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T2 Biosystems ( (TTOO) ) has provided an announcement.
On February 13, 2025, T2 Biosystems’ Board of Directors approved a significant reduction-in-force affecting nearly all employees, resulting in expected one-time charges of $1.0 million for termination-related costs. Key executives were terminated without cause but reappointed under consulting agreements, receiving hourly compensation for limited weekly hours. Additionally, the company canceled a planned Special Meeting of Stockholders and abandoned a proposed reverse stock split due to a delisting notice from the Nasdaq Hearings Panel.
More about T2 Biosystems
T2 Biosystems, Inc. is a company in the medical diagnostics industry, focusing on developing innovative diagnostic products aimed at improving patient care. Their primary market focus includes rapid detection of pathogens and other health risks, which is crucial for timely and effective treatment.
YTD Price Performance: -83.75%
Average Trading Volume: 1,430,587
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $1.83M
See more insights into TTOO stock on TipRanks’ Stock Analysis page.
