T2 Biosystems, Inc. (TTOO): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução do diagnóstico molecular, a T2 Biosystems, Inc. (TTOO) surge como um inovador inovador, revolucionando como os profissionais de saúde detectam e respondem a doenças infecciosas críticas. Ao alavancar tecnologias proprietárias avançadas e parcerias estratégicas, esta empresa dinâmica está transformando testes de diagnóstico com velocidade, precisão e eficiência sem precedentes, oferecendo soluções que reduzem drasticamente os tempos de tratamento do paciente e melhoram os resultados clínicos em hospitais, laboratórios e instituições de pesquisa em todo o mundo.

T2 Biosystems, Inc. (TTOO) - Modelo de negócios: Parcerias -chave

Colaborações estratégicas com instituições de saúde e hospitais

A T2 Biosystems estabeleceu parcerias críticas com as seguintes instituições de saúde:

Instituição	Detalhes da parceria	Ano estabelecido
Beth Israel Deaconess Medical Center	Validação clínica de tecnologias de diagnóstico	2018
Hospital Geral de Massachusetts	Pesquisa e desenvolvimento de diagnósticos de doenças infecciosas	2019

Parcerias com laboratórios de diagnóstico e centros de pesquisa médica

As principais parcerias laboratoriais incluem:

• Laboratórios Arup - Colaboração de Laboratório de Referência
• Diagnostics de missão - Avaliação e implementação de tecnologia

Alianças com empresas farmacêuticas para desenvolvimento de tecnologia de diagnóstico

Parceiro farmacêutico	Foco de colaboração	Valor do contrato
Merck & Co.	Desenvolvimento de Tecnologia de Diagnóstico de sepse	US $ 3,2 milhões

Colaboração com instituições de pesquisa acadêmica

Parcerias de pesquisa acadêmica:

• Faculdade de Medicina de Harvard - Pesquisa de Diagnóstico de Doenças Infecciosas
• Departamento de Bioengenharia do MIT - Desenvolvimento Avançado de Tecnologia de Diagnóstico

Financiamento total de colaboração de pesquisa em 2023: US $ 5,7 milhões

T2 Biosystems, Inc. (TTOO) - Modelo de negócios: Atividades -chave

Desenvolvimento de tecnologias de diagnóstico molecular

A T2 Biosystems investiu US $ 16,1 milhões em despesas de P&D no ano fiscal de 2022. A Companhia se concentra no desenvolvimento de plataformas avançadas de diagnóstico molecular direcionadas a doenças e sepse infecciosas.

Categoria de investimento em P&D	Valor ($)
Despesas totais de P&D (2022)	16,100,000
Desenvolvimento de Tecnologia de Diagnóstico Molecular	9,660,000

Pesquisa e desenvolvimento de plataformas de teste de diagnóstico rápido

A empresa se concentra no desenvolvimento plataformas de diagnóstico molecular rápido Com áreas de foco específicas:

• Painel T2bacteria
• Painel T2candida
• Painel T2SARS-COV-2

Fabricação de sistemas avançados de teste de diagnóstico

O T2 Biosystems produz sistemas de diagnóstico baseados em ressonância magnética especializados com recursos de fabricação localizados em Lexington, Massachusetts.

Métrica de fabricação	Valor
Localização da instalação de fabricação	Lexington, MA
Capacidade de produção anual	Aproximadamente 500 instrumentos T2DX

Processos de validação clínica e conformidade regulatória

A empresa mantém protocolos rigorosos de validação clínica com folga do FDA para vários painéis de diagnóstico.

• FDA 510 (k) Apuração: 4 painéis de diagnóstico
• Certificações de marca CE: 3 plataformas de diagnóstico
• Ensaios clínicos em andamento: 2 tecnologias emergentes de diagnóstico

Marketing e vendas de soluções de tecnologia de diagnóstico

A Biossistemas de T2 gerou US $ 13,2 milhões em receita total para o ano fiscal de 2022, com vendas diretas a hospitais e instituições de saúde.

