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Fly News Breaks for November 26, 2019
TTOO
Nov 26, 2019 | 07:36 EDT
As previously reported, Janney Montgomery Scott analyst Paul Knight downgraded T2 Biosystems to Neutral from Buy with a $2.00 fair value estimate. A lack of commercial adoption, coupled with the company's recently announced dilutive financing arrangements, could put pressure on the stock, said Knight, although he does acknowledge that the "unprecedented" New Technology Add-on Payments ruling for T2Bacteria made by CMS in August has the potential to be a significant catalyst.
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