What's Going On With T2 Biosystems Stock Now?
Portfolio Pulse from Erica Kollmann
T2 Biosystems, Inc. (NASDAQ:TTOO) has successfully amended and extended its term loan agreement with CRG Servicing LLC, providing balance sheet flexibility. The amendment extends the interest-only period and the maturity date by one year to Dec. 31, 2025, and reduces the minimum cash covenant from $5 million to $500,000. Despite this, T2 Biosystems' shares remain down by over 75% over the last month.
October 24, 2023 | 5:09 pm
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T2 Biosystems has amended its loan agreement with CRG Servicing, providing more financial flexibility. However, the company's shares remain significantly down over the past month.
The amendment of the loan agreement provides T2 Biosystems with more financial flexibility, which could be seen as a positive development. However, the company's shares have been significantly down over the past month, indicating that there are other factors at play affecting the stock's performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100