{ "docId": "019dd923-622c-750b-8b9a-4b91788fc785", "docSlug": "5fadb686cc03", "documentTitle": "Twist Bioscience (TWST)", "authorId": "58_Scorpion_Capital", "authorName": "Scorpion Capital", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-11-15 00:00:00", "orientation": "landscape", "aspectRatio": 1.2941177, "pageNumber": 152, "pageCount": 236, "prevPage": 151, "nextPage": 153, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 0, "notes": "The slide uses a direct quote from a Novartis scientist to undermine Twist's 'high-throughput' value proposition.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-4b91788fc785/152", "deckHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785#slide-152", "components": [ { "bbox": null, "kind": "callout", "text": "Twist is incapable of producing the lot sizes pharma companies need; lot consistency is \"very important\"; no value proposition for pharma vs. competitors that provide other value-added services vs. Twist's commodity offering", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-0932-77cf-bff0-795eb0a8bc0c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.33 }, "kind": "paragraph", "text": "As a result, they'd have order product from different lots, creating a major headache as lot consistency is \"very important,\" given the time and expense to qualify every new lot: \"it doesn't make sense because people in the lab lose time, and this means money and time.\"", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d8f849d8-42d2-4a76-bdda-aefae76a5d68", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.9, "x": 0.05, "y": 0.45 }, "kind": "quote", "text": "When I order something on phase two/phase three because of these big quantities, they are also really big orders that may be one oligo where one lot is $50,000. But then we will use that lot for the next probably six to nine months. And then something that may be interesting that they could also offer is that because when we order these very big lot, for us, it's very important that everything is from the same lot because when you work on the GMP, every time that you change the lot, you need to qualify it. If we had to qualify every kind of two months, it doesn't make sense because people in the lab lose time, and this means money and time for the company. Some companies, for example, Thermo, even offer that they will produce this big lot for us and they will store it for us because also our storage is not unlimited and most of these products need to be under -80 or even colder. And then they say, we'll produce this lot for you specially. We will store them for you, and we will—depending on the product—we will send every six months these amounts or every time that you need them, you call us, and they'll send them to you. They even kind of anticipated our problem and they said we can offer a storage solution. You don't even need to occupy a lot of space in your freezers.", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "562a6b2a-0f9e-488c-b8b8-534dad010aca", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"When I order something on phase two/phase three because of these big quantities, they are also really big orders that may be one oligo where one lot is $50,000. But then we will use that lot for the next probably six to nine months. And then something that may be interesting that they could also offer is that because when we order these very big lot, for us, it's very important that everything is from the same lot because when you work on the GMP, every time that you change the lot, you need to qualify it. If we had to qualify every kind of two months, it doesn't make sense because people in the lab lose time, and this means money and time for the company.\" — Novartis, a large Twist customer, scientist in a leadership role", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-0932-77cf-bff0-7d57907ec4ad", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.05, "y": 0.95 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0a6ed8a6-ba8b-4035-a12f-c234c4faff22", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Novartis shed light on a critical reason why pharmaceutical companies can't use Twist for real work such in the clinic, where the real volumes and revenue are, and why its claim of a \"high-throughput\" platform is absurd: Twist is incapable of producing the lot sizes pharma companies need.", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9b4a58d0-12e2-470c-a627-f928b826fb3a", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "fraud-exposure", "slug": null, "matchId": "4ae552d8-7dfe-472e-85e4-e86891ebf367", "evidence": "The slide explicitly frames the company's claims as 'absurd' and uses expert testimony to contradict the marketing narrative.", "confidence": 0.9 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }