TTOO - T2 Biosystems drops 4% on Q2 guidance and 2022 outlook
- T2 Biosystems ( NASDAQ: TTOO ) expects Q2 revenue to be $5.8M to $6.1M, including product revenue of $2.5M to $2.7M and research revenue of $3.3M to $3.4M.
- Raised $4.6M of net proceeds from the sale of 25.9M shares through the ATM facility during Q2 of 2022.
- Cash and cash equivalent as of June 30, 2022 are expected to be ~$14.3M.
- Company executed contracts for 12 T2Dx Instruments during Q2, consisting of 6 in the U.S. and 6 outside the U.S.
- Outlook 2022 : Company continues to expect full year 2022 total revenue of $28M to $31M, including product revenue of $16M to $17M and research contribution revenue of $12M to $14M. Company continues to expect to close 60 to 70 T2Dx Instrument contracts in 2022 and COVID-19 revenue to decrease from $9.5M to $3.5M.
- Shares -4.1% pre-market
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T2 Biosystems drops 4% on Q2 guidance and 2022 outlook