T2 Biosystems Inc

NASDAQ:TTOOUnited States

NASDAQ FSI:D. Deficient (Issuer failed to meet continued listing requirements)

Nov 14, 2024

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• -- Earnings Flash (TTOO) T2 BIOSYSTEMS Reports Q3 Revenue $2M, from 4:08PM ET on Thursday Nov 14, 2024 by MT Newswires

  4:08PM ET on Thursday Nov 14, 2024 by MT Newswires
  Companies Mentioned: TTOO
  04:08 PM EST, 11/14/2024 (MT Newswires) -- ...

• -- Earnings Flash (TTOO) T2 BIOSYSTEMS Reports Q3 Loss $-0.57, from 4:08PM ET on Thursday Nov 14, 2024 by MT Newswires

  4:08PM ET on Thursday Nov 14, 2024 by MT Newswires
  Companies Mentioned: TTOO
  04:08 PM EST, 11/14/2024 (MT Newswires) -- ...

• *DJ T2 Biosystems 3Q Loss/Shr 57c >TTOO, from 4:05PM ET on Thursday Nov 14, 2024 by Dow Jones

  4:05PM ET on Thursday Nov 14, 2024 by Dow Jones
  Companies Mentioned: TTOO
  
  415-937-5406
  T2 Biosystems, Inc. Consolidated Balance Sheets (In thousands, except share and per share data) (Unaudited) September 30, December 31, 2024 2023 --------------- -------------- Assets Current assets: Cash and cash equivalents $ 2,083 $ 15,689 Accounts receivable, net 2,033 1,420 Inventories 3,825 4,819 Prepaid expenses and other current assets 1,845 3,261 ----------- ---------- Total current assets 9,786 25,189 Property and equipment, net 1,477 1,658 Operating lease right-of-use assets 6,268 7,395 Restricted cash 551 551 Other assets -- 4 ----------- ---------- Total assets $ 18,082 $ 34,797 =========== ========== Liabilities and stockholders' deficit Current liabilities: Notes payable to related party $ 11,922 $ 41,284 Accounts payable 4,210 1,527 Accrued expenses and other current liabilities 4,627 4,905 Accrued final payment fee on Term Loan with related party 1,306 4,807 Operating lease liability 1,724 1,616 Derivative liability related to Term Loan with related party 347 1,554 Warrant liabilities 66 235 Deferred revenue 233 224 ----------- ---------- Total current liabilities 24,435 56,152 Operating lease liabilities, net of current portion 5,298 6,598 Deferred revenue, net of current portion 59 83 Total liabilities 29,792 62,833 Commitments and contingencies Stockholders' deficit Preferred stock, $0.001 par value; 10,000,000 shares authorized: Series B Convertible Preferred Stock, 0 shares designated on September 30, 2024, 0 and 93,297 shares issued and outstanding to related party on September 30, 2024 and December 31, 2023, respectively -- -- Common stock, $0.001 par value; 400,000,000 shares authorized; 18,760,092 and 4,058,381 shares issued and outstanding on September 30, 2024 and December 31, 2023, respectively 18 4 Additional paid-in capital 605,182 556,256 Accumulated deficit (619,910) (584,296) ----------- ---------- Total stockholders' deficit (11,710) (28,036) ----------- ---------- Total liabilities and stockholders' deficit $ 18,082 $ 34,797 =========== ========== T2 Biosystems, Inc. Consolidated Statements of Operations and Comprehensive Loss (In thousands, except share and per share data) (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, ------------------------ ------------------------ 2024 2023 2024 2023 ----------- ---------- ----------- ---------- Revenue: Product revenue $ 1,985 $ 1,472 $ 5,998 $ 5,091 Contribution revenue -- -- -- 423 ---------- --------- ---------- --------- Total revenue 1,985 1,472 5,998 5,514 Costs and expenses: Cost of product revenue 4,101 3,925 10,996 12,789 Research and development 2,667 2,663 9,749 10,984 Selling, general and administrative 5,378 5,980 17,589 19,575 Impairment of property and equipment -- 2,511 -- 2,511 ---------- --------- ---------- --------- Total costs and expenses 12,146 15,079 38,334 45,859 ---------- --------- ---------- --------- Loss from operations (10,161) (13,607) (32,336) (40,345) Other income (expense): Interest expense to related party (370) (1,119) (2,027) (4,182) Change in fair value of derivative related to Term Loan with related party 77 184 1,207 436 Change in fair value of warrant liabilities 321 (930) 169 4,958 Other, net 16 47 373 (604) ---------- --------- ---------- --------- Total other income (expense) 44 (1,818) (278) 608 ---------- --------- ---------- --------- Net loss $ (10,117) $ (15,425) $ (32,614) $ (39,737) ========== ========= ========== ========= Net loss per share -- basic and diluted $ (0.57) $ (3.45) $ (2.63) $ (21.79) ========== ========= ========== ========= Weighted-average number of common shares used in computing net loss per share -- basic and diluted 17,892,606 4,477,321 12,381,110 1,823,485 ========== ========= ========== =========
  

