T2 to report prelims Oct. 12

 T2 Biosystems (NASDAQ:TTOO) announced today that it would report its preliminary quarterly earnings and provide business updates after the market closes on Oct. 12.

On the positive front, the Food and Drug Administration (FDA) issued a ruling in September that allowed T2 to sell its Biothreat Panel in America.

Indeed, the FDA “determined that T2’s Biothreat Panel was ‘Substantially Equivalent’ to an existing product that the agency has already approved.” Consequently, T2 was allowed to start marketing the test.

The company has reported that the diagnostic can determine whether individuals have biothreat pathogens in their blood. The test produces results in just three to five hours.

However, on the less positive side of things, healthcare investment firm CR Group (CRG) unloaded 13.13 million shares of TTOO on Sept. 27 and Sept. 28. The sale of the shares was reported on Oct. 3. However, “CRG still owns 7.14 million shares of T2 and tens of millions of more shares issuable through the conversion of Series B convertible preferred stock

https://investorplace.com/2023/10/dear-ttoo-stock-fans-mark-your-calendars-for-oct-12/