TTOO - Earnings call transcript Q3 2024

our questions number you developments investor call, a our of to we discuss call. joining of this believe solicited script. is Biosystems. to purpose The can In for be of from those have and advance Thank incorporated today's we TX for responses transformative investors, today's in recent questions we that call

business, focus on will disease. Lyme my business While I opportunities: and also our I core comments address sepsis will bioterrorism additional X

leading system $XX U.S. costing the annually. the to represents Americans hospitals, Sepsis Sepsis lives lead of the overwhelming can and body's claiming cause Let's of start hospitalization, response in the XXX,XXX Sepsis damage, with our infection death care annually. a billion brief and description death. that an U.S. health is of is approximately of sepsis often sepsis also and organ our an portfolio. overview estimated leading of to cost failure life-threatening tissue

and the Biosystems TXBacteria sepsis, economic the and sepsis Lastly, the XX% Panel, the States is days. within FDA-cleared with sepsis Panel TXDx the associated within cause panels: in X Panel. readmission with United instrument TXResistance TX leading TXCandida toll address the human of of sepsis and survivors XX XX% and hospital rehospitalized XX the days XX-day is To commercializing test

specificity, Klebsiella TXBacteria including hours. X to detect The account X Staph and E. by Panel from aeruginosa the test is sepsis-causing X aureus, simultaneously The to blood diagnostic bacterial Panel species the detected directly States. just and Acinetobacter pneumoniae, TXBacteria coli. in faecium, for Pseudomonas all XX% FDA-cleared in of baumannii, nearly with X species XX% E. XX% detects only Panel species bloodstream infections bacterial TXBacteria United sensitivity able the bacterial The

to sold provide FDA test Breakthrough able diagnostic and genes the antibiotic detect TXResistance for received Designation, the X is directly glabrata. to TXCandida and U.S. TXCandida account FDA-cleared has pathogens. The Panel blood is albicans, detects process. and just directly detect the TXCandida parapsilosis, with for TXResistance Candida CE gram-negative XX to CDC, Prevention, XX% from species krusei species Control just test including diagnostic specificity, Panel currently CE-marked under will review for Candida XX% and Candida simultaneously species The sensitivity Panel in Candida XX% from gram-positive both Candida hours. Candida Panel XXX(k) bacterial resistance According X is a and from a to and prioritized Panel bloodstream The hours. resistance Candida in infections Centers to all antibiotic marketed States. The X TXResistance by or the a detects Europe X Mark United Panel The only able in of Device genes X up to sepsis-causing X blood Disease Candida the tropicalis, detected in which

the Administration the XXXX. during Drug to fourth and We quarter TXResistance of Panel expect Food to submit the

X to detect sepsis-causing can in X.X competitors that products Our their or resistance hours. claim pathogens antimicrobial

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blood Accordingly, culture and advantage. from antibiotic significant resistance directly competitive a requiring our first to genes detect without is sepsis-causing pathogens ability blood a positive

We intellectual direct-from-blood our detection property method. protects broad have proprietary portfolio a that

in patent one an opposition In bioMérieux, of Patent in European a diagnostics. direct-from-blood space. On fact, was largest think direct-from-blood maintained. key European culture-based Biosystems' detection position against companies, XX, September protecting by XXXX, this which And world's blood that advantage against ruled of opposition diagnostic TX method very our important week, last intellectual successfully leader pathogen competitive in a defended is in was we X have was filed we Office our filed we the the The in announced on detection this that the Union. property

with Under On the Let's of instrument, exclusive call, we exclusive Cardinal to accelerate potential company Cardinal that multibillion-dollar TXDx alternatives and agreement agreement a of announced our TXCandida the entered a strategic we Health. U.S. health I a Panel move into the been mentioned care our that the in partnership. Panel Cardinal to range earnings exclusive business agreement, exploring U.S. States. October the rights multiyear XXXX, that last TXBacteria regarding were On in we Health and sell U.S. with a commercial to we the the had negotiations United Health. with X, had has growth

and annual more billion, on countries Exchange the in than revenue the operations Cardinal Health has Cardinal is has employees. trades for XX of a solutions of and New products a distributor a Cardinal and facilities. laboratory care and XX,XXX data manufacturer is provider of Stock of distributor performance global Health more under $XXX approximately symbol medical has health pharmaceuticals, than Who Health? CAH, and York

