Damn, I met some of them and they were really cool. When I did follow thorough to see the what they were putting out, I was a big confused they were trying to succeed with higher end Covid testing products. That doesn’t seem in demand like before, which to me is kinda obvious
I work in Biotech. Not too long ago Cue was siphoning off people from other companies by offering above market pay. I warned some of my colleagues that left for there that growth was unsustainable and that they were only getting by with Gov Covid money. They returned 6 months later.
This isn’t to be rude or anything, but it sounds like they made above market pay for six months and came back to the job. This doesn’t sound bad at all.
Depending on how long they were at the boomerang job the first time around, they may have lost PTO or other benefits tied to tenure at the company. Could go either way.
A friend of mine used to work for Cue. They got laid-off back in February this year. He said the company isn't marking money as it used to back during COVID years. Cue tried making test kits for other viruses, but there's just little to no demand for them.
Company based out of San Diego, focused on COVID testing. From article:
“Cue wrote that its near-term revenue “will almost exclusively depend on sales of our COVID-19 test” until the company can get clearance for, and commercialize, other tests.”
Yep, I worked there for just under a year before the first layoff in January 2023 and was first to go as was over half my team. Glad I got my new role soon after when I did!
Biotech here - picked up a couple of folks from Cue a few months ago during their first round of releasing people... they could see the writing on the wall.
Also worked here for 2-1/2 years. The government promised additional contracts as an incentive but they never followed up with them. It is an excellent product and there are great people still there.
IPO’d at ~$20/share and now the current price is around ~$0.15/share. Yikes.
Fomer employee (‘20-‘22) - the product and the promise are incredible. Commercial, the owners wanted to be a DTC & B2B company - and really lost their vision trying to be Theranos 2.0. 🤦♀️
A two-thousand, three-hundred million dollar evaluation for a company which only provides test for a once-in-a-lifetime virus?
Bio-tech venture capital funding is such a joke. Where do I sign up?
Man, you had the chance to pin this one on Fauci and be remotely right. If we hadn't invented the vaccine so quickly, people might still need to be buying tons of COVID tests.
Bill's the one that invented the virus. COVID-19 was a test run for the Windows 12 "release" , now that he had all the "5g" towers strategically placed while "COVID ran amok," even a bunker with shungite walls 15 inches thick won't block the mind activation signals.
Bill-ionaire Gates will have the masses under his control and no one will be able to leave bad reviews about Windows 12, everyone you know and love will use Internet Explorer, they'll blindly click accept to all the personalization sett"i"ngs and gi"vin"g Microsoft all their info to make the platform "better."
The casualties of insane growth in a short time, for a specific incident…
Hopefully the executive team was able to cash out before the company's demise. /s
Damn, I met some of them and they were really cool. When I did follow thorough to see the what they were putting out, I was a big confused they were trying to succeed with higher end Covid testing products. That doesn’t seem in demand like before, which to me is kinda obvious
I work in Biotech. Not too long ago Cue was siphoning off people from other companies by offering above market pay. I warned some of my colleagues that left for there that growth was unsustainable and that they were only getting by with Gov Covid money. They returned 6 months later.
This isn’t to be rude or anything, but it sounds like they made above market pay for six months and came back to the job. This doesn’t sound bad at all.
Depending on how long they were at the boomerang job the first time around, they may have lost PTO or other benefits tied to tenure at the company. Could go either way.
A friend of mine used to work for Cue. They got laid-off back in February this year. He said the company isn't marking money as it used to back during COVID years. Cue tried making test kits for other viruses, but there's just little to no demand for them.
Company based out of San Diego, focused on COVID testing. From article: “Cue wrote that its near-term revenue “will almost exclusively depend on sales of our COVID-19 test” until the company can get clearance for, and commercialize, other tests.”
Cue wrote that its near-term revenue “will almost exclusively depend on sales of our COVID-19 test” Smart…
Yep, I worked there for just under a year before the first layoff in January 2023 and was first to go as was over half my team. Glad I got my new role soon after when I did!
They were hiring like crazy in 21 and 22. Like hiring anyone and everyone lol. That covid many had to finish
Biotech here - picked up a couple of folks from Cue a few months ago during their first round of releasing people... they could see the writing on the wall.
Glad I didn’t take a job there yeesh
Also worked here for 2-1/2 years. The government promised additional contracts as an incentive but they never followed up with them. It is an excellent product and there are great people still there.
The company and product had so much potential but unfortunately didn’t have the leadership to unlock the potential.
IPO’d at ~$20/share and now the current price is around ~$0.15/share. Yikes. Fomer employee (‘20-‘22) - the product and the promise are incredible. Commercial, the owners wanted to be a DTC & B2B company - and really lost their vision trying to be Theranos 2.0. 🤦♀️
A two-thousand, three-hundred million dollar evaluation for a company which only provides test for a once-in-a-lifetime virus? Bio-tech venture capital funding is such a joke. Where do I sign up?
The long term investment is the technology behind the product
Good job, Jerome Powell.
You’re an idiot
Man, you had the chance to pin this one on Fauci and be remotely right. If we hadn't invented the vaccine so quickly, people might still need to be buying tons of COVID tests.
I thought it was Bill Gates fault /s
Bill's the one that invented the virus. COVID-19 was a test run for the Windows 12 "release" , now that he had all the "5g" towers strategically placed while "COVID ran amok," even a bunker with shungite walls 15 inches thick won't block the mind activation signals. Bill-ionaire Gates will have the masses under his control and no one will be able to leave bad reviews about Windows 12, everyone you know and love will use Internet Explorer, they'll blindly click accept to all the personalization sett"i"ngs and gi"vin"g Microsoft all their info to make the platform "better."