T2 Biosystems, Inc - TTOO STOCK NEWS

T2 Biosystems, Inc. (NASDAQ:TTOO) presented new clinical data at the ECCMID conference, reinforcing the effectiveness of its T2Bacteria® and T2Candida® Panels. These sepsis panels, utilized with the T2Dx® Instrument, demonstrate rapid and accurate detection of pathogens, crucial for improving patient outcomes in critical care settings.

The T2Bacteria Panel effectively detected 77% of bloodstream infections and led to a 50% change in antibiotic therapy at Motol University Hospital. The T2 sepsis panels have gained routine clinical usage at Karolinska University Hospital due to their high specificity and sensitivity. The T2MR technology significantly reduces the time for targeted therapy, allowing decisions up to 35 hours earlier than traditional blood cultures.

T2 Biosystems (NASDAQ:TTOO) announced the launch of a new webinar and white paper on the T2Candida Panel, focusing on its clinical data and real-world applications in Medical Intensive Care Units (MICU). The T2Candida Panel enables rapid detection of sepsis-causing fungal pathogens directly from whole blood, significantly shortening the time to diagnosis and antifungal treatment while reducing therapy duration. Dr. Neil Clancy emphasized its importance for critically ill patients. The white paper includes user experiences, treatment algorithms, and patient outcomes, underscoring the panel's role in improving patient care amidst increasing candidiasis risks in immunocompromised patients.

T2 Biosystems (NASDAQ:TTOO) announced plans to enhance its FDA-cleared T2Candida Panel by adding the detection of the multidrug-resistant fungal pathogen Candida auris. This pathogen poses a significant threat, with a mortality rate of up to 60%, especially among vulnerable populations. The CDC highlights the challenge of identifying Candida auris using conventional lab methods, which can hinder effective treatment. T2's innovative test aims to provide faster detection directly from blood samples, potentially improving patient outcomes. The company is also pursuing partnerships to expedite commercialization of this test.

T2 Biosystems, Inc. (NASDAQ:TTOO) reported a total revenue of $22.3 million for 2022, with $11.3 million from product sales and $11.0 million from research contributions. The company achieved record sepsis product revenue of $8.4 million in 2022, a 17% increase from 2021. However, total revenue for Q4 2022 decreased by 21% year-over-year to $5.5 million, with product revenue down 45%. The net loss for the year was $62.3 million, or $12.28 per share. Looking forward, T2 expects 2023 sepsis product revenue between $11.0 million and $13.0 million, a projected growth of 31% to 55%.

T2 Biosystems (NASDAQ:TTOO) will announce its financial results for Q4 and full year 2022 on March 13, 2023, after market close. A conference call will follow at 4:30 p.m. ET, allowing investors to access the details via a live and archived webcast. The company specializes in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, emphasizing its commitment to enhancing patient care. T2 Biosystems' products include innovative testing panels, powered by proprietary T2 Magnetic Resonance technology, aimed at improving treatment speed and reducing costs.

T2 Biosystems, Inc. (NASDAQ: TTOO) has announced the pricing of an underwritten public offering of 11,111,111 shares of common stock and warrants for gross proceeds of approximately $12 million, priced at $1.08 per share, before discounts and commissions. The accompanying warrants, also priced at $1.08, are exercisable immediately and will expire in five years. The offering is expected to close on February 17, 2023, subject to customary conditions. Craig-Hallum Capital Group LLC is the sole managing underwriter. This announcement follows a shelf registration statement declared effective in April 2021, allowing T2 Biosystems to raise capital for its innovative products and technologies.

T2 Biosystems, Inc. (NASDAQ: TTOO) announced an underwritten public offering of its common stock and warrants, subject to market conditions. The offering will be managed by Craig-Hallum Capital Group LLC and is made under a shelf registration filed with the SEC. A preliminary prospectus will be available on the SEC's website. T2 Biosystems focuses on rapid detection of sepsis-causing pathogens and antibiotic resistance, improving patient care while reducing costs. The company has an active pipeline including various diagnostic panels powered by its T2 Magnetic Resonance technology.

T2 Biosystems announced positive results for the T2Biothreat™ Panel after completing U.S. clinical evaluations. The panel, designed for direct-from-blood testing, demonstrates high sensitivity and specificity in detecting six biothreat pathogens including those causing anthrax and plague. The company aims to file for FDA clearance and then pursue commercial sales. Rapid detection of these pathogens can significantly improve clinical outcomes and reduce mortality rates, with infections having fatality rates of 40-90%. Testing involved over 470 negative samples and 350 positive samples, showing impressive performance metrics.

T2 Biosystems (TTOO) has advanced to Phase 2 of the LymeX Diagnostics Prize, aimed at developing innovative Lyme disease diagnostics. Their T2Lyme Panel, designed for early Lyme disease detection, has received Breakthrough Device Designation from the FDA and is patented. This prize competition stands to enhance Lyme diagnostics by offering cash prizes and resources for teams working on next-generation solutions. With $9 million available in future prizes, the initiative aims to foster a broader market response to Lyme disease, which affects approximately 476,000 people annually in the U.S. The Phase 2 cohort will submit concept papers in October 2023.