secwatch.observer — SEC 8-K summary
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Issuer:     T2 Biosystems, Inc. (—)
CIK:        0001492674
Form:       8-K
Filed at:   2024-05-06T23:59:59+00:00
Accession:  0001193125-24-132060
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.02, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

T2 Biosystems Q1 sepsis revenue up 25% YoY to $2.1M; debt cut 79% to $10.5M
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- Q1 sepsis product revenue $2.1M (+25% YoY); net loss $13.5M ($2.66/sh) vs $18M loss prior year.
- Converted $30M of term loan debt for equity; total debt reduced from $50.5M to $10.5M (79% reduction).
- Reiterated FY2024 sepsis product revenue guidance of $10M-$11M (49%-64% growth).
- Cash $6.2M at March 31, 2024; raised $2.2M via ATM in Q1.
- FDA 510(k) clearance for expanded T2Bacteria Panel; T2Lyme and T2Resistance panels advancing toward 3Q 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1492674/000119312524132060/0001193125-24-132060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1492674/000119312524132060/d793513d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-132060

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer