What's Going On With T2 Biosystems Stock?

T2 Biosystems, Inc. (NASDAQ:) shares are rocketing higher Thursday. The stock is up over 260% in the last five days. Here's a look at what's going on.

What To Know:

TTOO shares are up over 66% on very heavy trading volume. According to Benzinga Pro, more than 300 million shares have been traded in the session, compared to the stock's 100-day average of 62.363 million.  TTOO is up over 260% in the last five days and up more than 460% over the last month.

On Monday, T2 Biosystems announced that the Nasdaq Hearings Panel granted the company's request for an extension through November 20, 2023, to regain compliance with Nasdaq's minimum bid price and market value of listed securities  requirements.

T2 Biosystems will report its second-quarter financial results on Monday after the close of markets and will host a conference call to discuss the results at 4:30 p.m. ET the same day. The company is expected to report a loss of 27 cents per share and revenue of 2.03 million, according to data from Benzinga Pro.

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TTOO Price Action: According to Benzinga Pro, T2 Biosystems shares are trading 59.5% higher at 39 cents at the time of publication.

Image: Mohamed_hassan from Pixabay