$TTOO
T2 Biosystems, Inc. Stock $ttoo

$ttoo Overview Financials Valuation SEC Filings Company Website

2017 Q3 Form 10-Q Financial Statement

#000119312517247725 Filed on August 04, 2017

Income Statement

Concept	2017 Q3	2017 Q2	2016 Q4
Revenue	$1.108M	$956.0K	$910.0K
YoY Change	2.21%	-3.43%	-9.9%
Cost Of Revenue	$2.106M	$1.989M	$2.171M
YoY Change	11.19%	11.68%	138.57%
Gross Profit	-$998.0K	-$1.033M	-$1.261M
YoY Change	23.21%	30.59%	-1361.0%
Gross Profit Margin	-90.07%	-108.05%	-138.57%
Selling, General & Admin	$5.559M	$5.759M	$5.795M
YoY Change	-6.34%	-6.25%	15.67%
% of Gross Profit
Research & Development	$5.880M	$7.112M	$5.851M
YoY Change	13.08%	11.67%	-11.88%
% of Gross Profit
Depreciation & Amortization	$760.0K	$740.0K	$650.0K
YoY Change	35.71%	37.04%	32.65%
% of Gross Profit
Operating Expenses	$11.44M	$12.87M	$11.65M
YoY Change	2.73%	2.87%	0.05%
Operating Profit	-$12.44M	-$13.90M	-$12.91M
YoY Change	4.12%	4.52%	11.85%
Interest Expense	-$1.718M	-$1.654M	-$1.680M
YoY Change	95.23%	105.47%	229.41%
% of Operating Profit
Other Income/Expense, Net	$79.00K	$102.0K	$40.00K
YoY Change	97.5%	64.52%	100.0%
Pretax Income	-$14.08M	-$15.46M	-$14.55M
YoY Change	10.17%	10.04%	20.95%
Income Tax
% Of Pretax Income
Net Earnings	-$14.08M	-$15.46M	-$14.55M
YoY Change	10.11%	10.04%	20.94%
Net Earnings / Revenue	-1270.4%	-1616.74%	-1598.79%
Basic Earnings Per Share
Diluted Earnings Per Share	-$448.1K	-$504.2K	-$477.2K
COMMON SHARES
Basic Shares Outstanding	30.76M shares	30.59M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2017 Q3	2017 Q2	2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$52.90M	$46.13M	$73.49M
YoY Change	-29.57%	-8.14%	-0.23%
Cash & Equivalents	$52.90M	$46.13M	$73.49M
Short-Term Investments
Other Short-Term Assets	$750.0K	$660.0K	$820.0K
YoY Change	-21.88%	17.86%	-2.38%
Inventory	$1.250M	$1.014M	$803.0K
Prepaid Expenses
Receivables	$440.0K	$981.0K	$327.0K
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$55.35M	$48.79M	$75.44M
YoY Change	-28.84%	-7.07%	-0.15%
LONG-TERM ASSETS
Property, Plant & Equipment	$13.85M	$14.51M	$13.59M
YoY Change	1.61%	13.18%	27.48%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$480.0K	$218.0K	$281.0K
YoY Change	-18.64%	-63.05%	-54.68%
Total Long-Term Assets	$14.33M	$14.99M	$14.13M
YoY Change	0.77%	11.77%	25.27%
TOTAL ASSETS
Total Short-Term Assets	$55.35M	$48.79M	$75.44M
Total Long-Term Assets	$14.33M	$14.99M	$14.13M
Total Assets	$69.68M	$63.78M	$89.57M
YoY Change	-24.26%	-3.24%	3.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$990.0K	$1.660M	$962.0K
YoY Change	10.0%	107.5%	-21.79%
Accrued Expenses	$5.510M	$4.701M	$4.908M
YoY Change	9.33%	4.24%	17.98%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$1.420M	$1.370M	$1.270M
YoY Change	-87.65%	-87.11%	-71.46%
Total Short-Term Liabilities	$10.25M	$10.47M	$9.885M
YoY Change	-44.74%	-40.11%	-19.31%
LONG-TERM LIABILITIES
Long-Term Debt	$40.09M	$39.91M	$39.50M
YoY Change	88.66%	65.12%	51.23%
Other Long-Term Liabilities	$467.0K	$305.0K	$49.00K
YoY Change	-71.52%	-80.94%	-96.75%
Total Long-Term Liabilities	$467.0K	$305.0K	$49.00K
YoY Change	-97.96%	-98.82%	-99.82%
TOTAL LIABILITIES
Total Short-Term Liabilities	$10.25M	$10.47M	$9.885M
Total Long-Term Liabilities	$467.0K	$305.0K	$49.00K
Total Liabilities	$10.71M	$10.77M	$9.934M
YoY Change	-74.14%	-75.09%	-75.1%
SHAREHOLDERS EQUITY
Retained Earnings		-$233.8M	-$203.7M
YoY Change
Common Stock		$246.2M	$243.0M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$18.13M	$12.33M	$39.34M
YoY Change
Total Liabilities & Shareholders Equity	$69.68M	$63.78M	$89.57M
YoY Change	-24.26%	-3.24%	3.15%

