Apr 11, 2018

Theranos in dire need of funding, embattled CEO tells shareholders

Elizabeth Holmes, founder and CEO of Theranos. Photo: Adam Jeffery/CNBC/NBCU Photo Bank via Getty Images

Elizabeth Holmes, the embattled founder and CEO of Theranos, reportedly told shareholders Tuesday that the blood testing start-up is in dire need of funding and at risk of defaulting on a $100 million loan.

The details: In a letter obtained by BuzzFeed News, Holmes said the company had been forced to delay blood testings for the Zika virus after failing to be granted approval for the technology from the FDA. The company had only received $65 million of the loan through installments based on specific progress, she wrote. The Wall Street Journal first reported that the company laid off the majority of its remaining employees to avoid bankruptcy.

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Dave Lawler, author of World
4 mins ago - World

Global coronavirus vaccine initiative launches without U.S. or China

Data: Gavi, The Vaccine Alliance; Map: Naema Ahmed/Axios

A global initiative to ensure equitable distribution of coronavirus vaccines now includes most of the world — but not the U.S., China or Russia.

Why it matters: Assuming one or more vaccines ultimately gain approval, there will be a period of months or even years in which supply lags far behind global demand. The COVAX initiative is an attempt to ensure doses go where they're most needed, rather than simply to countries that can produce or buy them at scale.

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Axios
Updated 29 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6:15 p.m. EST: 32,062,182 — Total deaths: 979,701 — Total recoveries: 22,057,268 — Map.
  2. U.S.: Total confirmed cases as of 6:15 p.m EST: 6,967,103 — Total deaths: 202,558 — Total recoveries: 2,670,256 — Total tests: 97,459,742 — Map.
  3. Health: Cases are surging again in 22 states — New York will conduct its own review of coronavirus vaccine.
  4. Business: America is closing out its strongest quarter of economic growth.
  5. Technology: 2020 tech solutions may be sapping our resolve to beat the pandemic.
  6. Sports: Here's what college basketball will look like this season.
  7. Science: During COVID-19 shutdown, a common sparrow changed its song.
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Axios
2 hours ago - Podcasts

The child care tax on America's economy

Child care in the U.S. is in crisis, which makes it much harder for the American economy to recover — as providers struggle to stay in business and parents wrestle with work.

Axios Re:Cap digs into the problems and what can be done to solve them, with Vox senior reporter Anna North.

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