• T2 Biosystems Announces Third Quarter 2024 Financial Results, from 4:05PM ET on Thursday Nov 14, 2024 by Dow Jones

  4:05PM ET on Thursday Nov 14, 2024 by Dow Jones
  Companies Mentioned: TTOO
  
  415-937-5406
  T2 Biosystems, Inc. Consolidated Balance Sheets (In thousands, except share and per share data) (Unaudited) September 30, December 31, 2024 2023 --------------- -------------- Assets Current assets: Cash and cash equivalents $ 2,083 $ 15,689 Accounts receivable, net 2,033 1,420 Inventories 3,825 4,819 Prepaid expenses and other current assets 1,845 3,261 ----------- ---------- Total current assets 9,786 25,189 Property and equipment, net 1,477 1,658 Operating lease right-of-use assets 6,268 7,395 Restricted cash 551 551 Other assets -- 4 ----------- ---------- Total assets $ 18,082 $ 34,797 =========== ========== Liabilities and stockholders' deficit Current liabilities: Notes payable to related party $ 11,922 $ 41,284 Accounts payable 4,210 1,527 Accrued expenses and other current liabilities 4,627 4,905 Accrued final payment fee on Term Loan with related party 1,306 4,807 Operating lease liability 1,724 1,616 Derivative liability related to Term Loan with related party 347 1,554 Warrant liabilities 66 235 Deferred revenue 233 224 ----------- ---------- Total current liabilities 24,435 56,152 Operating lease liabilities, net of current portion 5,298 6,598 Deferred revenue, net of current portion 59 83 Total liabilities 29,792 62,833 Commitments and contingencies Stockholders' deficit Preferred stock, $0.001 par value; 10,000,000 shares authorized: Series B Convertible Preferred Stock, 0 shares designated on September 30, 2024, 0 and 93,297 shares issued and outstanding to related party on September 30, 2024 and December 31, 2023, respectively -- -- Common stock, $0.001 par value; 400,000,000 shares authorized; 18,760,092 and 4,058,381 shares issued and outstanding on September 30, 2024 and December 31, 2023, respectively 18 4 Additional paid-in capital 605,182 556,256 Accumulated deficit (619,910) (584,296) ----------- ---------- Total stockholders' deficit (11,710) (28,036) ----------- ---------- Total liabilities and stockholders' deficit $ 18,082 $ 34,797 =========== ========== T2 Biosystems, Inc. Consolidated Statements of Operations and Comprehensive Loss (In thousands, except share and per share data) (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, ------------------------ ------------------------ 2024 2023 2024 2023 ----------- ---------- ----------- ---------- Revenue: Product revenue $ 1,985 $ 1,472 $ 5,998 $ 5,091 Contribution revenue -- -- -- 423 ---------- --------- ---------- --------- Total revenue 1,985 1,472 5,998 5,514 Costs and expenses: Cost of product revenue 4,101 3,925 10,996 12,789 Research and development 2,667 2,663 9,749 10,984 Selling, general and administrative 5,378 5,980 17,589 19,575 Impairment of property and equipment -- 2,511 -- 2,511 ---------- --------- ---------- --------- Total costs and expenses 12,146 15,079 38,334 45,859 ---------- --------- ---------- --------- Loss from operations (10,161) (13,607) (32,336) (40,345) Other income (expense): Interest expense to related party (370) (1,119) (2,027) (4,182) Change in fair value of derivative related to Term Loan with related party 77 184 1,207 436 Change in fair value of warrant liabilities 321 (930) 169 4,958 Other, net 16 47 373 (604) ---------- --------- ---------- --------- Total other income (expense) 44 (1,818) (278) 608 ---------- --------- ---------- --------- Net loss $ (10,117) $ (15,425) $ (32,614) $ (39,737) ========== ========= ========== ========= Net loss per share -- basic and diluted $ (0.57) $ (3.45) $ (2.63) $ (21.79) ========== ========= ========== ========= Weighted-average number of common shares used in computing net loss per share -- basic and diluted 17,892,606 4,477,321 12,381,110 1,823,485 ========== ========= ========== =========