T2 Biosystems prices $18m offering

T2 Biosystems Inc. (NSDQ:TTOO) last week priced a public offering looking to raise $17.5 million.

The Lexington, Mass.-based company said it is offering 4.4 million shares of its common stock at $4 per share with a 30-day underwriters option to purchase an additional 656,250 shares at the same price.

T2 Biosystems said it expects the offering to close today, with Cannacord Genuity and Cantor Fitzgerald & Co acting as joint book-runners, according to a press release.

Earlier this month, T2 Biosystems said it filed a 510(k) appliation with the FDA for its T2Bateria Panel rapid diagnostic solution designed to identify pathogens assocaited with Sepsis.

The T2Bacteria panel is designed to run on the FDA-cleared T2Dx instrument to provide diagnosis of sepsis pathogens within hours, reducing the time for patients with bloodstream infections to receive treatment, the company said.

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