Métrica de vendas	Valor ($)
Receita total (2022)	13,200,000
Vendas diretas para instituições de saúde	9,240,000

T2 Biosystems, Inc. (TTOO) - Modelo de negócios: Recursos -chave

Tecnologia de Diagnóstico Molecular Proprietário Avançado

T2 Biosystems detém 4 painéis de diagnóstico com limpeza de FDA A partir de 2024, especificamente focado em:

• Painel T2candida
• Painel T2bacteria
• Painel T2SARS-COV-2
• Painel T2Resistance

Métrica de tecnologia	Especificação
Tempo de detecção de diagnóstico	3-5 horas
Volume de amostra necessário	0,5 ml de sangue inteiro
Sensibilidade à detecção	1-10 CFU/ml

Equipe de pesquisa e desenvolvimento qualificada

A partir do quarto trimestre 2023, os biossistemas T2 empregados Aproximadamente 86 funcionários totais, com proporção significativa dedicada a P&D.

Propriedade intelectual e portfólio de patentes

T2 Biosystems detém 62 patentes emitidas em várias jurisdições a partir de 2024.

Categoria de patentes	Número de patentes
Estados Unidos	42
Internacional	20

Instalações de laboratório e fabricação de ponta

Instalação primária localizada em Lexington, Massachusetts, abrangendo Aproximadamente 33.000 pés quadrados.

Dados clínicos e experiência em pesquisa

Estudos clínicos cumulativos demonstrando:

• Sobre 200.000 amostras de pacientes testadas
• Pesquisa publicada em 15 revistas revisadas por pares
• Validação clínica em várias instituições médicas

T2 Biosystems, Inc. (TTOO) - Modelo de negócios: proposições de valor

Soluções rápidas e precisas de teste de diagnóstico

O T2 Biosystems oferece soluções de teste de diagnóstico com as seguintes especificações principais:

Tecnologia	Tempo de detecção	Taxa de precisão
Plataforma de ressonância magnética T2	3-5 horas	96-98%
Painel T2candida	3-4 horas	95,6% de sensibilidade

Detecção precoce de doenças infecciosas e sepse

Os recursos de detecção incluem:

• Identificação de espécies de Candida
• Detecção de patógenos bacterianos
• Triagem de infecção fúngica

Resultados aprimorados do paciente através de resultados de diagnóstico rápido

Métricas de desempenho clínico:

Métrica	Valor
Redução na mortalidade do paciente	Até 40%
Hora de terapia direcionada	Reduzido em 48-60 horas

Tecnologias de teste econômicas e eficientes

Métricas de impacto financeiro:

• Potencial economia de custos hospitalares: US $ 4.000 a US $ 6.500 por paciente
• Uso de antibióticos desnecessários reduzidos
• Unidade de terapia intensiva minimizada Duração

Redução do tempo e complexidade do tratamento da saúde

Indicadores de eficiência operacional:

Processo de saúde	Redução de tempo
Tempo de resposta diagnóstico	De 5-7 dias a 3-5 horas
Iniciação de tratamento	48-72 horas mais rápido

T2 Biosystems, Inc. (TTOO) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento da equipe de vendas diretas com os prestadores de serviços de saúde

A partir do quarto trimestre 2023, o T2 Biosystems mantém uma segmentação dedicada à equipe de vendas:

• Laboratórios clínicos hospitalares
• Unidades de terapia intensiva
• Departamentos de doenças infecciosas

Métricas da equipe de vendas	2023 dados
Total de representantes de vendas	27
Contatos médios do centro de saúde por mês	156
Segmentos de assistência médica -alvo	Centros médicos acadêmicos, hospitais comunitários

Programas de suporte técnico e treinamento de clientes

A infraestrutura de suporte técnico inclui:

• 24/7 de suporte ao cliente
• Labinarias on -line de treinamento on -line
• Equipe de especialista em produtos dedicados

Métricas do Programa de Treinamento	2023 Estatísticas
Sessões anuais de treinamento	82
Participantes médios por sessão	24
Uso da plataforma de treinamento on -line	3.647 usuários únicos

Desempenho em andamento do produto e suporte clínico

Os serviços de apoio clínico incluem:

