OverviewSuggest Edit

T2 Biosystems is a developer of a next-generation medical diagnostic platform that enables rapid and accurate diagnostic tests of all types on a single instrument. With two FDA-cleared products targeting sepsis – the cause of one out of two hospital deaths - and a range of additional products in development, T2 Biosystems is an emerging leader in the field of in vitro diagnostics. Its initial development efforts target sepsis, hemostasis, bacteria and Lyme disease, which are areas of significant unmet medical need.

The Company is utilizing its proprietary T2 Magnetic Resonance platform to develop a broad set of applications aimed at lowering mortality rates, improving patient outcomes and reducing the cost of healthcare by helping medical professionals make targeted treatment decisions earlier.

TypePublic
Founded2006
HQLexington, MA, US
Websitet2biosystems.com
Employee Ratings3
Overall CultureF

Latest Updates

Employees (est.) (Dec 2019)151(-1%)
Job Openings17
Revenue (FY, 2020)$18.1 M(+118%)
Share Price (Nov 2021)$0.7(-2%)
Cybersecurity ratingAMore
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Key People/Management at T2 Biosystems

John Sperzel

John Sperzel

Chairman and Chief Executive Officer
Thierry Bernard

Thierry Bernard

Director
Aparna Ahuja

Aparna Ahuja

Chief Medical Officer
Michael Gibbs

Michael Gibbs

Vice President and General Counsel
John W. Cumming

John W. Cumming

Director
David Elsbree

David Elsbree

Director
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T2 Biosystems Office Locations

T2 Biosystems has offices in Lexington, Wilmington, Wien, Sofia and in 11 other locations
Lexington, MA, US (HQ)
101 Hartwell Ave
Wilmington, MA, US
231 Andover St
Wien, AT
Divischgasse 4
Sofia, BG
Boulevard "Akademik Ivan Evstratiev Geshov " 2Е
Zagreb, HR
Paljetkova ul. 2
Les Ulis, FR
7 Avenue de Scandinavie
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T2 Biosystems Financials and Metrics

T2 Biosystems Revenue

T2 Biosystems's revenue was reported to be $18.13 m in FY, 2020
USD

Revenue (Q1, 2021)

7.0m

Net income (Q1, 2021)

(10.7m)

EBIT (Q1, 2021)

(9.7m)

Market capitalization (12-Nov-2021)

121.2m

Closing stock price (12-Nov-2021)

0.7

Cash (31-Mar-2021)

10.7m

EV

166.6m
T2 Biosystems's current market capitalization is $121.2 m.
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Revenue

119.0k2.8m4.1m4.7m10.5m8.3m18.1m

Revenue growth, %

2264%45%

Cost of goods sold

1.7m6.9m12.0m

Gross profit

1.1m(2.8m)(7.4m)
Quarterly
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Revenue

188.0k564.0k1.0m1.1m990.0k1.1m941.0k956.0k1.1m2.3m3.9m2.5m1.8m1.8m1.7m2.5m2.6m5.2m7.0m

Cost of goods sold

3.0k829.0k1.0m1.8m1.9m1.6m2.0m2.1m3.3m

Gross profit

185.0k220.0k70.0k(791.0k)(810.0k)(686.0k)(1.0m)(998.0k)(962.0k)

Gross profit Margin, %

98%21%6%(80%)(75%)(73%)(108%)(90%)(42%)
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Cash

73.8m73.7m73.5m41.8m50.8m11.0m16.8m

Accounts Receivable

201.0k369.0k327.0k467.0k1.8m2.8m5.1m

Prepaid Expenses

708.0k1.3m1.4m2.7m

Inventories

115.0k683.0k820.0k1.3m2.7m3.6m3.6m
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Net Income

(31.4m)(45.3m)(54.8m)(62.4m)(51.2m)(59.0m)(46.8m)

Depreciation and Amortization

691.0k1.5m2.3m2.9m2.4m2.2m

Inventories

(1.2m)(568.0k)(110.0k)(1.1m)(914.0k)441.0k

Accounts Payable

(208.0k)177.0k(61.0k)(314.0k)121.0k3.0m(1.7m)
USDQ2, 2014

Financial Leverage

-0.2 x
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T2 Biosystems Operating Metrics

FY, 2016

Facilities

2

Patent Applications

50

Patents Issued

50
Show all operating metrics

T2 Biosystems Cybersecurity Score

Cybersecurity ratingPremium dataset

A

90/100

SecurityScorecard logo

T2 Biosystems Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

CSRHub logo

T2 Biosystems Online and Social Media Presence

Embed Graph

T2 Biosystems Company Culture

  • Overall Culture

    F

    38/100

  • CEO Rating

    F

    50/100

  • Compensation

    D

    55/100

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T2 Biosystems News and Updates

T2 Biosystems Announces Continued International Expansion into Taiwan with Exclusive Distribution Agreement

LEXINGTON, Mass., Nov. 19, 2021 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens, today announced the execution of a territory exclusive distribution agreement in Taiwan.  

