NEW YORK (GenomeWeb) – T2 Biosystems reported after the close of the market Thursday a 3 percent drop in overall revenues for the second quarter but a big increase in product sales year over year.

The Lexington, Massachusetts-based diagnostics firm brought in total revenues of $956,000 for the three months ended June 30 versus $990,000 in Q2 2016. The drop was the result of a sharp decline in research revenue to $221,000 from $839,000 year over year, which the firm attributed to lower revenue recognition from its codevelopment agreement with Canon US Life Sciences.

Get the full story

This story is free
for registered users

Registering provides access to this and other free content.

Register now.

Already have an account?
Login Now.