Due to a ransom cyberattack on its information technology systems, the firm reported full revenue but only preliminary earnings estimates.
Companies in the AMR space have met resistance from investors and clinicians as a result of conflicting hospital priorities and perceived technology shortcomings.
The distributor, Bionuclear Puerto Rico, will give T2 access to approximately 64 hospitals in Puerto Rico and the US Virgin Islands.
While the news of the BARDA contract drove a surge in T2's stock price, it was last month's NTAP decision that has company officials and analysts encouraged.
The firm said that the funding may be used to support further development of its portfolio of diagnostics for sepsis-causing pathogens and antibiotic-resistance genes.
The CMS ruling follows the release of data showing strong performance of the test, including its ability to detect bloodstream pathogens missed by blood culture.
John McDonough announced he is moving into an executive chairman role and will step down as CEO. The firm has begun searching for a new CEO.
The firm said it has entered exclusive agreements for distribution of its products in Estonia, Greece, Ireland, Saudi Arabia, and South Africa.
The firm noted that its study showed strong performance data, including high sensitivity and high specificity, in providing results direct from blood.