TTOO - Earnings call transcript Q2 2018

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Operator

Good afternoon, ladies and gentlemen. Thank you for standing by and welcome to the T2 Biosystems 2018 Second Quarter Financial Results Conference Call. At this time all participants are in listen only mode. Later, we will conduct a question and answer session and instructions will follow at that time. It is now my pleasure to turn the call over to Zach Kouwe [ph] of the W2O Group. sir. ahead go Please

Unidentified Company Representative

and TX everyone. financial Biosystems call. operator, us results for for the XXXX good you, Thanks afternoon, joining conference Thank second quarter

the The and today and period. prepared a related comments management CEO, marketing operational question-and-answer financial would McDonough; and made forward-looking with results ended On and some include Officer, remarks, XX, and remind will John discuss John open Financial the call like Sprague. to June President results products. for plans future statements to by that everyone for team answers statements. I quarter and to are Biosystems' and include XXXX, Chief will operating to new developing questions call executive by Those TX followed highlights the the

obligation as March CEO, publicly any that, XX, on McDonough. and expressed filings that no from SEC uncertainties Forward-looking time that and uncertainties report XX-K John materially including to annual risks by the cause over as or filed company and update other I estimates required except on Good to Form the turn subject to statements risks from assumptions by time. like XXXX, law. are forward-looking implied President company would undertakes differ are with statements the revise Biosystems' The to afternoon, call to makes and in on of TX and based statements, with those SEC to actual results may those or described today With and John. the

John McDonough

for XXXX the announced results Biosystems. the important we second as believe to be afternoon, and product most thank FDA highlight of was space launched we progress, the what to at the setting on joining second clearance Good for The and date us everyone, Zach. of the XX, TX Panel, you, quarter. Thank outlook the May TXBacteria following our quarter discuss you

clearance this ways directly the Combined TXBacteria FDA-cleared new here for launch. this everyone believe on is at years, is a Panel is star technology in the condition. and and have bacteria TXCandida become the this Diagnostics support achieving been goal must uniquely first towards working preventable we to to we and the to spending what sepsis-causing blood. company, from only like identify outcome, the While our existing offering is often many will positioned significantly the deliver have now protocol energized whole to with reduce better test is patient sepsis healthcare enhance TXDirect

our close our will a is role the remarks, financial a Our will been a it of who results including our in high highly some total full-year vision for on fight proceeds with addressing Sprague, to and effective report the and product of that most We financial included June capital medicine revenues time pleased the quarter products launch million. first, and launch the TXBacteria technologies will same-store am equity TXBacteria progressing basis in before driven will Overall, TXCandida of initiatives. of by quarter. culture-based $XX.X provide additional our exceeded conditions and based to usage that review, guidance. of probability-based in come revenue $X.X importantly other from a increased our an pass more TXCandida on metrics I in that in last call other for detecting revised TXDx be on But is for the the to $X.X utilization the said, XXXX, support come execute levels new met no in product blood providing from feedback and information over eventually that technology provide million After the sales is plan protocol and platform speed offering, and And against early irresponsible short, some allow or available not over predominantly standards million detailed believe critical that John quarter, reported This for provide infections, future my in a the the to growing our on fully XX% quarter, and on the reflects commercial key play second raise moment. launch. and the overtime. the the of of we color relies With on In of will therapy. users for grew has revenues and recap commercial of the encouraging. distant I'll activity deadly gross launch CFO, guidance. protocol its growing positive when I solid trial our pleased sign In many level so Panel for the to most trends I’ll can accuracy more targeted enable one a can the will were simply Instrument. hospital. revenue strategic Both we the And that and sepsis. the today while activity, summary clearance patients a the second

business. measured our evaluate outlook We and encouraging across also commercial of results we the metrics the key delivered to that health

