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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Updates: George Floyd protests continue past curfews

Protesters on Tuesday evening by the metal fence recently erected outside the White House. Photo: Olivier Douliery/AFP via Getty Images

Protests over the death of George Floyd and other police-related killings of black people continued Tuesday night across the U.S. for the eighth consecutive day — prompting a federal response from the National Guard, Immigration and Customs Enforcement and Customs and Border Protection.

The latest: Protesters were still out en masse for mostly after curfews were in force in cities including Washington, D.C., New York City, Los Angeles and Portland — where police used pepper spray and flash bangs on a group throwing projectiles at them during an "unlawful assembly," per KATU. Portland police said this group was separate to the thousands of demonstrators who protested peacefully elsewhere in the city.

Primary elections test impact of protests, coronavirus on voting

Election official at a polling place at McKinley Technology High School in Washington, D.C. Photo: Drew Angerer/Getty Images

In the midst of a global pandemic and national protests over the death of George Floyd, eight states and the District of Columbia held primary elections on Tuesday.

Why it matters: Joe Biden, the presumptive Democratic nominee, needs to win 425 of the 479 delegates up for grabs in order to officially clinch the nomination. There are a number of key down-ballot races throughout the country as well, including a primary in Iowa that could determine the fate of Rep. Steve King (R-Iowa).

Iowa Rep. Steve King defeated in GOP primary

Rep. Steve King. Photo: Alex Wroblewski/Getty Images

State Sen. Randy Feenstra defeated incumbent Rep. Steve King in Tuesday's Republican primary for Iowa's 4th congressional district, according to the Cook Political Report.

Why it matters: King's history of racist remarks has made him one of the most controversial politicians in the country and a pariah within the Republican Party.