2020 Layoffs

How many ? Who was affected ?

 

8% across the company. Not sure where they started.

 

More are coming.

Biotech Testing Company to Pay $49 Million to Settle Allegations for Fraudulent Billing and Kickback Practices

 

IPO from $15 to sub $4
Too many shareholder lawsuits to count
Significant layoffs to start and voluntary departures continue
Insider stock selling to take place when lock up expires
Another payer clawback of $25mm
Declining reimbursement for genetic testing
Covid revenue $$ bump to disappear
Preeclampsia news...big yawn

 

why would insiders sell? everyone is pretty far underwater at this point.

 

IS THERE ANY GOOD NEWS OUT THERE? Is the product good? Can the reps compete at all? Can they get out of this in 12-24 months. Stock price is soo low and the industry is hot. Will the ceo be able to navigate through this and be successful?

 

Looks like a mass exit these past few weeks and more to come. It’s amazing to watch a company fall right before your eyes. They have given so much power to K. Bogden and legal, Hutan and the company is crumbling under their leadership. What used to be a great company to work for is no more. Exec team doesn’t seem to have a care in the world for the mass departures. Blaming those leaving instead of taking a look in the mirror.

 

Any insight to this? I have been contacted by a recruiter and doesn’t look like the best fit. Would love to know why everyone is leaving and why no one seems to care?

 

See, that's how cults work. Shun the nonbelievers.

 

Will there be more layoffs this year? We seem to be losing more business than we are gaining.

 

Fired their VP of Sales. Tanking hard.