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5.11%
-0.028
Pre-market:
.50
-0.02
-3.85%
Why is T 2 Biosystems Inc (TTOO) Stock down?
Shares of T 2 Biosystems Inc (TTOO) dropped by 43.87% from $0.310 to $0.174 in the trading on Thursday, October 12, 2023. The reason why TTOO stock down is due to the announcement of stock split. T2 Biosystems has undergone a reverse stock split at a ratio of 1 post-split share for every 100 pre-split shares. This move, effective from October 12, 2023, is intended to help the company meet the minimum bid price requirement for staying listed on the Nasdaq Capital Market. Each stockholder's pre-split shares have been reclassified into one post-split share. No fractional shares will be issued; instead, stockholders entitled to fractions will receive cash payments. The reverse stock split aims to boost the trading price of T2 Biosystems' shares and maintain its Nasdaq listing.
TTOO stock was down by more than 26% from $0.48 to $0.35 when T2 Biosystems preps to resell 141 million shares of TTOO stock.
Shares of T2 Biosystems CS (TTOO) were down 38.5% from $0.2828 to $0.1739 after the company reported downside earnings and revenues today. T2 Biosystems CS's earnings came in at an EPS loss of $1.32 per share, 10% lower than estimates for an EPS loss of $1.2 per share.
T2 Biosystems declined 23.2% from $1.08 to $0.83 after it announced the pricing of underwritten public offering of 11,111,111 shares of common stock at a combined public offering price of $1.08 per share of common stock.
https://finance.yahoo.com/news/t2-biosystems-announces-pricing-12-123000902.html
T2 Biosystems shares dropped 22.9% from $1.4 to $1.08 due to a proposed public offering. New shares dilute current shareholders' stakes and a lower offering price devalues their investments, causing a negative investor reaction.
T2 Biosystems stock dipped 30% from $4.0 to $2.8 on revised annual guidance, executes reverse stock split. Company reported prelim Q3 revenue of ~$3.7M vs. consensus of $7.19M, down 50% year-over-year due to lower sales of COVID-19 tests and reduced BARDA revenue, offset by increased sepsis test sales.
6.13%