T2 Biosystems Announces Preliminary Fourth Quarter and Full Year 2021 Results

T2 Biosystems Announces Preliminary Fourth Quarter and Full Year 2021 Results

LEXINGTON, Mass., January 11, 2022 (GLOBE NEWSWIRE) T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of

sepsis-causing pathogens, today announced preliminary unaudited financial and operational results for the fourth quarter and full year 2021.

Highlights (unaudited)

We made considerable progress across the business throughout 2021, including a 53% increase in total

revenue, a 43% increase in product revenue, continued improvement in product gross margins, and meaningful advances across our new product pipeline, stated John Sperzel, Chairman and CEO of T2 Biosystems. Heading into 2022, we believe we

are well-positioned to accelerate product sales growth, including the number of T2Dx Instruments and the sales of our sepsis test panels.

The Company s fourth quarter and full year 2021 financial results are preliminary and are subject to the completion of the Company s 2021 audit.

Complete fourth quarter and full year 2021 financial results will be announced in early March.

About T2 Biosystems T2

Biosystems, a leader in the rapid detection of sepsis-causing pathogens, is dedicated to improving patient care and reducing the cost of care by helping clinicians effectively treat patients faster than ever before. T2 Biosystems products

include the T2Dx Instrument, T2Candida Panel, the T2Bacteria Panel, the

T2Resistance Panel, and the T2SARS-CoV-2 Panel and

are powered by the proprietary T2 Magnetic Resonance (T2MR ) technology. T2 Biosystems has an active pipeline of future products, including the T2Cauris Panel, and T2Lyme Panel, as well as additional products for the detection of bacterial and fungal pathogens and associated

antimicrobial resistance markers, and biothreat pathogens.

Forward-Looking Statements

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 regarding our revenue results and cash balance, financial outlook, timing of filing of an

FDA submission, anticipated strategic priorities, product demand, commitments or opportunities, and growth expectations or targets, as well as statements that include the words expect, intend, plan ,

believe , project , forecast , estimate, may, should, anticipate, and similar statements of a future or forward looking nature. These forward-looking statements are

based on management s 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. Risk Factors in the company s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the U.S. Securities and Exchange Commission, or SEC, on March 31, 2021, 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 s 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 s 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 s views as of any date subsequent to the date of this press release.

Gina Kent, Vault Communications

Philip Trip Taylor, Gilmartin Group