Instruments, quarter. This high new over TXDx, X momentum the During to X an quarter. instrument provide patients target access of with securing risk contracts XX,XXX XX in of our of the new quarter, will our contracts of growing placement continue by new XX,XXX estimated for build ahead during placements we with the patients X instrument guidance and the second ahead TXDx the to contracts, for

quarter quarters, by have second into in delivered in contracts, the To QX proposals other TXBacteria. into XX delivered sustained proposals hospitals and of strong proposals actively reflected the building proposals Xx Xx have the received following XX leading over past to of In engaged. date FDA QX, pipeline, another in had XX XXXX. increase our addition, clearance number three the in United sales delivered for all per in and the earlier delivered we quarter quarter new average signed the proposals remain the delivered turned X than States, we In of is which higher these

XXXX, of that contracted hospitals instrument XX every revenue placed with once TXBacteria go take could XX, instruments and XX estimate generate have months. States ramp-up to to hospitals TXCandida As and worldwide. be XX placed the We in the XXX the testing and U.S. in covering which recurring June in we each $XXX,XXX or patients United approximately may year, live

clear to eagerly TXBacteria. now off We're the market turn to and strong TXBacteria. the awaiting been discuss Let's start, of availability of it's that has launch a the

includes train our take pathogens for addition we hospitals by in range X by XX plan material. that another engaging our had and the We the from reps whole the of existing X all in calibrate, Microbiology new excellent targeted typical opportunity X a TXBacteria to of to platform. platforms. clearance speed. excitement Diagnostics' Microbe diagnostic utilization that posters to to one XX-person an Compared TXDirect launch urgency, the FDA this TXCandida, hospitals we for X ASM been is on of TXBacteria were the prior presence Panel and with American the the meetings It launch presentation U.S. months, and will sales organization key the representatives, actively of This for of presented and confident elevated a Our to significant the begin important business. the for to cycle inbound opinion of after and and customers, is we of provided still X hours. our raise new Panel and responding entered to blood have is note its X about the This our be assume end take complemented level will and new to months with sales ASM Microbe year. receiving that for an on accuracy highlighting was of of delivery, new will of identification as add marketing then XX reps with our strong a data XX. to to hospitals largest interest. late-breaker the in year, Conference booth and the other it X sales awareness be attended to offering Shortly and sales tremendous leader experience to featuring due Society catalyst new or directly June customer sepsis-causing the We

identification TXCandida faster across The potential at of allowing had interests by the and of first of from that antibiotics the clinical is by from encouraged with could affected XX study inbound while other concurrent More treating stream TXBacteria to of differences large noted data infected rapid a of were and that confirmed core U.S. clinical part X.X trial speed compositely in advantage patient We've the saving stream that year. appropriate investigators. results. results by antibiotics blood channels. days meaningful based pivotal in and targeted therapeutic than I of missed culture data from study through samples messaging to TXBacteria and detecting is than have institutions new systems the of These but path, customers blood faster benefited XX% the blood collective couple detection, also the believe in the the potentially the of species results provided we blood were more concurrent presentation patient and impact and resonating culture. ASM, presented at earlier hospital more marketplace, dollars millions a and TXBacteria the TXBacteria culture TXBacteria additional from patients TXBacteria launch patients a States. discussed highlight have interest are on strong levels on infection each accuracy targeted from United a the hospital combination who and the was of a generated are and blood covering want the blood X,XXX across both ASM by which lives than the infections on others XX this approach and patients, We patients' not by over culture. trial by the presented detected our

at In addition to growth the the supporting number five ASM, platform. included saw TXCandida a and studies the auris also This continued CDC. technology we published studies panel the TXCandida of data by published our one in presented on on

to healthy patient how more contributed providing by peer-reviewed One and infection discharge the of the case early culture studies TXCandida Spain of leading the of therapy. detailed the one-year-old published to Panel to of sepsis on a suspected in point the the to having with sepsis proud targeted prevention are platform these the antifungal be articles as results transplant cadence TXBacteria relates blood commercial is that The a Panel. study and recently launch from in journal conversation start TXCandida off And the great for management. changing to technology Overall we equation team and our with a our valuable TXBacteria. serves proof as of economic it clinical

trial Before details turning the performance, call a the QX our TXLyme compared The of a update evaluate development clinical first our brief over TXLyme anagen. like and of to to patient our May, for the detection enrolled skin on efforts. for Diagnostic we in the of In study pipeline CX will FDA performance and/or to Sprague panel. John clinical the provide I’d financial biopsy

financial Gram-Negative XXXX, the to this believe may into year. disease from in and size bloodstream developed list associated Allergan to In therapy panel for CDC. tests part resistant The the a suggestion most us to $XXX superbugs published development the me identify we gram-negative used additional the Allergan, with of in to more and second call TX or test turn initial will estimate next Sprague, if panel, of be We on of We we track will TX genes million this our by continue growing XXXX future, the on end Resistance of CARB-X. antibiotic-resistant remains be infection. new expect could directly that product difference bacteria TXLyme to a determine the this the the by the directly review of and delivered our to clinical detecting resistant aim John species blood delivery whole bacterial line a tick detecting deadly to aim beyond with a who quarter underway efforts market let make to first John? resistant are and through to by product make Diagnostic calendar from TXBacteria TXBacteria our FDA a XX expanded that, certain trial bite. the greater with sometime genes detail. threat enable The over TXCandida. year. by serious is Biosystems results this infectious partnership patient can which The address of enters being as The to With initial collaboration the

John Sprague

Thank you, John.

quarter revenue, quarter a million $XX.X primarily from unit $X.X quarter’s $X.X Costs revenues expenses, of quarter and XX% and non-cash with depreciation one-time, were quarter, a year’s the $X.X quarter quarter’s million product our TXDx $X.X million. million compared last of million and second quarter $XX.X in last $X grants. million quarter vesting last from or $X year’s a in and of mid $X.X a of RSUs. performance-based last XX% to depreciation second to revenue last last over $X.X high $X loss last and XXXX over of by million primarily XXX% $XX.X $XX.X RSU were expense quarter, the and second in of increased product product of to second payment year’s $X.X year's million were revenues compared last second other expense second TXCandida the Research million, Research revenues, million over Product stock increase year's quarter milestone end options of quarter. quarter $X.X and and revenues panel stock compared million, at of loss above total and stock last range million, quarter. XX%, million $X.X $XX.X increase and to guidance $X.X compensation a increased of million were million Operating compensation expenses in and and the XX% $X.X last $X.X was of margins $X.X Canon. quarter. last million to million due over and exceeded to revenues Instrument included million second excluding loss year's Non-cash last Second revenues million interest non-operating sales, of revenues last guidance, compared Net year’s were in of million include a $XX.X restricted partnership and last million stock compared and million. cost

$XX.X to Our and share, shares and a per outstanding year’s $X.XX $XX.X $XX per $X.XX $XX.X million was loss $X.XX net in were Weighted second net compared loss second million to of million, share quarter last million of loss $XX.X quarter per compared share. in year’s quarter million, last net last quarter. $XX.X average million, last

and Our cash equivalents were June XXXX. cash $X.X at million XX,

proceeds of offering. for our the XXXX. from June, financing We of raised $XX.X changed in has [Indiscernible] sources we first have and company. the mentioned, million John As gross The the brand half sufficient least new offerings believe runway commercial equity at the cash are trajectory demonstrated TXDirect Diagnostics

XXXX revenues last revenues a revenues Canon. compared the was First million last TXDx our primarily year's panel a $X.X Instrument $X.X with of Research were of Research to milestone over last million year's first included product revenues $X.X million, onetime an payment increase in $X increase the for $XX million, Product half half million. revenue and first half. $X.X first half TXCandida partnership million year's were revenues over total $X.X of million. XX% XXX% sales

cost half. Net loss performance a first compared of $XX.X compensation and last and compared product were million first and expense were cost stock million compensation were non-operating to expenses, expenses and Non-cash million depreciation first options in of interest million stock first half $X.X last loss of million excluding year's $XX.X to $X.X in RSUs. year's vesting $XX.X year's further to in other half to and primarily XXXX increased from last stock non-cash half include revenue year's based-RSUs. in expense million First million were $X.X $X.X compared depreciation Operating last margins due and $XX.X million half.

of half. Weighted a last first net $XX.X share to loss the $X.XX Our million, first net year’s outstanding per were per was million, million shares last million $X.XX in in half. share average compared loss $XX.X to $XX.X $XX.X compared year's

