T2 Biosystems (TTOO) 10-Q 12 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 09, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Trading Symbol	TTOO
Entity Registrant Name	T2 Biosystems, Inc.
Entity Central Index Key	0001492674
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-36571
Entity Tax Identification Number	20-4827488
Entity Address, Address Line One	101 Hartwell Avenue
Entity Address, City or Town	Lexington
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02421
City Area Code	781
Local Phone Number	761-4646
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, par value $0.001
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		171,725,080

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 9,397	$ 22,245
Marketable securities	9,989	9,996
Accounts receivable	4,361	5,134
Inventories	5,172	3,909
Prepaid expenses and other current assets	4,584	3,110
Total current assets	33,503	44,394
Property and equipment, net	4,778	4,675
Operating lease right-of-use assets	9,472	9,766
Restricted cash	1,131	1,551
Other assets	155	153
Total assets	49,039	60,539
Current liabilities:
Accounts payable	3,385	2,832
Accrued expenses and other current liabilities	8,950	8,338
Deferred revenue	338	518
Total current liabilities	12,673	11,688
Notes payable	48,257	47,790
Operating lease liabilities, net of current portion	9,060	9,359
Deferred revenue, net of current portion	47	28
Other liabilities	4,653	4,577
Commitments and contingencies (see Note 13)
Stockholders’ deficit
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding at March 31, 2022 and December 31, 2021
Common stock, $0.001 par value; 400,000,000 shares authorized; 171,412,940 and 166,400,892 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	171	166
Additional paid-in capital	462,900	459,151
Accumulated other comprehensive loss	(11)	(4)
Accumulated deficit	(488,711)	(472,216)
Total stockholders’ deficit	(25,651)	(12,903)
Total liabilities and stockholders’ deficit	$ 49,039	$ 60,539

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	171,412,940	166,400,892
Common stock, shares outstanding	171,412,940	166,400,892

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Total revenue	$ 7,234	$ 6,956
Costs and expenses:
Research and development	6,656	4,665
Selling, general and administrative	9,230	6,203
Total costs and expenses	22,091	16,658
Loss from operations	(14,857)	(9,702)
Other income (expense):
Interest income	3	6
Interest expense	(1,650)	(1,013)
Other income, net	9	49
Total other expense	(1,638)	(958)
Net loss	$ (16,495)	$ (10,660)
Net loss per share — basic and diluted	$ (0.10)	$ (0.07)
Weighted-average number of common shares used in computing net loss per share — basic and diluted	169,855,170	148,231,412
Other comprehensive loss:
Net loss	$ (16,495)	$ (10,660)
Net unrealized gain (loss) on marketable securities arising during the period	(7)	9
Less: net realized gain on marketable securities included in net loss		(2)
Total other comprehensive (loss) income, net of taxes	(7)	7
Comprehensive loss	(16,502)	(10,653)
Product [Member]
Revenue:
Total revenue	3,844	4,650
Costs and expenses:
Cost of product revenue	6,205	5,790
Contribution [Member]
Revenue:
Total revenue	$ 3,390	$ 2,306

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Deficit - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Dec. 31, 2020	$ 8,726	$ 148	$ 431,544	$ (422,975)	$ 9
Balance (in shares) at Dec. 31, 2020		148,078,974
Stock-based compensation expense	1,308		1,308
Issuance of common stock from vesting of restricted stock and exercise of stock options	53		53
Issuance of common stock from vesting of restricted stock and exercise of stock options (in shares)		412,699
Unrealized gain (loss) on marketable securities	7				7
Net loss	(10,660)			(10,660)
Balance at Mar. 31, 2021	(566)	$ 148	432,905	(433,635)	16
Balance (in shares) at Mar. 31, 2021		148,491,673
Balance at Dec. 31, 2021	$ (12,903)	$ 166	459,151	(472,216)	(4)
Balance (in shares) at Dec. 31, 2021	166,400,892	166,400,892
Stock-based compensation expense	$ 2,552		2,552
Issuance of common stock from vesting of restricted stock and exercise of stock options		$ 2	(2)
Issuance of common stock from vesting of restricted stock and exercise of stock options (in shares)		2,002,048
Surrender of shares due to tax withholding	(230)	$ (1)	(229)
Surrender of shares due to tax withholding (in shares)		(539,360)
Issuance of common stock from secondary offering, net	1,432	$ 4	1,428
Issuance of common stock from secondary offering, net (in shares)		3,549,360
Unrealized gain (loss) on marketable securities	(7)				(7)
Net loss	(16,495)			(16,495)
Balance at Mar. 31, 2022	$ (25,651)	$ 171	$ 462,900	$ (488,711)	$ (11)
Balance (in shares) at Mar. 31, 2022	171,412,940	171,412,940

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net loss	$ (16,495)	$ (10,660)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	286	383
Amortization of bond premium		38
Amortization of operating lease right-of-use assets	294	428
Stock-based compensation expense	2,552	1,308
Change in fair value of derivative instrument		(829)
Gain on sales of marketable securities		(2)
Non-cash interest expense	543	915
Changes in operating assets and liabilities:
Accounts receivable	773	1,065
Prepaid expenses and other assets	(1,476)	(28)
Inventories	(1,534)	(1,426)
Accounts payable	553	1,798
Accrued expenses and other liabilities	502	(978)
Deferred revenue	(161)	27
Operating lease liabilities	(278)	(747)
Net cash used in operating activities	(14,441)	(8,708)
Cash flows from investing activities
Proceeds from maturities of marketable securities		2,750
Purchases and manufacture of property and equipment	(29)	(197)
Net cash provided by investing activities	(29)	2,553
Cash flows from financing activities
Payment of employee restricted stock tax withholdings	(230)
Proceeds from issuance of shares from employee stock purchase plan and stock option exercises		53
Proceeds from issuance of common stock in public offerings, net of offering costs	1,432
Net cash provided by financing activities	1,202	53
Net decrease in cash, cash equivalents and restricted cash	(13,268)	(6,102)
Cash, cash equivalents and restricted cash at beginning of period	23,796	17,344
Cash, cash equivalents and restricted cash at end of period	10,528	11,242
Supplemental disclosures of cash flow information
Cash paid for interest	1,106	928
Supplemental disclosures of noncash activities
Transfer of T2 owned instruments and components (from) to inventory	(271)	(537)
Purchases of property and equipment included in accounts payable and accrued expenses	$ 134	$ 100

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Reconciliation of cash, cash equivalents and restricted cash at end of period
Cash and cash equivalents	$ 9,397	$ 22,245	$ 10,691
Restricted cash	1,131	1,551	551
Total cash, cash equivalents and restricted cash	$ 10,528	$ 23,796	$ 11,242	$ 17,344

