The following is a summary of the T2 Biosystems, Inc. (TTOO) Q3 2024 Earnings Call Transcript:

Financial Performance:

• T2 Biosystems reported a revenue of $2 million in Q3 2024, a 34% increase year-over-year, mainly driven by sepsis product sales.

• The company reported a net loss of $10.1 million, or $0.57 per share.

• International instrument sales increased 78% compared to the prior year.

• Research and development expenses were stable at $2.7 million, while general administrative expenses decreased by 10% due to lower headcount.

Business Progress:

• T2 Biosystems has entered into an exclusive commercial distribution agreement with Cardinal Health aimed at expanding reach to US hospitals.

• They also announced a co-marketing collaboration with Precision Inc. for an AI-powered antibiotic stewardship platform.

• New distribution agreements were entered into in Malaysia and Indonesia, continuing international market expansion.

• Advanced clinical studies and plan to commercialize the T2Lyme Panel and T2Biothreat Panel.

Opportunities:

• T2 Biosystems is enhancing its market presence and potential revenue via strategic agreements with Cardinal Health for US distribution and co-marketing efforts with Precision Inc.

• The expansion into international markets with new distributor agreements could further increase T2's global footprint and sales.

Risks:

• The company is still experiencing significant financial losses, with a net loss of $10.1 million this quarter, which indicates ongoing financial vulnerability.

• T2 Biosystems is under the risk of non-compliance with NASDAQ's listing requirements, suggesting potential market and financial instability.

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