T2 Biosystems Inc
NASDAQ:TTOO
T2 Biosystems Inc
T2 Biosystems, Inc. engages in the development of a proprietary technology platform. The company is headquartered in Lexington, Massachusetts and currently employs 182 full-time employees. The company went IPO on 2014-08-07. The firm is focused on rapid detection of sepsis-causing pathogens and antibiotic resistance genes. The firm is using its T2MR technology, which enables rapid detection of pathogens, biomarkers and other abnormalities in a variety of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as low as one colony forming unit per milliliter (CFU/mL). Its products include the T2Dx Instrument, T2Candida Panel, the T2Bacteria Panel, the T2Resistance Panel, and the T2SARS-CoV-2 Panel that are all powered by the T2MR technology. Its T2Candida Panel is a direct-from-blood test that identifies the lethal form of common blood stream infections that cause sepsis and candidemia. Its T2Bacteria Panel is a direct-from-blood test that detects certain bacterial pathogens associated with sepsis.
T2 Biosystems, Inc. engages in the development of a proprietary technology platform. The company is headquartered in Lexington, Massachusetts and currently employs 182 full-time employees. The company went IPO on 2014-08-07. The firm is focused on rapid detection of sepsis-causing pathogens and antibiotic resistance genes. The firm is using its T2MR technology, which enables rapid detection of pathogens, biomarkers and other abnormalities in a variety of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as low as one colony forming unit per milliliter (CFU/mL). Its products include the T2Dx Instrument, T2Candida Panel, the T2Bacteria Panel, the T2Resistance Panel, and the T2SARS-CoV-2 Panel that are all powered by the T2MR technology. Its T2Candida Panel is a direct-from-blood test that identifies the lethal form of common blood stream infections that cause sepsis and candidemia. Its T2Bacteria Panel is a direct-from-blood test that detects certain bacterial pathogens associated with sepsis.
Revenue Growth: T2 Biosystems reported preliminary Q3 2024 revenue of $2 million, up 35% from the prior year, driven by strong sepsis test and instrument sales.
Guidance Raised: Management now expects Q4 2024 sepsis product revenue of $2.5–$3.5 million (up 49–109% YoY) and FY 2024 revenue of $8.5–$9.5 million (up 18–32%).
Cardinal Health Deal: The company entered a multiyear exclusive U.S. distribution agreement with Cardinal Health, expected to expand reach to over 6,000 U.S. hospitals.
AI Collaboration: Announced a co-marketing collaboration with Prxcision to combine T2's diagnostics with AI-powered clinical decision support for better antibiotic stewardship.
Pediatric FDA Clearance: Received FDA clearance to market the T2Candida Panel for pediatric patients, expanding the total addressable market.
Pipeline Progress: Advanced the T2Resistance Panel toward Q4 2024 FDA submission and reaffirmed plans to launch the T2Lyme Panel as an LDT in early 2025.
