$T2 Biosystems (TTOO.US)$ Shares of T2 continued holding gai...

Shares of T2 continued holding gains from Tuesday’s session, on Wednesday. The company has gained attention thanks to its portfolio of detection platforms for things like pathogens and certain genes. Its products include the T2Dx® Instrument, the T2Bacteria® Panel, the T2Candida® Panel, the T2Resistance® Panel, and the T2SARS-CoV-2™ Panel and are powered by the proprietary T2 Magnetic Resonance (T2MR®) technology.

Earlier this month, T2 received FDA breakthrough device designation for its candida auris diagnostic test. It’s the third T2 product to receive the designation. It device is a direct-from-blood molecular diagnostic test to detect C. auris in 3-5 hours.

“We are pleased with the FDA’s decision to grant Breakthrough Device designation for our Candida auris test, which provides greater and more frequent access to the FDA and may accelerate our path to FDA clearance,” stated John Sperzel, Chairman and CEO of T2 Biosystems. “We believe adding Candida auris to the test menu on our FDA-cleared T2Dx Instrument will provide clinicians with a valuable tool to rapidly detect a dangerous, multidrug-resistant fungal pathogen much faster than blood culture-based methods, strengthening our value proposition and increasing the attractiveness of our products to U.S. hospitals.”

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Something to keep in mind if TTOO stock is on your watch list is early next month it will report earnings. The company has already given lower preliminary Q2 sales guidance at the beginning of July. So it will be interesting to see how the market reacts once the official figures are released.