December 11, 2016 7:50 AM ET

Biotechnology

Company Overview of T2 Biosystems, Inc.

Company Overview

T2 Biosystems, Inc., an in vitro diagnostics company, develops diagnostic products and product candidates in the United States. It provides T2 Magnetic Resonance platform that enables detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, and urine. The company also offers T2Dx, a bench-top instrument for sepsis, Lyme disease, and other applications, as well as T2Candida panel for the detection of candida species in human whole blood specimens. In addition, it is developing T2Bacteria, a multiplex diagnostic panel that detects various bacterial pathogens associated with sepsis; T2Lyme for t...

101 Hartwell Avenue

Lexington, MA 02421

United States

Founded in 2006

168 Employees

Phone:

781-761-4646

Fax:

781-357-3080

Key Executives for T2 Biosystems, Inc.

Chief Executive Officer, President and Director
Age: 56
Total Annual Compensation: $425.0K
Chief Medical Officer
Age: 65
Total Annual Compensation: $228.4K
Chief Commercial Officer
Age: 51
Total Annual Compensation: $59.8K
Chief Scientific Officer
Age: 37
Total Annual Compensation: $274.3K
Compensation as of Fiscal Year 2015.

T2 Biosystems, Inc. Key Developments

T2 Biosystems, Inc. Presents at 2016 Canaccord Genuity Medical Technology & Diagnostics Forum, Nov-17-2016 02:00 PM

T2 Biosystems, Inc. Presents at 2016 Canaccord Genuity Medical Technology & Diagnostics Forum, Nov-17-2016 02:00 PM. Venue: Westin Grand Central, 212 East 42nd Street, New York, New York, United States. Speakers: John P. McDonough, Chief Executive Officer, President and Director, Shawn Lynch, Chief Financial Officer.

Allergan & T2 Biosystems Team Up to Develop Bacteria-Detecting Diagnostic Panel

T2 Biosystems announced that it formed a collaboration with Allergan (AGN) to develop the first blood-based diagnostic panel for the detection of Gram-negative bacterial species. The new diagnostic panel would also be used to detect antibiotic resistance in patients with severe bacterial infections, including infections that lead to sepsis. Under the terms of the collaboration, T2 Biosystems, Inc. will receive $4 million in milestone payments from Allergan and T2 will retain exclusive worldwide distribution rights for all products developed via the partnership.

T2 Biosystems, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Earnings Guidance for the Fourth Quarter of 2016

T2 Biosystems, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported total revenue of $1,084,000 against $1,049,000 a year ago. Loss from operations was $11,945,000 against $11,165,000 a year ago. Net loss and comprehensive loss was $12,783,000 or $0.51 basic and diluted per share against $11,644,000 or $0.57 basic and diluted per share a year ago. For the nine months, the company reported total revenue of $3,171,000 against $1,802,000 a year ago. Loss from operations was $37,972,000 against $31,840,000 a year ago. Net loss and comprehensive loss was $40,255,000 or $1.64 basic and diluted per share against $33,258,000 or $1.64 basic and diluted per share a year ago. The company provided earnings guidance for the fourth quarter of 2016. The company anticipates higher product revenue in the fourth quarter of 2016 from the testing of more patients with T2Candida than was realized in the first three quarters of 2016, primarily as a result of additional hospitals going live and the increased use of the T2Candida Panel at institutions that are already testing patients. Total product revenue could show flat to nominal growth due to fewer instrument sales expected in the fourth quarter. Research revenue is expected to be comparable to what was realized in the third quarter of 2016. The company anticipates total operating expenses for the fourth quarter of 2016 to be between $11.3 million and $11.8 million, of which approximately $1.7 million is non-cash expenses, which are primarily depreciation and stock compensation expense.

Similar Private Companies By Industry

Company Name Region
20n Labs, Inc. United States
23andMe, Inc. United States
2C Tech Corporation, Inc. United States
3-V Biosciences, Inc. United States
3D Bio Holdings LLC United States

Recent Private Companies Transactions

Type
Date
Target
Private Placement
September 21, 2016
--
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Bloomberg L.P. United States
The Advertising Council, Inc. United States
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact T2 Biosystems, Inc., please visit www.t2biosystems.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.