Why T2 Biosystems Stock Fell Today
Portfolio Pulse from Ryan Gustafson
T2 Biosystems, Inc. (NASDAQ:TTOO) shares fell by over 26% on Tuesday following a surge on Monday after the FDA cleared the company's biothreat panel for commercial distribution. The company can now start marketing and selling the T2Biothreat Panel, a direct-from-blood molecular diagnostic test, in the U.S. market.
September 19, 2023 | 9:52 pm
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T2 Biosystems shares fell by over 26% following FDA clearance for its biothreat panel. The company can now market and sell the T2Biothreat Panel in the U.S.
The stock price of T2 Biosystems fell by over 26% after a surge following the FDA clearance for its biothreat panel. This indicates that the market had already priced in the positive news of the FDA clearance and the subsequent selling led to the price drop. The company's ability to now market and sell the T2Biothreat Panel in the U.S. could potentially boost its revenues in the future, but the immediate impact on the stock price was negative.
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IMPORTANCE 80
RELEVANCE 100