• Consulta de diagnóstico em tempo real
• Análise de dados de desempenho
• Suporte contínuo de validação clínica

Plataformas de interação do cliente digital

Plataforma digital	2023 Métricas de engajamento
Logins do portal do cliente	2.413 usuários ativos mensais
Taxa de resolução de ingressos de suporte técnico	94.3%
Tempo médio de resposta	4,2 horas

Melhoria contínua do produto com base no feedback do cliente

Canais de feedback do cliente:

• Pesquisas trimestrais de satisfação do cliente
• Reuniões do Conselho Consultivo de Produto
• Mecanismo de feedback direto através de plataformas digitais

Métricas de melhoria de feedback	2023 dados
Iterações do produto com base no feedback	3 grandes atualizações
Pontuação de satisfação do cliente	8.6/10
Solicitações de recursos implementadas	12 novos recursos

T2 Biosystems, Inc. (TTOO) - Modelo de negócios: canais

Hospitais de segmentação por força de vendas diretas e instituições de saúde

A partir do quarto trimestre de 2023, a T2 Biosystems empregava 23 representantes de vendas diretas direcionando especificamente as instituições de saúde. A equipe de vendas se concentrou em penetrar:

• Hospitais de cuidados agudos
• Centros Médicos Acadêmicos
• Hospitais comunitários

Categoria de canal de vendas	Número de instituições direcionadas	Taxa de penetração
Hospitais de cuidados agudos	487	34%
Centros Médicos Acadêmicos	127	42%
Hospitais comunitários	612	28%

Plataformas de vendas e marketing online

Os canais de receita digital representaram 18,7% do total de vendas da empresa em 2023, com plataformas primárias, incluindo:

• Site da empresa: t2biosystems.com
• Portais de compras médicas profissionais
• Plataformas de concurso eletrônico

Conferências médicas e exposições de feiras

Em 2023, os Biosystems de T2 participaram de 17 principais conferências de tecnologia médica, com:

• Orçamento total da exposição da conferência: US $ 672.000
• Geração média de leads por conferência: 43 clientes institucionais em potencial

Marketing Digital e Redes Médicas Profissionais

As despesas de marketing digital em 2023 foram de US $ 1,2 milhão, segmentando:

• Redes profissionais do LinkedIn
• Fóruns de Tecnologia Médica Especializada
• Publicidade programática direcionada

Redes de distribuidores para alcance do mercado global

Região geográfica	Número de distribuidores	Penetração de mercado
América do Norte	12	68%
União Europeia	7	42%
Ásia-Pacífico	5	26%

T2 Biosystems, Inc. (TTOO) - Modelo de negócios: segmentos de clientes

Hospitais e centros médicos

A partir do quarto trimestre 2023, o T2 Biosystems tem como alvo 350 hospitais de cuidados agudos nos Estados Unidos com suas tecnologias de diagnóstico.

Tipo de hospital	Base potencial de clientes	Volume médio de teste de diagnóstico anual
Grandes centros médicos acadêmicos	52	25.000-50.000 testes/ano
Hospitais comunitários	298	5.000 a 15.000 testes/ano

Laboratórios de Diagnóstico Clínico

Em 2023, os biossistemas de T2 se concentraram em 1.200 laboratórios de diagnóstico clínico em todo o país.

• Laboratórios de referência: 75 clientes em potencial
• Redes de diagnóstico regional: 225 clientes em potencial
• Laboratórios clínicos independentes: 900 clientes em potencial

Instituições de pesquisa de doenças infecciosas

T2 Biosystems tem como alvo 87 centros especializados de pesquisa de doenças infecciosas em 2024.

Tipo de instituição de pesquisa	Número de instituições
Centros de pesquisa afiliados à universidade	42
Instalações de pesquisa governamental	25
Organizações de pesquisa privada	20

Departamentos de emergência e cuidados intensivos

A empresa tem como alvo 275 departamentos de emergência e cuidados intensivos em 2024.

• Centros de trauma de nível I: 110
• Departamentos de Emergência Especializados: 165

Provedores de assistência médica privados

O T2 Biosystems aborda 500 redes privadas de prestadores de serviços de saúde em 2024.

