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. (Symbol: TTOO) is a pioneering company in the field of in vitro diagnostics, dedicated to improving patient health through advanced diagnostic products. The company’s core focus is on developing rapid diagnostic tools aimed at detecting sepsis-causing pathogens and antibiotic resistance genes. Sepsis, a condition that accounts for one out of two hospital deaths, is a primary target for T2 Biosystems.
Utilizing its proprietary T2 Magnetic Resonance platform, or T2MR®, the company has launched FDA-cleared products such as the T2Dx Instrument, T2Bacteria Panel, and T2Candida Panel. These products enable faster, more accurate detection of pathogens, allowing clinicians to make informed treatment decisions earlier. T2 Biosystems is also working on an array of other diagnostic solutions targeting hemostasis, bacteria, and Lyme disease. Notably, the T2Lyme Panel is slated for commercial launch in the third quarter of 2024.
Recent achievements highlight the company’s growth and stability. T2 Biosystems has recently achieved double-digit growth in sepsis product revenue and significantly reduced its total debt by approximately 80% over the past year. The company is a leader in the rapid detection of sepsis-causing pathogens, powered by its proprietary T2 Magnetic Resonance technology. These advancements not only promise to lower mortality rates but also aim to enhance patient outcomes and reduce healthcare costs.
T2 Biosystems is committed to fostering an innovative and inclusive work environment. The company actively seeks to attract and retain top talent, encouraging a culture of growth and excellence. For those interested in joining the mission to transform medical diagnostics, open positions can be found on their website.
T2 Biosystems (NASDAQ:TTOO) announced modifications to its contract with BARDA to speed up the development of key products including T2Biothreat, T2Resistance, and a comprehensive sepsis panel. The multi-year contract could be valued at up to $69.0 million. The changes allow for accelerated development of these vital panels designed to detect various pathogens and antibiotic resistance. The contract is part of a broader effort to enhance diagnostics and manage sepsis, significantly impacting patient outcomes by reducing diagnostic times and improving treatment options.
T2 Biosystems has announced a meta-analysis published in Expert Review of Medical Devices, demonstrating that its T2 Magnetic Resonance (T2MR) technology significantly reduces time to detection, species identification, and ICU and hospital stays for patients with bloodstream infections (BSIs). Key findings include a reduction of 81 hours in detection time and 77 hours in species identification compared to standard blood cultures. Patients receiving T2MR results were treated faster with targeted therapy, potentially lowering hospital costs by up to $25,000 per patient.
T2 Biosystems (NASDAQ:TTOO) will report its first quarter 2021 financial results after market close on May 6, 2021. A conference call will follow at 4:30 p.m. ET. T2 Biosystems specializes in the rapid detection of sepsis-causing pathogens, aiming to enhance patient care and reduce treatment costs. Their product lineup includes the T2Dx® Instrument and various diagnostic panels powered by proprietary T2 Magnetic Resonance technology. Interested parties can access the conference call via the company’s website or by phone.
T2 Biosystems (NASDAQ:TTOO) CEO John Sperzel has published a book detailing his personal battle with sepsis and a bloodstream infection. The book, titled Courage: Powerful Lessons in Leadership, Strength, and the Will to Succeed, aims to raise awareness of sepsis, which affects over 1.7 million Americans annually. The CDC reports sepsis costs the U.S. healthcare system more than $62 billion per year. Sperzel advocates for culture-independent rapid diagnostic tests to expedite treatment and potentially reduce mortality rates by 8% for each hour of delay.
T2 Biosystems (NASDAQ:TTOO) announced on March 26, 2021, the issuance of inducement awards to eighteen new employees, under its Inducement Award Plan. These awards include options to purchase 413,000 shares at an exercise price of $1.68, the closing price on March 25, 2021. The options vest over four years. T2 Biosystems specializes in rapid detection of sepsis-causing pathogens and aims to enhance patient care while reducing costs. The company continues to innovate with products like the T2Dx® Instrument and has a robust pipeline of future offerings.
T2 Biosystems, Inc. (NASDAQ:TTOO) reported a strong financial performance for Q4 and full-year 2020, achieving total revenue of $18.1 million, a 118% increase from the previous year. Q4 revenue reached $7.8 million, growing 154% year-over-year. Product sales for Q4 were $5.8 million, a 273% increase. The company sold 57 T2Dx Instruments in 2020, doubling the U.S. installed base, and increased U.S. sepsis test utilization by 72%. The firm anticipates 2021 revenue between $24.0 million and $26.0 million.
T2 Biosystems (TTOO) has announced its financial results for the fourth quarter and full year of 2020 will be released on March 4, 2021. Management will also host a conference call at 4:30 p.m. ET to discuss these results. The company focuses on rapid detection of sepsis-causing pathogens, aiming to enhance patient care and reduce treatment costs. Its product lineup includes the T2Dx Instrument and various diagnostic panels powered by proprietary T2 Magnetic Resonance technology. Investors can access the call via live or archived webcasts on the company’s website.
LEXINGTON, Mass., Feb. 08, 2021 (GLOBE NEWSWIRE) -- T2 Biosystems (NASDAQ:TTOO) is set to participate in the BTIG Virtual MedTech, Digital Health, Life Science & Diagnostics Tools Conference. Management will present on February 19, 2021, at 10:00am ET. A live and recorded webcast will be available in the "Investors" section of the company’s website.
T2 Biosystems specializes in rapid detection of sepsis-causing pathogens, aiming to enhance patient care while reducing costs. Their product line includes T2Dx® Instrument and various panels powered by proprietary T2 Magnetic Resonance (T2MR®) technology.
T2 Biosystems (NASDAQ:TTOO) announced that its T2SARS-CoV-2 Panel can detect the Brazil (P.1) variant of SARS-CoV-2. This capability is confirmed through an in silico analysis using genome sequences from the GISAID database, demonstrating the panel's reliability. The T2SARS-CoV-2 Panel shows clinical sensitivity of 95% and specificity of 100%, providing results in under two hours. This panel works with the FDA-cleared T2Dx Instrument, capable of running multiple tests simultaneously, facilitating faster treatment for patients suspected of sepsis and improving patient outcomes.
T2 Biosystems (NASDAQ:TTOO) announced the issuance of an inducement award to Dr. Aparna Ahuja, the new Chief Medical Officer, on January 5, 2021. The award consists of restricted stock units (RSUs) covering 460,992 shares of common stock, vesting over three years, contingent on Dr. Ahuja's continued service. This grant aligns with Nasdaq Marketplace Rule 5635(c)(4) and is part of the company's Inducement Award Plan established in 2018. T2 Biosystems aims to enhance patient care through rapid pathogen detection technologies.
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