Last week T2 Biosystems Inc (NASDAQ:TTOO) was in significant focus among investors after the company made a major announcement on September 8. At the time, T2 announced its plans by way of which it was looking to consolidate all the existing facilities under its control under one roof.
To that end, the company announced that it was planning to move into a facility at Billerica in Massachusetts that it leased not too long ago. It goes without saying that it was a major announcement from T2 and this past Friday, the company’s stock saw some heavy action as well.
The T2 stock soared by as much as 24% as investors piled on to the stock in a big way. As per the announcement from T2 on September 8, the current operations that are housed in facilities located at Wilmington, MA and Lexington, MA are both going to be moved to the Billerica facility.
The company noted that it is a move that is expected to help the company in accelerating growth in the future. While it is expected to be a major move from T2, the company believes that the move is going to be completed by the second half of next year.