T2 Biosystems (TTOO) Stock: Why It Surged Over 18% Today

By Amit Chowdhry ● Sep 23, 2022
  • The stock price of T2 Biosystems (TTOO) increased by over 18% pre-market today. This is why.

The stock price of T2 Biosystems (TTOO) increased by over 18% pre-market today. 

Why: T2 Biosystems announced the execution of a territory exclusive distribution agreement in the Baltic Region, including Lithuania, Latvia, and Estonia. And under the terms of the agreement, T2 Biosystems will sell T2Dx Instruments, along with T2Bacteria, T2Candida and T2Resistance Panels through the distributor.

Details: The execution of this exclusive distribution agreement further expands T2 Biosystems’ commercialization. And epidemiology studies have shown that the Baltic region has a higher average incidence of sepsis per population than Western Europe. There have been national guidelines in the region to address the impact of sepsis. And the introduction of the T2Dx Instrument and sepsis panels into these countries will enable rapid detection of sepsis-causing pathogens and antibiotic resistance genes, in hours instead of days, enabling clinicians to achieve targeted therapy, faster.

KEY QUOTE:

“We are committed to expanding our commercialization worldwide and these new distribution agreements provide access to important markets in Lithuania, Latvia, and Estonia. We believe these three countries represent additional growth potential for our culture-independent rapid diagnostics and look forward to building lasting relationships with our newly-appointed distributor as we work to improve the quality of care for patients at risk of sepsis.”

— John Sperzel, Chairman and CEO of T2 Biosystems