T2 said that the panel will be commercially available in Europe in Q3, and added that it is in the midst of completing a pivotal trial in preparation of a submission to the FDA.
The firm remains on track to file for FDA clearance of its T2Bacteria panel, which its CEO called a "game changer" by mid-2017.
The company said its product revenues rose during the fourth quarter thanks to an increase in T2Candida panel sales due to increased patient testing.
The infectious disease diagnostics firm secured eight new contracts covering 18 hospital in the US and Europe during the fourth quarter.
The infectious disease diagnostics firm will initially receive $40 million from CRG, most of which will go towards paying down existing debt.
It was a rough year for biotech stocks — the Nasdaq Biotech Index fell 22 percent even as the Dow gained 13 percent and the Nasdaq gained 8 percent.
The GenomeWeb Index stayed relatively flat in November, underperforming the Dow and Nasdaq for a second month in a row.
A hospital study demonstrated an average total cost saving of around $25,000 for each patient with candidemia.
In addition to Illumina and Thermo Fisher, the investment bank reinitiated coverage of Bruker, Invitae, Agilent, Waters, and T2 Biosystems.
T2 and Allergan will develop a novel diagnostic panel for the detection of Gram-negative bacterial species and antibiotic resistance in patients with bacterial infections.
Consulting company McKinsey says diagnostics companies will have to combine genomic data analysis, electronic medical records, effective reimbursement strategies, and regulatory compliance in order to win.
A new report has found that researchers in Africa are still heavily dependent on funding from organizations in the US, Europe, and China, Nature News says.
An article in The Atlantic argues that the progress being made in science isn't keeping pace with the money and time being spent on research.
In Science this week: a CRISPR screen identifies sideroflexin 1 as a requisite component of one-carbon metabolism, and more.