Theranos Burned Through $2M a Week as Investors Were Given Rosy Projections
Wednesday September 15, 2021. 06:40 PM , from Slashdot
In court yesterday, jurors heard testimony from the company's longtime chief financial officer, Danise Yam, who also goes by So Han Spivey. Yam said that Theranos lost $16.2 million in 2010, $27.2 million in 2011, $57 million in 2012, and $92 million in 2013. In 2013, things had 'started to get a bit tight,' Yam said. There were weeks where the company was burning through around $2 million per week, and there wasn't any revenue to help ameliorate the losses. In 2012 and 2013, Yam didn't even bother adding a line for revenue -- there was none.
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Sep, Mon 27 - 11:48 CEST