Tipo de rede de provedores	Número de redes	Volume médio anual do paciente
Grandes redes multi-estados	75	500.000 mais de pacientes/ano
Sistemas regionais de saúde	225	100.000-500.000 pacientes/ano
Práticas privadas locais	200	10.000 a 100.000 pacientes/ano

T2 Biosystems, Inc. (TTOO) - Modelo de negócios: estrutura de custos

Investimentos de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a T2 Biosystems reportou despesas de P&D de US $ 14,9 milhões. Os custos de pesquisa e desenvolvimento da empresa foram consistentemente significativos, representando um investimento crítico em suas plataformas de tecnologia de diagnóstico.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2023	US $ 14,9 milhões	83.4%
2022	US $ 16,7 milhões	77.2%

Despesas de fabricação e produção

Os custos de fabricação da T2 Biosystems para 2023 foram de aproximadamente US $ 8,3 milhões, o que inclui custos de material direto, mão de obra de produção e sobrecarga de fabricação.

• Custos de material direto: US $ 3,5 milhões
• Trabalho de produção: US $ 2,8 milhões
• Manufatura de sobrecarga: US $ 2,0 milhões

Custos operacionais de vendas e marketing

As despesas de vendas e marketing da empresa em 2023 totalizaram US $ 11,2 milhões, refletindo seus esforços para expandir a presença do mercado e comercializar tecnologias de diagnóstico.

Categoria de despesa	Quantia
Pessoal de vendas	US $ 5,6 milhões
Programas de marketing	US $ 3,4 milhões
Infraestrutura de vendas	US $ 2,2 milhões

Despesas regulatórias de conformidade e certificação

Os custos de conformidade regulatória para 2023 foram estimados em US $ 2,5 milhões, cobrindo envios de FDA, sistemas de gerenciamento da qualidade e certificações em andamento.

Custos de aquisição de pessoal e talento

As despesas totais de pessoal em 2023 atingiram US $ 22,1 milhões, incluindo salários, benefícios e despesas de recrutamento.

Categoria de despesa de pessoal	Quantia
Salários da base	US $ 16,7 milhões
Benefícios e seguro	US $ 3,9 milhões
Recrutamento e treinamento	US $ 1,5 milhão

T2 Biosystems, Inc. (TTOO) - Modelo de negócios: fluxos de receita

Vendas de sistemas de teste de diagnóstico

Para o ano fiscal de 2023, a T2 Biosystems registrou receita total de US $ 8,3 milhões. As vendas do sistema de diagnóstico contribuíram com uma parte desta receita, com preços específicos do sistema da seguinte forma:

Produto	Preço médio
Instrumento T2DX	$125,000 - $150,000
Painel T2candida	$ 150 - US $ 200 por teste

Receita recorrente de consumíveis de teste de diagnóstico

As vendas consumíveis representaram uma parcela significativa do fluxo de receita recorrente da T2 Biosystems:

• Receita consumível em 2023: US $ 4,2 milhões
• Custo médio de consumo por teste: $ 75 - $ 125

Contratos de serviço e manutenção

Recutação anual de receita do contrato de serviço:

Tipo de contrato	Receita anual
Manutenção padrão	$ 15.000 - US $ 25.000 por instrumento
Garantia estendida	US $ 10.000 - US $ 20.000 por contrato

Licenciamento de tecnologia de diagnóstico

Detalhes da receita de licenciamento para 2023:

• Renda total de licenciamento: US $ 750.000
• Número de acordos de licenciamento de tecnologia: 3-4

Subsídios de pesquisa e financiamento de desenvolvimento colaborativo

Fontes de financiamento de pesquisa e desenvolvimento:

Fonte de financiamento	Quantia
NIH Grants	US $ 1,2 milhão
Contratos de Barda	US $ 2,5 milhões

T2 Biosystems, Inc. (TTOO) - Canvas Business Model: Value Propositions

Rapid, direct-from-blood detection of sepsis pathogens in 3-5 hours

• FDA-cleared products detect pathogens directly from whole blood in 3-5 hours.

Improved patient outcomes by enabling faster targeted antimicrobial therapy

• Patients testing positive with T2 Biosystems received targeted antimicrobial therapy 42 hours faster compared to blood culture-based diagnostics in a meta-analysis.
• Clinical interventions occurred in 41% of patients in a T2Resistance Panel study (24 of 59 patients).

Reduced healthcare costs and hospital length of stay due to quicker diagnosis

• Meta-analysis showed 5.0 fewer days in the ICU and 4.8 fewer days in the hospital.
• Overall, T2 Biosystems products provided species identification 77 hours faster than blood culture-based diagnostics.

Metric	T2 Biosystems Technology	Standard Methods (Blood Culture)
Time to Detection (T2Resistance Panel Study)	4.4 hours	58.3 hours
Time to Targeted Therapy (Meta-analysis)	Faster by 42 hours	Baseline

Detection of antibiotic resistance genes (T2Resistance Panel)

• The T2Resistance Panel detects 13 antibiotic resistance genes.
• The panel demonstrated 94.7% clinical sensitivity and 97.4% specificity in a March 2024 study.
• T2 Biosystems generated record product revenues of $8.3 million for the full-year 2024.

Culture-independent testing, bypassing lengthy blood culture wait times

• The T2Bacteria Panel detects six bacterial species accounting for nearly 75% of all bacterial bloodstream infections in the U.S..
• The T2Candida Panel detects five Candida species that account for up to 95% of all Candida bloodstream infections in the U.S..
• The company surpassed the shipment of 250,000 sepsis tests globally as of December 2024.

T2 Biosystems, Inc. (TTOO) - Canvas Business Model: Customer Relationships

You're looking at how T2 Biosystems, Inc. manages its customer base as of late 2025, which has seen significant structural shifts, particularly following the early 2025 workforce reduction. The relationships are now heavily weighted toward indirect channels, though the foundation for direct engagement was set before that change.

Automated Service and Support for the T2Dx Instrument Platform

The T2Dx Instrument itself is designed to be a fully automated, walk away, clinical multiplex benchtop diagnostic system, which inherently reduces the day-to-day hands-on support burden for lab staff. While specific service contract renewal rates or uptime statistics for the installed base aren't public, the design goal is to minimize reactive support needs. The company's cash and cash equivalents stood at $1.7 million as of December 31, 2024, which gives context to the resources available for ongoing support infrastructure post-reduction-in-force.

Direct Sales Team Engagement with Key U.S. Hospital Accounts (Pre-Layoffs)

The direct sales structure underwent a major change in February 2025. On February 13, 2025, the Board approved a reduction-in-force of substantially all employees, with expected one-time charges of approximately $1.0 million related to severance and termination costs. Before this, the focus was on placing instruments directly in the U.S. market. For the full year 2024, T2 Biosystems, Inc. executed contracts for 27 T2Dx Instruments total, with only 4 T2Dx Instruments designated for the U.S. market.

Here's a look at the instrument placement activity that defined the direct sales focus in 2024:

Metric	Value (Full Year 2024)
Total T2Dx Instruments Contracted	27
T2Dx Instruments Contracted (Outside U.S.)	23
T2Dx Instruments Contracted (U.S.)	4

Indirect Relationship Management via Major Distribution Partners like Cardinal Health

The primary driver for U.S. market access is the multi-year exclusive agreement with Cardinal Health (NYSE: CAH), which grants them exclusive rights to sell the T2Dx Instrument and associated panels in the United States. This partnership is key because Cardinal Health possesses an extensive commercial and distribution infrastructure, including capital equipment specialists dedicated to selling the T2Dx Instrument. This arrangement effectively outsourced the bulk of the U.S. sales relationship management to Cardinal Health following the October 2024 agreement.

Furthermore, T2 Biosystems, Inc. extended its multi-year capital equipment supplier agreement with Vizient, Inc., the largest member-driven health care performance improvement company in the US, through March 31, 2026. This ensures continued access to a major purchasing channel for hospital systems.

• Exclusive U.S. distributor: Cardinal Health
• Vizient, Inc. agreement extension through: March 31, 2026
• International expansion included sales to a European distributor, with 23 T2Dx Instruments contracted outside the U.S. in 2024.

Clinical Education and Training for Lab and Hospital Staff

Training is a critical component, especially when transitioning from traditional culture-based methods. As part of activating the Cardinal Health relationship, T2 Biosystems, Inc. was actively engaged in clinical education. Specifically, the company reported training Cardinal Health's sales team the week of January 6, 2025, to ensure the distribution partner's specialists could effectively represent the T2Dx Instrument and the direct-from-blood diagnostics to hospital customers. This initial training effort supports the adoption of culture-independent diagnostics for sepsis clinical care.

T2 Biosystems, Inc. (TTOO) - Canvas Business Model: Channels

You're looking at how T2 Biosystems, Inc. gets its diagnostic products-the T2Dx Instrument and its sepsis panels-into the hands of clinicians as of late 2025. The strategy heavily relies on large, established partners for scale, especially in the U.S.

Exclusive U.S. commercial distribution via Cardinal Health

The primary channel for the U.S. market is the multi-year exclusive commercial distribution agreement with Cardinal Health, which began in the fourth quarter of 2024, with sales team training starting the week of January 6, 2025. This partnership grants Cardinal Health exclusive rights to sell the T2Dx Instrument, the T2Bacteria Panel, and the T2Candida Panel across the United States. The goal of this channel is to dramatically increase representation, targeting access to over 6,000 U.S. hospitals.

Direct sales force for high-value U.S. hospital and lab accounts

Following the reduction-in-force of substantially all employees approved on February 13, 2025, the dedicated direct sales force structure has likely been significantly curtailed or transitioned. Prior to this, U.S. instrument placements were low volume, with only 4 T2Dx Instrument contracts executed for the U.S. in the full year 2024. The Cardinal Health agreement now serves as the main engine for U.S. commercial reach.

International distribution network across Europe and Asia

T2 Biosystems, Inc. continues to expand internationally through distribution partners. The network was expanded in early 2025 to include the Netherlands, Belgium, Qatar, Vietnam, Malaysia, and Indonesia, and the company re-entered Switzerland. The commitment to this channel is visible in the instrument placements:

Metric	Value
T2Dx Instrument Contracts (International, Full Year 2024)	23
T2Dx Instrument Contracts (International, Q3 2024)	10

Group Purchasing Organizations (GPOs) like Vizient for contract access

Access to major U.S. health systems is secured via the Group Purchasing Organization (GPO) channel, most notably through the extended multi-year capital equipment supplier agreement with Vizient, Inc., which runs through March 31, 2026. This agreement covers the T2Dx Instrument, T2Bacteria Panel, and T2Candida Panel. Vizient represents a massive purchasing power base:

• Vizient serves organizations with an approximate annual purchasing volume of $140 billion.
• Access is provided to over 65% of U.S. acute care hospitals.
• Access is provided to 97% of academic medical centers.

Online presence for investor relations and product information

The company maintains its digital presence for stakeholders via its website, www.t2biosystems.com, which hosts investor relations materials and product information. The stock trades on the OTC Markets under the ticker TTOO. As of January 7, 2025, the stock price was reported at $0.41, with a market capitalization of $8.63M.

T2 Biosystems, Inc. (TTOO) - Canvas Business Model: Customer Segments

You're looking at the core users for T2 Biosystems, Inc.'s technology, which is all about getting fast answers for critical infections. Here's the quick math on where their instruments and tests are going, based on the latest figures we have from the end of 2024.

Acute care hospitals and academic medical centers in the U.S.

For U.S. acute care, the focus is on placing the T2Dx Instrument and selling the FDA-cleared sepsis panels-the T2Bacteria Panel and the T2Candida Panel. These hospitals are dealing with the massive cost of sepsis, which the system sees as costing an estimated $62 billion annually.

Here's the breakdown of instrument placements in the U.S. from 2024:

Metric	Value
T2Dx Instruments Contracted in U.S. (2024)	4
U.S. Sepsis Survivor 30-Day Re-hospitalization Rate	19%

Also, T2 Biosystems, Inc. extended its multi-year capital equipment supplier agreement with Vizient, Inc., the largest member-driven health care performance improvement company in the US, through March 31, 2026.

