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NEWS ER
T2 Biosystems (NASDAQ:TTOO) reported Q3 2024 financial results with total revenue of $2.0 million, up 34% year-over-year.
Sepsis test panel revenue reached $1.4 million, also increasing 34%.
The company secured 11 T2Dx® Instrument contracts and initiated an exclusive U.S. distribution agreement with Cardinal Health.
Net loss was $10.1 million ($0.57 per share), improving from $15.4 million loss in Q3 2023.
Cash position stood at $2.1 million as of September 30, with additional $4.3 million raised via ATM during Q3.
The company projects Q4 2024 sepsis product revenue between $2.5-3.5 million.
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