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  "documentTitle": "Twist Bioscience (TWST)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
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  "presentationDate": "2022-11-15 00:00:00",
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  "notes": "Uses Q&A interview transcripts to build a case against the sustainability of Twist's pricing.",
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      "text": "Our interviews suggest that Twist charges Ginkgo 1.5 to 2 cents per base pair - an 80-90% discount off typical list prices.",
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      "text": "discount rate: 90%",
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      "kind": "paragraph",
      "text": "An R&D Director at Abbvie stated that they receive a 20% discount and that Twist has been recently dangling larger discounts in exchange for more regular orders. As another example, we note Twist’s much-hyped deal with Ginkgo Bioworks, which we discuss later. Our interviews suggest that Twist charges Ginkgo 1.5 to 2 cents per base pair – an 80-90% discount off typical list prices.",
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      "kind": "quote",
      "text": "We got a maximum of 20% discount, and that’s for larger volume. They keep telling us - they told me if you can give us some visibility into the year at the beginning of the year, we can work out a better discount if you tell us how much you’re going to order. But, in the end, it wasn’t worth it for us. We got maybe 15% and no more than 20%. -Abbvie R&D Director; Twist customer",
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      "kind": "quote",
      "text": "A: “I can tell you it’s consistent with what the buzz was, which I believe they were at 2 cents a base.” ... A: “I believe Twist went to 2 cents. That’s my understanding. I mean, I didn’t see the contract.” - Executive previously at Gen9",
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      "text": "I believe Twist went to 2 cents. That's my understanding. I mean, I didn't see the contract. — Executive previously at Gen9, a key Twist competitor.",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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      "kind": "title",
      "text": "Twist discounts aggressively not just for academics and start-ups - the bread-and-butter of its low-end customer base - but also for larger players that toss some business its way.",
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