TTOO - T2 Biosystems falls 5% on public offering

• T2 Biosystems ( NASDAQ: TTOO ) is trading ~5% lower after the bell after it announced underwritten public offering of its common stock and warrants.
• The company also separately announced positive data from the U.S. clinical evaluation for the T2Biothreat Panel used to detect six biothreat pathogens, including anthrax, tularemia, glanders, melioidosis, plague, and typhus.
• "We have now shifted our attention to filing the submission with FDA for U.S. regulatory clearance and subsequently pursuing commercial sales, with the goal of protecting Americans from the threat of deliberate or naturally occurring outbreaks of biothreat pathogens," the company said.
• The panel can detect pathogens within 4 hours.
• The project has been funded by the U.S. Department of Health and Human Services, Administration for Strategic Preparedness and Response, Biomedical Advanced Research and Development Authority (BARDA)
• Press Release

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