Second our August range are guidance reaffirm statements are presented reflect as half of subject on XXXX The on XXXX our outlook. call expected we year's XXXX, revenue. estimates increasing and this information We forward-looking conference for following XX, well X, and based uncertainty. to above May and

million, $XX up the guidance million to of of million. revenue be be revenue $X.X Research previous million, $X.X to We to $XX.X Product in to million expected revenue of to range range to expect million. of is range $XX in the $X.X from to million to up the $X.X from expected XXXX $XX is million previous be $X.X $X the million. million

total in We XX and XXXX expect go of to contracts accounts revenues XX% the to half live close exceed [indiscernible] as million. approximately TXBacteria at States. instruments of our more with XX least will $XX in to XXXX each expect we of placed United second In the of of the in instruments range of XXXX the in revenue testing placement for XXXX, be these

patients important for We at risk expect of tested access patient the placements number high that sepsis. every and as in panels of infection. if TXCandida opportunity under provide currently The represents were time symptoms the least XX,XXX hospitals will to at contract these is market TXBacteria showed existing suspected have patients it of

However, increasingly year become risk this into report, and which installed track this and adoption becoming will is less the in ultimately to discontinue difficult be and results population, as we for base meaningful expand high we panel metric likely accurate and drive accurately quarter our Therefore to are TXBacteria metric our reporting reflected XXXX. in fourth the to current and utilization full cells. TXCandida

new instruments. live Phase are testing the on go quite and As any six John commences average instrument mentioned, at to three in diagnostic about patient hospitals placements X months to tests

International time. per instrument. distributors which instruments it those receives a looking revenue then of almost offer on hospital, discount price the by normal typically During typically days can XX% as be instruments the at purchased $XXX,XXX this but XX% period occurs purchase

hospital, for $XXX testing each and TXCandida X,XXX price about TXDx the typically assessments. annual revenue running that hold for We year. average instrument and grows receive the test. capable patient TXCandida as expect International instrument tests about per we from currently per combination to in estimate single $XXX panel at expect of XX%. in We TXBacteria distributors sales the TXDx $XXX,XXX TXBacteria a of Overtime about panel

compensation in We compensation second $X in non-cash to and expect non million quarter and approximately based $XX.X half quarter quarterly each XXXX, the flow operating quarter. between cash achieve of by compensation $X from million million million impacted expenses We the of of expenses range and RSUs we breakeven stock-based stock-based million estimate depreciation the investment. performance-based of including in to of that stay will $XX maybe performance-based Non-cash per revenue. each $XX annual RSU million stock cash $XX.X timing

We be approximately levels. to revenue these expect at our gross to XX% margin XX%

average $XX.X John be closing option McDonough And outstanding weighted million remarks. to back you. Our by may Thank stock shares of impacted exercises. for

John McDonough

John. you, commercial of feedback TXBacteria launch. summary, we to the and Thank are In make the encouraged progress by continue rollout initial from the

remain at drive to instrument to the testing volumes to the allow will and analysts continuing and our least in each fund our We in who we drive placements thank recent of installed and us of in double half two increased continues our participated revenue full-years. build revenue. confident in higher to expect base three of grow We like to launch the this will XXXX recurring that next momentum XXXX financing. with I'd as the second managers beyond,

pays to off. your We sure are that and confidence working make hard smart

for questions. remarks and septic interest this of being the your concludes today's making Operator, our the to is follow participation out now and DC the more the you most Thank That fighting infectious prepared we'll in one infection patients continued disease in breakthrough lethal the day discharged call resulting less walking in Biosystems. for TXMR TX call, continue developments important We of one open for in for evening. far expect your and hospital.

