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.
Abcuro, Inc., a clinical-stage biotechnology company focused on therapies for autoimmune diseases and cancer, has appointed Darlene Deptula-Hicks to its Board of Directors. With over 30 years of experience in the life sciences sector, she previously served as CFO for several companies, including F-star Therapeutics (NASDAQ:FSTX) and T2 Biosystems (NASDAQ:TTOO). Her expertise in growth strategies and capital raising is expected to boost Abcuro's clinical development initiatives, particularly for its lead program, ABC008, which has received Orphan Drug Designation from the FDA.
T2 Biosystems, a leader in sepsis detection, announced the granting of inducement awards to 20 new employees on October 1, 2021. These awards consist of options to purchase 621,500 shares at an exercise price of $0.938, the closing price on that date. The awards will vest over four years. This issuance is part of T2 Biosystems’ Inducement Award Plan, aimed at enhancing employee retention and attracting talent within the competitive healthcare market. T2 Biosystems continues to innovate with its proprietary T2 Magnetic Resonance technology to improve patient care.
T2 Biosystems recently showcased key data on rapid diagnostics for sepsis-causing pathogens at prominent conferences, including AACC, CAP21, and IDWeek, during Sepsis Awareness Month. The company's technologies, such as the T2Candida® and T2Bacteria® Panels, demonstrated high sensitivity (up to 91.1%) and specificity (up to 99.4%) in detecting bloodstream infections. This advancement offers significant potential for improved patient outcomes and cost savings through faster diagnosis and targeted therapies.
T2 Biosystems has secured an additional $6.4 million from the Biomedical Advanced Research and Development Authority (BARDA) to enhance its diagnostic technologies for sepsis and antibiotic resistance. This funding is part of a multi-year cost share contract, potentially totaling $69 million. Products under development include the T2Resistance® and T2Biothreat® panels, aimed at improving diagnosis of bloodstream infections and mitigating biothreats. The company plans to initiate U.S. clinical trials for these panels, addressing the pressing issue of sepsis, which costs nearly $62 billion annually in the U.S.
T2 Biosystems (NASDAQ:TTOO) announces participation in multiple industry conferences throughout September, coinciding with Sepsis Awareness Month. The company aims to showcase new data on its rapid diagnostics technologies for sepsis detection. CEO John Sperzel and Chief Medical Officer Aparna Ahuja will lead key sessions, emphasizing culture-independent testing's impact on patient outcomes. Presentations are scheduled at events such as the Sepsis Alliance Summit and the American Association for Clinical Chemistry’s Annual Scientific Meeting. T2 Biosystems is also set to share findings on detecting antibiotic-resistant bacteria and SARS-CoV-2 variants.
T2 Biosystems, Inc. (NASDAQ:TTOO) announced its T2SARS-CoV-2™ Panel can detect the Mu (B.1.621) and Iota (B.1.526) variants of SARS-CoV-2, enhancing its capabilities against COVID-19. CEO John Sperzel highlighted this expansion of detection technology, which already includes the Delta and other variants. The panel shows high clinical sensitivity (95%) and specificity (100%) and delivers results in under two hours using the T2Dx® Instrument. This advancement is particularly significant as data suggests COVID-19 can lead to sepsis.
T2 Biosystems (NASDAQ:TTOO) announced plans to consolidate operations into a new 70,000 sq. ft. facility in Billerica, Massachusetts, set to occur in the second half of 2022. This move aims to enhance efficiency, reduce operating costs, and attract talent within the competitive Massachusetts life sciences market. The new site will feature state-of-the-art laboratory and manufacturing spaces to support the development of current and future products, including T2 Biosystems' pathogen detection technologies.
T2 Biosystems has launched initiatives for Sepsis Awareness Month, highlighting the critical role of rapid diagnostics amid rising sepsis cases linked to COVID-19. Studies show COVID-19 patients are 22% more likely to develop sepsis compared to influenza patients. The company plans awareness campaigns throughout September, including social media efforts and sponsorships of key events like the Sepsis Alliance Summit. T2's T2Bacteria® and T2Candida® Panels facilitate quick identification of pathogens, aiming to improve patient outcomes and reduce healthcare costs.
T2 Biosystems, Inc. (NASDAQ:TTOO) reported strong financial results for Q2 2021, achieving a total revenue of $6.7 million, a remarkable 162% increase year-over-year. Product revenue surged by 253% to $3.7 million, driven by heightened sepsis test sales. The net loss for the quarter was $(12.5) million, or $(0.08) per share. The company anticipates full-year 2021 revenue to range between $24.0 million and $26.0 million but has adjusted product revenue expectations down to $14.0 million to $15.0 million, citing lower T2SARS-CoV-2 Panel sales.
T2 Biosystems, a leader in rapid detection of sepsis-causing pathogens, announced participation in the Canaccord Genuity 41st Annual Growth Conference on August 11, 2021, at 3:00 PM ET. Interested individuals can access the live and recorded webcast on the Company’s website. T2 Biosystems is dedicated to enhancing patient care by enabling faster treatment options through its advanced diagnostic products, including the T2Dx® Instrument and various pathogen detection panels, all powered by proprietary T2 Magnetic Resonance technology.
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