According to a press release, this sale covers a multi-year deal for its T2Dx Instruments and sepsis test panels. The company says the initial order includes seven T2Dx Instruments, which are valued at $450,000. There’s also an option for another nine of these devices to be bought.
T2 Biosystems notes that this is a major win for the company. It represents the second-largest instrument sale in its history. The contract is set to last for three years, and there’s an option for the buyer to extend it another two years after that.
John Sperzel, chairman and CEO of T2 Biosystems, said the following in the news release:
“Our sepsis test revenue increased by 67% in Central Europe during the first quarter of 2023, compared to the prior year period, and we believe there is enormous potential to further expand the adoption of our sepsis products in Poland and throughout Europe.”
TTOO Stock Movement on Thursday
News of the sale has shares of TTOO stock seeing incredibly heavy trading today. As of this writing, more than 15 million shares of the stock have changed hands. That’s a massive surge compared to its daily average trading volume of about 6 million shares.
TTOO stock is up 28.7% as of Thursday morning.
There’s more stock market news traders will want to read about below!
We’ve got all of the latest stock market stories investors need to know about on Thursday! That includes the biggest pre-market stock movers for Thursday morning, the latest on Bed Bath & Beyond (OTCMKTS:BBBYQ) and Mullen Automotive (NASDAQ:MULN), and more. You can find all of that news at the following links!
More Thursday Stock Market News
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.