T2 Biosystems, Inc. (NASDAQ:TTOO) Q4 2023 Earnings Conference Call February 15, 2024 4:30 PM ET
Company Participants
Trip Taylor - IR
John Sperzel - Chairman & CEO
John Sprague - John Sprague
Conference Call Participants
Ben Haynor - Alliance Global
Operator
Good day, everyone. And welcome to the T2 Biosystems Preliminary Fourth Quarter and Full Year 2023 Results Conference Call. At this time, all participants have been placed on a listen-only mode and we will open the floor for your questions and comments after the presentation.
It is now pleasure to turn the floor over to your host, Trip Taylor, Investor Relations. Sir, the floor is yours.
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 fourth quarter and full year 2023 results call. I'll start by discussing our plan to comply with the NASDAQ listing requirements, including the proxy and press release that we are filing today. I will then review our 2023 progress, 2024 objectives across our three corporate priorities. Before turning the call over to John Sprague, our Chief Financial Officer, who will review our financial results and provide our financial outlook for 2024. I will then provide closing remarks, and we'll open the call for questions and answers.
As a reminder, for 2023, we received a letter from NASDAQ informing us that we had failed to comply with the market value of listed securities or MVLS of at least $35 million for a period of 30 consecutive business days. Today, we participated in a meeting with the NASDAQ Listing Qualifications Hearing Panel, and we presented a detailed plan to regain compliance with the $35 million MVLS requirement. We expect a response from NASDAQ in the coming weeks.