We have added T2 Biosystems to the Select Portfolio. T2 is well positioned to receive FDA approval on their sepsis diagnostic sometime in Q1. This appears to be a disruptive diagnostic, that will take significant market share over time.
We are optimistic about approval due to the strength of the clinical results to date. In addition, the FDA reviewer is the same reviewer as the Company had for their Candida approval, and the FDA is familiar with their T2Dx instrument. Approval is imminent in our opinion.
In addition, T2 recently announced two new partnerships, one with CDC and another with Cidara Therapeutics. These deals demonstrate the strength of their platform and we expect to see more partnerships announced going forward.
The Company does have a significant cash burn, however they recently completed a significant financing of over $17M, which provides them with enough cash to last well into 2019. Meanwhile, sales appear to be hitting an inflection point and, post approval, we anticipate rapidly increasing revenue for T2.
Disclaimers & Disclosures: For a full list of disclaimers and disclosures, please visit: www.tailwindsresearch.com/disclaimer/