T2 Biosystems (NSDQ:TTOO) this week said that it inked an up to $69 million diagnostics deal with a U.S. Defense Dept. research program. Lexington, Mass.-based T2 Biosystems signed a maximum $69 million funding deal with the Health and Human Services Office of the Assistant Secretary for Preparedness and Response’s Biomedical Advanced Research & Development Authority for […]
Ex-Medtronic CFO Ellis joins Inspire Medical board | Personnel Moves, August 2, 2019
Inspire Medical Systems last week named Gary Ellis, the former CFO at Medtronic (NYSE:MDT), to its board of directors effective immediately. Minneapolis-based Inspire Medical also said that Amzak Health managing partner Joyce Erony left the board effective yesterday. Ellis spent 27 years at Medtronic before retiring in 2016. “On behalf of the entire Inspire board […]
T2 Biosystems shares tumble on 2018 earnings release
Shares in T2 Biosystems (NSDQ:TTOO) have fallen nearly 20% today after the diagnostics maker posted its full year 2018 earnings. For the full year, the Lexington, Mass.-based company posted losses of $51.2 million, or $1.26 per share, on sales of $10.5 million, seeing losses shrink 18.1% while sales grew 125% compared with the previous year. For […]
T2 Biosystems wins FDA breakthrough nod for drug resistance blood test
T2 Biosystems (NSDQ:TTOO) said yesterday that it won FDA breakthrough device designation for its T2Resistance Panel diagnostic designed to detect 13 drug resistance genes from a blood sample. The T2Resistance Panel is designed to identify 13 genes that the Lexington, Mass.-based company said include “the most clinically important.” This includes genes that indicate a resistance […]
T2 Biosystems takes aim at sepsis with sensitive diagnostic tech
Sepsis, a complication of an infection caused by foreign cells infiltrating a person’s bloodstream, affects nearly two million people each year in the U.S. If not addressed quickly, the infection triggers the body’s immune system to begin attacking its own organs, resulting in a slow, weeks-long death. The challenge for clinicians is identifying the source […]
T2 Biosystems prices $46m offering
T2 Biosystems today priced an upcoming $45.8 million offering, looking to float approximately 6.1 million shares. In the offering, T2 Biosystems will offer shares at a price of $7.50 per share, slightly lower than the May 29 closing price of $8.06 per share. As of 11:11 a.m. EDT, T2 Biosystems shares are trading at $8.34 pre […]
T2 Biosystems wins FDA nod for T2 Bacteria panel, plans offering
T2 Biosystems today announced it won FDA clearance for its T2 Bacteria panel for detecting bacterial species in human blood from patients with suspected bloodstream infections, and announced plans for an upcoming offering. The Lexington, Mass.-based company said that it won approval for the detection of specific sepsis-causing bacterial pathogens as acquired from a whole […]
T2 Biosystems touts results from 4 studies of its T2Dx diagnostics system
T2 Biosystems this week released results from four studies of its T2Dx blood diagnostics system designed to detect pathogens that cause sepsis, touting clinical and performance advantages when compared to traditional blood cultures. The four studies were published in the Journal of Antimicrobial Chemotherapy, the Lexington, Mass.-based company said. A study conducted at Rome’s Gemelli Hospital […]
T2 Biosystems lands $2m grant for ‘superbug’ test
T2 Biosystems won a $2 million grant to develop a test using its T2Dx MR-based technology to detect strains of drug-resistant bacteria or so-called “superbugs.” The grant is from Carb-X, a Boston University-based public-private partnership aimed at furthering anti-bacterial R&D that’s jointly funded by the U.S. Health & Human Services Dept.’s Biomedical Advanced Research & Development […]
T2 Biosystems tops The Street with Q4, 2017 earnings
T2 Biosystems Inc. (NSDQ:TTOO) today reported fourth quarter and full year 2017 earnings that topped expectations on Wall Street. The Lexington, Mass.-based company reported sales of $1.7 million for its fourth quarter, up 87% when compared with the same quarter least year. Costs for the quarter, excluding the cost of product revenue, were $9.8 million, down […]
InVivo Therapeutics lifts Toselli to permanent prez, CEO | Personnel Moves February 6, 2018
InVivo Therapeutics (NSDQ:NVIV) said yesterday it made Dr. Richard Toselli’s spot in the corner office permanent, lifting him from acting CEO to prez and CEO. Dr. Toselli will maintain his position on the company’s board and as its chief medical officer, the position he was given when he joined the company last July. Prior to joining InVivo, […]
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