Theranos Violated Catastrophic Primary evidence Financial

Holmes: Theranos can run hundreds of tests on a finger-prick of blood

Made 2014-09-08 00:00:00+00 · Audience · Investors

// The promise

“We've made it possible to run any combination of tests, including sets of follow-on tests, very quickly, all from a single micro-sample. … Tests run on samples as small as a few drops of blood, taken from a tiny finger-stick.”

The New Yorker, 'Blood, Simpler', 15 December 2014 ↗

Theranos repeatedly told investors and the press that its proprietary 'Edison' device could run hundreds of clinical tests on a single drop of blood. A 2015 Wall Street Journal investigation revealed the company was running the vast majority of tests on conventional third-party machines. Founder Elizabeth Holmes was later convicted of fraud.

// What actually happened (2 sourced violations)

#1 2015-10-15 00:00:00+00 402 days later primary evidence

Wall Street Journal investigation reveals Theranos performed only a handful of its 240 tests using the proprietary device; the rest ran on standard commercial analysers.

Wall Street Journal, 15 October 2015 ↗
#2 2022-11-18 00:00:00+00 2,993 days later primary evidence

Elizabeth Holmes convicted on four counts of investor fraud; sentenced to over 11 years in prison.

US Department of Justice, 18 November 2022 ↗

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