{
  "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": 159,
  "pageCount": 236,
  "prevPage": 158,
  "nextPage": 160,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "Uses direct quotes to undermine the company's technical capabilities.",
  "elementsJson": [
    "paragraph",
    "quote_block"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-4b91788fc785/159",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785#slide-159",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "we would have to admit failure because our processes were not good enough to provide a GC-rich gene.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0932-77cf-bff1-8be47cd857b1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.9,
        "x": 0.05,
        "y": 0.25
      },
      "kind": "paragraph",
      "text": "An ex-manufacturing employee stated that Twist has “issues in regard to getting that [longer] gene to you” – “major thing that was wrong” - and a customer indicated a similar issue with oligo pools, the building block of Twist’s product line. In addition, Twist struggles to make GC-rich sequences – ATCG are the four nucleobases in DNA strands, and Twist fumbles with sequences with more GC-base pairs: “we would have to admit failure because our processes were not good enough to provide a GC-rich gene.”",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "63e7e7cf-d3a4-45ec-977f-404e7d273117",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.9,
        "x": 0.05,
        "y": 0.48
      },
      "kind": "quote",
      "text": "“Major thing that was wrong” with Twist’s manufacturing; “issues” in making large genes and GC-rich sequences... -Ex-Twist employee in manufacturing, now a research professor",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "45bc5a38-35ea-4909-b48e-632b7c45b2e0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.05,
        "y": 0.75
      },
      "kind": "quote",
      "text": "Twist has difficulty making oligo pools with longer sequences... -Current Twist customer, professor with a protein therapeutics lab at a major university",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e929a531-9bfa-47cc-967b-d258f8c2ae10",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“When I was there, one major thing that was wrong - I'm going to give you an example. You are a customer, and you order a gene that is pretty large. First of all, that's going to give us issues in regard to getting that gene to you. It's going to take a little bit longer because the science is harder for us to get that onto a vector for. Another thing that was not going well for us was if you order a gene that is what we call “GC-rich,” meaning that there are a lot of G's and C's in this gene, it would also be hard for us to print that gene for you and get that to you within a short amount of time. Sometimes, people put in that order with Twist and PacBio at the same time because they want to do a test to see who gets it to me faster. .. if you order a gene that's GC-rich, sometimes, we would have to admit failure because our processes were not good enough to provide a GC-rich gene.” — Ex-Twist employee in manufacturing, now a research professor",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-0932-77cf-bff1-8d0c143504ff",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.3,
        "x": 0.05,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: Scorpion Capital consultation calls with experts",
      "attrs": {
        "numbered": true
      },
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4d35b8a0-c5ef-4e23-afd9-0158d000b48a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.9,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "title",
      "text": "Ex-employees and customers outlined major limitations in Twist’s ability to fulfill orders vs. competitors, notably its inability to make longer oligo pools and gene sequences with more base pair.",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "34c943db-4ce8-4d5e-a483-57828542dece",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "antagonist-introduction",
      "slug": null,
      "matchId": "8486fa18-7346-4c9f-8163-9bed63df58f7",
      "evidence": "Uses expert testimony to frame the company as incompetent.",
      "confidence": 0.8
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}