T2 Biosystems announced that the COVID-19 test kits that has been in development was licensed and approved this weekend. The test kits are set to be in emergency rooms and walk-in clinics around the country by the end of next week. Source: Reuters
Next to Citius Pharmaceuticals there may not be a safer bet when it comes to picking a bio-tech company to invest in.
T2 Biosystems COVID-19 test kits are expected to be the most accurate COVID-19 testing kit available on the market. Not only did the test prove to be more accurate than other emergency testing kits, but the COVID-19 testing kit from T2 Biosystems can identify COVID-19 in a human up to 24 hours earlier than any other test. Experts in the field are confident these new T2 Biosystems testing kits will become the standard when it comes for testing a suspected individual with COVID-19, at least for now.
“The test, a highly sensitive and accurate novel assay, provides definitive results quickly,” said David Perlin, CSO and senior vice president at CDI. “It combines in a new format the best elements found in the [US Centers for Disease Control and Prevention] and [The World Health Organization] diagnostics,” Perlin also said. “With our proprietary technology and its detection capability, we believe we are well positioned to address an urgent healthcare need for rapid diagnostic testing,” he added. – GenomeWeb
Initial first quarter revenue projections are already predicting to grow 22 to 44 percent over the next year.
“For the quarter ending March 31, T2 estimates first quarter total revenue will be in the range of $2.2 million to $2.6 million compared to $1.8 million for the first quarter of 2019. The consensus Wall Street revenue estimate for Q1 is $3.1 million.” – Source
If every healthcare clinic and hospital across the country will be using T2 Biosystems COVID-19 testing kits, it is fair to say of all the medical and biopharmaceutical companies who have been in the COVID-19 race, T2 Biosystems is the company that has the most tangible success in all of this.
T2 Biosystems currently has the resources to manufacture up to 100,000 COVID-19 test kits per month.
With the popularity and effectiveness of the test kits, investors are confident that a government grant will be coming the companies way to help aid in the production of the test kits.