Operator

question Leerink our And from Instructions] [Operator Puneet comes Partners. with Souda first

Puneet Souda

in see I picked here in the and confidence accounts us have hand? you hope there -- more help now that understand, was approval And Just any in among ER you specifically labs up? the that Are the a this customers accounts? I of the follow-up. give now in with there quarter, a did us understand pick-up microbiology the certain

John McDonough

no question, product is cleared. a lot more confidence customers among is TXBacteria there there that the So has now

really I initial think interest can the in And that that in of being XX% are it's say driven emergency months. close next pipeline really of the that to by the kind accounts of It's six TXBacteria. here being driven the safe is in that department. about use TXBacteria by over of XX%

week. or a obviously, development second we had through interest. encouraged, And came reviews encouraged it's really but of sales like we're with last of the encouraged that that that year. territory meeting the half enter a out and early we're the as pipeline So data lot and the training here the the in headquarters launch, our at gave in the all of optimism us national with the We

Puneet Souda

the the And culture what's the you elaborate current then TXBacteria for from menu, feedback in versus Could menu the products terms the blood customers. of of that? being some on

John McDonough

here opportunities broad there strongly these the results good than and penalty targeted the Yes, more to that for mean faster with patients are test typically by opportunities real on not drugs happening that antibiotic the the negative what's spectrum with. is are being days also treated de-escalate patients I to today get menu. And covered that there understanding a is pathogens drugs. ones There are acceptance are

Puneet Souda

Bacteria And XXXX should XXXX you in we mix How about as versus about mix we longer-term? the and revenue? should TXCandida doubling how term, go here longer the think terms about and of talked we where into think the

John McDonough

grow by will year little point we of kind been on into XXXX, Bacteria believe grow seeing. during to couple the get is to continue next sales we've at we that some pieces probably TXCandida here comparable what Yes, resonate thus in as quarters. TXCandida continue of overlays total it cadence specifically to And

Bacteria, TXCandida the adoption up. that most good as will company. the will of news for along accounts being a in the a doubt, by flagship that’s itself well. be driven that play is The without pull So close we product usage, But Bacteria believe,

Operator

go ahead. Sachs. from Patrick comes next Our with Please Donnelly Goldman question

Patrick Donnelly

more there, biopharma big other commercially, and about over just in you partner just only not talk or outlook two? with in that conversations the general, online pharma you but with Bacteria the change Can potential of collaborators. Is accelerated next a partners? year the makes pace Obviously, attractive and Bacteria

John McDonough

Yes, development up it's then antibiotics more opportunities. in There opened are It's definitely is accelerated. antifungal.

mean, is definitely see on And new definitely So range, be that it's collaborations to opportunities predict there in expect tough us that I’d I this it's will emerging. say, tough to early at impact to but what stage.

Patrick Donnelly

of you then the the seeing about your definitely usage appreciate your about And have Can talk that granted products. impacted But just change diagnostic on you has cycle expectation guys early color your late with in expectations revenue at sales And in approval. call then talked all? Any quarters feedback there? just longer a after has approval been May? significant uptick and two it the

John McDonough

and meaningful And our revenue in still turn QX. that would see expect an into no, with would with been. We in And yet uptick, accounts. not has confirmed expect QX. But, expectation closing it's commencing States would expectations, and our that’s any in early. way to the It has consistent we especially QX United what

Operator

go next Our with comes ahead. Please Roy from question JonesTrading. Soumit

Soumit Roy

understand, towards any mentioned be changes to incorporate irresponsible made to there use this any not progress Just the you for to it protocol would like hospitals make is making this.

move been there has that part? any So

John McDonough

of regard. the would discussions early. We those it's But early are discussions that definitely say I deep pipeline, in engaged that very And the most accounts are are in in occurring.

emergency getting our are roll there. appreciated significantly the when be and probably, is the impact within They really and adopted, perhaps the department probably, that then of embedded product product going to, the is modified. and, in likelihood it not protocol, out hospital. overtime, protocol And internal protocols change understood the the will as better Our in is expectation the

Soumit Roy

a -- takes have like a How process for protocol timeline things these Do in mind? you any long amendment?

John McDonough

about rather bit mind, talking I’d our timeline give -- I’d before rather in we information little more but timeline. specific a belt definitely we under Yes, a have start

Operator

[Operator Please Instructions] And from with next ahead. comes Massaro Canaccord go Mark our question Genuity.

