T2 Biosystems' Stock Jumps As Its COVID-19 Molecular Test Can Detect Mu, Iota Variants

T2 Biosystems Inc TTOO announced that its T2SARS-CoV-2 Panel is capable of detecting the Mu (B.1.621) and Iota (B.1.526) variants, which were recently confirmed to be present in the U.S.
Also Read: T2 Biosystems Q2 Earnings Edges Wall Street Estimates On Higher Test Panels Volumes, Expects Lower COVID-19 Test Sales In FY21.
The T2SARS-CoV-2 Panel, which has demonstrated clinical sensitivity of 95% and specificity of 100%, provides results in under two hours utilizing an upper respiratory swab sample.
The test runs on the Company's T2Dx Instrument, which can perform seven tests simultaneously and up to sixty samples per day.
The same T2Dx Instrument is also capable of running the FDA-cleared T2Bacteria Panel and T2Candida Panel.
These panels are the only FDA-cleared assays for detecting sepsis-causing bacterial and fungal pathogens directly from whole blood in three to five hours, without the need to wait days for blood culture results.
Price Action: TTOO shares are up 25.8% at $1.09 during the premarket session on the last check Friday.