T2 Biosystems Announces Proposed Public Offering of Common Stock

T2 Biosystems, Inc. (Nasdaq:TTOO) announced on 5/30/18 that it is commencing an underwritten registered public offering of 5,650,000 shares of its common stock. T2 Biosystems also intends to grant the underwriters a 30-day option to purchase up to an additional 847,500 shares of its common stock.  All of the shares are being offered by T2 Biosystems. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

T2 is focused on delivering fast accurate diagnostics for patients who may be suffering from sepsis. Their bacteria panel (T2Bacteria) is described as the first and only FDA-cleared, direct from blood bacteria pathogen identification test that does not require blood culture. It is available in the US. The company also has a product for quick identification of candida in the bloodstream.

The T2Candida panel is the first and only FDA-cleared fungal pathogen detection panel that is performed direct from blood without the wait for blood culture. It delivers results in 3-5 hours vs 2-5 days for other tests. Providing the correct therapy quickly can be life saving in cases of sepsis.

T2 Biosystem shares down approximately 3% as of this writing