{"id":773771,"date":"2023-07-31T11:28:27","date_gmt":"2023-07-31T15:28:27","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/t2-biosystems-receives-extension-to-comply-with-nasdaq-listing-requirements\/"},"modified":"2023-07-31T11:28:27","modified_gmt":"2023-07-31T15:28:27","slug":"t2-biosystems-receives-extension-to-comply-with-nasdaq-listing-requirements","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/t2-biosystems-receives-extension-to-comply-with-nasdaq-listing-requirements\/","title":{"rendered":"T2 Biosystems Receives Extension to Comply with Nasdaq Listing Requirements"},"content":{"rendered":"
\n

LEXINGTON, Mass., July 31, 2023 (GLOBE NEWSWIRE) — T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, announced today that the Nasdaq Hearings Panel (the \u201cPanel\u201d) has granted the Company’s request for an extension through November 20, 2023, to evidence compliance with Nasdaq’s minimum bid price and market value of listed securities (\u201cMVLS\u201d) requirements, as set forth in Nasdaq Listing Rules 5550(a)(2) and (b)(2) (the \u201cRules\u201d).<\/p>\n

To satisfy the Rules, the Company must evidence a closing bid price of at least $1.00\u00a0per share and an MVLS of at least $35 million for a minimum of ten consecutive business days by November 20, 2023. If the Company is able to do so within the prescribed time period and satisfies all other applicable criteria for continued listing, the matter will be closed.<\/p>\n

During the extension period, the Company will continue to actively monitor its stock price and MVLS while it considers all options available to it and to take action, if necessary and as deemed appropriate by the Company\u2019s board, to remedy the deficiency, including potentially effecting a reverse stock split. There can be no assurance, however, that the Company will be able to timely comply with the terms of the Panel\u2019s decision.<\/p>\n

\n About T2 Biosystems:\u00a0
<\/strong>T2 Biosystems, a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, is dedicated to improving patient care and reducing the cost of care by helping clinicians effectively treat patients faster than ever before. T2 Biosystems\u2019 products include the T2Dx\u00ae Instrument, the T2Bacteria\u00ae Panel, the T2Candida\u00ae Panel, the T2Resistance\u00ae Panel, and the T2SARS-CoV-2\u2122 Panel and are powered by the proprietary T2 Magnetic Resonance (T2MR\u00ae) technology. T2 Biosystems has an active pipeline of future products, including the T2Biothreat\u2122 Panel, the Candida auris<\/em> test, and T2Lyme\u2122 Panel, as well as next-generation products for the detection of bacterial and fungal pathogens and associated antimicrobial resistance markers. For more information, please visit www.t2biosystems.com<\/a>.<\/p>\n

\n Forward-Looking Statements<\/strong>
\n
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements about the Company\u2019s ability to regain compliance with the listing requirements of the Nasdaq Capital Market, including its ability to effect a reverse share split, as well as statements that include the words \u201cexpect,\u201d \u201cintend,\u201d \u201cplan\u201d, \u201cbelieve\u201d, \u201cproject\u201d, \u201cforecast\u201d, \u201cestimate,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201canticipate,\u201d and similar statements of a future or forward looking nature. These forward-looking statements are based on management\u2019s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, (i) any inability to (a) realize anticipated benefits from commitments, contracts or products; (b) successfully execute strategic priorities; (c) bring products to market; (d) expand product usage or adoption; (e) obtain customer testimonials; (f) accurately predict growth assumptions; (g) realize anticipated revenues; (h) incur expected levels of operating expenses; or (i) increase the number of high-risk patients at customer facilities; (ii) failure of early data to predict eventual outcomes; (iii) failure to make or obtain anticipated FDA filings or clearances within expected time frames or at all; or (iv) the factors discussed under Item 1A. \u201cRisk Factors\u201d in the company\u2019s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the U.S. Securities and Exchange Commission, or SEC, on March 31, 2023, and other filings the company makes with the SEC from time to time. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management\u2019s estimates as of the date of this press release. While the company may elect to update such forward-looking statements at some point in the future, unless required by law, it disclaims any obligation to do so, even if subsequent events cause its views to change. Thus, no one should assume that the Company\u2019s silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements. These forward-looking statements should not be relied upon as representing the company\u2019s views as of any date subsequent to the date of this press release.<\/p>\n

\n Investor Contact:<\/strong>
\n
Philip Trip Taylor, Gilmartin Group
philip@gilmartinIR.com<\/a>
<\/a>415-937-5406<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

LEXINGTON, Mass., July 31, 2023 (GLOBE NEWSWIRE) — T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, announced today that the Nasdaq Hearings Panel (the \u201cPanel\u201d) has granted the Company’s request for an extension through November 20, 2023, to evidence compliance with Nasdaq’s minimum bid price and market value of listed securities (\u201cMVLS\u201d) requirements, as set forth in Nasdaq Listing Rules 5550(a)(2) and (b)(2) (the \u201cRules\u201d). To satisfy the Rules, the Company must evidence a closing bid price of at least $1.00\u00a0per share and an MVLS of at least $35 million for a minimum of ten consecutive business days by November 20, 2023. If the Company is able to do so within … <\/p>\n

Continue reading “T2 Biosystems Receives Extension to Comply with Nasdaq Listing Requirements”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-773771","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nT2 Biosystems Receives Extension to Comply with Nasdaq Listing Requirements - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/t2-biosystems-receives-extension-to-comply-with-nasdaq-listing-requirements\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"T2 Biosystems Receives Extension to Comply with Nasdaq Listing Requirements - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"LEXINGTON, Mass., July 31, 2023 (GLOBE NEWSWIRE) — T2 Biosystems, Inc. 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