Private company

T2 Biosystems, Inc.

American surgical and medical instruments and apparatus company.

Last updated Oct 18, 2026.

Overview

IndustrySurgical & Medical Instruments & Apparatus
HeadquartersLexington, United States
Incorporated inDE²
Business address101 Hartwell Avenue, Lexington, Ma 02421²
Filer categoryNon-accelerated filer, Smaller reporting company²

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

-690.4%Operating margin³

-696.2%Net margin³

-67.8%Revenue growth, 2023³

-$48.3MFree cash flow³

Where the money goes

Where each dollar of revenue went, fiscal 2023

Research and developmentSelling, general and admin

Research and development36¢$14.2M
Selling, general and admin64¢$24.8M

Out of $7.2M in revenue.³ The company lost money this year.

Financial statements

Revenue⁴⁵⁶⁷³$7.2M in 2023+54% since 2017

Operating income⁴⁵⁶⁷³-$49.7M in 2023−8% since 2017

Net income⁴⁵⁶⁷³-$50.1M in 2023−20% since 2017

Fiscal year	2017	2018	2019	2020	2021	2022	2023
Revenue	$4.7M⁴	$10.5M⁴	$8.3M⁵	$18.1M⁶	$28.1M⁷	$22.3M³	$7.2M³
Cost of revenue	$12.0M¹⁰					$21.0M³
Research and development	$23.7M⁴	$14.5M⁴	$16.3M⁵	$16.1M⁶	$21.8M⁷	$25.7M³	$14.2M³
Selling, general and admin	$22.8M⁴	$25.7M⁴	$27.3M⁵	$22.1M⁶	$28.5M⁷	$30.6M³	$24.8M³
Operating income	-$53.9M⁴	-$45.1M⁴	-$52.1M⁵	-$41.4M⁶	-$43.0M⁷	-$55.2M³	-$49.7M³
Interest			$7.3M⁵	$5.5M⁶	$7.6M⁷	$6.1M⁷
Net income	-$62.4M⁴	-$51.2M⁴	-$59.0M⁵	-$46.8M⁶	-$49.2M⁷	-$62.0M³	-$50.1M³
Earnings per share					-$15.50⁷	-$1,222.14³	-$19.19³
Earnings per share (diluted)					-$15.50⁷	-$1,222.14³	-$19.19³

Total assets¹¹⁴⁵⁶⁷³$34.8M in 2023−37% since 2017

Total liabilities⁷³$62.8M in 2023−14% since 2021

Shareholders’ equity⁴⁵⁶⁷³-$28.0M in 2023

Cash⁴⁵⁶⁷³$15.7M in 2023−62% since 2017

Fiscal year	2017	2018	2019	2020	2021	2022	2023
Cash	$41.8M⁴	$50.8M⁴	$11.0M⁵	$16.8M⁶	$22.2M⁷	$10.3M³	$15.7M³
Current assets	$44.3M¹¹	$56.6M⁴	$18.9M⁵	$53.6M⁶	$44.4M⁷	$19.4M³	$25.2M³
Total assets	$54.9M¹¹	$64.3M⁴	$28.5M⁵	$79.1M⁶	$60.5M⁷	$34.3M³	$34.8M³
Current liabilities	$51.8M¹¹	$52.3M⁴	$60.6M⁵	$9.8M⁶	$11.7M⁷	$10.1M³	$56.2M³
Total liabilities					$73.4M⁷	$74.0M³	$62.8M³
Shareholders’ equity	$1.3M⁴	$11.4M⁵	-$34.0M⁶	$8.7M⁷	-$12.9M³	-$39.7M³	-$28.0M³
Shares outstanding	35.9M shares¹¹	44.2M shares⁴	50.7M shares⁵	148.1M shares⁶	3.3M shares⁷	77.2K shares³	4.1M shares³

Cash from operations⁴⁵⁶⁷³-$48.1M in 2023+1% since 2017

Capital spending⁴⁵⁶⁷³$192.0K in 2023−92% since 2017

Free cash flow⁴⁵⁶⁷³-$48.3M in 2023−4% since 2017

Fiscal year	2017	2018	2019	2020	2021	2022	2023
Cash from operations	-$47.7M⁴	-$40.1M⁴	-$45.4M⁵	-$43.2M⁶	-$38.9M⁷	-$50.6M³	-$48.1M³
Capital spending	$2.5M⁴	$593.0K⁴	$761.0K⁵	$804.0K⁶	$460.0K⁷	$339.0K³	$192.0K³
Free cash flow	-$50.2M	-$40.7M	-$46.1M	-$44.0M	-$39.3M	-$51.0M	-$48.3M

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Leadership

Who has led T2 Biosystems, Inc., and when. Pick a name to see everywhere that person has worked.

