T2 Biosystems, Inc. (NASDAQ:TTOO) Q2 2023 Earnings Conference Call August 7, 2023 4:30 PM ET

Company Participants

Philip Trip Taylor - Gilmartin Group

John Sperzel - President, CEO & Chairman

John Sprague - CFO

Conference Call Participants

Benjamin Haynor - Alliance Global Partners

Operator

Greetings. Welcome to T2 Biosystems, Inc. Second Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal prestation. [Operator Instructions] Please note, this conference is being recorded.

I will now turn the conference over to your host, Trip Taylor, Investor Relations at T2 Biosystems. You may begin.

Philip Trip Taylor

Thank you, operator. I'd like to remind everyone that comments made by management today and answers to questions will include forward-looking statements. Those include statements related to T2 Biosystems' future financial and operating results and plans for developing and marketing new products.

Forward-looking statements are based on estimates and assumptions as of today and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied by these statements, including the risks and uncertainties described in T2 Biosystems' annual report on Form 10-K filed with the SEC on March 31, 2023, and other filings the company makes with the SEC from time to time. The company undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

With that, I would like to turn the call over to Chairman and CEO, John Sperzel. John?

John Sperzel

Thank you all for joining our second quarter 2023 earnings and business update call. Today, I'll start by discussing our performance, including the key achievements we have made across our three corporate priorities. I'll then turn the call over to John Sprague, our Chief Financial Officer, who will review our second quarter financial results and our outlook for 2023 before I provide closing remarks, and we open the call for questions and answers.

The T2 Biosystems team has recently achieved a number of key milestones. During the second quarter, we received record quarterly sepsis test panel orders. We received the second largest sepsis driven T2Dx instrument order in company history. We filed a 510(k) submission with the FDA for the T2Biothreat panel. We applied for FDA breakthrough device designation for a Candida auris diagnostic test, and we received breakthrough device designation from the FDA last month.