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T2 Biosystems Receives BARDA Contract to Fight Antimicrobial Resistance, Shares Up More than 88%

Streetwise Reports
0 Comments|September 12, 2019

This healthcare diagnostics stock rose more than 88% on Wednesday following the award of a BARDA contract that could be worth up to $69 million.

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On Wednesday morning, T2 BioSystems Inc. (TTOO:NASDAQ) announced receipt of funding from the U.S. Department of Health and Human Service's Biomedical Advanced Research and Development Authority (BARDA) to advance technology for diagnosis and treatment of bloodstream infections.

The initial phase of the milestone-based contract is worth $6 million, with a potential value of up to $69 million if all contract options are exercised.

The goal of the contract is to, "enable a significant expansion of the company's current portfolio of diagnostics for sepsis-causing pathogens and antibiotic-resistance genes," and to "reduce the growing threat of antimicrobial resistance."

The Massachusetts-based medical diagnostics company uses a unique T2 Magnetic Resonance detection technology to identify sepsis-causing pathogens as quickly as possible to enable faster treatment. T2 Biosystems states that its "blood tests provide actionable results in just 3-5 hours. The only other way to identify the species-specific diagnosis requires a blood culture, which can take 1-5 days or more."

Shares reached $2.69 during Wednesday trading, up more than 88% from the prior day's close of $1.43.


Disclosure:
1) Kevin Jaillet compiled this article for Streetwise Reports LLC and is an employee of Streetwise Reports. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professional for medical advice.


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