Nature of Business

Nature of Business	3 Months Ended
	Mar. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Business	1. Nature of Business T2 Biosystems, Inc. and its subsidiary (the “Company,” “we,” or “T2”) have operations based in Lexington, Massachusetts. T2 Biosystems, Inc. was incorporated on April 27, 2006 as a Delaware corporation. The Company is an in vitro Liquidity and Going Concern At March 31, 2022, the Company had cash, cash equivalents, marketable securities and restricted cash of $20.5 million, an accumulated deficit of $488.7 million, stockholders’ deficit of $25.7 million, and has historically experienced cash outflows from operating activities. The future success of the Company is dependent on its ability to successfully commercialize its products, obtain regulatory clearance for and successfully launch its future product candidates, obtain additional capital and ultimately attain profitable operations. Historically, the Company has funded its operations primarily through its August 2014 initial public offering, its December 2015 public offering, its September 2016 private investment in public equity (“PIPE”) financing, its September 2017 public offering, its June 2018 public offering, its July 2019 establishment of an Equity Distribution Agreement and Equity Purchase Agreement (Note 7), its March 2021 establishment of an Equity Distribution Agreement (Note 7), private placements of redeemable convertible preferred stock and through debt financing arrangements. The Company is subject to a number of risks similar to other early commercial stage life science companies, including, but not limited to commercially launching the Company’s products, development and market acceptance of the Company’s product candidates, development by its competitors of new technological innovations, protection of proprietary technology, and raising additional capital. The COVID-19 pandemic has impacted and may continue to impact operations. The Company has established protocols for continued manufacturing, distribution and servicing of its products with safe social distancing and personal protective equipment measures and for remote work for certain employees not essential to on-site operations. To date these measures have been mostly successful but may not continue to function should the pandemic escalate and impact personnel. In 2020, the Company’s hospital customers restricted the sales team’s access to their facilities and as a result, the Company had significantly reduced sales and general and administrative staffing levels at the beginning of the COVID-19 pandemic to reduce expenses. The Company has since hired sales, marketing and medical and clinical affairs personnel. Although the Company did not see any material impact to accounts receivable during the period ended March 31, 2022, the Company’s exposure may increase if its customers continue to be adversely affected by the COVID-19 pandemic, including as a result of the spread of variants of the virus. Customers may reduce their purchases of products, depending on their needs and cash flow, which could negatively impact revenue. The Company has a significant development contract with BARDA and should BARDA reduce, cancel or not grant additional milestone projects, the Company’s ability to continue its future product development may be impacted. The ability of the Company’s shipping carriers to deliver products to customers may be disrupted. The Company has reviewed its suppliers and quantities of key materials and believes that it has sufficient stocks and alternate sources of critical materials including personal protective equipment should the supply chains become disrupted, although raw materials and plastics for the manufacturing of reagents and consumables are in high demand, and interruptions in supply are difficult to predict. As further described in Note 5, at the onset of the pandemic, the Company believed the pandemic’s impact on its sales would affect the recoverability of the value of T2-owned instruments and components. Since authorization from the United States Food and Drug Administration, or FDA, was obtained to market the T2Dx Instrument , T2Candida Panel , and T2Bacteria Panel , and E mergency Use Authorization, or EUA, was issued for the T2SARS-CoV-2 Panel , the Company has incurred significant commercialization expenses related to product sales, marketing, manufacturing and distribution. If the FDA rescinds EUA, the Company would be unable to sell its T2SARS-CoV-2 tests. The Company may seek to fund its operations through public equity, private equity or debt financings, as well as other sources. However, the Company may be unable to raise additional funds or enter into such other arrangements when needed, on favorable terms, or at all. The Company’s failure to raise capital or enter into such other arrangements if and when needed would have a negative impact on the Company’s business, results of operations, financial condition and the Company’s ability to develop and commercialize T2Dx, T2Candida, T2Bacteria, T2SARS-CoV-2, and other product candidates. Pursuant to the requirements of Accounting Standards Codification (“ASC”) 205-40, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern The Company believes that its cash, cash equivalents, marketable securities and restricted cash of $20.5 million at March 31, 2022 will not be sufficient to fund its current operating plan at least one year from issuance of these financial statements, as certain elements of our operating plan cannot be considered probable. Absent any reductions in current operating expenses, the Company believes it will require additional financing during the third quarter of 2022. Under ASC 205-40, the future receipt of potential funding from Co-Development partners and other resources cannot be considered probable at this time because none of the plans are entirely within the Company’s control. The Term Loan Agreement with CRG Servicing LLC (“CRG”) (Note 6) has certain covenants which require the Company to achieve certain annual revenue targets, whereby the Company is required to pay double the amount of any shortfall as an acceleration of principal payments, and maintain a minimum cash balance of $5.0 million. In June 2021, the Company achieved the revenue target for the twenty-four month period ended December 31, 2021. There can be no assurances that it will continue to be in compliance with the cash covenant in future periods without additional funding. In February 2022, CRG amended the Term Loan Agreement, extending the interest only period and maturity to December 30, 2023. The Company’s stock has been trading under $1.00. On November 5, 2021, the Company received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, for the last thirty consecutive business days, the bid price for the Company’s common stock had closed below the minimum per share requirement for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(a)(1). Under Nasdaq rules, the Company has 180 days (May 4, 2022) to regain compliance by increasing the stock price to over The Company has filed an appeal and hearing request to the Nasdaq Staff’s determination which will stay the delisting of the Company’s shares of common stock from Nasdaq pending the Panel’s decision. The Nasdaq Staff has informed the Company that the delisting action has been stayed, pending a final written decision by the Panel, and the hearing date has been set for June 2, 2022. There can be no assurance that the Panel will grant the Company’s request for continued listing; however, the Company intends to present a plan to regain compliance to the Panel that includes a discussion of the events that it believes will enable it to regain compliance in this timeframe and a commitment to effect a reverse stock split, if necessary. These conditions raise substantial doubt regarding the Company’s ability to continue as a going concern for a period of one year after the date that the financial statements are issued. Management's plans to alleviate the conditions that raise substantial doubt include raising additional funding, earning payments pursuant to the Company’s contract with BARDA, delaying certain research projects and capital expenditures and eliminating certain future operating expenses in order to fund operations at reduced levels for the Company to continue as a going concern for a period of 12 months from the date the financial statements are issued. Management has concluded the likelihood that its plan to successfully obtain sufficient funding from one or more of these sources or adequately reduce expenditures, while reasonably possible, is less than probable. Accordingly, the Company has concluded that substantial doubt exists about the Company’s ability to continue as a going concern for a period of at least 12 months from the date of issuance of these consolidated financial statements. The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described above.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The Company’s financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative United States GAAP as defined in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). The Company’s condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, T2 Biosystems Securities Corporation. All intercompany balances and transactions have been eliminated. Unaudited Interim Financial Information Certain information and footnote disclosures normally included in the Company’s annual financial statements have been condensed or omitted. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The accompanying interim condensed consolidated balance sheet as of March 31, 2022, the condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2022 and 2021, the condensed consolidated statements of stockholders’ deficit for the three months ended March 31, 2022 and 2021, the condensed consolidated statements of cash flows for the three months ended March 31, 2022 and 2021 and the related financial data and other information disclosed in these notes are unaudited. The unaudited interim financial statements have been prepared on the same basis as the audited annual financial statements, and, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary for the fair presentation of the Company’s financial position as of March 31, 2022, and the results of its operations for the three months ended March 31, 2022 and 2021 and its cash flows for the three months ended March 31, 2022 and 2021. The results for the three months ended March 31, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022, any other interim periods, or any future year or period. Segment Information Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is the Chief Executive Officer. The Company views its operations and manages its business in one operating segment, which is the business of developing and, upon regulatory clearance, commercializing its diagnostic products aimed at lowering mortality rates, improving patient outcomes and reducing the cost of healthcare by helping medical professionals make targeted treatment decisions earlier. Geographic Information The Company sells its products domestically and internationally. Total international sales were approximately $1.0 million or 13% of total revenue and $0.5 million or 7% of total revenue for the three months ended March 31, 2022 and 2021, respectively. For the three months ended March 31, 2022 and 2021, no international customer represented greater than 10% The Company derived approximately 47 % of its total revenue from one customer for the three months ended March 31 , 202 2 and 33 % of its total revenue from the same customer for the three months ended March 31, 2021 . T he Company derived approximately 9 % of its total revenue from a second customer for the three months ended March 31, 2022 and % of its total revenue from the same customer for the three months ended March 31, 2021 . As of March 31, 2022 and December 31, 2021, the Company had outstanding receivables of $0.7 million and $0.6 million, respectively, from customers located outside of the U.S. Net Loss Per Share Basic net loss per share is calculated by dividing net loss by the weighted-average number of shares of common stock outstanding during the period, without consideration for common stock equivalents. Diluted net loss per share is calculated by adjusting the weighted-average number of shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury-stock method. For purposes of the diluted net loss per share calculation, stock options and unvested restricted stock and restricted stock contingently issuable upon achievement of certain market conditions are considered to be common stock equivalents, but have been excluded from the calculation of diluted net loss per share, as their effect would be anti-dilutive for all periods presented. Therefore, basic and diluted net loss per share applicable to common stockholders was the same for all periods presented. Marketable Securities The Company’s marketable securities consist of U.S. treasury securities, which are classified as available-for-sale and included in current assets. Available-for-sale debt securities are carried at fair value with unrealized gains and losses reported as a component of stockholders’ deficit in accumulated other comprehensive (loss) income. Realized gains and losses, if any, are included in other income in the condensed consolidated statements of operations. Available-for-sale securities are reviewed for possible impairment at least quarterly, or more frequently if circumstances arise that may indicate impairment. When the fair value of the securities declines below the amortized cost basis, impairment is indicated and it must be determined whether it is other than temporary. Impairment is considered to be other than temporary if the Company: (i) intends to sell the security, (ii) will more likely than not be forced to sell the security before recovering its cost, or (iii) does not expect to recover the security’s amortized cost basis. If the decline in fair value is considered other than temporary, the cost basis of the security is adjusted to its fair market value and the realized loss is reported in earnings. Subsequent increases or decreases in fair value are reported as a component of stockholders’ deficit in accumulated other comprehensive loss (income). There were no other-than-temporary unrealized losses as of March 31, 2022. The following table summarizes the Company’s marketable securities at March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. treasury securities $ 10,000 $ — $ (11 ) $ 9,989 Total $ 10,000 $ — $ (11 ) $ 9,989 December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. treasury securities 10,000 — (4 ) 9,996 Total $ 10,000 $ — $ (4 ) $ 9,996 The following table summarizes the maturities of the Company’s marketable securities at March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 December 31, 2021 Amortized Cost Fair Value Amortized Cost Fair Value Due in less than 1 year $ 10,000 $ 9,989 $ 10,000 $ 9,996 Due in 1-2 years — — — — Total $ 10,000 $ 9,989 $ 10,000 $ 9,996 Guarantees As permitted under Delaware law, the Company indemnifies its officers and directors for certain events or occurrences while each such officer or director is, or was, serving at the Company’s request in such capacity. The