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T2 Biosystems Reports Fourth Quarter and Full-Year 2017 Financial Results and Business Update
Mar. 07, 2018 08:26AM PST
Medical Device Investing
T2 Biosystems, (NASDAQ:TTOO), an emerging leader in the development and commercialization of innovative medical diagnostic products for critical unmet needs in healthcare, announced today operating highlights and financial results for the fourth quarter and year ended December 31, 2017. As quoted in the press release: Reported fourth quarter total revenue of $1.7 million, exceeded the …
T2 Biosystems, (NASDAQ:TTOO), an emerging leader in the development and commercialization of innovative medical diagnostic products for critical unmet needs in healthcare, announced today operating highlights and financial results for the fourth quarter and year ended December 31, 2017.
As quoted in the press release:
- Reported fourth quarter total revenue of $1.7 million, exceeded the high end of guidance and increased 87% year-over-year and was up 55% sequentially.
- Fourth quarter product revenue of $1.3 million, grew 125% year-over-year and was up 76% sequentially.
- Secured contracts in the fourth quarter with seven new hospitals, including two for the use of T2Bacteria® under a Research Use Only (RUO) program and one for a T2Bacteria contract in the EU.
- Increased targeted high-risk patients at newly contracted hospitals by 45,000, ahead of the 30,000 high-risk patients targeted in the prior quarter.
