A broad team of researchers has developed a microarray that looks for 171,000 different peptide fragments to differentiate among tick-borne diseases.
The infectious disease diagnostics firm added it secured seven new contracts during the fourth quarter.
The sepsis diagnostics market heated up during the year, with FDA clearances for a handful of tests, growing investor interest, and R&D advances in the field.
The company posted $1.1 million in total revenues, as product revenues shot up 27 percent year over, offset by a 27 percent drop in research revenues.
The university is leveraging CDC funding to validate PCR and real-time PCR assays for detecting Candida auris in hospitals.
The investment bank said that T2 Bio's installed base and number of tests per instrument could increase as more hospitals realize the clinical and economic benefits of the company’s technology.
The offering of nearly 4.4 million shares was priced at $4 per share, and the underwriters exercised their option to purchase an additional 656,250 shares of T2’s common stock
The Lexington, Massachusetts-based firm plans to offer about 4.4 million shares of its common stock at a price of $4 per share.
T2 Biosystems' device will potentially enable 95 percent of patients with bloodstream infections to receive targeted therapy within eight hours of a blood draw.
The collaboration will use T2Dx instruments at Cidara US trial sites to detect sepsis-causing superbugs including Candida auris.