Summary by Moomoo AI
On October 7, 2024, T2 Biosystems, Inc., a medical diagnostic company, announced its preliminary financial results for the third quarter ended September 30, 2024. The company reported a 35% increase in total revenue, amounting to $2.0 million, compared to the same period in the previous year. This growth was primarily attributed to a rise in sepsis test revenue and instrument sales. Specifically, the sepsis test panel revenue saw a 42% increase, reaching $1.6 million, largely due to the T2Bacteria Panel's performance in the U.S. market. Additionally, T2 Biosystems executed contracts for 11 T2Dx Instruments, with one sale in the U.S. and ten internationally. The company also expanded its international distribution network through an exclusive agreement covering Malaysia and Indonesia. Notably, the U.S. Food and Drug Administration (FDA) granted clearance...Show More
