February 28, 2017 12:40 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 Commercial Officer
Age: 51
Total Annual Compensation: $59.8K
Compensation as of Fiscal Year 2015.

T2 Biosystems, Inc. Key Developments

T2 Biosystems, Inc. Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Earnings Guidance for the First Quarter of 2017

T2 Biosystems, Inc. reported financial results for the fourth quarter and year ended December 31, 2016. For the quarter, total revenue was $910,000, which consisted of $579,000 of product revenue and $331,000 of research revenue. Product revenue in the fourth quarter of 2016 was primarily derived from an increase in T2Candida Panel sales due to increased patient testing across the installed base. In comparison, the company recorded total revenues of $1.01 million and $343,000 of product revenue in the fourth quarter of 2015. For the year, total revenue was $4.1 million, which consisted of $1.75 million of product revenue and $2.33 million of research revenue. Product revenue for the full-year was primarily derived from a combination of instrument and consumable sales. In comparison, the Company recorded total revenues of $2.8 million, which consisted of $599,000 of product revenue for the full-year of 2015. The company anticipates higher product revenue in the first quarter of 2017 from an increase in T2Candida Panel sales due to increased patient testing across the installed base. The company anticipates total operating expenses for the first quarter of 2017 to be between $13.2 million and $13.7 million, of which approximately $1.8 million is non-cash expenses, which are primarily related to depreciation and stock compensation expenses.

T2 Biosystems, Inc. to Report Q4, 2016 Results on Feb 13, 2017

T2 Biosystems, Inc. announced that they will report Q4, 2016 results at 5:00 PM, Eastern Standard Time on Feb 13, 2017

T2 Biosystems, Inc., Q4 2016 Earnings Call, Feb 13, 2017

T2 Biosystems, Inc., Q4 2016 Earnings Call, Feb 13, 2017

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
September 21, 2016
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