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T2 Biosystems

Leadership aims to lower cost of goods and real estate footprint, while driving test utilization by targeting clinicians. 

The firm placed 45 of its T2Dx diagnostics instruments in 2019, but plans to reduce that number in 2020 to focus on instrument utilization.

The firm also announced an exclusive distribution deal covering Israel for its T2 Resistance, T2Bacteria, and T2Candida panels

The T2Resistance Panel, which runs on the T2Dx instrument, detects 13 genes conferring antimicrobial resistance directly from whole blood in three to five hours.

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.

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