You can be on Entrepreneur’s cover!

Theranos Founder Says the Company Will 'Absolutely' Get FDA Approval Despite a recent barrage of bad press, the company's founder and CEO is confident in the company's future.

By Jennifer Reingold

entrepreneur daily

This story originally appeared on Fortune Magazine

Theranos founder and CEO Elizabeth Holmes is not hiding.

As criticisms of her blood technology company continue to mount, Holmes took the stage at the Fortune Global Forum on Monday and defended her company.

Pushed by Fortune Editor Alan Murray to admit mistakes, Holmes would say only that Theranos needs to "do a better job of communicating" the science and the data behind its offerings. "We haven't put into the public domain much of our work," she said. "We haven't talked about our devices."

Holmes did confirm that the company, only "as of a few weeks ago," is using only one "finger prick" blood test commercially, but says that was her own decision, based on her desire to get FDA approval for its process. " Right now, just because of this FDA transition," she said, "we are only doing one, but that doesn't mean we don't have the technology to do them. There's no reason we can't do peer review and publish other statistics."

Will the FDA approve Theranos' process? "Absolutely," she said, seemingly unshaken by the events of the past few weeks.

When asked about Walgreens -- Theranos' biggest customer -- deciding to hold off on further expansion, Holmes revealed that no one from the company had reached out to her to say so. "They haven't said that to us," she insisted.

Holmes also calmly waved off suggestions that the company, valued at $9 billion in its latest round of financing, might be worth less as a result of the controversy. "That's for the investors to decide," she said. "But we are definitely not in a position where we need to raise financing at this time."

Jennifer Reingold

Senior Editor

Jennifer Reingold is a senior editor for Fortune Magazine.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Science & Technology

AI Will Radically Transform the Workplace — Here's How HR Teams Can Prepare for It

HR intrapreneurs are emerging as key drivers of AI reskilling, thoughtful organizational restructuring and ethical integration, shaping an inclusive future where technology enhances both efficiency and employee development.

Business News

Some Costco Stores Are Now Selling a Frozen Item That Looks Just Like a Trader Joe's Fan Favorite

The Frozen Kimbap is a Trader Joe's cult favorite, and now a version can be found at Costco, too.

Side Hustle

He Took His Side Hustle Full-Time After Being Laid Off From Meta in 2023 — Now He Earns About $200,000 a Year: 'Sweet, Sweet Irony'

When Scott Goodfriend moved from Los Angeles to New York City, he became "obsessed" with the city's culinary offerings — and saw a business opportunity.

Health & Wellness

How This Millionaire Investor Overcame Opioid Addiction to Become the World's Fastest Marathoner Over 50

Ken Rideout shares five invaluable lessons for achieving peak performance physically and mentally.

Marketing

Why This One Unique Marketing Approach is the Key to Business Growth

Adopting this approach now will help you succeed and see consistent, measurable growth over the long term.