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.
The Hill reports President Donald Trump issued an executive directing federal agencies to cut the number of board and advisory committees they have.
The New York Times reports that researchers are combining tools to more quickly develop crops to feed a growing population and cope with shifting climates.
Scientists in Canada are looking to the UK's plan to sequence children with rare conditions for inspiration, the National Post reports.
In PNAS this week: copy number changes arose during polar bear evolution, genomic and transcriptomic analysis of the Siberian hamster, and more.