term of the indemnification is the officer’s or director’s lifetime. The maximum potential amount of future payments the Company could be required to make is unlimited; however, the Company has directors’ and officers’ liability insurance coverage that limits its exposure and enables the Company to recover a portion of any future amounts paid. The Company leases office, laboratory and manufacturing space under noncancelable operating leases. The Company has standard indemnification arrangements under the leases that require it to indemnify the landlords against all costs, expenses, fines, suits, claims, demands, liabilities, and actions directly resulting from any breach, violation or nonperformance of any covenant or condition of the Company’s leases. In the ordinary course of business, the Company enters into indemnification agreements with certain suppliers and business partners where the Company has certain indemnification obligations limited to the costs, expenses, fines, suits, claims, demands, liabilities and actions directly resulting from the Company’s gross negligence or willful misconduct, and in certain instances, breaches, violations or nonperformance of covenants or conditions under the agreements. As of March 31, 2022 and December 31, 2021, the Company had not experienced any material losses related to these indemnification obligations, and no material claims with respect thereto were outstanding. The Company does not expect significant claims related to these indemnification obligations and, consequently, concluded that the fair value of these obligations is negligible, and no related reserves were established. Leases Pursuant to Topic 842, Leases In accordance with the guidance in ASC 842, components of a lease should be split into three categories: lease components (e.g. land, building, etc.), non-lease components (e.g. common area maintenance, consumables, etc.), and non-components (e.g. property taxes, insurance, etc.). Then the fixed and in-substance fixed contract consideration (including any related to non-components) must be allocated based on the respective relative fair values to the lease components and non-lease components. The Company made the policy election to not separate lease and non-lease components. Each lease component and the related non-lease components are accounted for together as a single component. Revenue Recognition The Company generates revenue from the sale of instruments, consumable diagnostic tests, related services, reagent rental agreements and government contributions. Pursuant to ASC 606, Revenue from Contracts with Customers • Identification of a contract with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations • Recognition of revenue as a performance obligation is satisfied The amount of revenue recognized reflects the consideration the Company expects to be entitled to receive in exchange for these goods and services. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company's performance obligations are transferred to customers at a point in time, typically upon shipment, or over time, as services are performed. Most of the Company’s contracts with distributors in geographic regions outside the United States contain only a single performance obligation, whereas most of the Company’s contracts with direct sales customers in the United States contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Excluded from the transaction price are sales tax and other similar taxes which are presented on a net basis. Product revenue is generated by the sale of instruments and consumable diagnostic tests predominantly through the Company’s direct sales force in the United States and distributors in geographic regions outside the United States. The Company does not offer product return or exchange rights (other than those relating to defective goods under warranty) or price protection allowances to its customers, including its distributors. Payment terms granted to distributors are the same as those granted to end-user customers and payments are not dependent upon the distributors’ receipt of payment from their end-user customers. The Company either sells instruments to customers and international distributors, or retains title and places the instrument at the customer site pursuant to a reagent rental agreement. When an instrument is purchased by a customer or international distributor, the Company recognizes revenue when the related performance obligation is satisfied (i.e. when the control of an instrument has passed to the customer; typically, at shipping point). When the instrument is placed under a reagent rental agreement, the Company’s customers generally agree to fixed term agreements, which can be extended, and incremental charges on each consumable diagnostic test purchased. Revenue from the sale of consumable diagnostic tests (under a reagent rental agreement) is generally recognized upon shipment. The transaction price from consumables purchases is allocated between the lease of the instrument (under a contingent rent methodology as provided for in ASC 842, Leases Revenue from the sale of consumable diagnostic tests (under instrument purchase agreements) is generally recognized upon shipment. Shipping and handling costs billed to customers in connection with a product sale are recorded as a component of the transaction price and allocated to product revenue in the condensed consolidated statements of operations and comprehensive loss as they are incurred by the Company in fulfilling its performance obligations. Direct sales of instruments include warranty, maintenance and technical support services typically for one year following the installation of the purchased instrument (“Maintenance Services”). Maintenance Services are separate performance obligations as they are service-based warranties and are recognized on a straight-line basis over the service delivery period. After the completion of the initial Maintenance Services period, customers have the option to renew or extend the Maintenance Services typically for additional one-year Fees paid to member-owned group purchasing organizations (“GPOs”) are deducted from related product revenues. The Company warrants that consumable diagnostic tests will be free from defects, when handled according to product specifications, for the stated life of the product. To fulfill valid warranty claims, the Company provides replacement product free of charge. Warranty expense is recognized based on the estimated defect rates of the consumable diagnostic tests. Contribution Revenue Income under the government BARDA contract is earned under a cost-sharing arrangement in which the Company is reimbursed for direct costs incurred plus allowable indirect costs. The g overnment contract revenue is recognized as the related reimbursable expenses are incurred. The cost reimbursement that is reported as revenue is presented gross of the related reimbursable expenses in the Company’s consolidated statements of operations; the related reimbursable expenses are expensed as incurred as research and development expense. The Company accounts for these contracts as a government grant which analogizes with International Accounting Standards 20 (“IAS 20”), Accounting for Government Grants and Disclosure of Government Assistance . The Company has a significant development contract with BARDA and should BARDA reduce, cancel or not grant additional milestone projects, the Company’s ability to continue future product development may be impacted. Refer to Note 11 for further details regarding the development contract with BARDA. Disaggregation of Revenue The Company disaggregates revenue from contracts with customers by type of products and services, as it best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The following table disaggregates our revenue by major source (in thousands): Three Months Ended, March 31, 2022 2021 Product revenue Instruments $ 876 $ 425 Consumables 2,950 4,206 Instrument rentals 18 19 Total product revenue 3,844 4,650 Contribution revenue 3,390 2,306 Total revenue $ 7,234 $ 6,956 Remaining Performance Obligations Under ASC 606, the Company is required to disclose the aggregate amount of the transaction price that is allocated to unsatisfied or partially satisfied performance obligations as of March 31, 2022. However, the guidance provides certain practical expedients that limit this requirement, and therefore, the Company has elected to not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. The nature of the excluded unsatisfied performance obligations pursuant to the practical expedient include consumable shipments, service contracts, warranties and installation services that will be performed within one year. The amount of the transaction price that is allocated to unsatisfied or partially satisfied performance obligations, that has not yet been recognized as revenue and that does not meet the elected practical expedient is $0.2 million as of March 31, 2022. The Company expects to recognize 86% of this amount as revenue within one year and the remainder within two years. Significant Judgments Certain contracts with customers include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. Once the performance obligations are determined, the Company determines the transaction price, which includes estimating the amount of variable consideration, based on the most likely amount, to be included in the transaction price, if any. The Company then allocates the transaction price to each performance obligation in the contract based on a relative standalone selling price method. The corresponding revenue is recognized as the related performance obligations are satisfied as discussed in the revenue categories above. Judgment is required to determine the standalone selling price for each distinct performance obligation. The Company determines standalone selling price based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as a range of selling prices, market conditions and the expected costs and margin related to the performance obligations. Contract Assets and Liabilities The Company did not record any contract assets at March 31, 2022 and December 31, 2021. The Company’s contract liabilities consist of upfront payments for research and development contracts and maintenance services on instrument sales. Contract liabilities are classified in deferred revenue as current or noncurrent based on the timing of when revenue is expected to be recognized. Contract liabilities were $0.4 million and $0.5 million at March 31, 2022 and December 31, 2021, respectively. Revenue recognized during the three months ended March 31, 2022 relating to contract liabilities at December 31, 2021 was $0.2 million and related to straight-line revenue recognition associated with maintenance agreements. Cost to Obtain and Fulfill a Contract The Company capitalizes commission expenses paid to sales personnel that are recoverable and incremental to obtaining capital purchase agreements within the United States. These costs are classified as prepaid expenses and other current assets and other assets, based on their current or non-current nature, respectively. The Company capitalizes only those costs that are determined to be incremental and would not have occurred absent the customer contract. These capitalized costs are amortized as selling, general and administrative costs on a straight line basis over the expected period of benefit. These costs are reviewed periodically for impairment. At both March 31, 2022 and December 31, 2021, capitalized costs to fulfill contracts of $0.1 million was included in prepaid and other current assets and less than $0.1 million was included in other non-current assets Cost of Product Revenue Cost of product revenue includes the cost of materials, direct labor and manufacturing overhead costs used in the manufacture of consumable diagnostic tests sold to customers, related warranty and license and royalty fees. Cost of product revenue also includes depreciation on T2-owned revenue generating T2Dx instruments that have been placed with customers under reagent rental agreements; costs of materials, direct labor and manufacturing overhead costs on the T2Dx instruments sold to customers; and other costs such as customer support costs, royalties and license fees, warranty and repair and maintenance expense on the T2Dx instruments that have been placed with customers under reagent rental agreements. Research and Development Costs Costs incurred in the research and development of the Company’s product candidates are expensed as incurred. Research and development expenses consist of costs incurred in performing research and development activities, including activities associated with delivering products or services associated with contribution revenue, clinical trials to evaluate the clinical utility of our product candidates, and costs associated with the enhancements of developed products. These costs include salaries and benefits, stock compensation, research‑related facility and overhead costs, laboratory supplies, equipment and contract services. Recent Accounting Standards From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption. Accounting Standards Adopted In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40)—Accounting for Convertible Instruments and Contracts in an Entity's Own Equity In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (“ASU 2021-04”) In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance . This ASU requires certain disclosures when companies (a) have received government assistance and (b) use a grant or contribution accounting model by analogy to other accounting guidance. A company that has received government assistance must provide disclosures related to the nature of the transaction, accounting policies used to account for the transaction, and the amounts and line items on the financial statements that are affected by the transaction. This ASU is effective for fiscal years beginning after December 15, 2021, with early adoption permitted, and can be applied either prospectively or retrospectively. The Company adopted this standard as of January 1, 2022.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements The Company measures the following financial assets at fair value on a recurring basis. There were no transfers between levels of the fair value hierarchy during any of the periods presented. The following tables set forth the Company’s financial assets and liabilities carried at fair value categorized using the lowest level of input applicable to each financial instrument as of March 31, 2022 and December 31, 2021 (in thousands): Balance at March 31, 2022 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: US Treasury securities $ 9,989 $ 9,989 $ — $ — $ 9,989 $ 9,989 $ — $ — Balance at December 31, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: US Treasury securities 9,996 9,996 — — $ 9,996 $ 9,996 $ — $ — The Company’s cash equivalents and available-for-sale marketable securities are comprised of government securities. Securities are classified as cash equivalents when the original maturities are within 90 days of the purchase dates. The Company also maintains money market accounts classified as restricted cash for $1.1 million at March 31, 2022 and $1.6 million at December 31, 2021 (Note 4).

