rapid diagnostics like the T2 Magnetic Resonance technology for improving patient outcomes. T2 Biosystems also secured an additional $6.4 million in funding from BARDA to advance its T2Resistance Panel, aimed at detecting antibiotic resistance genes directly from blood.
T2 Biosystems, Inc. (NASDAQ:TTOO) reported third-quarter financial results for 2021, achieving revenue of $7.4 million, a 42% increase year-over-year. Product revenue grew 15% to $4.3 million, driven by higher sepsis test panel sales. The company’s annualized run rate for U.S. sepsis test panel utilization rose by 55%. T2 sold 8 T2Dx® Instruments in Q3 and expanded into Asia-Pacific with two additional sales. Operating expenses increased to $14.9 million, resulting in a net loss of $14.0 million. The company raised its full-year revenue guidance to $25.0-$27.0 million.
T2 Biosystems has announced the appointment of Brett Giffin as Chief Commercial Officer, effective November 8, 2021. Giffin will lead global sales, marketing, service, and customer support, succeeding Anthony Pare, who has taken a CEO position at BioPorto A/S. Giffin brings extensive experience from various roles in the medical technology sector, including CEO positions and leadership at notable companies such as Accriva Diagnostics and Boston Scientific. This strategic move aims to enhance T2's growth initiative in the U.S. and international markets.
T2 Biosystems, Inc. (NASDAQ:TTOO) will announce its third-quarter 2021 financial results on November 4, 2021, after the market closes. A conference call will follow at 4:30 p.m. ET to discuss the results. Interested investors can access the call through a live and archived webcast via the company's website or by dialing in directly. T2 Biosystems specializes in rapid detection of sepsis-causing pathogens, aiming to enhance patient care while reducing costs. Their product lineup includes instruments and panels utilizing proprietary T2 Magnetic Resonance technology.
T2 Biosystems has made a significant move in its international expansion by entering the Asia-Pacific market through exclusive distribution agreements in Singapore and South Korea. The company will distribute the T2Dx® Instruments and panels for the rapid detection of sepsis-causing pathogens. The shipment of two instruments to Singapore and a purchase order for four more to South Korea marks the commencement of this initiative. With sepsis incidents high in this region, T2 Biosystems aims to improve patient care by providing advanced diagnostic solutions.
T2 Biosystems (NASDAQ:TTOO) has appointed Laura Adams to its Board of Directors, effective immediately. With over 20 years in healthcare, Adams is noted for her leadership in digital health transformation. Previously, she was the founding President and CEO of the Rhode Island Quality Institute, where she achieved significant reductions in infections and sepsis mortality. Adams' expertise will be invaluable as T2 Biosystems aims to enhance its culture-independent diagnostics, addressing critical healthcare needs, particularly in sepsis management.
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