Cashflow Statement

Concept	2017 Q3	2017 Q2	2016 Q4
OPERATING ACTIVITIES
Net Income	-$14.08M	-$15.46M	-$14.55M
YoY Change	10.11%	10.04%	20.94%
Depreciation, Depletion And Amortization	$760.0K	$740.0K	$650.0K
YoY Change	35.71%	37.04%	32.65%
Cash From Operating Activities	-$11.66M	-$12.22M	-$10.30M
YoY Change	2.73%	-5.64%	16.78%
INVESTING ACTIVITIES
Capital Expenditures	-$130.0K	-$880.0K	-$900.0K
YoY Change	-90.85%	-12.87%	-51.87%
Acquisitions
YoY Change
Other Investing Activities			$0.00
YoY Change
Cash From Investing Activities	-$130.0K	-$880.0K	-$900.0K
YoY Change	-90.85%	-12.87%	-51.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	18.56M	400.0K	9.570M
YoY Change	-50.73%	-91.43%	-78.37%
NET CHANGE
Cash From Operating Activities	-11.66M	-12.22M	-10.30M
Cash From Investing Activities	-130.0K	-880.0K	-900.0K
Cash From Financing Activities	18.56M	400.0K	9.570M
Net Change In Cash	6.770M	-12.70M	-1.630M
YoY Change	-72.81%	36.71%	-104.86%
FREE CASH FLOW
Cash From Operating Activities	-$11.66M	-$12.22M	-$10.30M
Capital Expenditures	-$130.0K	-$880.0K	-$900.0K
Free Cash Flow	-$11.53M	-$11.34M	-$9.400M
YoY Change	16.11%	-5.03%	35.25%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2017Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	30763919	shares
CY2017Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	30764319	shares
CY2016Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	50218000
CY2017Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	4701000
CY2017Q2	us-gaap	Assets Current AssetsCurrent	48789000
CY2017Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	981000
CY2017Q2	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	545000
CY2017Q2	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	7783000
CY2017Q2	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	246141000
CY2017Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	1660000
CY2017Q2	us-gaap	Assets Assets	63777000
CY2017Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	46134000
CY2017Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2017Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	200000000	shares
CY2017Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	30763919	shares
CY2017Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2017Q2	us-gaap	Common Stock Value CommonStockValue	32000
CY2017Q2	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	2494000
CY2017Q2	us-gaap	Deferred Rent Credit Noncurrent DeferredRentCreditNoncurrent	771000
CY2017Q2	us-gaap	Deferred Rent Credit Current DeferredRentCreditCurrent	248000
CY2017Q2	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	2234000
CY2017Q2	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions	6100000
CY2017Q2	us-gaap	Inventory Net InventoryNet	1014000
CY2017Q2	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	82000
CY2017Q2	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	463000
CY2017Q2	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	469000
CY2017Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	63777000
CY2017Q2	us-gaap	Liabilities Current LiabilitiesCurrent	10468000
CY2017Q2	us-gaap	Long Term Notes Payable LongTermNotesPayable	39908000
CY2017Q2	us-gaap	Notes Payable NotesPayable	41273000
CY2017Q2	us-gaap	Notes Payable Current NotesPayableCurrent	1365000
CY2017Q2	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	717000
CY2017Q2	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	218000
CY2017Q2	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	305000
CY2017Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2017Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2017Q2	us-gaap	Preferred Stock Value PreferredStockValue
CY2017Q2	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	660000
CY2017Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2017Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2017Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	14510000
CY2017Q2	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	22293000
CY2017Q2	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	260000
CY2017Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-233848000
CY2017Q2	us-gaap	Stockholders Equity StockholdersEquity	12325000
CY2017Q2	ttoo	Accrued Research And Development Expenses Current AccruedResearchAndDevelopmentExpensesCurrent	1205000
CY2015Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	73662000
CY2016Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	4908000
CY2016Q4	us-gaap	Assets Current AssetsCurrent	75438000
CY2016Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	327000
CY2016Q4	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	884000
CY2016Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	7066000
CY2016Q4	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	242997000
CY2016Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	962000
CY2016Q4	us-gaap	Assets Assets	89568000
CY2016Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	73488000
CY2016Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2016Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	200000000	shares
CY2016Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	30482712	shares
CY2016Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2016Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	30482712	shares
CY2016Q4	us-gaap	Common Stock Value CommonStockValue	30000
CY2016Q4	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	2445000
CY2016Q4	us-gaap	Deferred Rent Credit Noncurrent DeferredRentCreditNoncurrent	792000
CY2016Q4	us-gaap	Deferred Rent Credit Current DeferredRentCreditCurrent	301000
CY2016Q4	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	2479000
CY2016Q4	us-gaap	Inventory Net InventoryNet	803000
CY2016Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	63000
