T2 Biosystems announced preliminary Q4 and full-year 2024 results, reporting record product revenues of $2.3M for Q4 and $8.3M for 2024, up 37% and 23% YoY respectively. The company executed contracts for 27 T2Dx Instruments in 2024 and entered an exclusive U.S. agreement with Cardinal Health for sepsis product sales.T2 Biosystems expanded its international distribution network, extended its agreement with Vizient, and reduced debt by converting $30M of its term loan to common stock. The company's cash position was $1.7M as of December 31, 2024. Pipeline progress included FDA clearances for expanded T2Bacteria and T2Candida Panel uses, with the T2Resistance Panel FDA submission expected in Q1 2025.CEO John Sperzel expressed optimism for 2025, citing the Cardinal Health agreement as a potential growth driver. The company aims to accelerate product sales, enhance operations, and advance its product pipeline, which includes three FDA Breakthrough Device-designated products.

T2 Biosystems announced preliminary Q4 and full-year 2024 results, reporting record product revenues of $2.3M for Q4 and $8.3M for 2024, up 37% and 23% YoY respectively. The company executed contracts for 27 T2Dx Instruments in 2024 and entered an exclusive U.S. agreement with Cardinal Health for sepsis product sales.T2 Biosystems expanded its international distribution network, extended its agreement with Vizient, and reduced debt by converting $30M of its term loan to common stock. The company's cash position was $1.7M as of December 31, 2024. Pipeline progress included FDA clearances for expanded T2Bacteria and T2Candida Panel uses, with the T2Resistance Panel FDA submission expected in Q1 2025.CEO John Sperzel expressed optimism for 2025, citing the Cardinal Health agreement as a potential growth driver. The company aims to accelerate product sales, enhance operations, and advance its product pipeline, which includes three FDA Breakthrough Device-designated products.