Chief financial officer

Chief operating officer

Sarah O. Kalil2014–2016

201520202025

Chief executive officerJohn J. Sperzel Iii. Mar 19, 2021 to Mar 9, 2023¹²
ChairJohn J. Sperzel Iii. Apr 11, 2022 to Mar 9, 2023¹³
PresidentJohn J. Sperzel Iii. Mar 19, 2021 to Apr 11, 2022¹²
Chief financial officerDarlene M. Deptula-Hicks May 2, 2017 to Jun 8, 2017¹⁴
Chief financial officerShawn Lynch May 17, 2016 to Feb 13, 2017¹⁵
Chief financial officerMaurice L. Castonguay Aug 6, 2015 to Aug 10, 2015¹⁶
Chief operating officerSarah O. Kalil Aug 6, 2014 to Jan 26, 2016¹⁷

Board members and other officers (26)

Chief Medical OfficerAparna Ahuja Jan 15, 2021 to Feb 23, 2022¹⁸
Chief Commercial OfficerBrett A. Giffin Nov 15, 2021 to Jan 2, 2025¹⁹
OfficerJohn J. Sperzel Iii. Jan 14, 2020 to Jan 2, 2025²⁰
Chief Commercial OfficerAnthony Pare Jan 29, 2020 to Mar 18, 2021²¹
SVP, OperationsAlec Barclay Mar 14, 2018 to Apr 11, 2022²²
SVP of Corporate DevelopmentRahul Dhanda Feb 22, 2016 to Jun 8, 2017²³
Chief Operations OfficerJoanne Spadoro Sep 8, 2016 to Jun 8, 2017²⁴
Chief Medical OfficerMichael A. Pfaller Aug 6, 2014 to Jan 26, 2016²⁵
Chief Scientific OfficerThomas J. Lowery Aug 6, 2014 to Mar 18, 2020²⁶
Board memberLaura Lee Adams Nov 5, 2021 to Jan 2, 2025²⁷
Board memberJohn J. Sperzel Iii. Jan 14, 2020 to Jan 2, 2025²⁰
Board memberNinfa Saunders Jun 22, 2020 to Jan 2, 2025²⁸
Board memberRobin Toft Jun 22, 2020 to Jan 2, 2025²⁹
Board memberThierry Bernard Jun 22, 2020 to Oct 11, 2023³⁰
Board memberAdrian M. Jones Mar 11, 2016 to Aug 3, 2021³¹
Board memberSeymour Liebman Sep 22, 2016 to Jan 2, 2025³²
Board memberSteve Elms Dec 9, 2015 to Dec 9, 2015³³
Board memberAlan L. Crane Aug 6, 2014 to Aug 14, 2014³⁴
Board memberDavid B. Elsbree Aug 6, 2014 to Jan 2, 2025³⁵
Board memberHarry W. Wilcox Aug 6, 2014 to Jun 21, 2016³⁶
Board memberJohn W. Cumming Aug 6, 2014 to Jan 2, 2025³⁷
Board memberJoshua H. Bilenker Aug 6, 2014 to Jun 21, 2016³⁸
Board memberMichael J. Cima Aug 6, 2014 to Jun 13, 2019³⁹
Board memberStanley N. Lapidus Aug 6, 2014 to Jun 23, 2015⁴⁰
Board memberThomas J. Carella Aug 6, 2014 to Dec 11, 2015⁴¹
General counselMichael Terrence Gibbs Jan 26, 2016 to Jan 2, 2025⁴²

Timeline

Mar 19, 2021New chief executive John J. Sperzel Iii. becomes CEO¹²
Apr 26, 2006Founded T2 Biosystems, Inc. is founded⁴³

Filings

272 filings to the SEC since October 2021: 3 annual reports, 10 quarterly reports, 85 major events, 103 insider forms, 23 large holders, 48 other. The latest 20:

Apr 7, 20258-K EDGAR
Apr 1, 2025NT 10-K EDGAR
Feb 20, 20258-K EDGAR
Feb 14, 20258-K EDGAR
Feb 13, 2025SCHEDULE 13G/A EDGAR
Feb 13, 2025SCHEDULE 13G/A EDGAR
Feb 11, 20258-K EDGAR
Jan 21, 2025DEF 14A EDGAR
Jan 17, 20258-K EDGAR
Jan 8, 2025PRE 14A EDGAR
Jan 7, 20258-K EDGAR
Jan 3, 20258-K EDGAR
Jan 2, 20254 EDGAR
Jan 2, 20254 EDGAR
Jan 2, 20254 EDGAR
Jan 2, 20254 EDGAR
Jan 2, 20254 EDGAR
Jan 2, 20254 EDGAR
Jan 2, 20254 EDGAR
Jan 2, 20254 EDGAR

The 272 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 23 such filings since October 2021, the latest 10:

Feb 13, 2025SCHEDULE 13G/A
Feb 13, 2025SCHEDULE 13G/A
Nov 14, 2024SC 13G
Nov 6, 2024SC 13G
Nov 6, 2024SC 13G
Aug 15, 2024SC 13G/A
Aug 15, 2024SC 13G/A
May 13, 2024SC 13D/A
May 7, 2024SC 13D/A
Apr 19, 2024SC 13D

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGART2 Biosystems, Inc. filings on SEC EDGAR
2
SEC EDGART2 Biosystems, Inc. filings on SEC EDGAR
3
SEC EDGART2 Biosystems, Inc. 10-K for fiscal 2023
4
SEC EDGART2 Biosystems, Inc. 10-K for fiscal 2017
5
SEC EDGART2 Biosystems, Inc. 10-K for fiscal 2019
6
SEC EDGART2 Biosystems, Inc. 10-K for fiscal 2020
7
SEC EDGART2 Biosystems, Inc. 10-K for fiscal 2021
8
SEC EDGART2 Biosystems, Inc. 10-Q for fiscal 2024
9
SEC EDGART2 Biosystems, Inc. 10-Q for fiscal 2024
10
SEC EDGART2 Biosystems, Inc. 10-K for fiscal 2017
11
SEC EDGART2 Biosystems, Inc. 10-K for fiscal 2017
12
SEC EDGARJohn J. Sperzel Iii., Chief executive officer
13
SEC EDGARJohn J. Sperzel Iii., Chair
14
SEC EDGARDarlene M. Deptula-Hicks, Chief financial officer
15
SEC EDGARShawn Lynch, Chief financial officer
16
SEC EDGARMaurice L. Castonguay, Chief financial officer
17
SEC EDGARSarah O. Kalil, Chief operating officer
18
SEC EDGARAparna Ahuja, Chief Medical Officer
19
SEC EDGARBrett A. Giffin, Chief Commercial Officer
20
SEC EDGARJohn J. Sperzel Iii., Officer
21
SEC EDGARAnthony Pare, Chief Commercial Officer
22
SEC EDGARAlec Barclay, SVP, Operations
23
SEC EDGARRahul Dhanda, SVP of Corporate Development
24
SEC EDGARJoanne Spadoro, Chief Operations Officer
25
SEC EDGARMichael A. Pfaller, Chief Medical Officer
26
SEC EDGARThomas J. Lowery, Chief Scientific Officer
27
SEC EDGARLaura Lee Adams, Board member
28
SEC EDGARNinfa Saunders, Board member
29
SEC EDGARRobin Toft, Board member
30
SEC EDGARThierry Bernard, Board member
31
SEC EDGARAdrian M. Jones, Board member
32
SEC EDGARSeymour Liebman, Board member
33
SEC EDGARSteve Elms, Board member
34
SEC EDGARAlan L. Crane, Board member
35
SEC EDGARDavid B. Elsbree, Board member
36
SEC EDGARHarry W. Wilcox, Board member
37
SEC EDGARJohn W. Cumming, Board member
38
SEC EDGARJoshua H. Bilenker, Board member
39
SEC EDGARMichael J. Cima, Board member
40
SEC EDGARStanley N. Lapidus, Board member
41
SEC EDGARThomas J. Carella, Board member
42
SEC EDGARMichael Terrence Gibbs, General counsel
43
gleifT2 Biosystems, Inc. is founded