T2 Biosystems, Inc. (NASDAQ:TTOO) Q2 2024 Earnings Conference Call July 29, 2024 4:30 PM ET

Company Participants

Trip Taylor - Investor Relations
John Sperzel - Chairman & Chief Executive Officer
John Sprague - Chief Financial Officer

Conference Call Participants

Kyle Mikson - Canaccord

Operator

Greetings, and welcome to T2 Biosystems, Inc. Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [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. You may begin.

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 April 1, 2024, 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 2024 results call.

Today, I will start by discussing the July 2024 health alerts issued by multiple US government agencies, informing healthcare providers that Becton Dickinson, or BD, is unable to supply sufficient quantities of blood culture media bottles, which has the potential to favorably impact our sepsis revenue. I will then provide a brief update on our three corporate priorities before turning the call over to John Sprague, our Chief Financial Officer, who will review our financial results. I will then provide closing remarks and open the call for questions and answers.

On July 10, 2024, the US Food and Drug Administration, or FDA, issued an alert to inform healthcare providers of interruptions in the supply of BD BACTEC blood culture media bottles because of recent supplier issues and added blood culture media bottles to the medical device shortages list. According to the FDA alert, "The disruption in supply of this device is expected to impact patient diagnosis, follow-up patient management and antimicrobial stewardship efforts."