Restricted Cash

Restricted Cash	3 Months Ended
	Mar. 31, 2022
Restricted Cash [Abstract]
Restricted Cash	4. Restricted Cash The Company is required to maintain security deposits for its operating lease agreements for the duration of the lease agreements. At March 31, 2022, the Company had money market accounts for $1.1 million, which represented collateral as security deposits for its operating lease agreements for two facilities. At December 31, 2021, the Company had money market accounts for $1.6 million, which represented collateral as security deposits for its operating lease agreements for three facilities.

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	3 Months Ended
	Mar. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Supplemental Balance Sheet Information	5. Supplemental Balance Sheet Information Inventories Inventories are stated at the lower of cost or net realizable value on a first-in, first-out basis and are comprised of the following (in thousands): March 31, 2022 December 31, 2021 Raw materials $ 2,400 $ 1,591 Work-in-process 1,418 953 Finished goods 1,354 1,365 Total inventories, net $ 5,172 $ 3,909 Property and Equipment Property and equipment consist of the following (in thousands): March 31, 2022 December 31, 2021 Office and computer equipment $ 749 $ 749 Software 783 783 Laboratory equipment 5,496 5,507 Furniture 197 197 Manufacturing equipment 1,445 1,445 Manufacturing tooling and molds 478 478 T2-owned instruments and components 6,939 6,668 Leasehold improvements 3,785 3,768 Construction in progress 600 512 20,472 20,107 Less accumulated depreciation and amortization (15,694 ) (15,432 ) Property and equipment, net $ 4,778 $ 4,675 Construction in progress is primarily comprised of equipment that has not been placed in service. T2-owned instruments and components is comprised of raw materials and work-in-process inventory that are expected to be used or used to produce T2-owned instruments, based on the Company’s business model and forecast, and completed instruments that will be used for internal research and development, clinical studies or reagent rental agreements with customers. At March 31, 2022, there was $1.2 million of raw materials or work-in-process inventory in T2-owned instruments and components compared with $1.4 million at December 31, 2021. Completed T2-owned instruments are placed in service once installation procedures are completed and are depreciated over five years. Depreciation expense for T2-owned instruments placed at customer sites pursuant to reagent rental agreements is recorded as a component of cost of product revenue and was immaterial for the three months ended March 31, 2022 and 2021. Depreciation expense for T2-owned instruments used for internal research and development and clinical studies is recorded as a component of research and development expense. Depreciation and amortization expense of $0.3 million and $0.4 million was charged to operations for the three months ended March 31, 2022 and 2021, respectively. . Accrued Expenses Accrued expenses consist of the following (in thousands): March 31, 2022 December 31, 2021 Accrued payroll and compensation $ 4,320 $ 3,687 Accrued research and development expenses 914 1,250 Accrued professional services 421 384 Accrued interest 1,106 974 Operating lease liabilities 1,195 1,174 Other accrued expenses 994 869 Total accrued expenses and other current liabilities $ 8,950 $ 8,338

Notes Payable

Notes Payable	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Notes Payable	6. Notes Payable Future principal payments on the notes payable are as follows (in thousands): March 31, 2022 December 31, 2021 Term loan agreement including PIK interest, before unamortized discount and issuance costs $ 51,140 $ 49,364 Less: unaccrued paid-in-kind interest (2,642 ) (1,287 ) Less: unamortized discount and deferred issuance costs (241 ) (287 ) Total notes payable $ 48,257 $ 47,790 The Term Loan Agreement with CRG is classified as a non-current liability at March 31, 2022 and December 31, 2021 as the Company has sufficient cash, cash equivalents and marketable securities as of the date of this filing such that the minimum liquidity covenant would not be triggered. The Term Loan Agreement includes a subjective acceleration clause whereby an event of default, including a material adverse change in the business, operations, or conditions (financial or otherwise), could result in the acceleration of the obligations under the Term Loan Agreement. As amended in February 2022, the entire principal payment, together with all other outstanding obligations, shall be due and payable upon maturity , December 30, 2023. The Company has assessed the classification of the note payable as non-current based on facts and circumstances as of the date of this filing, specifically as it relates to achieving the minimum liquidity and revenue covenants. Management continues to reassess at each balance sheet and filing date based on facts and circumstances and can provide no assurances regarding the probability of meeting its minimum liquidity covenant in future periods. Term Loan Agreement In December 2016, the Company entered into a Term Loan Agreement (the “Term Loan Agreement”) with CRG. The Company initially borrowed $40.0 million pursuant to the Term Loan Agreement, which has a six-year The Company may prepay all or a portion of the outstanding principal and accrued unpaid interest under the Term Loan Agreement at any time upon prior notice subject to a certain prepayment fee during the first five years of the term and no prepayment fee thereafter. As security for its obligations under the Term Loan Agreement the Company entered into a security agreement with CRG whereby the Company granted a lien on substantially all of its assets, including intellectual property. The Term Loan Agreement also contains customary affirmative and negative covenants for a credit facility of this size and type, including a requirement to maintain a minimum cash balance of $5.0 million. In 2019, the Term Loan Agreement was amended to reduce minimum revenue targets, extend the interest-only period and extend the principal repayment. The final payment fee was increased from 8% to 10% of the principal amount outstanding upon repayment. The Company issued to CRG warrants to purchase 568,291 shares of the Company’s common stock (“New Warrants”) (Note 9) at an exercise price of $1.55, with typical provisions for termination upon a change of control or a sale of all or substantially all of the assets of the Company. The Company also reduced the exercise price for the warrants previously issued to CRG to purchase an aggregate of 528,958 shares of the Company’s common stock to $1.55. All of the New Warrants are exercisable any time prior to September 9, 2029, and all of the previously issued warrants are exercisable any time prior to December 30, 2026. In January 2021, the Term Loan Agreement was amended to extend the interest-only payment period until the December 30, 2022 maturity, to extend the initial principal repayment until the December 30, 2022 maturity, and to significantly reduce the minimum product revenue target for the twenty-four month period beginning on January 1, 2020. The Company did not pay or provide any consideration in exchange for this amendment. The Company accounted for the January 2021 amendment as a modification to the Term Loan Agreement. In February 2022, the Term Loan Agreement was amended to extend the interest-only payment period through December 30, 2023, and to extend the principal repayment to December 30, 2023. The Company did not pay or provide any consideration in exchange for this amendment. As the effective borrowing rate under the amended agreement is less than the effective borrowing rate under the previous agreement, a concession is deemed to have been granted under ASC 470-60. As a concession has been granted, the agreement was accounted for as a troubled debt restructuring under ASC 470-60. The amendment did not result in a gain on restructuring as the future undiscounted cash outflows required under the amended agreement exceed the carrying value of the debt immediately prior to the amendment. The Term Loan Agreement includes a subjective acceleration clause whereby an event of default, including a material adverse change in the business, operations, or conditions (financial or otherwise), could result in the acceleration of the obligations under the Term Loan Agreement. Under certain circumstances, a default interest rate of an additional 4.0% per annum will apply at the election of CRG on all outstanding obligations during the occurrence and continuance of an event of default.

