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  "documentTitle": "Twist Bioscience (TWST)",
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      "text": "Twist’s pricing doesn’t cover cost of goods sold, given errors and quality control; putting in “a lot more money”",
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      "text": "gross margin: 45%",
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      "text": "An ex-Agilent executive and oligo manufacturing executive estimated that Twist’s COGS is a lot higher than indicative list pricing of 9-10 cents per base pair, given errors and the cost of quality control.",
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      "kind": "quote",
      "text": "Pricing below manufacturing cost; Twist loses money on a gross margin basis; their “investors are subsidizing” the free money that Twist metaphorically ships to customers with every order; “I’ve never understood”",
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      "text": "“you put a lot more money into just 9 cents a base pair”; “we found it really hard to make money.”; “investors are subsidizing”; “$20 bill”; “to be honest with you, I’ve never understood.” — Longtime oligo manufacturing expert and executive; ex-Agilent / Ex-senior executive of Gen9",
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      "text": "Multiple industry experts indicated that Twist is selling below it cost to manufacture – in other words, a negative gross margin vs. a reported ~45% in the last quarter.",
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