Why T2 Biosystems Shares Are Nosediving

T2 Biosystems Inc TTOO shares are trading lower by 21.43% to $1.10 Tuesday morning after the company announced a proposed public offering.

What Else?

All of the securities are being offered by T2 Biosystems. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

See Also: T2 Biosystems Touts Positive Results From T2Biothreat Panel Stud

Craig-Hallum Capital Group LLC is acting as the sole managing underwriter for the offering.

According to data from Benzinga Pro, TTOO has a 52-week high of $29.25 and a 52-week low of $1.05.