Theranos, the medical-testing company valued at $9 billion, is doing just fine despite a Wall Street Journal (WSJ) investigation questioning the effectiveness of the firm’s technology, according to a new interview conducted at the Forbes Healthcare Summit.
Elizabeth Holmes, the CEO of Theranos, told moderator Matthew Herper her enterprise experienced its highest volume of patients taking its blood tests after the WSJ story came out.
Theranos specializes is in a slew of blood tests said to offer a cheaper, accurate alternative to standard clinical lab diagnostics. The company claimed its products could identify traces of herpes simplex 1 from a single drop of blood.
The WSJ report, though, explained Theranos was using its proprietary technology named Edison to analyze a fraction of submitted tests while relying on traditional lab tools from other companies to analyze the remainder.
Holmes’s company has denied these allegations, but she told Herper she saw an opportunity to help a national audience better understand how Theranos’s tests work, according to Business Insider.
Holmes, however, told Herper she felt confident her company can handle more controversy if it arises as it tries to get regulatory approval from the Food and Drug Administration (FDA) for its finger-stick tests.
Filed Under: Drug Discovery