CY2016Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	389000
CY2016Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	351000
CY2016Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	89568000
CY2016Q4	us-gaap	Liabilities Current LiabilitiesCurrent	9885000
CY2016Q4	us-gaap	Long Term Notes Payable LongTermNotesPayable	39504000
CY2016Q4	us-gaap	Notes Payable NotesPayable	40773000
CY2016Q4	us-gaap	Notes Payable Current NotesPayableCurrent	1269000
CY2016Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	699000
CY2016Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	281000
CY2016Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	49000
CY2016Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2016Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2016Q4	us-gaap	Preferred Stock Value PreferredStockValue
CY2016Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	820000
CY2016Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2016Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2016Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	13589000
CY2016Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	20655000
CY2016Q4	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	260000
CY2016Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-203689000
CY2016Q4	us-gaap	Stockholders Equity StockholdersEquity	39338000
CY2016Q4	ttoo	Accrued Research And Development Expenses Current AccruedResearchAndDevelopmentExpensesCurrent	846000
	dei	Amendment Flag AmendmentFlag	false
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	2455000
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	5132326	shares
	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	51000
	us-gaap	Cost Of Goods Sold CostOfGoodsSold	3617000
	us-gaap	Costs And Expenses CostsAndExpenses	28947000
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	1432000
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.99
	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P2Y0M18D
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2017
	dei	Document Type DocumentType	10-Q
	dei	Document Period End Date DocumentPeriodEndDate	2017-06-30
	dei	Entity Registrant Name EntityRegistrantName	T2 Biosystems, Inc.
	dei	Entity Central Index Key EntityCentralIndexKey	0001492674
	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	-107000
	us-gaap	Guarantees Indemnifications And Warranties Policies GuaranteesIndemnificationsAndWarrantiesPolicies	<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Guarantees</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> As permitted under Delaware law, the Company indemnifies its officers and directors for certain events or occurrences while each such officer or director is, or was, serving at the Company’s request in such capacity. The term of the indemnification is the officer’s or director’s lifetime. The maximum potential amount of future payments the Company could be required to make is unlimited; however, the Company has directors’ and officers’ liability insurance coverage that limits its exposure and enables the Company to recover a portion of any future amounts paid.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The Company leases office, laboratory and manufacturing space under noncancelable operating leases. The Company has standard indemnification arrangements under the leases that require it to indemnify the landlords against all costs, expenses, fines, suits, claims, demands, liabilities, and actions directly resulting from any breach, violation or nonperformance of any covenant or condition of the Company’s leases.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> In the ordinary course of business, the Company enters into indemnification agreements with certain suppliers and business partners where the Company has certain indemnification obligations limited to the costs, expenses, fines, suits, claims, demands, liabilities and actions directly resulting from the Company’s gross negligence or willful misconduct, and in certain instances, breaches, violations or nonperformance of covenants or conditions under the agreements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> As of June 30, 2017 and December 31, 2016, the Company had not experienced any material losses related to these indemnification obligations, and no material claims with respect thereto were outstanding. The Company does not expect significant claims related to these indemnification obligations and, consequently, concluded that the fair value of these obligations is negligible, and no related reserves were established.</p> </div>
	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	48000
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	654000
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	212000
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	698000
	us-gaap	Increase Decrease In Accrued Liabilities And Other Operating Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities	-230000
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-225000
	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	-3291000
	us-gaap	Interest Paid InterestPaid	1981000
