Will T2 Biosystems (TTOO) Hit New Highs This Week?

It is often noticed that investors generally look for the trends in the premarket hours before making up their minds about the stocks that they are going to focus on.

This morning, the T2 Biosystems Inc (NASDAQ: TTOO) stock could well be one of those stocks considering the fact that it has soared by as much as 34% in premarket trade. Considering the gains made by the stock today, it could be worthwhile to take a closer look at the reason behind the rally.

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On Monday, the company announced that its product T2SARS-CoV-2 Panel can identify the different variants of the COVID 19 virus. The strains that it can identify include the strains of COVID 19 that have been discovered in the United States, South Africa, and the United Kingdom in recent days. As per the analysis, the panel can identify 99.99% of all variants of COVID 19. It is a significant development and one that has brought T2 Biosystems into focus among investors.

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Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.