T2 Biosystems Inc. (TTOO) has advanced 16.77% at $0.47 in after-hours trading on the last check Thursday. The stock of T2 Biosystems (TTOO) lost -12.99% to complete the last trading session at $0.40. The price range of the company’s shares was between $0.4025 and $0.49. It traded 1.61 million shares, which was below its daily average of 2.21 million shares over 100 days. TTOO’s shares have dropped by -3.89% in the last five days, while they have subtracted -0.30% in the last month. TTOO stock is rising for financial results release after the ring of the bell.
What TTOO has accomplished?
T2 Biosystems (TTOO) is a forerunner in the quick discovery of sepsis-causing microbes. TTOO is committed to working on understanding consideration and decreasing the expense of care by assisting clinicians with actually treating patients quicker than at any other time. TTOO’s items incorporate the T2Candida Panel, T2Resistance Panel, T2Bacteria Panel, T2SARS-CoV-2 Panel, and T2Dx Instrument, and are controlled by the Company’s restrictive T2 Magnetic Resonance (T2MR) innovation.
T2 Biosystems (TTOO) today declared monetary outcomes for the final quarter and the entire year finished December 31, 2021.
Final Quarter 2021 Financial Results:
- Total revenue for the final quarter of 2021 was $7.0 million, an abatement of 10% contrasted with the earlier year time frame driven by expanded sepsis test board deals and BARDA contract exercises offset by diminished COVID-19 test board deals.
- Operating expenses for the final quarter of 2021 were $11.9 million, an increment of $3.3 million contrasted with the earlier year time frame.
- Net loss for the final quarter of 2021 was $12.1 million or a deficiency of $0.07 per share, contrasted with a total deficit of $9.9 million, or a deficiency of $0.07 per share, in the earlier year time frame.
Business Highlights:
- TTOO executed agreements for 32 T2Dx Instruments in 2021, including 17 instrument contracts during the final quarter.
- The organization extended global commercialization by going into selective merchant arrangements in Mexico, Singapore, South Korea, Taiwan, Norway, Finland, and Türkiye.
- T2 Biosystems (TTOO) likewise came fortifying its initiative group by employing industry veterans Aparna Ahuja MD as Chief Medical Officer, and Brett Giffin as Chief Commercial Officer, and altogether extended deals, showcasing, clinical and clinical undertakings groups.
- TTO likewise started U.S. clinical preliminaries for the T2Resistance Panel and T2Biothreat Panel in December 2021, empowering the expected recording of FDA entries for the two items during 2022.
- It corrected term advance concurrence with CRG, broadening both the interest-just period and the development date to December 31, 2023.
TTOO pushing ahead:
T2 Biosystems (TTOO) gained significant headway across its three corporate needs during 2021 speeding up deals, improving tasks, and propelling pipeline. TTOO intends to proceed with the force in 2022 with plans to twofold its T2Dx Instruments and sepsis test income contrasted with 2021, further develop its item gross edges, and complete the U.S. clinical preliminaries for the T2Resistance and T2Biothreat boards.
