Benzinga | Nov 4, 2020 05:26PM EST

T2 Biosystems: Q3 Earnings Insights

Shares of T2 Biosystems (NASDAQ:TTOO) fell 10% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share increased 74.19% over the past year to ($0.08), which were in line with the estimate of ($0.08).

Revenue of $5,245,000 up by 212.76% year over year, which beat the estimate of $4,980,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

The upcoming fiscal year's revenue expected to be between $19,000,000 and $20,000,000.

Conference Call Details

Date: Nov 04, 2020

Time: 04:30 PM

ET Webcast URL: http://public.viavid.com/player/index.php?id=141974

Recent Stock Performance

Company's 52-week high was at $3.15

Company's 52-week low was at $0.23

Price action over last quarter: down 13.21%

Company Overview

T2 Biosystems Inc provides rapid in vitro diagnostic tests to hospitals and laboratories. Its core technology is T2 Magnetic Resonance (T2MR) technology, which can detect a variety of molecular targets directly from whole blood. T2MR technology enables the T2Dx system, which is fully automated from patient sample to result for its panels focused on bacterial and fungal infections that could cause sepsis, and its pipeline panel for Lyme disease.