Max Masucci

hard XXXX, set that post revenues Masucci for but I goal it's 'XX. to Max and beyond Bacteria is know you've comment in Mark. approval, on 'XX double This a your

$XX I million $XX your these million roughly million call. is a expectations know least million appears it's be changed there delta. in 'XX at $X that this think attraction? to reason $XX in $XX contemplate Let's to $XX have million and any 'XX strong on versus to But given to what early million small

Unidentified Company Representative

the are No, the same. expectations

to We million. $XX You are million right. $XX go to

same have that one to when -- have by the stated we we $XX we and guidance XXXX. double get said guidance We gave to to expected million

So we're your those changing guidance. out not

so slightly And to guiding the few over next we're really years. than doubling better

Max Masucci

converted? we in quickly in reflect number as think be about proposals that $XX quarter. they of progress the are a the million Does a Just pacing And dollars get customers saw nice sense to at excited how can large Bacteria? lover you and

Unidentified Company Representative

of majority to door. $XX that of of overtime, million track we to that will ultimately these this then Yes, number the to about. it's the into get a there out second number driven we the proposals increase half believe will convert the of definitely year. quarter $XX and million us And the go a from -- hopefully the the is Bacteria, proposals by significant on we is no question replacement keep We the believe we close

Max Masucci

And I I would guide. trend to full to above more love appreciate the this revenues Is back QX the then of if it year. one year can. pacing QX? think the better might We half in of that understand reasonable revenues

Unidentified Company Representative

quarter-over-quarter continue TXCandida. to we've that think, Yes, seen of to And QX kind in that's the I QX growth expect see in TXBacteria a contribution we would a specifically. of really from than see more phase

So from see for sure, to expect would QX uptick an we to QX.

Operator

ahead. Our Montgomery. Please next question comes from Knight with go Janney Paul

Paul Knight

again milestone of -- timeline? What was milestone. that your outline could Canon you collaboration $X.X John, the kind line million over Hey go And the was for? then

John McDonough

the May. to recognized as trial recognition revenue larger figure from actually at with milestone Yes, to and that The in Canon. replaced FDA the payment which than so the we pivotal May commenced slightly related where in not and then of trial, the we a triggered payment was trying revenue pivotal And captaincy milestone was was entering line out. terms are of in

we're we XXXX We through XXXX expect in year. an -- to that get line And back pivotal FDA trial the season. submission to the in the like go to hopeful of half

Paul Knight

Bacteria, guidance is a -- bit. up regarding you then your And see product

lines it tests some or -- Bacteria and see do You this XQ is year? in instruments from XQ

John McDonough

be XQ And the in in the disposable a sales, of nominal instrument about expect we see we of regional would so U.S. -- continue expect Bacteria we for instrument XX% in -- sales. quarter. In Yes, to the to figure fourth placement we out X QX, to rentals. say the amount

bit a change As not a by we we in of better change the the primarily to pipeline half expectation. instrument look in see year want from at TXBacteria. to that than driven the the standpoint, is to enough placement pipeline, But second being uptick little its expect but that trending

the a those sales, say, in I safe placements interest it's to the the proposition. U.S. rentals, on think more U.S. in TXBacteria. XX-XX instrument by XX% Outside certainly placements being probably of the So regional of it's probably are driven

Operator

Our next question with H.C. comes ahead. from Lee Chan Please [ph] Wainwright. go

Unidentified Analyst

for Julian is This Lee. on

much steadily. file? quarter, were up systems be Just the this early in presented panel study heart to thoughts on on why TXBacteria higher Any was medical pivotal center the to sensitivity compared

John McDonough

being exclusively, what's is know suspected screening it. at [indiscernible] would It with as tough patients driving to understand, driven so But was by speculation, be study sepsis. the it's I

we with days the trial; suspected the treated protocol. have are -- sepsis of sepsis or are patients in pivotal been into We couple mix of a got perhaps who sepsis

know it's get of type. typically see with that you have the are in that. high been But having actually XX%, said always lower really we the that almost range that for get that sensitivities And impacting you tough drive factors sometimes of even XXs, what so to TXCandida, sometime sensitivity the and reasons could

Unidentified Analyst

difficulty] [technical

John McDonough

sorry. I’m

a bit. little You are up breaking

we So question. hear quite can't the

Unidentified Analyst

Sure. Can me hear now? you

John McDonough

Yes.

