Theranos secretly bought lab equipment through a shell company, faked tests and inappropriately pumped up its financial outlook to investors, according to allegations in recently unsealed court documents, first reported by the Wall Street Journal. Partner Fund Management LP, a hedge fund management firm which invested $96 million in Theranos …
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One way Theranos is hoping to stay afloat is by offering double the shares — including some of founder Elizabeth Holmes’ own shares — to investors if they promise not to sue. Theranos is knee-deep in an avalanche of lawsuits from investors and consumers of its blood-testing products after it …
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It probably comes as no surprise: Theranos, the blood testing technology company once worth billions, is struggling to survive. A new report from The Wall Street Journal says the company had just $200 million cash on hand left at the end of 2016 — a quarter of its $800 million in …
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Theranos closed its last remaining blood-testing facility after the lab reportedly failed a regulatory inspection, according to a Wall Street Journal report. The company, once valued at $9 billion, is shifting its focus to a portable ‘lab on chip’ virus-detection box after its blood-testing business, once labeled revolutionary, came under repeated fire …
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Not a week goes by and it seems like we hear more bad news about Silicon Valley’s darling turned cautionary tale Theranos. The latest bit is a whopping 155 layoffs at the company today. The one drop blood test company once worth $9 billion took a quite the tumble from …
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Embattled medical testing firm Theranos has made the decision to get out of the laboratory testing industry. This is a major reversal for the company, following government scrutiny that resulted in a 2-year ban on CEO Elizabeth Holmes running a laboratory. Instead of running labs, Theranos will try selling its …
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