Shares of T2 Biosystems, Inc. (NASDAQ: TTOO) skyrocketed 42.39% to $0.13 on Tuesday. This surge in share value follows a significant announcement by the company regarding the second-largest sale of sepsis-driven T2Dx® Instruments in its history.
The breakthrough sale was made possible through T2 Biosystems’ distribution partner, Biomedica Poland. Biomedica Poland successfully secured a multi-year contract for T2Dx Instruments and sepsis test panels, which are set to be deployed in selected hospitals across Poland. The initial order includes seven T2Dx Instruments, valued at over $450,000. Moreover, there is potential for an additional nine instruments to be sold and deployed in an increased number of hospitals in Poland during the second half of 2023. The contract, initially secured for a three-year term, has the possibility of being extended for an additional two years.
Poland, the fifth most populous member state in the European Union, with over 40 million people, boasts more than 1,200 hospitals. A 2020 survey conducted on Polish hospitals highlighted the need for improvement in sepsis and septic shock management during the early stages. The survey revealed mortality rates ranging from 46% to 54% among ICU patients with severe sepsis, and ICU stays lasting from 8 to 13 days.
T2 Biosystems’ introduction of the T2Dx Instrument and sepsis test panels is a groundbreaking development. The instruments provide rapid detection of sepsis-causing pathogens and antibiotic-resistance genes within a remarkably short time frame of 3-5 hours. This technological advancement has the potential to enable clinicians to administer faster targeted antimicrobial therapy, reduce hospital stays, and ultimately enhance patient outcomes.
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