T2 Biosystems Secures Additional BARDA Funding To Develop Blood Test Panels To Detect Sepsis-Causing Pathogens

T2 Biosystems Secures Additional BARDA Funding To Develop Blood Test Panels To Detect Sepsis-Causing Pathogens
  • 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 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.

Posted In: BriefsNewsPenny StocksHealth CareFinancingMoversTrading IdeasGeneral