Benzinga | May 6, 2021 04:32PM EDT

Recap: T2 Biosystems Q1 Earnings

Shares of T2 Biosystems (NASDAQ:TTOO) rose in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were up 68.18% year over year to ($0.07), which were in line with the estimate of ($0.07).

Revenue of $6,956,000 up by 173.32% from the same period last year, which beat the estimate of $6,440,000.

Looking Ahead

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

T2 Biosystems hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: May 06, 2021

Time: 04:30 PM

ET Webcast URL: http://public.viavid.com/player/index.php?id=144509

Technicals

52-week high: $3.79

Company's 52-week low was at $0.48

Price action over last quarter: down 13.75%

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.