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 (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.
T2 Biosystems, Inc. (NASDAQ:TTOO) announced significant financial and operational results for Q4 and full year 2020, showing strong revenue growth and an improved balance sheet. Q4 revenue is expected at $7.8 million, up 155% year-over-year, with product revenue at $5.8 million, a 274% increase. Full year 2020 revenue is projected at $18.1 million, a 118% increase. The company amended its loan agreement with CRG, extending payment periods and reducing revenue targets, while enhancing its installed base of T2Dx Instruments amid rising demand for COVID testing.
T2 Biosystems (TTOO) announced that its T2SARS-CoV-2™ Panel can detect multiple SARS-CoV-2 variants, including those from the UK, South Africa, and the U.S. The panel boasts a clinical sensitivity of 95% and specificity of 100%. Following extensive genomic analysis of over 42,000 sequences, the test can effectively identify 99.99% of SARS-CoV-2 viruses, including the B.1.1.7 and B.1.351 variants. Results are available in under two hours, with the T2Dx® Instrument able to process up to sixty samples daily. The company aims to enhance patient outcomes amidst the ongoing pandemic.
T2 Biosystems (NASDAQ:TTOO) has appointed Aparna Ahuja, MD, as its new Chief Medical Officer, effective immediately. Dr. Ahuja brings extensive experience from her previous role at Becton Dickinson and a strong background in laboratory medicine and diagnostics. The company highlights the growing importance of rapid diagnostics for sepsis management amidst global health challenges. T2 Biosystems is known for its FDA-cleared T2Bacteria® and T2Candida® Panels, which enable rapid detection of sepsis-causing pathogens from blood samples, enhancing patient outcomes.
T2 Biosystems (NASDAQ: TTOO), a leader in rapid detection of sepsis-causing pathogens, will participate in the Canaccord Genuity Virtual MedTech & Diagnostics Forum on November 19, 2020, at 2:30 PM ET. The presentation will be accessible via a live and recorded webcast on the company’s website.
The company is dedicated to enhancing patient care and lowering costs with innovative products like the T2Dx® Instrument and various diagnostic panels, driven by their proprietary T2 Magnetic Resonance (T2MR®) technology.
T2 Biosystems (NASDAQ:TTOO) reported a remarkable 213% increase in total revenues for Q3 2020, reaching $5.2 million. Product sales surged by 219% to $3.8 million, bolstered by record sales of 32 T2Dx instruments, a 167% increase year-over-year. The company also saw substantial growth in T2Bacteria and T2Candida panel revenues, up 70% and 38% respectively. Additionally, T2 received Emergency Use Authorization for its COVID-19 diagnostic test and secured a $10.5 million contract option from BARDA. The full-year revenue outlook now ranges from $19.0 million to $20.0 million.
John Sperzel, President and CEO of T2 Biosystems, joins the Advisory Board of Sepsis Alliance to enhance efforts in sepsis awareness and management. His role on the Industry Council aims to leverage industry expertise to improve sepsis care across the U.S. Sepsis Alliance, the leading nonprofit focused on sepsis, has significantly raised awareness about the condition, which now impacts many lives. Sperzel’s personal experience with sepsis underscores his commitment to this cause, aligning with T2 Biosystems’ goal of advancing sepsis diagnostics.
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