Stockholders' Deficit

Stockholders' Deficit	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders' Deficit	7. Stockholders’ Deficit Shares Authorized In July 2021, the Company’s shareholders approved of an increase in the number of authorized shares of the Company’s common stock from 200,000,000 to 400,000,000. Equity Distribution Agreement On March 31, 2021, the Company entered into a Sales Agreement with Canaccord (“New Sales Agreement”), as agent, pursuant to which the Company may offer and sell shares of common stock, for aggregate gross sale proceeds of up to $75.0 million from time to time from the effective date of the respective registration statement through Canaccord. Under the New Sales Agreement, upon delivery of a placement notice based on the Company’s instructions and subject to the terms and conditions of the Sales Agreement, Canaccord is able to sell the shares by methods deemed to be an “at the market” offering, subject to shelf limitations if any, in negotiated transactions at market prices prevailing at the time of sale or at prices related to such prevailing market prices, or by any other method permitted by law, including negotiated transactions, subject to the prior written consent of the Company. The Company is not obligated to make any sales of shares under the New Sales Agreement. The Company or Canaccord is able to suspend or terminate the offering of shares upon notice to the other party, subject to certain conditions. Canaccord acts as sales agent on a commercially reasonable efforts basis consistent with its normal trading and sales practices and applicable state and federal law, rules and regulations and the rules of Nasdaq. The Company agrees to pay Canaccord for its services of acting as agent an amount equal to 3% During the three months ended March 31, 2022, the Company sold 3,549,360 shares for net proceeds of $1.4 million under the New Sales Agreement. The Company sold no shares under the New Sales Agreement during the three months ended March 31, 2021.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	8. Stock-Based Compensation Stock Incentive Plans 2006 Stock Incentive Plan The Company’s 2006 Stock Option Plan (“2006 Plan”) was established for granting stock incentive awards to directors, officers, employees and consultants of the Company. Upon closing of the Company’s IPO in August 2014, the Company ceased granting stock incentive awards under the 2006 Plan. The 2006 Plan provided for the grant of incentive and non-qualified stock options and restricted stock grants as determined by the Company’s board of directors. Under the 2006 Plan, stock options were generally granted with exercise prices equal to or greater than the fair value of the common stock as determined by the board of directors, expired no later than 10 years from the date of grant, and vested over various periods not exceeding 4 years. 2014 Stock Incentive Plan The Company’s 2014 Incentive Award Plan (“2014 Plan”, and together with the 2006 Plan, the “Stock Incentive Plans”) provides for the issuance of shares of common stock in the form of stock options, awards of restricted stock, awards of restricted stock units, performance awards, dividend equivalent awards, stock payment awards and stock appreciation rights to directors, officers, employees and consultants of the Company. Since the establishment of the 2014 Plan, the Company has primarily granted stock options and restricted stock units. Generally, stock options are granted with exercise prices equal to or greater than the fair value of the common stock on the date of grant, expire no later than 10 years from the date of grant, and vest over various periods not exceeding 4 years. The number of shares reserved for future issuance under the 2014 Plan is the sum of (1) 823,529 shares, (2) any shares that were granted under the 2006 Plan which are forfeited, lapse unexercised or are settled in cash subsequent to the effective date of the 2014 Plan and (3) an annual increase on the first day of each calendar year beginning January 1, 2015 and ending on January 1, 2026, equal to the lesser of (A) 4% of the shares outstanding (on an as-converted basis) on the final day of the immediately preceding calendar year and (B) such smaller number of shares determined by the Company’s board of directors; provided, however, no more than 35,000,000 shares may be issued upon the exercise of incentive stock options. As of March 31, 2022, there were 1,415,266 shares available for future grant under the 2014 Plan. Inducement Award Plan The Company’s Amended and Restated Inducement Award Plan (“Inducement Plan”), which was adopted in March 2018 and most recently amended and restated in January 2020, provides for the grant of equity awards to new employees, including options, restricted stock awards, restricted stock units, performance awards, dividend equivalent awards, stock payment awards and stock appreciation rights. The aggregate number of shares of common stock which may be issued or transferred pursuant to awards under the Inducement Plan is 9,625,000 shares. Any awards that forfeit, expire, lapse, or are settled for cash without the delivery of shares to the holder are available for the grant of an award under the Inducement Plan. Any shares repurchased by or surrendered to the Company that are returned shall be available for the grant of an award under the Inducement Plan. The payment of dividend equivalents in cash in conjunction with any outstanding award shall not be counted against the shares available for issuance under the Inducement Plan. As of March 31, 2022, there were 4,009,361 shares available for future grant under the Inducement Plan. Stock Options During the three months ended March 31, 2022 and 2021, the Company granted stock options with an aggregate fair value of $0.2 million and $0.6 million, respectively, which are being amortized into compensation expense over the vesting period of the options as the services are being provided. The following is a summary of option activity under the Stock Incentive Plans and Inducement Plan (in thousands, except share and per share amounts): Number of Shares Weighted-Average Exercise Price Per Share Weighted-Average Remaining Contractual Term (In years) Aggregate Intrinsic Value Outstanding at December 31, 2021 9,868,947 $ 2.88 7.09 $ 51 Granted 578,500 0.41 Exercised — — — — Forfeited (81,466 ) 1.01 Cancelled (426,205 ) 2.29 Outstanding at March 31, 2022 9,939,776 $ 2.77 7.25 $ 118 Exercisable at March 31, 2022 5,688,369 $ 4.07 6.16 $ 28 Vested or expected to vest at March 31, 2022 9,321,200 $ 2.89 7.14 $ 102 There were no options exercised in the three months ended March 31, 2022 and 42,626 options exercised in the three months ended March 31, 2021. The weighted-average grant date fair values of stock options granted in the three month periods ended March 31, 2022 and 2021 were $0.33 per share and $1.33 per share, respectively, and were calculated using the following estimated assumptions: Three Months Ended March 31, 2022 2021 Weighted-average risk-free interest rate 1.67 % 0.95 % Expected dividend yield — % — % Expected volatility 105 % 104 % Expected terms 6.0 years 6.0 years The total fair values of options that vested during the three months ended March 31, 2022 and 2021 were $0.6 million and $0.6 million, respectively. As of March 31, 2022, there was $3.2 million of total unrecognized compensation cost related to non-vested stock options granted under the Stock Incentive Plans and Inducement Plan. Total unrecognized compensation cost will be adjusted for future changes in the estimated forfeiture rate. The Company expects to recognize that cost over a remaining weighted-average period of 2.4 years as of March 31, 2022. Restricted Stock Units During the three months ended March 31, 2022, the Company awarded restricted stock units to certain employees and directors at no cost to them. The restricted stock units, excluding any restricted stock units with market conditions, vest through the passage of time, assuming continued service. Restricted stock units are not included in issued and outstanding common stock until the underlying shares are vested and released. The fair value of the restricted stock units, at the time of the grant, is expensed on a straight line basis. The granted restricted stock units had an aggregate fair value of $3.6 million, which are being amortized into compensation expense over the vesting period of the restricted stock units as the services are being provided. The following is a summary of restricted stock unit activity under the 2014 Plan: Number of Shares Weighted-Average Grant Date Fair Value Per Share Nonvested at December 31, 2021 7,120,475 $ 1.84 Granted 7,883,807 0.46 Vested (2,002,048 ) 2.02 Forfeited (106,849 ) 1.50 Nonvested at March 31, 2022 12,895,385 $ 0.97 As of March 31, 2022, there was $11.5 million of total unrecognized compensation cost related to nonvested restricted stock units granted. Total unrecognized compensation cost will be adjusted for future changes in the estimated forfeiture rate. The Company expects to recognize that cost over a remaining weighted-average period of 2.1 years, as of March 31, 2022. Employee Stock Purchase Plan Under the 2014 Employee Stock Purchase Plan (the “2014 ESPP”) participants may purchase the Company’s common stock during semi-annual offering periods at 85% of the lower of (i) the market value per share of common stock on the first day of the offering period or (ii) the market value per share of the common stock on the purchase date. Each participant can purchase up to a maximum of $25,000 per calendar year in fair market value as calculated in accordance with applicable tax rules. The first offering period began on August 7, 2014. Stock-based compensation expense from the 2014 ESPP for the three months ended March 31, 2022 and 2021 was approximately $0.1 million and $0.1 million, respectively. The 2014 ESPP, which was amended and restated effective August 6, 2020, provides for the issuance of up to 4,523,944 shares of the Company’s common stock to eligible employees. At March 31, 2022, there were 2,623,655 shares available for issuance under the 2014 ESPP. Stock-Based Compensation Expense The following table summarizes the stock-based compensation expense resulting from awards granted under Stock Incentive Plans, the Inducement Plan and the 2014 ESPP, that was recorded in the Company’s results of operations for the periods presented (in thousands): Three Months Ended March 31, 2022 2021 Cost of product revenue $ 129 $ 47 Research and development 422 178 Selling, general and administrative 1,994 1,068 Total stock-based compensation expense $ 2,545 $ 1,293 For the three months ended March 31, 2022 and 2021, stock-based compensation expenses capitalized as part of inventory or T2Dx instruments and components were immaterial. .

Warrants

Warrants	3 Months Ended
	Mar. 31, 2022
Warrants And Rights Note Disclosure [Abstract]
Warrants	9. Warrants In connection with the Term Loan Agreement entered into in December 2016, the Company issued to CRG warrants to purchase a total of 528,958 shares of the Company’s common stock. The warrants are exercisable any time prior to December 30, 2026 at a price of $1.55 per share, with typical provisions for termination upon a change of control or a sale of all or substantially all of the assets of the Company. These warrants remain outstanding as of March 31, 2022 and December 31, 2021 . In connection with a 2019 amendment of the Term Loan Agreement, the Company issued to CRG warrants to purchase 568,291 shares of the Company’s common stock (“New Warrants”) at an exercise price of $1.55, with typical provisions for termination upon a change of control or a sale of all or substantially all of the assets of the Company. All of the New Warrants are exercisable any time prior to September 9, 2029. The New Warrants remain outstanding as of March 31, 2022 .