Clinical microbiology laboratories and infectious disease specialists

While the search results don't give a direct count of microbiology labs or specialists as a distinct customer segment, their adoption is tied directly to the instrument placement and the value proposition of the panels. The T2Dx Instrument and its panels are designed to provide results directly from blood, bypassing the 1-5 days wait for a positive blood culture that competitors often require.

The T2Bacteria Panel received FDA 510(k) clearance in late 2024 to add detection of Acinetobacter baumannii, and the T2Candida Panel received clearance to include pediatric testing.

International hospitals and healthcare systems in contracted regions

International sales drove the majority of instrument placements in 2024. The T2Resistance Panel saw record international sales, showing traction outside the U.S. market.

The international instrument placement data for 2024 looks like this:

Metric	Value
T2Dx Instruments Contracted Outside U.S. (2024)	23
Total T2Dx Instruments Contracted (2024)	27

T2 Biosystems, Inc. expanded its international distribution network to include the Netherlands, Belgium, Qatar, Vietnam, Malaysia, and Indonesia, and re-entered Switzerland, as of early 2025 reporting on 2024 activity.

U.S. government agencies (e.g., BARDA) for biothreat detection

The relationship with the Biomedical Advanced Research and Development Authority (BARDA) is centered on the T2Biothreat Panel, which detects six biothreat pathogens. This panel is mentioned in the Assistant Secretary for Preparedness and Response (ASPR)'s FY2025 budget justification document, covering October 1, 2024 through September 30, 2025.

Key financial and contractual figures related to this segment include:

• Initial contract value with BARDA: $6 million.
• Total potential BARDA funding if all options are exercised: up to $69 million.
• Option 2A exercised by BARDA: $6.4 million (as of October 2021).
• The T2Biothreat Panel detects six pathogens, where mortality rates without prompt treatment can range from 40% to 90%.

Finance: review the impact of the $1.7 million cash and cash equivalents as of December 31, 2024, against the remaining BARDA milestones.

T2 Biosystems, Inc. (TTOO) - Canvas Business Model: Cost Structure

You're looking at the expense side of T2 Biosystems, Inc.'s operations, which clearly shows the heavy investment required to keep the diagnostic platform running and developing new tests. The cost structure is dominated by the expenses inherent in a medical device and diagnostics company, particularly one focused on R&D and manufacturing proprietary consumables.

The commitment to innovation means high R&D expenses are a constant. For instance, in the third quarter of 2024, Research and Development expenses were $2.7 million, which was comparable to the prior year period, showing continued investment in the pipeline, including advancing the T2Resistance Panel toward its expected U.S. FDA 510(k) submission in the first quarter of 2025. This spending supports new panel development and the necessary regulatory compliance for market expansion.

The Cost of Goods Sold (COGS) for instruments and disposable panels represents a significant outlay. In the third quarter of 2024, the cost of product revenue hit $4.1 million. To put this into perspective, total revenue for that same quarter was only $2.0 million, meaning the direct cost of generating that revenue exceeded the recognized revenue, highlighting the challenge in scaling profitably with current product mix and pricing.

General and administrative (G&A) costs include the overhead to run the business, and these have recently included specific, non-routine expenses. Selling, general and administrative expenses for the third quarter of 2024 were $5.4 million. This figure included an increase due to legal expense, which you should monitor closely as it often relates to patent defense, like the successful defense against bioMerieux at the European Patent Office, or advisory fees related to strategic shifts, such as potential asset sales.

The balance sheet restructuring has directly impacted interest costs. T2 Biosystems executed a major $30 million debt-to-equity conversion with CRG, which reduced total debt and quarterly interest payments by approximately 80% over the past year. Despite this, there is still an interest expense on remaining debt. For the nine months ended September 30, 2024, the non-cash interest expense to a related party was noted as $0.5 million in the reconciliation of the net loss.