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hospital collaboration to Instrument. the including market to our expect capital TXDx the significant Cardinal equipment will We this and as distribution sell U.S. commercial expand has Health specialists who greatly access infrastructure,

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Health TX TXCandida example, sell Panel Cardinal Panel. our And Instrument, products TXBacteria hospitals. Biosystems sell FDA-cleared the to the TXDx and For products U.S. the will the Cardinal to Health, will including

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Cardinal the Biosystems' microbiology having the In in to addition product strengthens economic States. TX United laboratories benefits, Health's access sepsis to offering to products

in to management increasing diseases, diagnose with Prxcision, and or treatment AI, role Inc. move the personalized specifically intelligence, the sepsis. patients We and AI develop plans decision-making. have of delivery risk artificial that and will at important assist an in Let's be collaboration health used clinicians of care believe to with can

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threat threatens antibiotics threats stakes the October are collaboration stewardship growing up sepsis X, critical frontier medicine new annually co-marketing we useless. with Antibiotic X.XX risk to is high at of death as antibiotic combat XXXX, deaths the antimicrobial modern On a to spacing goal hour delayed Inc. the resistance, with greatest announced treatment millions resistance to essential one resistance. of Over render lives can risk. and million time patients. the The in Prxcision, to of for of X% are with due a of by pioneering each of AMR, or increase targeted reported which antimicrobial is

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announced to commercial TXCandida This received and patients. and the Panel significant FDA-cleared in market. XXXX, our U.S. marks clearance pediatrics. clearance TXCandida Food and team the FDA our XXX(k) detection our XXX pediatric the over important panels from in FDA for of we to the our U.S. Let's fungal had to total of another a test to Administration pathogens September clearance already in begin addressable Drug to the children's expand XX, hospitals, allows selling move immediately milestone marketing On we sepsis-causing of market test that for clinical expansion our utility sepsis commitment

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XX We the third toward We covering Malaysia United which Panel TXDx international expanded quarter, quarter exclusive the Panel in executed FDA including and Indonesia. submission, is our during distribution States patients. for Instruments pediatric We occur XXX(k) the contracts market for distribution again XXXX. We of into during by TXCandida received and the expected network agreement XX entering the to to TXResistance internationally. FDA an advanced U.S. fourth clearance X

defended recently We journal, which pathogen direct-from-blood culture-independent with the the detection Panel, Instrument, against The of and culture characteristics TXCandida for medical are European with Patent opposition consistent and of published TXResistance by and culture weaknesses in the world-leading We that culture, blood of highlighted the patent the blood Panel. highlighted an the TXDx ideal article, innovative of by benefits TXBacteria the successfully provided method key diagnostics a Lancet, bioMérieux. the Office the a filed the Panel features the company's

TXLyme Panel. XXXX The does guidance potential growth sepsis and XXXX. fourth revenue or expects sepsis representing million, to TXBiothreat XXXX million of XX% of the include This of not fourth revenue full represents consists XXXX $X.X of $X.X the million XX%. of quarter compared and to of million product sales of XXX% The company now entirely revenue growth $X.X year $X.X total to XX% revenue Panel to product company's to quarter the

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regularly forward in our We continue and speaking hold November, We financial third plan strategic third quarter potential to to we operational our topic early when to look and alternatives evaluate partners. all results with this discussions XXXX have quarter audited on issue XXXX call. earnings and

Operator, call for we the analysts. can now questions additional open from

John Sperzel	executive
Eduardo Martinez	analyst

T2 Biosystems (TTOO) 10 Oct 242024 Q3 Earnings call transcript