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- The Biomedical Advanced Research and Development Authority (BARDA) is providing an additional $4.4 million in funding for the multiple-year cost-share contract between BARDA and T2 Biosystems Inc (NASDAQ:TTOO)
- If all contract options are exercised, the total potential BARDA funding is $69.0 million.
- The additional funding will be used to advance the U.S. clinical trials for the T2Biothreat Panel & T2Resistance Panel and develop the Company's comprehensive panel to detect bloodstream infections and antimicrobial resistance.
- T2Biothreat Panel: Direct-from-blood test panel to simultaneously detect six biothreat pathogens.
- T2Resistance Panel: Direct-from-blood test panel to simultaneously detect thirteen antibiotic resistance genes from Gram-positive and Gram-negative bacterial pathogens.
- A comprehensive panel is designed to detect greater than 95% of all bloodstream infections caused by bacterial and Candida pathogens and antibiotic resistance markers in a single test with a time to result of approximately 3 hours.
- The Company initiated U.S. trials for both the T2Biothreat Panel and T2Resistance Panel in December 2021, enabling the potential filing of FDA submissions for both products during 2022.
- Price Action: TTOO shares are up 7.71% at $0.56 during the market session on the last check Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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