The shares of T2 Biosystems Inc. (NASDAQ: TTOO) rose 16.44% to trade at $0.1041 at the last check after the company announced an exclusive distribution. Thursday’s close of $0.09 for TTOO’s stock represents a loss of -11.83%.
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TTOO has announced which distribution?
Today, T2 Biosystems (TTOO) announced that it has entered into an exclusive distribution agreement for the Baltic Region. Lithuania, Latvia, and Estonia are among the territories included.
- The distributor will sell T2Dx Instruments, T2Bacteria, T2Candida, and T2Resistance Panels under the agreement.
- The signing of this exclusive distribution contract broadens the marketing of TTOO.
- The average incidence of sepsis per population is greater in the Baltic area than in Western Europe, according to epidemiology research.
- To combat the effects of sepsis, the area has national guidelines.
- The T2Dx Instrument and sepsis panels will be made available in these nations, allowing for the rapid identification of sepsis-causing organisms and antibiotic resistance genes in hours as opposed to days, allowing doctors to deliver targeted medication more quickly.
How the agreement will work for TTOO?
- These new distribution agreements provide T2 Biosystems access to significant markets in Lithuania, Latvia, and Estonia as part of its commitment to growing its commercialization globally.
- These three nations provide significant development possibilities for the business’s culture-neutral quick diagnostics, and as it strives to raise the standard of care for patients at risk for sepsis, TTOO will forge enduring ties with its recently appointed distributor.
- T2 Biosystems intended to investigate the technological and financial viability of creating a quick molecular diagnostic test for monkeypox virus identification.
- An uncommon condition known as monkeypox is brought on by infection with the monkeypox virus, a member of the orthopoxvirus family of viruses that also includes smallpox.
What recently has TTOO been investigating?
The TTOO team has proven that it has the scientific know-how necessary to create additional tests on its exclusive platform, including swab and direct-from-blood testing. T2 Biosystems (TTOO) is optimistic that its platform can be used to produce a molecular diagnostic test for the monkeypox virus. Due to the urgency of the monkeypox virus and the potential for worldwide transmission, TTOO has spoken with the FDA and CDC and is investigating the possibility of creating and marketing a monkeypox viral test.