Why T2 Biosystems Stock Is Cleared For Take Off

 T2 Biosystems, Inc. TTOO shares are trading higher Monday after the FDA cleared the company's biothreat panel for commercial distribution.

The Details:

T2 Biosystems received the FDA 510(k) decision of substantially equivalent for its T2 Biothreat Panel, a multiplex nucleic acid detection system for biothreat agents before the market open on Monday.

Shares of TTOO are trading above the stock's 50-day moving average of 27 cents on heavy trading volume. According to data from Benzinga Pro, more than 166 million shares have already been traded in the session, compared to the stock's 100-day average of 106.865 million shares.

T2 Biosystems shares are frequently volatile, due in part to out-sized interest from the retail investor community. TTOO is currently one of the top trending tickers on Yahoo! Finance and Stocktwits. 

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TTOO Price Action: According to Benzinga Pro, T2 Biosystems shares are up 33% at 37 cents at the time of publication.

Image: BC Y from Pixabay