T2 Biosystems announced a transformative exclusive US distribution agreement with Cardinal Health for its FDA-cleared sepsis diagnostic products. The partnership grants Cardinal Health exclusive rights to sell T2Dx Instrument, T2Bacteria Panel, and T2Candida Panel in the US, leveraging Cardinal's extensive network of over 6,000 hospitals to accelerate market penetration.The company reported preliminary Q3 2024 revenue of $2.0 million, up 35% YoY, driven by 42% growth in sepsis test panel revenue. T2 Biosystems secured 11 new T2Dx Instrument contracts and received FDA clearance for pediatric use of the T2Candida Panel. The company projects Q4 2024 sepsis revenue of $2.5-3.5 million, representing 49-109% YoY growth.Additionally, T2 Biosystems announced a collaboration with Prxcision Inc. to integrate AI-powered decision support for antibiotic stewardship. The company plans to submit the T2Resistance Panel for FDA review in Q4 2024 and aims to launch the T2Lyme Panel as a Laboratory Developed Test by early 2025. The company successfully defended its key patent for direct-from-blood pathogen detection method in Europe against opposition from major competitors.

T2 Biosystems announced a transformative exclusive US distribution agreement with Cardinal Health for its FDA-cleared sepsis diagnostic products. The partnership grants Cardinal Health exclusive rights to sell T2Dx Instrument, T2Bacteria Panel, and T2Candida Panel in the US, leveraging Cardinal's extensive network of over 6,000 hospitals to accelerate market penetration.The company reported preliminary Q3 2024 revenue of $2.0 million, up 35% YoY, driven by 42% growth in sepsis test panel revenue. T2 Biosystems secured 11 new T2Dx Instrument contracts and received FDA clearance for pediatric use of the T2Candida Panel. The company projects Q4 2024 sepsis revenue of $2.5-3.5 million, representing 49-109% YoY growth.Additionally, T2 Biosystems announced a collaboration with Prxcision Inc. to integrate AI-powered decision support for antibiotic stewardship. The company plans to submit the T2Resistance Panel for FDA review in Q4 2024 and aims to launch the T2Lyme Panel as a Laboratory Developed Test by early 2025. The company successfully defended its key patent for direct-from-blood pathogen detection method in Europe against opposition from major competitors.