Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Shares of T2 Biosystems (NASDAQ: TTOO) gained in after-hours and premarket trading on news that its T2SARS-CoV-2 Panel is capable of detecting the Mu and Iota variants of the coronavirus.
T2SARS-CoV-2 is a molecular diagnostic test that detects SARS-CoV-2, the virus responsible for COVID-19 infections. The two variants were recently confirmed to be present in the US.
In silico analyses were performed using genome sequences available in the GISAID database to confirm that the test would detect the variants.
“We are proud to announce our technology is capable of detecting additional COVID-19 variants including Mu and Iota, enabling healthcare providers with the confidence to make more informed decisions about their patients’ health,” said T2 Biosystems Chairman and CEO, John Sperzel.
The T2SARS-CoV-2 Panel has a clinical sensitivity of 95% and a specificity of 100%. In addition, it provides results in under two hours using an upper respiratory swab sample.
T2 Biosystems shares are up 32.70% premarket at $1.15. However, its shares have fallen over 30% so far in 2021.
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