T2 Biosystems Inc (TTOO) News

The T2Bacteria Panel is the only FDA-cleared diagnostic test able to detect sepsis-causing bacterial species directly-from-blood, in just 3-5 hours.

Could be bottom here

TTOO new 52 week low

T2 Biosystems Announces Preliminary Third Quarter 2024 Financial Results

Source: GlobeNewswire Inc.

T2 Biosystems, Inc. (NASDAQ: TTOO), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, today announced preliminary unaudited financial and operational results for the third quarter 2024.
Recent Financial and Operational Highlights (unaudited)

Achieved third quarter total revenue of $2.0 million, representing an increase of 35% compared to the prior year period, driven by increased sepsis test revenue and instrument revenue.
Achieved sepsis test panel revenue of $1.6 million, representing an increase of 42% compared to the prior year period, driven by increased T2Bacteria® Panel revenue in the U.S.
Executed contracts for 11 T2Dx® Instruments during the third quarter, including 1 in the U.S. and 10 internationally.
Expanded international distribution network by entering into an exclusive distribution agreement covering Malaysia and Indonesia.
Recent Pipeline and Clinical Highlights

Received clearance from the U.S. Food and Drug Administration (FDA) to market the T2Candida® Panel for pediatric patients.
Advanced the T2Resistance® Panel toward U.S. FDA 510(k) submission which is expected to occur during the fourth quarter of 2024.
Defended successfully against an opposition of a key patent for the Company’s innovative direct-from-blood pathogen detection method filed with the European Patent Office by bioMerieux.
The article “Changing the Culture of Blood Culture” recently published in The Lancet, a world-leading medical journal, highlighted the weaknesses of blood culture, and the ideal characteristics of culture-independent diagnostics consistent with the features and benefits provided by the T2Bacteria Panel, the T2Candida Panel, and the T2Resistance Panel.
“During the third quarter, our team delivered total revenue growth of 35% compared to the prior year period, which included more than a 200% increase in sales of the T2Bacteria Panel in the U.S., and more than a 75% increase in sales of the T2Dx Instrument in international markets,” stated John Sperzel, Chairman and CEO of T2 Biosystems. “In addition, we successfully defended a key European patent that protects our direct-from-blood detection methods, we received FDA-clearance to market and sell the T2Candida Panel for pediatrics, and we advanced the T2Resistance Panel toward FDA submission which we expect to occur during the fourth quarter of 2024.”

2024 Financial Outlook

The Company now expects fourth quarter 2024 total sepsis product revenue of $2.5 million to $3.5 million, representing growth of 49% to 109% compared to the fourth quarter of 2023. The Company’s 2024 revenue guidance consists entirely of sepsis product revenue and does not include potential sales of the T2Biothreat™ Panel or the T2Lyme™ Panel.

About T2 Biosystems
T2 Biosystems, a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, is dedicated to improving patient care and reducing the cost of care by helping clinicians effectively treat patients faster than ever before. T2 Biosystems’ products are powered by the proprietary T2 Magnetic Resonance (T2MR®) technology and include the T2Dx® Instrument, the T2Bacteria® Panel, the T2Candida® Panel, the T2Resistance® Panel, and the T2Biothreat™ Panel. T2 Biosystems has an active pipeline of future products, including the U.S. T2Resistance Panel, the T2Lyme™ Panel, and the expended T2Candida Panel to add the detection of Candida auris. For more information, please visit www.t2biosystems.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, as well as statements that include the words “expect,” “may,” “should,” “anticipate,” and similar statements of a future or forward-looking nature. The preliminary financial results for the third quarter contained in this press release contain forward-looking statements and are subject to the completion of management’s and the audit committee’s final reviews and our other financial closing procedures and are therefore subject to change. You should not place undue reliance on such preliminary information and estimates because they may prove to be materially inaccurate. The preliminary information and estimates have not been compiled or examined by our independent auditors and they are subject to revision as we prepare our financial statements as of and for the quarter ended September 30, 2024, including all disclosures required by U.S. generally accepted accounting principles. While we believe that such preliminary information and estimates are based on reasonable assumptions, actual results may vary, and such variations may be material. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, (i) any inability to (a) continue to operate as a going concern and raise additional debt or equity financing necessary to fund working capital, make capital expenditures and service our debt, (b) realize anticipated benefits from commitments, contracts or products; (c) successfully execute strategic priorities; (d) bring products to market; (e) expand product usage or adoption; (f) obtain customer testimonials; (g) accurately predict growth assumptions; (h) realize anticipated revenues; (i) incur expected levels of operating expenses; or (j) increase the number of high-risk patients at customer facilities; (ii) failure of early data to predict eventual outcomes; (iii) failure to make or obtain anticipated FDA filings or clearances within expected time frames or at all; or (iv) the factors discussed under Item 1A. “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission, or SEC, on April 1, 2024, and other filings the Company makes with the SEC from time to time, including our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While the Company may elect to update such forward-looking statements at some point in the future, unless required by law, it disclaims any obligation to do so, even if subsequent events cause its views to change. Thus, no one should assume that the Company’s silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.

