NEWS COMMENTARY

Blood-testing company Theranos to finally dissolve

Published:
September 05, 2018
Coverage:
Digital Transformation More...
Activities:
Bankruptcy More...
by Nardev Ramanathan
Average importance

Theranos finally announced it will shut down. The company has arguably run one of the biggest biotech scams in modern times. Once a Silicon Valley darling valued at $9 billion, things started to go downhill for Theranos after a 2015 exposé in October 2015 questioned the accuracy and reliability of its blood tests, eventually leading to criminal investigations. Theranos claimed it could provide comprehensive blood tests with just a few drops of blood, a claim it failed to deliver on. Apart from its false technology claims, it also misled investors by claiming to have revenues exceeding $100 million, when in fact it barely made $100,000. Clients should take note of this cautionary tale about the dangers of biotech hype outpacing reality. 

For the original news article, click here .


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