T2 Biosystems unveils T2Lyme launch plans, business updates

T2 Biosystems announced plans for the T2Lyme Panel commercial launch and provided recent business updates. Recent Highlights: Announced plans to commercialize the T2Lyme Panel in the third quarter of 2024 as a laboratory developed test without the need to be run on the T2Dx Instrument providing throughput improvements and cost of goods advantages. Announced a new publication in Journal of Clinical Microbiology highlighting the clinical benefits and performance of the T2Resistance Panel. Engaged Dr. Robin Robinson as a strategic advisor to aid in commercialization of the T2Biothreat Panel. Received extension from the Nasdaq Hearings Panel to regain compliance with $35 million Market Value of Listed Securities requirement as set forth in Nasdaq Listing Rule 5550(b)(2) on or before May 20, 2024. “Recently, we have made significant progress on our three corporate priorities that we believe positions us for a strong future. Specifically, the anticipated launch of the T2Lyme Panel in the third quarter, new data validating the clinical benefits of the T2Resistance Panel and increasing commercial support and U.S. Government engagement on the T2Biothreat Panel each represent potential material growth catalysts,” stated John Sperzel, Chairman and CEO of T2 Biosystems. “We continue to prioritize our Nasdaq listing and advance the review of strategic alternatives which are both intended to increase shareholder value.”