T2 Biosystems Inc (TTOO)

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T2 Biosystems Solidifies Its Position as a COVID-19 Stock With New Test
Chris Lange 7/1/2020
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24/7 Wall St. logoT2 Biosystems Solidifies Its Position as a COVID-19 Stock With New Test
T2 Biosystems Inc. (NASDAQ: TTOO) solidified its position as a coronavirus stock on Wednesday morning when it announced the launch of its COVID-19 molecular diagnostic test. Coronavirus testing has become a very lucrative field, with a few companies capitalizing on the significant demand for testing globally.

Specifically, the company announced the completion of validation of its COVID-19 molecular diagnostic test, the T2SARS-CoV-2 Panel. The test was developed by T2 Biosystems under a license agreement with the Center of Discovery and Innovation at Hackensack Meridian Health and is being commercially distributed after validation meeting requirements for an Emergency Use Authorization (EUA) request to FDA.