Exhibit 99.1
T2 Biosystems, Inc.
Condensed Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except share and per share data)
(Unaudited)
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| Three Months Ended |
| Twelve Months Ended |
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| 2016 |
| 2015 |
| 2016 |
| 2015 |
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Revenue: |
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Product revenue |
| $ | 579 |
| $ | 343 |
| $ | 1,747 |
| $ | 599 |
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Research revenue |
| 331 |
| 668 |
| 2,333 |
| 2,214 |
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Total revenue |
| 910 |
| 1,011 |
| 4,080 |
| 2,813 |
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Costs and expenses: |
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Cost of product revenue |
| 2,171 |
| 910 |
| 6,872 |
| 1,740 |
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Research and development expenses |
| 5,851 |
| 6,638 |
| 24,009 |
| 25,362 |
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Selling, general and administrative expenses |
| 5,795 |
| 5,008 |
| 24,077 |
| 19,094 |
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Total costs and expenses |
| 13,817 |
| 12,556 |
| 54,958 |
| 46,196 |
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Loss from operations |
| (12,907 | ) | (11,545 | ) | (50,878 | ) | (43,383 | ) | ||||
Interest expense, net |
| (1,682 | ) | (513 | ) | (4,098 | ) | (1,967 | ) | ||||
Other income, net |
| 40 |
| 26 |
| 172 |
| 60 |
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Net loss and comprehensive loss |
| $ | (14,549 | ) | $ | (12,032 | ) | $ | (54,804 | ) | $ | (45,290 | ) |
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Net loss per share - basic and diluted |
| $ | (0.48 | ) | $ | (0.56 | ) | $ | (2.11 | ) | $ | (2.21 | ) |
Weighted-average number of common shares used in computing net loss per share |
| 30,457,063 |
| 21,322,799 |
| 26,015,751 |
| 20,501,748 |
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T2 Biosystems, Inc.
Condensed Consolidated Balance Sheets
(In thousands, except share and per share data)
(Unaudited)
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| December 31, |
| December 31, |
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Assets |
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Current Assets: |
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Cash and cash equivalents |
| $ | 73,488 |
| $ | 73,662 |
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Accounts receivable |
| 327 |
| 369 |
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Prepaid expenses and other current assets |
| 820 |
| 838 |
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Inventory, net |
| 803 |
| 683 |
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Total current assets |
| 75,438 |
| 75,552 |
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Property and equipment, net |
| 13,589 |
| 10,655 |
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Restricted cash |
| 260 |
| 260 |
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Other assets |
| 281 |
| 358 |
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Total assets |
| $ | 89,568 |
| $ | 86,825 |
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Liabilities and stockholders’ equity |
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Current liabilities: |
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Accounts payable |
| $ | 962 |
| $ | 1,228 |
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Accrued expenses and other current liabilities |
| 4,908 |
| 4,162 |
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Current portion of notes payable |
| 1,269 |
| 4,449 |
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Current portion of lease incentives |
| 301 |
| 268 |
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Deferred revenue |
| 2,445 |
| 2,146 |
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Total current liabilities |
| 9,885 |
| 12,253 |
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Notes payable, net of current portion |
| 39,504 |
| 26,121 |
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Lease incentives, net of current portion |
| 792 |
| 1,076 |
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Other liabilities |
| 49 |
| 436 |
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Commitments and contingencies |
| — |
| — |
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Stockholders’ equity: |
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Common stock, $0.001 par value; 200,000,000 shares authorized at December 31, 2016 and December 31, 2015; 30,482,712 and 24,175,381 shares issued and outstanding at December 31, 2016 and December 31, 2015, respectively |
| 30 |
| 24 |
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Additional paid-in capital |
| 242,997 |
| 195,800 |
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Accumulated deficit |
| (203,689 | ) | (148,885 | ) | ||
Total stockholders’ equity |
| 39,338 |
| 46,939 |
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Total liabilities and stockholders’ equity |
| $ | 89,568 |
| $ | 86,825 |
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