	us-gaap	Nature Of Operations NatureOfOperations	<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> <b>1. Nature of Business</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> T2 Biosystems, Inc. (the “Company”) was incorporated on April 27, 2006 as a Delaware corporation with operations based in Lexington, Massachusetts. The Company is an <i>in vitro</i> diagnostics company that has developed an innovative and proprietary technology platform that offers a rapid, sensitive and simple alternative to existing diagnostic methodologies. The Company is using its T2 Magnetic Resonance technology (“T2MR”) to develop a broad set of applications aimed at lowering mortality rates, improving patient outcomes and reducing the cost of healthcare by helping medical professionals make targeted treatment decisions earlier. T2MR enables rapid detection of pathogens, biomarkers and other abnormalities in a variety of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as low as one colony forming unit per milliliter (“CFU/mL”). The Company’s initial development efforts target sepsis and lyme disease, which are areas of significant unmet medical need in which existing therapies could be more effective with improved diagnostics. On September 22, 2014, the Company received market clearance from the U.S. Food and Drug Administration (“FDA”) for its first two products, the T2Dx Instrument (the “T2Dx”) and T2Candida Panel (“T2Candida”). On June 30, 2017 the Company received CE Mark for its T2Bacteria Panel (“T2Bacteria”).</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Liquidity</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> At June 30, 2017, the Company had cash and cash equivalents of $46.1 million and an accumulated deficit of $233.8 million. The future success of the Company is dependent on its ability to successfully commercialize its FDA approved products, obtain regulatory clearance for and successfully launch its future product candidates, including T2Bacteria, obtain additional capital and ultimately attain profitable operations. Historically, the Company has funded its operations primarily through its August 2014 initial public offering, its December 2015 secondary public offering, its September 2016 private investment in public equity (“PIPE”) financing, private placements of redeemable convertible preferred stock and through debt financing arrangements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The Company is subject to a number of risks similar to other newly commercial life science companies, including, but not limited to commercially launching the Company’s products, development and market acceptance of the Company’s product candidates, development by its competitors of new technological innovations, protection of proprietary technology, and raising additional capital.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Having obtained authorization from the FDA to market T2Dx and T2Candida, the Company has incurred significant commercialization expenses related to product sales, marketing, manufacturing and distribution. In addition, the Company expects that costs and expenses may increase as it continues the research and development of other product candidates and maintains, expands and protects its intellectual property portfolio. The Company may seek to fund its operations through public equity or private equity or debt financings, as well as other sources. However, the Company may be unable to raise additional funds or enter into such other arrangements when needed on favorable terms or at all. The Company’s failure to raise capital or enter into such other arrangements if and when needed would have a negative impact on the Company’s business, results of operations and financial condition and the Company’s ability to develop and commercialize T2Dx, T2Candida, T2Bacteria and other product candidates.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Management believes that its existing cash and cash equivalents at June 30, 2017, together with the additional remaining liquidity on the Company’s Term Loan Agreement of up to an additional $10.0 million, will be sufficient to allow the Company to fund its current operating plan for 12 months from the date the financial statements are issued. The borrowing on the Term Loan Agreement is available at any time through July 27, 2018, and is subject to certain conditions including that the Company receive 510(k) clearance for the marketing of T2Bacteria<sup style="FONT-SIZE: 85%; VERTICAL-ALIGN: top">TM</sup> by the U.S. Food and Drug Administration (“FDA”) by April 30, 2018 (see Note 5). Because certain elements of the Company’s plan are outside of the Company’s control they cannot be considered probable, as defined by ASU 2014-15, <i>Presentation of Financial Statements - Going Concern</i>. Should the Company’s current operating plan not materialize as expected, including the Company’s ability to draw additional borrowings on the Term Loan Agreement on a timely basis, the Company would delay certain research projects and capital expenditures and reduce or eliminate certain future operating expenses in order to fund operations at reduced levels for the Company to continue as a going concern for a period of 12 months from the date the financial statements are issued.</p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px">  </p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%"> For more information, refer to the section titled “Liquidity and Capital Resources” in Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations and the section entitled “Risk Factors” in the Annual Report on Form 10-K for the year ended December 31, 2016, for additional risks associated with our capital needs.</p> </div>
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-2468000
	us-gaap	Net Cash Provided By Used In Continuing Operations NetCashProvidedByUsedInContinuingOperations	-27354000
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	93000
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-24979000
	us-gaap	Net Income Loss NetIncomeLoss	-30160000
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1	Segment
	us-gaap	Operating Income Loss OperatingIncomeLoss	-27050000
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	181000
	us-gaap	Paid In Kind Interest PaidInKindInterest	1291000