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Loss Per Share	10. Net Loss Per Share The following shares were excluded from the calculation of diluted net loss per share applicable to common stockholders, prior to the application of the treasury stock method, because their effect would have been anti-dilutive for the periods presented: Three Months Ended March 31, 2022 2021 Options to purchase common shares 9,939,776 8,974,627 Restricted stock units 12,895,385 6,857,896 Warrants to purchase common stock 1,097,249 1,097,249 Total 23,932,410 16,929,772

US Government Contract

US Government Contract	3 Months Ended
	Mar. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
US Government Contract	11. U.S. Government Contract In September 2019, the Biomedical Advanced Research and Development Authority (“BARDA”) awarded the Company a milestone-based contract, with an initial value of $6.0 million, and a potential value of up to $69.0 million, if BARDA awards all contract options (the “U.S. Government Contract”). BARDA operates within the Office of the Assistant Secretary for Preparedness and Response (“ASPR”) at the U.S. Department of Health and Human Services (“HHS”). If BARDA awards and the Company completes all options, the Company’s management believes it will enable a significant expansion of the Company’s current portfolio of diagnostics for sepsis-causing pathogen and antibiotic resistance genes. In September 2020, BARDA exercised the first contract option valued at $10.5 million. In September 2021, BARDA exercised an option valued at approximately $6.4 million. In April 2021, BARDA agreed to accelerate product development by modifying the contract to advance future deliverables into the currently funded Option 1 of the BARDA contract for T2NxT, T2Biothreat, T2Resistance and T2AMR. The modification does not change the overall total potential value of the BARDA contract. On March 31, 2022, the Company announced that BARDA had exercised Option 2B under the existing multiple-year cost-share contract between BARDA and the Company and is providing an additional $4.4 million in funding to the Company. The additional funding under Option 2B will be used to advance the U.S. clinical trials for the T2Biothreat ® ® The option exercise occurred simultaneously on March 31, 2022 with a modification to the BARDA contract to make immaterial changes to, among other things, the statement of work. The Company recorded contribution revenue of $3.4 million and $2.3 million for the three months ended March 31, 2022 and 2021, respectively, under the BARDA contract. The Company had outstanding accounts receivable of $2.2 million and $1.9 million at March 31, 2022 and December 31, 2021, respectively, under the BARDA contract.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	12. Leases Operating Leases The Company leases certain office space, laboratory space and manufacturing space. At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present. The Company does not recognize right-of-use assets or lease liabilities for leases determined to have a term of 12 months or less. For new and amended leases, the Company has elected to account for the lease and non-lease components as a combined lease component. In November 2014, the Company entered into an agreement to rent additional office space in Lexington, Massachusetts. In April 2015, the Company entered into an amendment to extend the term to December 31, 2017. In connection with this agreement, the Company paid a security deposit of $50,000, which is recorded as a component of other assets in the condensed consolidated balance sheets. In May 2015, the Company entered into an amendment to expand existing manufacturing facilities in Lexington, Massachusetts. In September 2017, the Company entered into an amendment to extend the term to December 31, 2021. In June 2020, the Company vacated this office space and determined that subleasing it to a tenant was unlikely due to the impact of the COVID-19 pandemic on the local commercial real estate sub-lease market. The lease terminated on December 31, 2021. In November 2014, the Company entered into a lease for additional laboratory space in Lexington, Massachusetts. The lease term commenced in April 2015 and extended for six years. The rent expense, inclusive of the escalating rent payments, is recognized on a straight-line basis over the lease term. As an incentive to enter into the lease, the landlord paid approximately $1.4 million of the $2.2 million space build-out costs. The unamortized balance of the lease incentive as of January 1, 2019 was reclassified as a reduction to the initial recognition of the right-of-use asset related to this lease. In connection with this lease agreement, the Company paid a security deposit of $281,000, which was recorded as a component of both prepaid expenses and other current assets and other assets in the condensed consolidated balance sheets at December 31, 2019. In October 2020, the Company entered into an amendment to extend the term of the lease to October 31, 2025. In accordance with this amendment, the Company paid a replacement security deposit of $130,977, which is classified as restricted cash at March 31, 2022 and December 31, 2021 and received the initial $281,000 security deposit in return. In September 2021, the Company entered into a lease for office, research, laboratory and manufacturing space in Billerica, Massachusetts. The lease has a term of 126 months from the commencement date. The commencement date is anticipated to be in fiscal year 2022; therefore, there is no effect on the operating lease right-of-use assets and lease liability accounts at March 31, 2022. The Company opened a money market account for $1.0 million, which represents collateral as a security deposit for this lease and is classified as restricted cash at March 31, 2022. Operating leases are amortized over the lease term and included in costs and expenses in the condensed consolidated statement of operations and comprehensive loss. Variable lease costs are recognized in costs and expenses in the condensed consolidated statement of operations and comprehensive loss as incurred.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies License Agreement In 2006, the Company entered into a license agreement with a third party, pursuant to which the third party granted the Company an exclusive, worldwide, sublicenseable license under certain patent rights to make, use, import and commercialize products and processes for diagnostic, industrial and research and development purposes. The Company agreed to pay an annual license fee ranging from $5,000 to $25,000 for the royalty‑bearing license to certain patents. The Company also issued a total of 84,678 shares of common stock pursuant to the agreement in 2006 and 2007, which were recorded at fair value at the date of issuance. The Company is required to pay royalties on net sales of products and processes that are covered by patent rights licensed under the agreement at a percentage ranging between 0.5% - 3.5%, subject to reductions and offsets in certain circumstances, as well as a royalty on net sales of products that the Company sublicenses at 10% of specified gross revenue. Royalties that became due under this agreement for the three months ended March 31, 2022 and 2021 were immaterial.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company’s financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to the authoritative United States GAAP as defined in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). The Company’s condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, T2 Biosystems Securities Corporation. All intercompany balances and transactions have been eliminated.
Unaudited Interim Financial Information	Unaudited Interim Financial Information Certain information and footnote disclosures normally included in the Company’s annual financial statements have been condensed or omitted. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The accompanying interim condensed consolidated balance sheet as of March 31, 2022, the condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2022 and 2021, the condensed consolidated statements of stockholders’ deficit for the three months ended March 31, 2022 and 2021, the condensed consolidated statements of cash flows for the three months ended March 31, 2022 and 2021 and the related financial data and other information disclosed in these notes are unaudited. The unaudited interim financial statements have been prepared on the same basis as the audited annual financial statements, and, in the opinion of management, reflect all adjustments, consisting of normal recurring adjustments, necessary for the fair presentation of the Company’s financial position as of March 31, 2022, and the results of its operations for the three months ended March 31, 2022 and 2021 and its cash flows for the three months ended March 31, 2022 and 2021. The results for the three months ended March 31, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022, any other interim periods, or any future year or period.
Segment Information	Segment Information Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is the Chief Executive Officer. The Company views its operations and manages its business in one operating segment, which is the business of developing and, upon regulatory clearance, commercializing its diagnostic products aimed at lowering mortality rates, improving patient outcomes and reducing the cost of healthcare by helping medical professionals make targeted treatment decisions earlier.
Geographic Information	Geographic Information The Company sells its products domestically and internationally. Total international sales were approximately $1.0 million or 13% of total revenue and $0.5 million or 7% of total revenue for the three months ended March 31, 2022 and 2021, respectively. For the three months ended March 31, 2022 and 2021, no international customer represented greater than 10% The Company derived approximately 47 % of its total revenue from one customer for the three months ended March 31 , 202 2 and 33 % of its total revenue from the same customer for the three months ended March 31, 2021 . T he Company derived approximately 9 % of its total revenue from a second customer for the three months ended March 31, 2022 and % of its total revenue from the same customer for the three months ended March 31, 2021 . As of March 31, 2022 and December 31, 2021, the Company had outstanding receivables of $0.7 million and $0.6 million, respectively, from customers located outside of the U.S.
Net Loss Per Share	Net Loss Per Share Basic net loss per share is calculated by dividing net loss by the weighted-average number of shares of common stock outstanding during the period, without consideration for common stock equivalents. Diluted net loss per share is calculated by adjusting the weighted-average number of shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury-stock method. For purposes of the diluted net loss per share calculation, stock options and unvested restricted stock and restricted stock contingently issuable upon achievement of certain market conditions are considered to be common stock equivalents, but have been excluded from the calculation of diluted net loss per share, as their effect would be anti-dilutive for all periods presented. Therefore, basic and diluted net loss per share applicable to common stockholders was the same for all periods presented.
Marketable Securities	Marketable Securities The Company’s marketable securities consist of U.S. treasury securities, which are classified as available-for-sale and included in current assets. Available-for-sale debt securities are carried at fair value with unrealized gains and losses reported as a component of stockholders’ deficit in accumulated other comprehensive (loss) income. Realized gains and losses, if any, are included in other income in the condensed consolidated statements of operations. Available-for-sale securities are reviewed for possible impairment at least quarterly, or more frequently if circumstances arise that may indicate impairment. When the fair value of the securities declines below the amortized cost basis, impairment is indicated and it must be determined whether it is other than temporary. Impairment is considered to be other than temporary if the Company: (i) intends to sell the security, (ii) will more likely than not be forced to sell the security before recovering its cost, or (iii) does not expect to recover the security’s amortized cost basis. If the decline in fair value is considered other than temporary, the cost basis of the security is adjusted to its fair market value and the realized loss is reported in earnings. Subsequent increases or decreases in fair value are reported as a component of stockholders’ deficit in accumulated other comprehensive loss (income). There were no other-than-temporary unrealized losses as of March 31, 2022. The following table summarizes the Company’s marketable securities at March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. treasury securities $ 10,000 $ — $ (11 ) $ 9,989 Total $ 10,000 $ — $ (11 ) $ 9,989 December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. treasury securities 10,000 — (4 ) 9,996 Total $ 10,000 $ — $ (4 ) $ 9,996 The following table summarizes the maturities of the Company’s marketable securities at March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 December 31, 2021 Amortized Cost Fair Value Amortized Cost Fair Value Due in less than 1 year $ 10,000 $ 9,989 $ 10,000 $ 9,996 Due in 1-2 years — — — — Total $ 10,000 $ 9,989 $ 10,000 $ 9,996
Guarantees	Guarantees As permitted under Delaware law, the Company indemnifies its officers and directors for certain events or occurrences while each such officer or director is, or was, serving at the Company’s request in such capacity. The term of the indemnification is the officer’s or director’s lifetime. The maximum potential amount of future payments the Company could be required to make is unlimited; however, the Company has directors’ and officers’ liability insurance coverage that limits its exposure and enables the Company to recover a portion of any future amounts paid. The Company leases office, laboratory and manufacturing space under noncancelable operating leases. The Company has standard indemnification arrangements under the leases that require it to indemnify the landlords against all costs, expenses, fines, suits, claims, demands, liabilities, and actions directly resulting from any breach, violation or nonperformance of any covenant or condition of the Company’s leases. In the ordinary course of business, the Company enters into indemnification agreements with certain suppliers and business partners where the Company has certain indemnification obligations limited to the costs, expenses, fines, suits, claims, demands, liabilities and actions directly resulting from the Company’s gross negligence or willful misconduct, and in certain instances, breaches, violations or nonperformance of covenants or conditions under the agreements. As of March 31, 2022 and December 31, 2021, the Company had not experienced any material losses related to these indemnification obligations, and no material claims with respect thereto were outstanding. The Company does not expect significant claims related to these indemnification obligations and, consequently, concluded that the fair value of these obligations is negligible, and no related reserves were established.
Leases	Leases Pursuant to Topic 842, Leases In accordance with the guidance in ASC 842, components of a lease should be split into three categories: lease components (e.g. land, building, etc.), non-lease components (e.g. common area maintenance, consumables, etc.), and non-components (e.g. property taxes, insurance, etc.). Then the fixed and in-substance fixed contract consideration (including any related to non-components) must be allocated based on the respective relative fair values to the lease components and non-lease components. The Company made the policy election to not separate lease and non-lease components. Each lease component and the related non-lease components are accounted for together as a single component.
Revenue Recognition	Revenue Recognition The Company generates revenue from the sale of instruments, consumable diagnostic tests, related services, reagent rental agreements and government contributions. Pursuant to ASC 606, Revenue from Contracts with Customers • Identification of a contract with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations • Recognition of revenue as a performance obligation is satisfied The amount of revenue recognized reflects the consideration the Company expects to be entitled to receive in exchange for these goods and services. Once a contract is determined to be within the scope of ASC 606 at contract inception, the Company reviews the contract to determine which performance obligations the Company must deliver and which of these performance obligations are distinct. The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Generally, the Company's performance obligations are transferred to customers at a point in time, typically upon shipment, or over time, as services are performed. Most of the Company’s contracts with distributors in geographic regions outside the United States contain only a single performance obligation, whereas most of the Company’s contracts with direct sales customers in the United States contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Excluded from the transaction price are sales tax and other similar taxes which are presented on a net basis. Product revenue is generated by the sale of instruments and consumable diagnostic tests predominantly through the Company’s direct sales force in the United States and distributors in geographic regions outside the United States. The Company does not offer product return or exchange rights (other than those relating to defective goods under warranty) or price protection allowances to its customers, including its distributors. Payment terms granted to distributors are the same as those granted to end-user customers and payments are not dependent upon the distributors’ receipt of payment from their end-user customers. The Company either sells instruments to customers and international distributors, or retains title and places the instrument at the customer site pursuant to a reagent rental agreement. When an instrument is purchased by a customer or international distributor, the Company recognizes revenue when the related performance obligation is satisfied (i.e. when the control of an instrument has passed to the customer; typically, at shipping point). When the instrument is placed under a reagent rental agreement, the Company’s customers generally agree to fixed term agreements, which can be extended, and incremental charges on each consumable diagnostic test purchased. Revenue from the sale of consumable diagnostic tests (under a reagent rental agreement) is generally recognized upon shipment. The transaction price from consumables purchases is allocated between the lease of the instrument (under a contingent rent methodology as provided for in ASC 842, Leases Revenue from the sale of consumable diagnostic tests (under instrument purchase agreements) is generally recognized upon shipment. Shipping and handling costs billed to customers in connection with a product sale are recorded as a component of the transaction price and allocated to product revenue in the condensed consolidated statements of operations and comprehensive loss as they are incurred by the Company in fulfilling its performance obligations. Direct sales of instruments include warranty, maintenance and technical support services typically for one year following the installation of the purchased instrument (“Maintenance Services”). Maintenance Services are separate performance obligations as they are service-based warranties and are recognized on a straight-line basis over the service delivery period. After the completion of the initial Maintenance Services period, customers have the option to renew or extend the Maintenance Services typically for additional one-year Fees paid to member-owned group purchasing organizations (“GPOs”) are deducted from related product revenues. The Company warrants that consumable diagnostic tests will be free from defects, when handled according to product specifications, for the stated life of the product. To fulfill valid warranty claims, the Company provides replacement product free of charge. Warranty expense is recognized based on the estimated defect rates of the consumable diagnostic tests. Contribution Revenue Income under the government BARDA contract is earned under a cost-sharing arrangement in which the Company is reimbursed for direct costs incurred plus allowable indirect costs. The g overnment contract revenue is recognized as the related reimbursable expenses are incurred. The cost reimbursement that is reported as revenue is presented gross of the related reimbursable expenses in the Company’s consolidated statements of operations; the related reimbursable expenses are expensed as incurred as research and development expense. The Company accounts for these contracts as a government grant which analogizes with International Accounting Standards 20 (“IAS 20”), Accounting for Government Grants and Disclosure of Government Assistance . The Company has a significant development contract with BARDA and should BARDA reduce, cancel or not grant additional milestone projects, the Company’s ability to continue future product development may be impacted. Refer to Note 11 for further details regarding the development contract with BARDA. Disaggregation of Revenue The Company disaggregates revenue from contracts with customers by type of products and services, as it best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The following table disaggregates our revenue by major source (in thousands): Three Months Ended, March 31, 2022 2021 Product revenue Instruments $ 876 $ 425 Consumables 2,950 4,206 Instrument rentals 18 19 Total product revenue 3,844 4,650 Contribution revenue 3,390 2,306 Total revenue $ 7,234 $ 6,956 Remaining Performance Obligations Under ASC 606, the Company is required to disclose the aggregate amount of the transaction price that is allocated to unsatisfied or partially satisfied performance obligations as of March 31, 2022. However, the guidance provides certain practical expedients that limit this requirement, and therefore, the Company has elected to not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. The nature of the excluded unsatisfied performance obligations pursuant to the practical expedient include consumable shipments, service contracts, warranties and installation services that will be performed within one year. The amount of the transaction price that is allocated to unsatisfied or partially satisfied performance obligations, that has not yet been recognized as revenue and that does not meet the elected practical expedient is $0.2 million as of March 31, 2022. The Company expects to recognize 86% of this amount as revenue within one year and the remainder within two years. Significant Judgments Certain contracts with customers include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. Once the performance obligations are determined, the Company determines the transaction price, which includes estimating the amount of variable consideration, based on the most likely amount, to be included in the transaction price, if any. The Company then allocates the transaction price to each performance obligation in the contract based on a relative standalone selling price method. The corresponding revenue is recognized as the related performance obligations are satisfied as discussed in the revenue categories above. Judgment is required to determine the standalone selling price for each distinct performance obligation. The Company determines standalone selling price based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as a range of selling prices, market conditions and the expected costs and margin related to the performance obligations. Contract Assets and Liabilities The Company did not record any contract assets at March 31, 2022 and December 31, 2021. The Company’s contract liabilities consist of upfront payments for research and development contracts and maintenance services on instrument sales. Contract liabilities are classified in deferred revenue as current or noncurrent based on the timing of when revenue is expected to be recognized. Contract liabilities were $0.4 million and $0.5 million at March 31, 2022 and December 31, 2021, respectively. Revenue recognized during the three months ended March 31, 2022 relating to contract liabilities at December 31, 2021 was $0.2 million and related to straight-line revenue recognition associated with maintenance agreements. Cost to Obtain and Fulfill a Contract The Company capitalizes commission expenses paid to sales personnel that are recoverable and incremental to obtaining capital purchase agreements within the United States. These costs are classified as prepaid expenses and other current assets and other assets, based on their current or non-current nature, respectively. The Company capitalizes only those costs that are determined to be incremental and would not have occurred absent the customer contract. These capitalized costs are amortized as selling, general and administrative costs on a straight line basis over the expected period of benefit. These costs are reviewed periodically for impairment. At both March 31, 2022 and December 31, 2021, capitalized costs to fulfill contracts of $0.1 million was included in prepaid and other current assets and less than $0.1 million was included in other non-current assets
Cost of Product Revenue	Cost of Product Revenue Cost of product revenue includes the cost of materials, direct labor and manufacturing overhead costs used in the manufacture of consumable diagnostic tests sold to customers, related warranty and license and royalty fees. Cost of product revenue also includes depreciation on T2-owned revenue generating T2Dx instruments that have been placed with customers under reagent rental agreements; costs of materials, direct labor and manufacturing overhead costs on the T2Dx instruments sold to customers; and other costs such as customer support costs, royalties and license fees, warranty and repair and maintenance expense on the T2Dx instruments that have been placed with customers under reagent rental agreements.
Research and Development Costs	Research and Development Costs Costs incurred in the research and development of the Company’s product candidates are expensed as incurred. Research and development expenses consist of costs incurred in performing research and development activities, including activities associated with delivering products or services associated with contribution revenue, clinical trials to evaluate the clinical utility of our product candidates, and costs associated with the enhancements of developed products. These costs include salaries and benefits, stock compensation, research‑related facility and overhead costs, laboratory supplies, equipment and contract services.
Recent Accounting Standards	Recent Accounting Standards From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption. Accounting Standards Adopted In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40)—Accounting for Convertible Instruments and Contracts in an Entity's Own Equity In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40) Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (“ASU 2021-04”) In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance . This ASU requires certain disclosures when companies (a) have received government assistance and (b) use a grant or contribution accounting model by analogy to other accounting guidance. A company that has received government assistance must provide disclosures related to the nature of the transaction, accounting policies used to account for the transaction, and the amounts and line items on the financial statements that are affected by the transaction. This ASU is effective for fiscal years beginning after December 15, 2021, with early adoption permitted, and can be applied either prospectively or retrospectively. The Company adopted this standard as of January 1, 2022.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Marketable Securities	The following table summarizes the Company’s marketable securities at March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. treasury securities $ 10,000 $ — $ (11 ) $ 9,989 Total $ 10,000 $ — $ (11 ) $ 9,989 December 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. treasury securities 10,000 — (4 ) 9,996 Total $ 10,000 $ — $ (4 ) $ 9,996
Summary of Maturities of Marketable Securities	The following table summarizes the maturities of the Company’s marketable securities at March 31, 2022 and December 31, 2021 (in thousands): March 31, 2022 December 31, 2021 Amortized Cost Fair Value Amortized Cost Fair Value Due in less than 1 year $ 10,000 $ 9,989 $ 10,000 $ 9,996 Due in 1-2 years — — — — Total $ 10,000 $ 9,989 $ 10,000 $ 9,996
Disaggregation of Revenue by Major Source	The following table disaggregates our revenue by major source (in thousands): Three Months Ended, March 31, 2022 2021 Product revenue Instruments $ 876 $ 425 Consumables 2,950 4,206 Instrument rentals 18 19 Total product revenue 3,844 4,650 Contribution revenue 3,390 2,306 Total revenue $ 7,234 $ 6,956

