December 13, 2022, 11:31 p.m; Updated: December 13, 2022, 11:46 p.m
The value of Twist Bioscience Corp. shares. fell 20% after the release of a recent report that said the synthetic DNA maker’s business was largely delusional, says an investor in a proposed stake in the group.
Short-selling research firm Scorpion Capital LLC concluded that Twist is disguising most of its $95 million in annual expenses through a facility construction scam, that it advertises non-existent “proprietary” DNA technology and that it unsustainably undercuts competitors by pricing its services. well below cost, says shareholder Anthony Joseph Peters. Peters filed the complaint Monday in the U.S. District Court for the Northern District of California.
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