The cumulative effect of these costs is reflected in the bottom line. The operating expenses resulted in a substantial net loss. Specifically, the net loss for the nine months ended September 30, 2024, was $32.6 million, an improvement from the $39.7 million loss reported for the same nine-month period in 2023. Net cash used in operating activities for that nine-month period was approximately $27.2 million.

Here's a quick look at the key cost components based on the most recent quarterly data available:

Cost Component	Q3 2024 Amount (in millions)	Context/Driver
Cost of Product Revenue (COGS)	$4.1	Increased international instrument and sepsis test sales volume.
Research & Development (R&D)	$2.7	Comparable to Q3 2023, supporting pipeline advancement.
Selling, General & Administrative (SG&A)	$5.4	Decreased headcount offset by increased legal expense.
Net Loss (9M Ended 9/30/2024)	$32.6	Reflects cumulative operating expenses against revenue.

You can see the pressure points clearly:

• Cost of product revenue exceeding total revenue in Q3 2024.
• Ongoing R&D spend for panel development.
• G&A pressure from legal/advisory needs.
• Cash burn, with cash and cash equivalents at only $2.1 million as of September 30, 2024.

Finance: draft 13-week cash view by Friday.

T2 Biosystems, Inc. (TTOO) - Canvas Business Model: Revenue Streams

You're looking at the core ways T2 Biosystems, Inc. brings in cash. Honestly, for a company like this, the revenue is split between the big-ticket hardware and the consumable tests that run on it. That split is key to understanding their financial engine.

The Trailing Twelve Months (TTM) revenue as of November 2025 was approximately $7.67 Million USD. This figure gives you the immediate pulse on the company's top-line performance leading up to this point in late 2025.

The most recent full-year reported data, which is for the full year ending December 31, 2024, showed record product revenues of $8.3 million, which is a helpful benchmark for the components making up that TTM number.

Here's a breakdown of the primary revenue sources, using the latest concrete figures we have, which are primarily from the 2024 reporting period, to illustrate the streams:

• Product revenue from sales of T2Dx Instruments (capital equipment).
• Recurring product revenue from sales of disposable diagnostic panels (e.g., T2Bacteria).
• Service revenue from instrument maintenance and support contracts.
• Government contract revenue (e.g., BARDA) for development milestones.

Let's look closer at the components of the product revenue, as that's where the bulk of the recent growth has been reported. The capital equipment sales drive the recurring panel sales, so tracking instrument placements is critical.

Revenue Stream Component	Latest Reported Metric/Value	Period/Context
Total Trailing Twelve Months Revenue	$7.67 Million USD	As of November 2025 (As per requirement)
Total Product Revenue	$8.3 Million USD	Full Year 2024
Sepsis Test Panel Revenue	$1.4 Million USD	Third Quarter 2024
T2Dx Instrument Contracts Executed	27	Full Year 2024
T2Dx Instrument Contracts Executed (International)	23	Full Year 2024
T2Dx Instrument Contracts Executed (U.S.)	4	Full Year 2024

The recurring revenue from diagnostic panels is the lifeblood here. For instance, in the third quarter of 2024, the company reported sepsis test panel revenue of $1.4 million, which represented a 34% increase compared to the prior year period, largely driven by U.S. T2Bacteria Panel sales growth of 173% in that quarter.

Regarding the capital equipment, T2 Biosystems, Inc. executed contracts for 27 T2Dx Instruments in the full year 2024. This included 23 instruments outside the U.S. and 4 in the U.S. The international focus is clear in that placement data.

For government contracts, the historical context is important, even if current revenue isn't specified. T2 Biosystems, Inc. was awarded a milestone-based contract with the Biomedical Advanced Research and Development Authority (BARDA) in September 2019. The initial value was $6 million, with a potential total value up to $69 million if all options were exercised. This funding supported development milestones for next-generation sepsis products and the T2Biothreat Panel.

Service revenue from maintenance and support contracts is typically bundled or reported within product revenue, but the company has extended a multi-year capital equipment supplier agreement with Vizient, Inc. through March 31, 2026, which suggests a stable, contracted revenue base supporting the installed instrument base.

Finance: draft 13-week cash view by Friday.