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T2 Biosystems: 2Q Earnings Snapshot

July 30, 2019

LEXINGTON, Mass. (AP) _ T2 Biosystems Inc. (TTOO) on Tuesday reported a loss of $15.6 million in its second quarter.

The Lexington, Massachusetts-based company said it had a loss of 35 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 32 cents per share.

The diagnostics company posted revenue of $1.8 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $2 million.

T2 Biosystems expects full-year revenue in the range of $8.7 million to $9.6 million.

In the final minutes of trading on Tuesday, the company’s shares hit $1.44. A year ago, they were trading at $5.84.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TTOO at https://www.zacks.com/ap/TTOO

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