T2 Bio.systems launches COVID-19 molecular diagnostic test in U.S

T2 Biosystems has completed the validation of its T2SARS-CoV-2 Panel, its molecular test for COVID-19. Commercial launch is underway under emergency use authorization

The T2SARS-CoV-2 Panel runs on the Company’s T2Dx Instrument, an automated, random access system capable of performing seven tests simultaneously. Provides sample-to-answer results in less than two hours, utilizing a nasopharyngeal swab sample.

Additionally, the company announced interim Q2 earnings and estimates revenue in the range of $2.4M – $2.6M, compared to $1.8M in the prior year period.

At the end of the period, expects cash and cash equivalents of ~$36.5M.

(NASDAQ:TTOO) shares is up 33.9% to $1.70 in AH

https://seekingalpha.com/news/3587544-t2-biosystems-launches-covidminus-19-molecular-diagnostic-test-in-u-s