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	2468000
	us-gaap	Research And Development Arrangement Contract To Perform For Others Compensation Earned ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned	531000
	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	620000
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	13697000
	us-gaap	Sales Revenue Net SalesRevenueNet	1897000
	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	1366000
	us-gaap	Share Based Compensation ShareBasedCompensation	2550000
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	11633000
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1	2000000
	us-gaap	Straight Line Rent StraightLineRent	74000
	dei	Trading Symbol TradingSymbol	TTOO
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	30595933	shares
	ttoo	Proceeds From Issuance Of Common Stock And Stock Options Exercised ProceedsFromIssuanceOfCommonStockAndStockOptionsExercised	713000
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	2462000
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	4167295	shares
	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	184000
	us-gaap	Cost Of Goods Sold CostOfGoodsSold	2807000
	us-gaap	Costs And Expenses CostsAndExpenses	28112000
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	1068000
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-1.13
	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-879000
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-81000
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	752000
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-49000
	us-gaap	Increase Decrease In Accrued Liabilities And Other Operating Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities	228000
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-276000
	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	-1540000
	us-gaap	Interest Paid InterestPaid	1146000
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-3173000
	us-gaap	Net Cash Provided By Used In Continuing Operations NetCashProvidedByUsedInContinuingOperations	-23444000
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	4516000
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-24787000
	us-gaap	Net Income Loss NetIncomeLoss	-27472000
	us-gaap	Operating Income Loss OperatingIncomeLoss	-26026000
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	94000
	us-gaap	Paid In Kind Interest PaidInKindInterest	308000
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	3173000
	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	385000
	us-gaap	Proceeds From Debt Net Of Issuance Costs ProceedsFromDebtNetOfIssuanceCosts	4593000
	us-gaap	Research And Development Arrangement Contract To Perform For Others Compensation Earned ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned	1498000
	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	392000
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	12958000
	us-gaap	Sales Revenue Net SalesRevenueNet	2086000
	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	588000
	us-gaap	Share Based Compensation ShareBasedCompensation	2527000
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	12347000
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1	2500000
	us-gaap	Straight Line Rent StraightLineRent	123000
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	24270041	shares
	ttoo	Proceeds From Issuance Of Common Stock And Stock Options Exercised ProceedsFromIssuanceOfCommonStockAndStockOptionsExercised	700000
CY2016Q2	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	1200000
CY2016Q2	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	4167295	shares
CY2016Q2	us-gaap	Cost Of Goods Sold CostOfGoodsSold	1781000
CY2016Q2	us-gaap	Costs And Expenses CostsAndExpenses	14293000
CY2016Q2	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.58
CY2016Q2	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	-805000
CY2016Q2	us-gaap	Net Income Loss NetIncomeLoss	-14046000
CY2016Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-13303000
CY2016Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	62000
CY2016Q2	us-gaap	Research And Development Arrangement Contract To Perform For Others Compensation Earned ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned	839000
CY2016Q2	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	6369000
CY2016Q2	us-gaap	Sales Revenue Net SalesRevenueNet	990000
CY2016Q2	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	151000
CY2016Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	6143000
CY2016Q2	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	24321310	shares
CY2017Q2	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	1331000
CY2017Q2	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	5132326	shares
CY2017Q2	us-gaap	Cost Of Goods Sold CostOfGoodsSold	1989000
CY2017Q2	us-gaap	Costs And Expenses CostsAndExpenses	14860000
CY2017Q2	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.50
CY2017Q2	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	-1654000
CY2017Q2	us-gaap	Net Income Loss NetIncomeLoss	-15456000
CY2017Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-13904000
CY2017Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	102000
CY2017Q2	us-gaap	Research And Development Arrangement Contract To Perform For Others Compensation Earned ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned	221000
CY2017Q2	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	7112000
CY2017Q2	us-gaap	Sales Revenue Net SalesRevenueNet	956000
CY2017Q2	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	735000
CY2017Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	5759000
CY2017Q2	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	30661200	shares