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities at Fair value on a Recurring Basis	The Company measures the following financial assets at fair value on a recurring basis. There were no transfers between levels of the fair value hierarchy during any of the periods presented. The following tables set forth the Company’s financial assets and liabilities carried at fair value categorized using the lowest level of input applicable to each financial instrument as of March 31, 2022 and December 31, 2021 (in thousands): Balance at March 31, 2022 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: US Treasury securities $ 9,989 $ 9,989 $ — $ — $ 9,989 $ 9,989 $ — $ — Balance at December 31, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: US Treasury securities 9,996 9,996 — — $ 9,996 $ 9,996 $ — $ —

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	3 Months Ended
	Mar. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule of Inventory	Inventories are stated at the lower of cost or net realizable value on a first-in, first-out basis and are comprised of the following (in thousands): March 31, 2022 December 31, 2021 Raw materials $ 2,400 $ 1,591 Work-in-process 1,418 953 Finished goods 1,354 1,365 Total inventories, net $ 5,172 $ 3,909
Schedule of Property and Equipment	Property and equipment consist of the following (in thousands): March 31, 2022 December 31, 2021 Office and computer equipment $ 749 $ 749 Software 783 783 Laboratory equipment 5,496 5,507 Furniture 197 197 Manufacturing equipment 1,445 1,445 Manufacturing tooling and molds 478 478 T2-owned instruments and components 6,939 6,668 Leasehold improvements 3,785 3,768 Construction in progress 600 512 20,472 20,107 Less accumulated depreciation and amortization (15,694 ) (15,432 ) Property and equipment, net $ 4,778 $ 4,675
Components of Accrued Expenses	Accrued expenses consist of the following (in thousands): March 31, 2022 December 31, 2021 Accrued payroll and compensation $ 4,320 $ 3,687 Accrued research and development expenses 914 1,250 Accrued professional services 421 384 Accrued interest 1,106 974 Operating lease liabilities 1,195 1,174 Other accrued expenses 994 869 Total accrued expenses and other current liabilities $ 8,950 $ 8,338

Notes Payable (Tables)

Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Future principal payments on the notes payable are as follows (in thousands): March 31, 2022 December 31, 2021 Term loan agreement including PIK interest, before unamortized discount and issuance costs $ 51,140 $ 49,364 Less: unaccrued paid-in-kind interest (2,642 ) (1,287 ) Less: unamortized discount and deferred issuance costs (241 ) (287 ) Total notes payable $ 48,257 $ 47,790

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock Option Activity	The following is a summary of option activity under the Stock Incentive Plans and Inducement Plan (in thousands, except share and per share amounts): Number of Shares Weighted-Average Exercise Price Per Share Weighted-Average Remaining Contractual Term (In years) Aggregate Intrinsic Value Outstanding at December 31, 2021 9,868,947 $ 2.88 7.09 $ 51 Granted 578,500 0.41 Exercised — — — — Forfeited (81,466 ) 1.01 Cancelled (426,205 ) 2.29 Outstanding at March 31, 2022 9,939,776 $ 2.77 7.25 $ 118 Exercisable at March 31, 2022 5,688,369 $ 4.07 6.16 $ 28 Vested or expected to vest at March 31, 2022 9,321,200 $ 2.89 7.14 $ 102
Schedule of Estimated Assumptions Used to Calculate Weighted-Average Grant Date Fair Value of Options Granted	There were no options exercised in the three months ended March 31, 2022 and 42,626 options exercised in the three months ended March 31, 2021. The weighted-average grant date fair values of stock options granted in the three month periods ended March 31, 2022 and 2021 were $0.33 per share and $1.33 per share, respectively, and were calculated using the following estimated assumptions: Three Months Ended March 31, 2022 2021 Weighted-average risk-free interest rate 1.67 % 0.95 % Expected dividend yield — % — % Expected volatility 105 % 104 % Expected terms 6.0 years 6.0 years
Schedule of Nonvested Restricted Stock Units Activity	The following is a summary of restricted stock unit activity under the 2014 Plan: Number of Shares Weighted-Average Grant Date Fair Value Per Share Nonvested at December 31, 2021 7,120,475 $ 1.84 Granted 7,883,807 0.46 Vested (2,002,048 ) 2.02 Forfeited (106,849 ) 1.50 Nonvested at March 31, 2022 12,895,385 $ 0.97
Summary of Stock-Based Compensation Expense for Stock Options Granted that was Recorded in the Company's Results of Operations	The following table summarizes the stock-based compensation expense resulting from awards granted under Stock Incentive Plans, the Inducement Plan and the 2014 ESPP, that was recorded in the Company’s results of operations for the periods presented (in thousands): Three Months Ended March 31, 2022 2021 Cost of product revenue $ 129 $ 47 Research and development 422 178 Selling, general and administrative 1,994 1,068 Total stock-based compensation expense $ 2,545 $ 1,293

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following shares were excluded from the calculation of diluted net loss per share applicable to common stockholders, prior to the application of the treasury stock method, because their effect would have been anti-dilutive for the periods presented: Three Months Ended March 31, 2022 2021 Options to purchase common shares 9,939,776 8,974,627 Restricted stock units 12,895,385 6,857,896 Warrants to purchase common stock 1,097,249 1,097,249 Total 23,932,410 16,929,772

Nature of Business - Additional

Nature of Business - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2022	Mar. 31, 2022	May 05, 2022	Dec. 31, 2021	Nov. 05, 2021	Mar. 31, 2021	Dec. 31, 2020
Nature Of Business [Line Items]
Cash, cash equivalents, marketable securities and restricted cash		$ 20,500
Accumulated deficit		488,711		$ 472,216
Stockholders' deficit		$ 25,651		$ 12,903		$ 566	$ (8,726)
Debt maturity date		Dec. 30, 2023
Minimum price of common stock for continued listing					$ 1
Subsequent Event [Member]
Nature Of Business [Line Items]
Minimum price of common stock for continued listing			$ 1
Maximum [Member]
Nature Of Business [Line Items]
Stock trading price		$ 1
Minimum [Member]
Nature Of Business [Line Items]
Regain compliance by increasing the stock price		$ 1
Term Loan Agreement [Member] | CRG [Member]
Nature Of Business [Line Items]
Minimum cash balance		$ 5,000
Debt maturity date	Dec. 30, 2023	Dec. 30, 2023

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022USD ($)Segment	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Product Information [Line Items]
Number of operating segments | Segment	1
Total revenue	$ 7,234,000	$ 6,956,000
Outstanding receivable	4,361,000		$ 5,134,000
Other-than-temporary unrealized losses	$ 0
Remaining performance obligation, expected timing of satisfaction	The Company expects to recognize 86% of this amount as revenue within one year and the remainder within two years.
Contract assets	$ 0		0
Contract liabilities	400,000		500,000
Revenue recognized relating to contract liabilities	$ 200,000
Accounting Standards Update 2020-06 [Member]
Product Information [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2022
Change in accounting principle, accounting standards update, immaterial effect	true
Accounting Standards Update 2021-04 [Member]
Product Information [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2022
Change in accounting principle, accounting standards update, immaterial effect	true
Accounting Standards Update 2021-10 [Member]
Product Information [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2022
Change in accounting principle, accounting standards update, immaterial effect	true
Prepaid and Other Current Assets [Member]
Product Information [Line Items]
Costs to obtain or fulfill contract capitalized	$ 100,000		100,000
T2 Dx [Member]
Product Information [Line Items]
Maintenance Services period (in years)	1 year
Additional period for Maintenance Service option (in years)	1 year
Maximum [Member]
Product Information [Line Items]
Original expected period of contracts for which value of unsatisfied performance obligations not to be disclosed	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	2 years
Maximum [Member] | Other Non-Current Assets [Member]
Product Information [Line Items]
Costs to obtain or fulfill contract capitalized	$ 100,000		100,000
Non-US [Member]
Product Information [Line Items]
Total revenue	1,000,000	$ 500,000
Outstanding receivable	$ 700,000		$ 600,000
Revenue [Member] | Geographic Concentration Risk [Member] | Non-US [Member]
Product Information [Line Items]
Total revenue (as a percent)	13.00%	7.00%
Revenue [Member] | Geographic Concentration Risk [Member] | Non-US [Member] | Maximum [Member]
Product Information [Line Items]
Total revenue (as a percent)	10.00%	10.00%
Revenue [Member] | Customer Concentration Risk [Member] | Customer One [Member]
Product Information [Line Items]
Total revenue (as a percent)	47.00%	33.00%
Revenue [Member] | Customer Concentration Risk [Member] | Customer Two [Member]
Product Information [Line Items]
Total revenue (as a percent)	9.00%	19.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Marketable Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Marketable Securities [Line Items]
Amortized Cost	$ 10,000	$ 10,000
Gross Unrealized Losses	(11)	(4)
Fair Value	9,989	9,996
U.S. Treasury Securities [Member]
Marketable Securities [Line Items]
Amortized Cost	10,000	10,000
Gross Unrealized Losses	(11)	(4)
Fair Value	$ 9,989	$ 9,996

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Maturities of Marketable Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Marketable Securities, Amortized Cost, Due in less than 1 year	$ 10,000	$ 10,000
Amortized Cost	10,000	10,000
Marketable Securities, Fair Value, Due in less than 1 year	9,989	9,996
Marketable Securities, Fair Value	$ 9,989	$ 9,996

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Disaggregation of Revenue by Major Resource (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation Of Revenue [Line Items]
Total revenue	$ 7,234	$ 6,956
Product Instruments [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	876	425
Product Consumables [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	2,950	4,206
Instrument Rentals [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	18	19
Total Product Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	3,844	4,650
Contribution Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 3,390	$ 2,306

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Additional Information 1 (Detail) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-04-01 $ in Millions	Mar. 31, 2022USD ($)
Product Information [Line Items]
Transaction price that is allocated to unsatisfied or partially satisfied performance obligations, that has not yet been recognized as revenue	$ 0.2
Percentage of revenue recognition	86.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Money Market Accounts [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Restricted cash	$ 1.1	$ 1.6

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities at Fair value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets:
Assets, fair value	$ 9,989	$ 9,996
Estimate of Fair Value Measurement [Member] | Recurring [Member]
Assets:
Total assets	9,989	9,996
Estimate of Fair Value Measurement [Member] | Recurring [Member] | U.S. Treasury Securities [Member]
Assets:
Assets, fair value	9,989	9,996
Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Recurring [Member]
Assets:
Total assets	9,989	9,996
Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Recurring [Member] | U.S. Treasury Securities [Member]
Assets:
Assets, fair value	$ 9,989	$ 9,996

Restricted Cash - Additional In

Restricted Cash - Additional Information (Detail) - Money Market Accounts [Member] $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022USD ($)Facility	Dec. 31, 2021USD ($)Facility
Restricted Cash And Cash Equivalents Items [Line Items]
Security deposits | $	$ 1.1	$ 1.6
Number of facilities | Facility	2	3

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Net [Abstract]
Raw materials	$ 2,400	$ 1,591
Work-in-process	1,418	953
Finished goods	1,354	1,365
Total inventories, net	$ 5,172	$ 3,909

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information - Schedule of Property and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 20,472	$ 20,107
Less accumulated depreciation and amortization	(15,694)	(15,432)
Property and equipment, net	4,778	4,675
Office and Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	749	749
Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	783	783
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5,496	5,507
Furniture [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	197	197
Manufacturing Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,445	1,445
Manufacturing Tooling and Molds [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	478	478
T2-Owned Instruments and Components [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	6,939	6,668
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,785	3,768
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 600	$ 512

Supplemental Balance Sheet In_5

Supplemental Balance Sheet Information - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Supplemental Balance Sheet Information [Line Items]
Raw materials and work-in-process inventory	$ 1,200		$ 1,400
Depreciation and amortization	$ 286	$ 383
T2 Owned Instruments in Service [Member]
Supplemental Balance Sheet Information [Line Items]
Estimated useful lives (in years)	5 years

Supplemental Balance Sheet In_6

Supplemental Balance Sheet Information - Components of Accrued Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accrued Liabilities Current [Abstract]
Accrued payroll and compensation	$ 4,320	$ 3,687
Accrued research and development expenses	914	1,250
Accrued professional services	421	384
Accrued interest	1,106	974
Operating lease liabilities	1,195	1,174
Other accrued expenses	994	869
Total accrued expenses and other current liabilities	$ 8,950	$ 8,338

