T2 Biosystems

The T2Resistance Panel, which runs on the T2Dx instrument, detects 13 genes conferring antimicrobial resistance directly from whole blood in three to five hours.

Due to a ransom cyberattack on its information technology systems, the firm reported full revenue but only preliminary earnings estimates.

The distributor, Bionuclear Puerto Rico, will give T2 access to approximately 64 hospitals in Puerto Rico and the US Virgin Islands.   

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.