T2 BIOSYSTEMS, INC. Item 8.01 Other Events.
On
• Estimated first quarter 2020 total revenue is expected to be in the range
of $2.2 million to $2.6 million , compared to $1.8 million in total
revenue the first quarter of 2019.
• Estimated first quarter product revenue is expected to be in the range of
$0.9 million to $1.1 million , compared to product revenue of $1.3 million
in the prior year period.
• Estimated first quarter research and grant contribution revenues are
expected to be in the range of $1.3 million to $1.5 million , compared to
research and grant contribution revenue of $0.5 million in the prior year
period.
• Cash and cash equivalents as of March 31, 2020 are expected to be
approximately $30.0 million .
On
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. All statements
contained in this Current Report on Form 8-K 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,
the adaptation of the COVID-19 test on the Company's T2Dx® Instrument,
additional patients, timing of testing patients, anticipated product benefits,
strategic priorities, product expansion or opportunities, growth expectations or
targets, timing of FDA filings or clearances and anticipated operating expenses,
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. The preliminary,
estimated financial results for the first quarter contained in this Current
Report on Form 8-K contain forward-looking statements and are subject to the
completion of management's and the audit committee's final reviews and our other
financial closing procedures and are therefore subject to change. You should not
place undue reliance on such preliminary information and estimates because they
may prove to be materially inaccurate. The preliminary information and estimates
have not been compiled or examined by our independent auditors and they are
subject to revision as we prepare our financial statements as of and for the
quarter ending
Furthermore, statements contained in this document relating to the recent global outbreak of the novel coronavirus disease (COVID-19), the impact of which remains inherently uncertain on our financial results, are forward-looking statements. 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)
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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
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