T2 Biosystems Announces Preliminary Fourth Quarter and Full Year 2021 Results
Recent Highlights (unaudited)
•Achieved full year 2021 total revenue of $27.7 million, including product revenue of $16.7 million, representing an increase of 53% and 43%, respectively compared to the prior year
•Achieved fourth quarter total revenue of $6.6 million, including fourth quarter product revenue of $4.0 million
•Executed contracts for 32 T2Dx Instruments in 2021, including 17 T2Dx Instrument contracts during the fourth quarter, consisting of 3 from the U.S. and 14 from outside the U.S.
•Generated full year 2021 U.S. sepsis test panel revenue of $5.1 million, representing growth of 46% compared to the prior year
•Hired a veteran Chief Commercial Officer and significantly
expanded our sales, marketing, clinical and medical affairs teams
•Initiated clinical trials for the T2Resistance Panel and
T2Biothreat Panel in December, enabling potential filing of FDA submissions for both products during 2022
•Expanded commercialization in Asia Pacific and Latin America regions by entering into distributor agreements in Taiwan, Singapore, South Korea, and Mexico
•Cash, cash equivalents, marketable securities, and restricted cash totaled $33.7 million as of December 31, 2021
https://t2biosystems.gcs-web.com/news-releases/...-quarter-and-full-0T2 Biosystems Announces the Initiation of the T2Resistance® Panel Clinical Trial
https://t2biosystems.gcs-web.com/news-releases/...ncer-panel-clinicalT2 Biosystems Announces the Initiation of the T2Biothreat® Panel Clinical Trial
https://t2biosystems.gcs-web.com/news-releases/...eatr-panel-clinical