The exclusive agreement covers the three former Baltic states of the old Soviet Union, where sepsis is more common than in the rest of Europe. T2 says its tests can detect sepsis quickly, so therapy starts sooner, reducing both costs and death.
Even with its latest boost, T2 opens Sept. 23 with a market capitalization of under $40 million. It had sales of $28 million in 2021 but lost $49 million, 31 cents per share. The overnight gain took the stock price to only 12 cents/share.
What’s the Story?
Sepsis is a life-threatening overreaction to an infection that hits 1.7 million Americans each year, kills roughly 20% of them, and is responsible for one of every three deaths in a hospital.
While T2’s home page sports several big hospital customers, most have found its tests fail to add clinical value. They don’t measure antibiotic resistance or change clinical practice. The company continues to roll out new versions of its tests, however, and looks to test for other pathogens such as Lyme Disease.