T2 Biosystems to Participate in the Canaccord Genuity Virtual MedTech, Diagnostics and Digital Health & Services Forum

LEXINGTON, Mass., Nov. 15, 2021 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens, today announced plans to participate in the upcoming Canaccord Genuity Virtual MedTech, Diagnostics and Digital Health & Services Forum.

T2 Biosystems Participates in the World Anti-Microbial Resistance Congress

Leading rapid diagnostics company to present on critical link between antimicrobial resistance and sepsis treatment outcomes Leading rapid diagnostics company to present on critical link between antimicrobial resistance and sepsis treatment outcomes

T2 Biosystems Hires Industry Veteran Brett Giffin as Chief Commercial Officer

LEXINGTON, Mass., Nov. 04, 2021 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens, today announced the appointment of Brett Giffin as its Chief Commercial Officer, effective November 8, 2021.

T2 Biosystems to Report Third Quarter 2021 Financial Results on November 4, 2021

LEXINGTON, Mass., Oct. 22, 2021 (GLOBE NEWSWIRE) -- T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens, announced today that it will report financial results for the third quarter of 2021 after market close on Thursday, November 4, 2021. Company manageme…

T2 Biosystems Announces Distribution Agreements in Key Asia-Pacific Markets

Expands International Commercialization with Initial Shipment of T2Dx Instruments to Asia Expands International Commercialization with Initial Shipment of T2Dx Instruments to Asia
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T2 Biosystems Blogs

T2Bacteria Identifies Causative Pathogen in a Critically Ill Patient with a Respiratory Infection

Discussion This case highlights the benefit of T2Bacteria’s rapid bacterial species identification, which enabled early identification of the causative pathogen in a critically-ill, immunocompromised patient. Bacterial infections commonly occur following successful treatment of viral infections.  Th…

Utilizing T2Candida Result to Impact Appropriate Therapy

Discussion This case highlights the benefit of T2Candida’s rapid fungal species identification, which allowed for the continuation of appropriate antifungal therapy as well as the discontinuation of unnecessary broad-spectrum antibiotics, resulting in clinical improvement. Presentation A 67-year-old…

T2Bacteria Result Used to Alter Therapy

Discussion This case highlights not only T2Bacteria’s ability of rapid identification but also the capability to detect the causative organism and use the result to de-escalate therapy. Presentation An elderly patient presented to the ED with a day-long history of fever, shaking, suprapubic pain, vo…

T2Bacteria Positive while Cultures Remained Negative

Discussion This case highlights the benefit of the T2Bacteria Panel’s ability to provide species identification in the presence of antimicrobial therapy rapidly.  Using T2Bacteria enabled the identification of E.coli in a patient on inadequate therapy for a urinary tract infection (UTI). Presentatio…

Rapid T2Bacteria Result Helps Prevent Potential Complications due to Premature Discharge

Discussion This case highlights the benefit of rapid species identification with the T2Bacteria Panel and the potential prevention of additional sequelae with a premature discharge from the ED. Presentation An elderly patient was admitted with a two-day history of right lower quadrant pain, fever, a…

High Negative Predictive Value Enables De-escalation of Therapy

Discussion This case highlights the benefits of using the high negative predictive value (NPV) of the T2Bacteria Panel for early de-escalation of therapy, mainly when using antimicrobial agents that can commonly cause acute kidney injury. Presentation A 72 year-old-patient presented to the ER with p…
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T2 Biosystems Frequently Asked Questions

  • When was T2 Biosystems founded?

    T2 Biosystems was founded in 2006.

  • Who are T2 Biosystems key executives?

    T2 Biosystems's key executives are John Sperzel, Thierry Bernard and Aparna Ahuja.

  • How many employees does T2 Biosystems have?

    T2 Biosystems has 151 employees.

  • What is T2 Biosystems revenue?

    Latest T2 Biosystems annual revenue is $18.1 m.

  • What is T2 Biosystems revenue per employee?

    Latest T2 Biosystems revenue per employee is $120.1 k.

  • Who are T2 Biosystems competitors?

    Competitors of T2 Biosystems include California Laboratory Services, HemoCue and Visiting Physicians Association.

  • Where is T2 Biosystems headquarters?

    T2 Biosystems headquarters is located at 101 Hartwell Ave, Lexington.

  • Where are T2 Biosystems offices?

    T2 Biosystems has offices in Lexington, Wilmington, Wien, Sofia and in 11 other locations.

  • How many offices does T2 Biosystems have?

    T2 Biosystems has 16 offices.