Notes Payable - Schedule of Deb

Notes Payable - Schedule of Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Term loan agreement including PIK interest, before unamortized discount and issuance costs	$ 51,140	$ 49,364
Less: unaccrued paid-in-kind interest	(2,642)	(1,287)
Less: unamortized discount and deferred issuance costs	(241)	(287)
Total notes payable	$ 48,257	$ 47,790

Notes Payable - Term Loan Agree

Notes Payable - Term Loan Agreement - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended
	Feb. 28, 2022	Dec. 31, 2016	Mar. 31, 2022	Dec. 31, 2019
Debt Instrument [Line Items]
Debt maturity date			Dec. 30, 2023
Common Stock [Member]
Debt Instrument [Line Items]
Number of shares issuable for warrants outstanding (in shares)		528,958		568,291
Exercise price of warrants		$ 1.55		$ 1.55
CRG [Member] | Term Loan Agreement [Member]
Debt Instrument [Line Items]
Debt maturity date	Dec. 30, 2023		Dec. 30, 2023
Proceeds from issuance of long-term debt		$ 40
Debt term (in years)		6 years
Debt instrument, term of interest-only payments (in years)		4 years
Final fee as a percentage of the principal outstanding (as a percent)		8.00%	10.00%	10.00%
Annual fixed rate (as a percent)		11.50%
Deferred interest rate (as a percent)		3.50%
Debt instrument, prepayment fee term (in years)		5 years
Minimum cash balance			$ 5
Additional interest rate, event of default (as a percent)			4.00%

Stockholders' Deficit - Additio

Stockholders' Deficit - Additional Information (Detail) - USD ($)	Mar. 31, 2021	Jul. 30, 2019	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Jul. 01, 2021	Jun. 30, 2021
Class Of Stock [Line Items]
Common stock, shares authorized			400,000,000		400,000,000	400,000,000	200,000,000
New Sales Agreement [Member] | Canaccord [Member]
Class Of Stock [Line Items]
Aggregate gross sales amount of common stock	$ 75,000,000
Percentage of agent service fee		3.00%
Proceeds from issuance of common stock			$ 1,400,000
Number of shares issued/sold			3,549,360	0
Original Sales Agreement | Canaccord [Member]
Class Of Stock [Line Items]
Percentage of agent service fee		3.00%

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Aug. 06, 2020	Mar. 31, 2018
Share-Based Compensation
Fair value of vested stock options	$ 600,000	$ 600,000
Stock-based compensation expense	$ 2,545,000	1,293,000
Employee Stock Purchase Plan [Member]
Share-Based Compensation
Shares available for grant	2,623,655
Shares available for authorization			4,523,944
Percentage of full share price paid in purchase of common stock	85.00%
Maximum amount of annual employee common stock purchases	$ 25,000
Stock-based compensation expense	$ 100,000	100,000
Restricted Stock Units [Member]
Share-Based Compensation
Weighted-average period	2 years 1 month 6 days
Unrecognized compensation cost related to unvested stock options	$ 11,500,000
2014 Stock Option Plan [Member] | Stock Options [Member]
Share-Based Compensation
Shares available for future issuance under stock incentive plan	823,529
Percentage of common shares outstanding	4.00%
Shares available for grant	1,415,266
Inducement Award Plan [Member]
Share-Based Compensation
Shares available for grant	4,009,361
Shares available for authorization				9,625,000
2006 and 2014 Stock Option Plans [Member] | Stock Options [Member]
Share-Based Compensation
Aggregate fair value of options granted	$ 200,000	$ 600,000
Unrecognized compensation cost related to non-vested stock options	$ 3,200,000
Weighted-average period	2 years 4 months 24 days
2006 and 2014 Stock Option Plans and Inducement Plan [Member] | Stock Options [Member]
Share-Based Compensation
Issuance of common stock from exercise of stock options (in shares)	0	42,626
Weighted average fair value of options granted	$ 0.33	$ 1.33
2006 and 2014 Stock Option Plans and Inducement Plan [Member] | Restricted Stock Units [Member]
Share-Based Compensation
Aggregate fair value of restricted stock units granted	$ 3,600,000
Maximum [Member] | 2006 Stock Option Plan [Member] | Stock Options [Member]
Share-Based Compensation
Expiration period	10 years
Vesting period	4 years
Maximum [Member] | 2014 Stock Option Plan [Member] | Stock Options [Member]
Share-Based Compensation
Expiration period	10 years
Vesting period	4 years
Issuance of common stock from exercise of stock options (in shares)	35,000,000

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Detail) - 2006 and 2014 Stock Option Plans and Inducement Plan [Member] - Stock Options [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2021
Share-Based Compensation
Number of Shares Outstanding, beginning of the period	9,868,947
Number of Shares, Granted	578,500
Number of Shares, Exercised	0	(42,626)
Number of Shares, Forfeited	(81,466)
Number of Shares, Cancelled	(426,205)
Number of Shares Outstanding, end of the period	9,939,776
Number of Shares, Exercisable	5,688,369
Number of Shares, Vested or expected to vest	9,321,200
Weighted-Average Exercise Price Per Share Outstanding, beginning of the period	$ 2.88
Weighted-Average Exercise Price Per Share, Granted	0.41
Weighted-Average Exercise Price Per Share, Forfeited	1.01
Weighted-Average Exercise Price Per Share, Cancelled	2.29
Weighted-Average Exercise Price Per Share Outstanding, end of the period	2.77
Weighted-Average Exercise Price Per Share, Exercisable	4.07
Weighted-Average Exercise Price Per Share, Vested or expected to vest	$ 2.89
Weighted-Average Remaining Contractual Term, Outstanding	7 years 3 months		7 years 1 month 2 days
Weighted-Average Remaining Contractual Term, Exercisable	6 years 1 month 28 days
Weighted-Average Remaining Contractual Term, Vested or expected to vest	7 years 1 month 20 days
Aggregate Intrinsic Value, Outstanding	$ 118			$ 51
Aggregate Intrinsic Value, Exercisable	28
Aggregate Intrinsic Value, Vested or expected to vest	$ 102

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Estimated Assumptions Used to Calculate Weighted-Average Grant Date Fair Value of Options Granted (Detail) - Stock Options [Member] - 2006 and 2014 Stock Option Plans and Inducement Plan [Member]	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-Based Compensation
Weighted-average risk-free interest rate	1.67%	0.95%
Expected volatility	105.00%	104.00%
Expected terms	6 years	6 years

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Nonvested Restricted Stock Units Activity (Detail) - 2014 Stock Option Plan [Member] - Restricted Stock Units [Member]	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Share-Based Compensation
Number of Shares, Nonvested restricted shares at the beginning of the period | shares	7,120,475
Number of Shares, Restricted shares granted | shares	7,883,807
Number of Shares, Restricted shares vested | shares	(2,002,048)
Number of Shares, Restricted shares forfeited | shares	(106,849)
Number of Shares, Nonvested restricted shares at the end of the period | shares	12,895,385
Weighted-Average Grant Date Fair Value, Nonvested restricted shares at the beginning of the period | $ / shares	$ 1.84
Weighted-Average Grant Date Fair Value, Granted | $ / shares	0.46
Weighted-Average Grant Date Fair Value, Vested | $ / shares	2.02
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares	1.50
Weighted-Average Grant Date Fair Value, Nonvested restricted shares at the end of the period | $ / shares	$ 0.97

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock-Based Compensation Expense for Stock Options Granted that was Recorded in the Company's Results of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock-based compensation expense
Stock-based compensation expense	$ 2,545	$ 1,293
Cost of Product Revenue [Member]
Stock-based compensation expense
Stock-based compensation expense	129	47
Research and Development [Member]
Stock-based compensation expense
Stock-based compensation expense	422	178
Selling, General and Administrative [Member]
Stock-based compensation expense
Stock-based compensation expense	$ 1,994	$ 1,068

Warrants - Additional Informati

Warrants - Additional Information (Detail) - Common Stock [Member] - $ / shares	Dec. 31, 2019	Dec. 31, 2016
Class of Warrant or Right [Line Items]
Number of shares issuable for warrants outstanding	568,291	528,958
Exercise price of warrants	$ 1.55	$ 1.55

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted net loss per share	23,932,410	16,929,772
Options to Purchase Common Shares [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted net loss per share	9,939,776	8,974,627
Restricted Stock Units [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted net loss per share	12,895,385	6,857,896
Warrants to Purchase Common Stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted net loss per share	1,097,249	1,097,249

US Government Contract - Additi

US Government Contract - Additional Information (Detail) - USD ($)	1 Months Ended		3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Sep. 30, 2019
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue			$ 7,234,000	$ 6,956,000
Contribution [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue			3,390,000	2,306,000
Co Development Partnership Agreement [Member] | Biomedical Advanced Research and Development Authority [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Initial value of consideration receivable						$ 6,000,000
First contract option value exercised		$ 10,500,000
Option contract value exercised	$ 6,400,000
Collaborative arrangement additional funding amount received			4,400,000
Accounts receivable			2,200,000		$ 1,900,000
Co Development Partnership Agreement [Member] | Biomedical Advanced Research and Development Authority [Member] | Contribution [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue			$ 3,400,000	$ 2,300,000
Co Development Partnership Agreement [Member] | Biomedical Advanced Research and Development Authority [Member] | Maximum [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Aggregate consideration receivable						$ 69,000,000

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($)	Nov. 30, 2014	Sep. 30, 2021	Oct. 31, 2020	Sep. 30, 2017	Apr. 30, 2015	Nov. 30, 2014	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2019
Leases [Line Items]
Operating lease right-of-use assets							$ 9,472,000	$ 9,766,000
License Agreement [Member] | Operating Lease Entered into November 2014 [Member] | Office Space [Member]
Leases [Line Items]
Lease expiration date				Dec. 31, 2021	Dec. 31, 2017
Security deposit	$ 50,000					$ 50,000
Lease termination date	Dec. 31, 2021
Office Space, Laboratory Space, and Equipment [Member]
Leases [Line Items]
Operating lease right-of-use assets							0
Lease liabilities							$ 0
Maximum lease period to not recognize right of use assets or lease liabilities							12 months
Laboratory Space [Member] | Operating Lease Entered into November 2014 [Member]
Leases [Line Items]
Lease expiration date			Oct. 31, 2025
Security deposit							$ 130,977		$ 281,000
Term of lease	6 years					6 years
Space build-out costs paid	$ 1,400,000					$ 1,400,000
Space build-out costs						$ 2,200,000
Security deposit received from landlord								$ 281,000
Office, Research, Laboratory and Manufacturing Space [Member] | Operating Leases Entered Into September 2021 [Member]
Leases [Line Items]
Operating lease right-of-use assets							0
Lease liabilities							0
Security deposit							$ 1,000,000
Term of lease		126 months
Anticipated lease commencement year		2022

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - License Agreement [Member] - USD ($)	3 Months Ended	24 Months Ended
	Mar. 31, 2022	Dec. 31, 2007	Dec. 31, 2006
Commitments and Contingencies [Line Items]
Shares issued		84,678
Royalty on net sales sublicensing gross revenue	10.00%
Minimum [Member]
Commitments and Contingencies [Line Items]
Annual license fee payable			$ 5,000
Percentage of royalty on net sales	0.50%
Maximum [Member]
Commitments and Contingencies [Line Items]
Annual license fee payable			$ 25,000
Percentage of royalty on net sales	3.50%