Unidentified Analyst

setting when panel? is you difficulty] ICU the question [technical TXBacteria My are the with guys

John McDonough

I’m be setting these to expect many would department We in so away. to initially and more maybe and in again. of drivers up About the launching ICU there two accounts ICU, the the it's primarily breaking in going right be primary you are emergency hospital ICU. sorry then and are are that our

Operator

Brozak WBB. ahead. go Our comes Steve with next from Please question

Steve Brozak

adding you're bacterial the to parts fungal TX in panel The way that it we panel. of to doing modeled with are there is terms three what

The first the involves part system. hospital

systems, system, I in So outcome what can general with hospital the differences, their, and ask the follow-up also with early much you about to just But the it's then advantages patient in that not about the you with clinician ask clinician? And one eventually what then the their that color please. after that. us I’d and this too the see with of question hospital like experience, terms tell but and got the is have

Unidentified Company Representative

again? you could that Yes, repeat

Steve Brozak

to future? with you they'll shall look are differences you at evaluate, patient what what the with advantages And how the course the provide got ask the and the -- the advantages also in are see of terms And be hospital then for think of early that that. to panel. then future? what at the into institution You've see off patient that outcomes that TXBacteria about clinicians, But and systems And seeing and terms you in again, it's differences of distinct into the it patients too also as that you will as the you'll look experience? advantage the

John McDonough

patient it's and all -- patient of the to I other and big words, of if by you rapid been difference a sort and would across mean, would, we of In being really our she horrible And but an patient question, force, a patients she infection e week, an one would a panel, tested to the has in infection, story. that is ongoing at financial she is sepsis know advantage that just The And who don’t Sales miss an here doesn’t X-days getting these infections. because her on through able the is see survived, Meeting therapy, patients a tested But she's get the for which Steve. Yes, know targeted getting detected to brought cut mean including she move-in right that's in the it if the has hospital, have last let's over now, couldn’t family, the hospital she infection a blood experience and up. have because has which risk the negative, I here, great results, sales a have an to speak big and this TXBacteria made life. It National she created culture in a survived survivor she this a infection being able that X-year into to we're work, her from the out way -- has the at period, tremendously trying an could differentially system monthly. more their not go people, over just just probably to the flaring has of infection. of product our infection, be future. the big on benefit has husband

can and the talk all could hours you and on home continue panel patient on is when could TXBacteria well she so the run knowing she three later about go life. if her, kind of with experience, And a you sleep that

certain starting are tremendous Candida of being about difference so are see ways and just uses the impacted, big opportunity to of our patients. product us so panel. that adults, technology young make now hospital. a were children, this there and continually many we've can get tremendous who us seen situations into a lives to obligation that hear And for it's in many we had now We with So Bacteria a lot the for a the with in

Steve Brozak

the you that been obviously of feedback you And about considered there? a what is next before what's can And queue. of you the terms with therapeutics? oncology jump is has one the follow-up risk have know us line along or same is of in your What should take to back where step I'll since administration tell really high the patients applications areas in

John McDonough

their instrument; it's positive, need testing TXBacteria immune a be going be is should the because origin the When commitment they to And of an annual obviously, patients. oncology And fevers tested, be to cancer the they the using Yes, large in Steve, second screen that their that the center all of They quarter, closed to made would large fact very they very, an purchased one to in accounts of patients, and tested. be hospital volume. all systems admitted. if are central they spike compromised. unknown

opportunity So department; about the the there's lot oncology there. very ICU, about next we a We patients. group big talk a large of emergency talk the

Operator

over question-and-answer closing to back any like management our to concludes remarks. for conference I’d turn the This session.

John McDonough

you, all you in. for thank operator. dialing Thank like I’d to

excited into are launch the be of to We TXBacteria.

forward for We XXXX quarter. of you second into and look to the reporting half are excited next back and to XXXX,

Operator

is presentation. conference you now The for concluded. attending today's Thank

may disconnect. You now

T2 Biosystems (TTOO) 2 Aug 182018 Q2 Earnings call transcript