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Private company

T2 Biosystems, Inc.

In its 2024 annual report the company says: “We are an in vitro diagnostics company and leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes. Our technology 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, or CFU/mL.”5 It is headquartered in Lexington, United States.2

Last updated Oct 21, 2026.

Overview

  • IndustrySurgical & Medical Instruments & Apparatus2
  • HeadquartersLexington, United States2
  • Incorporated inDE3
  • Business address101 Hartwell Avenue, Lexington, Ma 024213
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI54930027RQTU9CHLKL882
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressc/o CORPORATION SERVICE COMPANY, 251 LITTLE FALLS DRIVE, 19808 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 41500732

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We are an in vitro diagnostics company and leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes. Our technology 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, or CFU/mL. We are currently targeting what we believe to be a range of critically underserved healthcare conditions, focusing initially on those for which rapid detection may enable faster targeted antimicrobial treatment, improve patient outcomes, and reduce cost. Our current focus includes three areas – sepsis, bioterrorism, and Lyme disease – which we believe collectively represent a multi-billion dollar market opportunity.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

-690.4%Operating margin6
-696.2%Net margin6
-67.8%Revenue growth, 20236
-$48.3MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Research and development36¢$14.2M
  • Selling, general and admin64¢$24.8M

Out of $7.2M in revenue.6 The company lost money this year.

Financial statements

Revenue789106$7.2M in 2023+54% since 2017
0$10.0M$20.0M$30.0M2017: $4.7M$4.7M20172018: $10.5M$10.5M2018+125%2019: $8.3M$8.3M2019−21%2020: $18.1M$18.1M2020+118%2021: $28.1M$28.1M2021+55%2022: $22.3M$22.3M2022−21%2023: $7.2M$7.2M2023−68%
Operating income789106-$49.7M in 2023−8% since 2017
-$60.0M-$40.0M-$20.0M02017: -$53.9M-$53.9M20172018: -$45.1M-$45.1M2018−16%2019: -$52.1M-$52.1M2019+15%2020: -$41.4M-$41.4M2020−21%2021: -$43.0M-$43.0M2021+4%2022: -$55.2M-$55.2M2022+28%2023: -$49.7M-$49.7M2023−10%
Net income789106-$50.1M in 2023−20% since 2017
-$80.0M-$60.0M-$40.0M-$20.0M02017: -$62.4M-$62.4M20172018: -$51.2M-$51.2M2018−18%2019: -$59.0M-$59.0M2019+15%2020: -$46.8M-$46.8M2020−21%2021: -$49.2M-$49.2M2021+5%2022: -$62.0M-$62.0M2022+26%2023: -$50.1M-$50.1M2023−19%
Fiscal year2017201820192020202120222023
Revenue$4.7M7$10.5M7$8.3M8$18.1M9$28.1M10$22.3M6$7.2M6
Cost of revenue$12.0M13$21.0M6
Research and development$23.7M7$14.5M7$16.3M8$16.1M9$21.8M10$25.7M6$14.2M6
Selling, general and admin$22.8M7$25.7M7$27.3M8$22.1M9$28.5M10$30.6M6$24.8M6
Operating expenses$71.0M10$77.5M6$56.9M6
Operating income-$53.9M7-$45.1M7-$52.1M8-$41.4M9-$43.0M10-$55.2M6-$49.7M6
Interest$7.3M8$5.5M9$7.6M10$6.1M10
Net income-$62.4M7-$51.2M7-$59.0M8-$46.8M9-$49.2M10-$62.0M6-$50.1M6
Earnings per share-$15.5010-$1,222.146-$19.196
Earnings per share (diluted)-$15.5010-$1,222.146-$19.196
Shares (weighted, basic)3.2M shares1051.0K shares62.6M shares6
Shares (weighted, diluted)3.2M shares1051.0K shares62.6M shares6

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Corporate structure

T2 Biosystems, Inc. sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of T2 Biosystems, Inc.

