On February 15, 2024, T2 Biosystems, a medical diagnostic company, reported its financial results for the fiscal quarter and full year ended December 31, 2023. The announcement was made through a press release and during a conference call, the transcript of which was furnished as Exhibit 99.1 in a Form 8-K filed with the SEC. The company, headquartered in Lexington, Massachusetts, and incorporated in Delaware, is listed on the Nasdaq Capital Market under the trading symbol TTOO. T2 Biosystems reported full year total revenue of $7.3 million, with product revenue of $6.7 million, and a record sales of its T2Bacteria Panel in the U.S. market. The company added 26 T2Dx Instruments to its installed base, which is nearing 200 globally. For the fourth quarter of 2023, sepsis and related product revenue was $1.7 million...Show More

On February 15, 2024, T2 Biosystems, a medical diagnostic company, reported its financial results for the fiscal quarter and full year ended December 31, 2023. The announcement was made through a press release and during a conference call, the transcript of which was furnished as Exhibit 99.1 in a Form 8-K filed with the SEC. The company, headquartered in Lexington, Massachusetts, and incorporated in Delaware, is listed on the Nasdaq Capital Market under the trading symbol TTOO. T2 Biosystems reported full year total revenue of $7.3 million, with product revenue of $6.7 million, and a record sales of its T2Bacteria Panel in the U.S. market. The company added 26 T2Dx Instruments to its installed base, which is nearing 200 globally. For the fourth quarter of 2023, sepsis and related product revenue was $1.7 million, a 13% sequential growth compared to the third quarter. The company also outlined its plan to regain compliance with Nasdaq's Market Value of Listed Securities requirement, including a conversion of shares and a proposed conversion of a portion of its term loan into common stock. T2 Biosystems has received FDA 510(k) clearances for its expanded T2Bacteria Panel and T2Biothreat Panel, and is awaiting clearance for the pediatric use of its T2Candida Panel. The company has several new test panels in development, including the T2Resistance Panel, T2Lyme Panel, and a test for Candida auris, all designed to run on the T2Dx Instrument. The company's financial outlook for 2024 anticipates a growth in sepsis and related product revenues to between $10.0 million and $11.0 million.