T2 Biosystems reports preliminary Q4 revenue $2.3M

“We made considerable progress across the business during 2024, increasing our global installed base of T2Dx Instruments, and generating record sales for our sepsis test panels, including record U.S. sales of the T2Bacteria Panel and record international sales of the T2Resistance Panel. We entered into an exclusive U.S. commercial distribution agreement with Cardinal Health during the fourth quarter, which we expect to be a commercial growth driver, and we are training Cardinal’s sales team the week of January 6, 2025,” stated John Sperzel, Chairman and CEO of T2 Biosystems (TTOO). “We are excited by the progress on our product pipeline in 2024, which included FDA 510(k) clearances for the expanded T2Bacteria Panel to include the detection of Acinetobacter baumannii, and the expanded claim for the T2Candida Panel to include pediatric testing. Additionally, we have three pipeline products that have received FDA Breakthrough Device designation, including the U.S. T2Resistance Panel, the T2Lyme Panel, and the Candida auris test. We believe we are well-positioned heading into 2025, and we expect to accelerate our product sales, enhance our operations, and continue to advance our new product pipeline.”