T2 Biosystems achieved Q3 2024 total revenue of $2.0 million, up 35% YoY, driven by increased sepsis test and instrument sales. Sepsis test panel revenue grew 42% to $1.6 million, with T2Bacteria Panel sales in the U.S. surging over 200%. The company secured contracts for 11 T2Dx Instruments, including 10 international units.The company entered into an exclusive U.S. distribution agreement with Cardinal Health on October 1, 2024, covering its FDA-cleared direct-from-blood diagnostics portfolio, including T2Dx Instrument, T2Bacteria Panel, and T2Candida Panel. The three-year agreement is subject to automatic renewal.Looking ahead, T2 Biosystems projects Q4 2024 sepsis product revenue of $2.5-3.5 million, representing 49-109% growth YoY. The company also received FDA clearance for pediatric use of the T2Candida Panel and expects to submit the T2Resistance Panel for FDA 510(k) clearance in Q4 2024.

T2 Biosystems achieved Q3 2024 total revenue of $2.0 million, up 35% YoY, driven by increased sepsis test and instrument sales. Sepsis test panel revenue grew 42% to $1.6 million, with T2Bacteria Panel sales in the U.S. surging over 200%. The company secured contracts for 11 T2Dx Instruments, including 10 international units.The company entered into an exclusive U.S. distribution agreement with Cardinal Health on October 1, 2024, covering its FDA-cleared direct-from-blood diagnostics portfolio, including T2Dx Instrument, T2Bacteria Panel, and T2Candida Panel. The three-year agreement is subject to automatic renewal.Looking ahead, T2 Biosystems projects Q4 2024 sepsis product revenue of $2.5-3.5 million, representing 49-109% growth YoY. The company also received FDA clearance for pediatric use of the T2Candida Panel and expects to submit the T2Resistance Panel for FDA 510(k) clearance in Q4 2024.