After The Wall Street Journal had outed that its technology was not as promoted, the downward trajectory began for both the blood-testing startup and its founder Elizabeth Holmes. The tipping point came when the FDA yanked the lab's license and also forbade Holmes from operating in that category for two years.
In addition, its lawyer - the famous David Boies - and Elizabeth Holmes had parted ways.
The end - that is, bankruptcy - was expected.
But, now, as David Z. Morris reports in Fortune, there has been a life-saver of a Christmas gift.
That is $100 million from Fortress Investment Group in the form of a loan. Fortress is set for Softbank to acquire it.
The terms and conditions of the loan, according to Theranos, are that the company will be "achieving certain product and operational milestones." Those aren't specified in detail.
Well, congratulations to Holmes for her determination to keep Theranos going. The Fortress funding will ensure that through 2018.
Get a second opinion about your marketing and advocacy communications. No pressure. No charge. Please contact Jane Genova, email@example.com or @genova_jane.