Eudius, I have been following this company, b
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Posted On: 05/25/2018 2:23:34 PM
Eudius,
I have been following this company, because when news first came about
about their blood test, I also thought this could be amazing. But as it turned out, this Elizabeth Holmes, CEO/President of Theranos, fooled everybody. I think there was a whistleblower in 2015 and then the SEC investigated with a finding of "massive fraud" since the advertised blood test technolgy never worked as advertised. Theranos settled with the SEC by paying a large sum. At the height of her rise the company was worth 10 billion , now it is worth practically zero. Most employes were terminated, offices closed. Investors were fooled and patients were endangered.
Although she agreed to a settlement with the SEC, apparently a criminal investigation is continuing into her massive, multi-year fraud situation.
So bottomline: IMO, this story tells how some companies screw everybody, including investors and patients, just to reach fame and wealth. And then you have other companies like NNLX, who have solid and proven diagnostics such as the flatpack (tested and proven and paper issued by the prestigeous lab Battelle) which is in the beginning of commercialization, and the game-changer N-Assay with pretest (tested and proven by the doctors in HOU and introduced at several ASM Conferences) , which will be commercialized after pretest is developed. So real, solid technology and a management and CEO who brought this company to this point by his interest, dedication and forward looking ideas.
I have been following this company, because when news first came about
about their blood test, I also thought this could be amazing. But as it turned out, this Elizabeth Holmes, CEO/President of Theranos, fooled everybody. I think there was a whistleblower in 2015 and then the SEC investigated with a finding of "massive fraud" since the advertised blood test technolgy never worked as advertised. Theranos settled with the SEC by paying a large sum. At the height of her rise the company was worth 10 billion , now it is worth practically zero. Most employes were terminated, offices closed. Investors were fooled and patients were endangered.
Although she agreed to a settlement with the SEC, apparently a criminal investigation is continuing into her massive, multi-year fraud situation.
So bottomline: IMO, this story tells how some companies screw everybody, including investors and patients, just to reach fame and wealth. And then you have other companies like NNLX, who have solid and proven diagnostics such as the flatpack (tested and proven and paper issued by the prestigeous lab Battelle) which is in the beginning of commercialization, and the game-changer N-Assay with pretest (tested and proven by the doctors in HOU and introduced at several ASM Conferences) , which will be commercialized after pretest is developed. So real, solid technology and a management and CEO who brought this company to this point by his interest, dedication and forward looking ideas.
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