Investor Contact:
Philip Trip Taylor, Gilmartin Group
ir@T2Biosystems.com
415-937-5406



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TTOO new 52 week low

TTOO new 52 week low

TTOO under $10

TTOO new 52 lo

TTOO new 52 week low

#TTOO 🔥 offering news! Buy the dip? $ttoo

#TTOO 🔥 watch monday! $ttoo

TTOO new 52 lo

John Sperzel, CEO of this shit company- contact informaiton

Email Address: jsperzel@t2biosystems.com
Phone Number 781-457-1220

Totally agree.. but maybe before jail he can get one or two more reverse splits done

What a scam. CEO should be put in jail.

The tide will be turning soon.

What's with the volume!!! Over 20,000,000 dollar traded on TTOO today.

Let's see we can get to $10 next 20

Ttoo

Why would anyone buy into this Ttoo BULLSHIT.? They just scammed a lot of people out of their money. WAKE UP PEOPLE!

10 cents coming! Then another R/S...

It'll Happen without a doubt $TTOO coming soon to a theater near you! 💥🏁🎬️

Let's move up!

a boulder over TTOO's head, at any moment they could declare the delisting from Nasdaq to OTC. Is it worth the risk of holding a title like that? I say no !!!

Our days ahead.

TTOO new 52 week low

Ttoo
T2 Biosystems shares plummeted 47% on forecasts of lower revenue in the third-quarter.

The stock is down 93% on the year so far. Trading was paused for volatility twice Friday before resuming at 9:55 a.m. ET.

they are almost all companies born in OTC. when you move from Nasdaq to OTC, it is always seen and judged as a downgrading of the company. so not good.
however TTOO will not go on OTC...

https://blog.otcmarkets.com/2023/01/25/otcqx-best-50-2023-see-who-made-the-list/

Plenty of big companies trade on the OTC my dude.

I hope you're joking...
if you go OTC you're done for. you're done with the big investors, and also retail. they would take you to a cap. market value of one or two million dollars. you would no longer have the problem of the dollar price, the shorts will definitively destroy you...
especially if you switch from Nasdaq to OTC. it would be an irreparable defeat...

Not necessarily...OTC can give them time to rebuild and re list on Nasdaq if they choose. But I don't think this Co is long for this earth.

The hearing usually takes 35-40 days...
they have to sell the company by the end of the year...
or it will be OTC, and therefore the end of the company...

Extension until hearing. At hearing they need to demonstrate how they will get compliant. How do you see them finding 22 million in market cap?

$TTOO--Keeping my short going here...Target $2

having paid 20k, they will have an extension...

There is no remedy. Can't create 22 million in market cap out of thin air.

nothing is decided...
there's this:
The Company has paid the applicable fee of $20,000 and expects to promptly file a request for a new hearing before the Panel, which request will suspend any further action by Nasdaq at least pending the issuance of the Panel's decision and the expiration of any extension that could be granted by the Panel to the Company following the hearing.

The Company's common stock will remain listed and eligible for trading on Nasdaq pending the outcome of the hearing. There is no guarantee, however, that the Panel will grant the Company's request to continue to list or that the Company will demonstrate compliance with all applicable listing criteria prior to the expiration of any extension that may be granted by the Panel for this purpose...

Game over
OTC bound.

Ttoo
PERFORMANCE
5 Day
-6.64%
1 Month
-29.77%
3 Month
-88.80%
YTD
-97.23%
1 Year
-97.71%

Our days ahead.

Still a POS!!!!
Where are the catalysts to drive thisnhigher?

How high can we go today? Any guess?

The tide will change today.

TTOO new 52 week low

at the beginning of the year it was trading at $140, a rebound is very likely. naturally only with any news would it launch a missile into orbit...

I'm hoping for a big reverse soon,like it happened with LIFW.

Ttoo
Down
D
O
W
N
Under$4......coming!

So obvious that some posters try @nything to recoup.

Breaking the HOD soon.

Catching the 4.7's soon.

A close of $4.6+ will be great for tomorrow's run.

Breaking the HOD soon.