  • JSAF Holdings, LLC Filed SCHEDULE 13G/A on T2 Biosystems, Inc., latest Feb 13, 2025 (2 filings since Nov 6, 2024)
  • Jacob Safier Filed SCHEDULE 13G/A on T2 Biosystems, Inc., latest Feb 13, 2025 (4 filings since Mar 11, 2024)
  • ARMISTICE CAPITAL, LLC Filed SC 13G on T2 Biosystems, Inc., latest Nov 14, 2024
  • Dimensions Trading New Filed SC 13G/A on T2 Biosystems, Inc., latest Aug 15, 2024 (2 filings since Mar 11, 2024)
  • CR Group L.P. Filed SC 13D/A on T2 Biosystems, Inc., latest May 13, 2024 (4 filings since Jul 13, 2023)
  • Lind Global Fund II LP Filed SC 13G/A on T2 Biosystems, Inc., latest Feb 13, 2024 (2 filings since Feb 21, 2023)
  • GSA CAPITAL PARTNERS LLP Filed SC 13G on T2 Biosystems, Inc., latest Jul 31, 2023 (3 filings since Jun 21, 2023)
  • Jason Carrick Filed SC 13G on T2 Biosystems, Inc., latest Jun 23, 2023
  • John Markey Filed SC 13G on T2 Biosystems, Inc., latest Jun 22, 2023 (4 filings since Jun 12, 2023)
  • T2 Biosystems, Inc. Lexington, Massachusetts, United States
    • T2 Biosystems Securities Corporation Subsidiary · Massachusetts, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What T2 Biosystems, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$16.5M6 Dec 31, 2023$18.8M6 Dec 31, 2022−12.1%
Accumulated depreciation$14.9M6 Dec 31, 2023$14.3M6 Dec 31, 2022+4.2%
Property and equipment, net$1.7M6 Dec 31, 2023$4.5M6 Dec 31, 2022−63.4%
Operating-lease assets (leased space)$7.4M6 Dec 31, 2023$8.7M6 Dec 31, 2022−15.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$15.7M6 Dec 31, 2023$10.3M6 Dec 31, 2022+51.9%
Marketable securities, current$06 Dec 31, 2023$06 Dec 31, 2022

Inventory

ItemLatestA year beforeChange
Inventory, total$4.8M6 Dec 31, 2023$4.3M6 Dec 31, 2022+12.5%
Raw materials$1.9M6 Dec 31, 2023$2.0M6 Dec 31, 2022−6.1%
Work in process$1.4M6 Dec 31, 2023$1.2M6 Dec 31, 2022+22.5%
Finished goods$1.5M6 Dec 31, 2023$1.1M6 Dec 31, 2022+35.5%

Leadership

Who has led T2 Biosystems, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. John J. Sperzel Iii.2021–2023

Chair

  1. John J. Sperzel Iii.2022–2023

President

  1. John J. Sperzel Iii.2021–2022

Chief financial officer

  1. Maurice L. Castonguay2015
  2. Shawn Lynch2016–2017
  3. Darlene M. Deptula-Hicks2017

Chief operating officer

  1. Sarah O. Kalil2014–2016
201520202025
Board members and other officers (26)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • T2 Biosystems Securities Corporation Massachusetts4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Apr 7, 20258-K Executive or director change46
  2. Feb 20, 20258-K Other events47
  3. Feb 14, 20258-K Exit or restructuring costs; Executive or director change; Other events48
  4. Feb 11, 20258-K Listing notice or transfer49
  5. Jan 17, 20258-K Entered a material agreement50
  6. Jan 7, 20258-K Results of operations; Other events51
  7. Jan 3, 20258-K Executive or director change; Shareholder vote52
  8. Dec 13, 20248-K Listing notice or transfer53
  9. Dec 9, 20248-K Regulation FD disclosure; Other events54
  10. Nov 15, 20248-K Results of operations; Other events55
  11. Nov 8, 20248-K Listing notice or transfer56
  12. Oct 16, 20248-K Results of operations57
  13. Mar 19, 2021New chief executive John J. Sperzel Iii. becomes CEO15
  14. Apr 26, 2006Founded T2 Biosystems, Inc. is founded2

Calendar

When it reported results

  1. Jan 7, 2025Reported quarterly or annual results51
  2. Nov 15, 2024Reported quarterly or annual results55
  3. Oct 16, 2024Reported quarterly or annual results57
  4. Oct 7, 2024Reported quarterly or annual results58
  5. Jul 29, 2024Reported quarterly or annual results59
  6. May 6, 2024Reported quarterly or annual results60
  7. Feb 16, 2024Reported quarterly or annual results61
  8. Feb 15, 2024Reported quarterly or annual results62

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

272 filings to the SEC since October 2021: 3 annual reports, 10 quarterly reports, 85 major events, 103 insider forms, 23 large holders, 48 other. The latest 20:

  1. Apr 7, 20258-K EDGAR
  2. Apr 1, 2025NT 10-K EDGAR
  3. Feb 20, 20258-K EDGAR
  4. Feb 14, 20258-K EDGAR
  5. Feb 13, 2025SCHEDULE 13G/A EDGAR
  6. Feb 13, 2025SCHEDULE 13G/A EDGAR
  7. Feb 11, 20258-K EDGAR
  8. Jan 21, 2025DEF 14A EDGAR
  9. Jan 17, 20258-K EDGAR
  10. Jan 8, 2025PRE 14A EDGAR
  11. Jan 7, 20258-K EDGAR
  12. Jan 3, 20258-K EDGAR
  13. Jan 2, 20254 EDGAR
  14. Jan 2, 20254 EDGAR
  15. Jan 2, 20254 EDGAR
  16. Jan 2, 20254 EDGAR
  17. Jan 2, 20254 EDGAR
  18. Jan 2, 20254 EDGAR
  19. Jan 2, 20254 EDGAR
  20. Jan 2, 20254 EDGAR

