NEW YORK (GenomeWeb) – T2 Biosystems reported after the close of the market on Monday that its fourth quarter revenues fell nearly 10 percent, despite a 69 percent increase in product revenues driven by an increase in sales of its T2Candida panel.

For the three-month period ended Dec. 31, T2's revenues fell to $910,000 from $1.0 million in the same period the year before, missing the Wall Street consensus estimate for revenues of $1.4 million.

Product revenues rose to $579,000 from $343,000 in Q4 2015. Meanwhile, the company reported research revenues of $331,000.

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