Blood-Testing Startup Theranos Is Said to Be Shutting Down
September 5, 2018
(STAT News) – The once-heralded blood-testing startup Theranos is shutting down, according to a new report. Theranos was unable to sell itself and is now looking to pay unsecured creditors its remaining cash of about $5 million in the upcoming months, according to an email The Wall Street Journal obtained that CEO David Taylor sent to shareholders. The announcement comes nearly three months after Theranos founder and former CEO Elizabeth Holmes and former Chief Operating Officer Ramesh Balwani were charged with criminal fraud.