The 272 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

25 open-market trades by officers, directors and large owners since October 2021: 5 buys and 20 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 13, 2024Elsbree David BDirectorSale55$2.42$133Form 4
Sep 28, 2023CRG Partners III (Cayman) Lev AIV I L.P.10% ownerSale7,148,945$0.16$1.1MForm 4
Sep 27, 2023CRG Partners III (Cayman) Lev AIV I L.P.10% ownerSale5,981,202$0.19$1.1MForm 4
Sep 26, 2023CRG Partners III (Cayman) Unlev AIV I L.P.10% ownerSale5,392,920$0.20$1.1MForm 4
Sep 25, 2023CRG Partners III (Cayman) Lev AIV I L.P.10% ownerSale250,000$0.25$62.5KForm 4
Sep 22, 2023CRG Partners III L.P.10% ownerSale5,079,344$0.26$1.3MForm 4
Sep 21, 2023CR Group L.P.10% ownerSale6,338,211$0.30$1.9MForm 4
Sep 20, 2023CR Group L.P.10% ownerSale7,753,710$0.31$2.4MForm 4
Sep 19, 2023CRG Partners III (Cayman) Unlev AIV I L.P.10% ownerSale10,401,466$0.37$3.8MForm 4
Mar 28, 2023Gibbs Michael TerrenceGeneral CounselSale239$0.48$115Form 4
Feb 28, 2023Sprague John MCFOSale1,148$0.59$677Form 4
Feb 28, 2023Gibbs Michael TerrenceGeneral CounselSale1,585$0.59$935Form 4
Feb 28, 2023Sperzel John J IIISee RemarksSale2,898$0.59$1.7KForm 4
Feb 22, 2023Giffin Brett A.Chief Commercial OfficerSale537$0.65$349Form 4
Feb 22, 2023Sprague John MCFOSale1,545$0.65$1.0KForm 4
Feb 22, 2023Gibbs Michael TerrenceGeneral CounselSale2,145$0.65$1.4KForm 4
Feb 22, 2023Sperzel John J IIISee RemarksSale6,875$0.65$4.5KForm 4
Feb 20, 2023Giffin Brett A.Chief Commercial OfficerSale537$0.65$349Form 4
Nov 10, 2022Giffin Brett A.Chief Commercial OfficerSale1,292$1.79$2.3KForm 4
Apr 8, 2022Barclay AlecChief Operations OfficerBuy12,952$0.50$6.5KForm 4

All 25 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How T2 Biosystems, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGART2 Biosystems, Inc.1
  • CIK0001492674
  • Employer ID (EIN)20-48274881
  • Filer statusNon-accelerated filer<br>smaller reporting company1
  • Incorporated inDelaware1
  • Fiscal year endsDecember 311
  • Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address101 Hartwell Avenue, Lexington, MA 024211
  • Phone781-457-12001
  • Shares outstanding21,042,952 as of Nov 11, 202412
  • Public float$17.1M as of Jun 30, 20236
  • On EDGAR sinceMay 28, 20101
  • Filings809 in all: 4 (330), 8-K (181), 3 (38), 10-Q (32), SC 13G/A (26), SC 13G (25), 424B5 (18), DEF 14A (12)1
    All 48 form types

    DEFA14A (12), CT ORDER (11), 10-K (10), CORRESP (10), 4/A (9), EFFECT (8), UPLOAD (8), PRE 14A (7), S-3 (7), SD (5), D (4), NT 10-Q (4), S-1/A (4), SC 13D/A (4), SEC STAFF LETTER (4), 8-K/A (3), DRS/A (3), DRSLTR (3), FWP (3), S-8 (3), SC 13D (3), NT 10-K (2), S-1 (2), SCHEDULE 13G/A (2), 10-K/A (1), 10-Q/A (1), 144 (1), 25-NSE (1), 25-NSE/A (1), 3/A (1), 424B4 (1), 8-A12B (1), ARS (1), CERTNAS (1), DEFR14A (1), DRS (1), RW (1), S-1MEF (1), S-3/A (1), S-3MEF (1)

  • Latest filingsAnnual report (10-K) Apr 1, 2024
    Quarterly report (10-Q) Nov 14, 2024
    Proxy statement (DEF 14A) Jan 21, 2025
    Latest 8-K (8-K) Apr 7, 2025

Sources

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