Files In Submission

Name	View Source	Status
0001193125-17-247725-index-headers.html	Edgar Link	pending
0001193125-17-247725-index.html	Edgar Link	pending
0001193125-17-247725.txt	Edgar Link	pending
0001193125-17-247725-xbrl.zip	Edgar Link	pending
d411451d10q.htm	Edgar Link	pending
d411451dex103.htm	Edgar Link	pending
d411451dex311.htm	Edgar Link	pending
d411451dex312.htm	Edgar Link	pending
d411451dex321.htm	Edgar Link	pending
d411451dex322.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
R14.htm	Edgar Link	pending
R15.htm	Edgar Link	pending
R16.htm	Edgar Link	pending
R17.htm	Edgar Link	pending
R18.htm	Edgar Link	pending
R19.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R20.htm	Edgar Link	pending
R21.htm	Edgar Link	pending
R22.htm	Edgar Link	pending
R23.htm	Edgar Link	pending
R24.htm	Edgar Link	pending
R25.htm	Edgar Link	pending
R26.htm	Edgar Link	pending
R27.htm	Edgar Link	pending
R28.htm	Edgar Link	pending
R29.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R30.htm	Edgar Link	pending
R31.htm	Edgar Link	pending
R32.htm	Edgar Link	pending
R33.htm	Edgar Link	pending
R34.htm	Edgar Link	pending
R35.htm	Edgar Link	pending
R36.htm	Edgar Link	pending
R37.htm	Edgar Link	pending
R38.htm	Edgar Link	pending
R39.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R40.htm	Edgar Link	pending
R41.htm	Edgar Link	pending
R42.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
ttoo-20170630.xml	Edgar Link	completed
ttoo-20170630.xsd	Edgar Link	pending
ttoo-20170630_cal.xml	Edgar Link	unprocessable
ttoo-20170630_def.xml	Edgar Link	unprocessable
ttoo-20170630_lab.xml	Edgar Link	unprocessable
ttoo-20170630_pre.xml	Edgar Link	unprocessable

Create your account

Find Stocks Worth Researching

Deeply Understand Businesses

Value Businesses Intelligently

$TTOO
T2 Biosystems, Inc. Stock $ttoo

2017 Q3 Form 10-Q Financial Statement

#000119312517247725 Filed on August 04, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$TTOO T2 Biosystems, Inc. Stock $ttoo

2017 Q3 Form 10-Q Financial Statement

#000119312517247725 Filed on August 04, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$TTOO
T2 Biosystems, Inc. Stock $ttoo