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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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Theranos

Theranos, the embattled blood-testing company, plans to offer additional shares to existing investors if they agree not to sue the company, according to a report from the Wall Street Journal citing anonymous sources. Theranos reportedly only has $200 million in cash left, but is already facing multiple lawsuits, including from former partner Walgreens and investor Partner Fund Management.

The deal: The shares would come from founder and CEO Elizabeth Holmes' personal stake in the company, which would result in her losing her majority ownership. According to the Journal, early investors aren't included in the deal, and weren't even informed of it.

Murdoch exit: Theranos has reportedly agreed to buy back the stake Rupert Murdoch, the executive chairman of News Corp. and 21st Century Fox, purchased for $125 million in 2015.

Go deeper

Trump's Republican critics rake in cash

Reps. Liz Cheney and Adam Kinzinger during the first Jan. 6 hearing. Photo: Andrew Harnik-Pool/Getty Images

Republican critics of Donald Trump have raked in campaign cash this year as their votes to impeach the former president and investigate the Jan. 6 Capitol attack have put them in the crosshairs of Trump and his allies.

Why it matters: The 2022 midterms won't just determine which party controls Congress. They're also shaping up to be a test of Trump's continued hold on the GOP. The few remaining Republican dissenters in Washington need to put up big fundraising numbers if they hope to stave off a purge.

The Republicans' mixed mandate message

Illustration: Annelise Capossela/Axios

Republicans have expressed selective rage amid the rise of the Delta variant: They rail against the return of indoor masking but are far less vocal about vaccine requirements.

Why it matters: Masking may help reduce the spread of the coronavirus, but the real solution to the pandemic is getting more Americans vaccinated. Increased support for that — including the use of heavier-handed methods like mandates — will only increase its chance of succeeding.

Mitch’s Sinema secret

Sen. Kyrsten Sinema. Photo: Stefani Reynolds/Bloomberg via Getty Images

Senate Minority Leader Mitch McConnell (R-Ky.) is urging his fellow Republicans to buck up Sen. Kyrsten Sinema of Arizona — a Democrat, sources familiar with the conversations tell Axios.

Why it matters: Republicans view Sinema and her moderate Democratic colleague Sen. Joe Manchin of West Virginia as their last line of defense against sweeping progressive laws — ranging from a $3.5 trillion social welfare bill to potentially irreversible structural changes like eliminating the filibuster and adding new states to the union.

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