{ "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": 91, "pageCount": 236, "prevPage": 90, "nextPage": 92, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 0, "notes": "The slide uses direct quotes from an industry expert to frame Twist's technology as fundamentally flawed and prone to the same failure modes as previous market participants.", "elementsJson": [ "paragraph", "quote_block" ], "metadataConfidence": 0.95, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-4b91788fc785/91", "deckHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-4b91788fc785#slide-91", "components": [ { "bbox": null, "kind": "callout", "text": "Twist is going through the same set of issues since it’s basically the same technology as Agilent...when we were trying to create oligonucleotides for Gen9.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-0932-77cf-bfeb-9664718eb75d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.6 }, "kind": "paragraph", "text": "Difficult to manufacture low-error, high-fidelity oligos; Twist experiencing same problems as other companies that therefore exited the space or failed; same technology and same problems as Agilent", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "96cc8409-2546-4358-9b11-045c70968a19", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.25 }, "kind": "paragraph", "text": "Errors in oligo manufacturing are inevitable and require “very long and arduous next-generation sequencing” that’s “expensive,” “slow,” and requires “a lot of high-level PhD’s”", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ef94e889-a02e-4cfb-91bc-bf31973a83c6", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.32 }, "kind": "quote", "text": "“Once you get the sequences made, you need a special process... Now you have to examine every one of those oligonucleotides and determine how many errors were created... you're going to get errors... It's expensive, it's slow, and it requires a lot of high-level PhDs to run it.” —Longtime oligonucleotide manufacturing expert and executive; ex-Agilent", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a2525277-e394-4dec-b990-6889544751a3", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.9, "x": 0.05, "y": 0.67 }, "kind": "quote", "text": "“I think that’s why the market adoption is somewhat slowed relative to the early-on growth estimates because of the error rates... I would think that Twist is going through the same set of issues since it’s basically the same technology as Agilent.” —Longtime oligonucleotide manufacturing expert and executive; ex-Agilent", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f63febcf-40fc-44d3-82e5-303e05945dd0", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“Now you have to examine every one of those oligonucleotides and determine how many errors were created in the oligonucleotide base pair sequence and then cull out those that meet the customer requirements... It’s expensive, it’s slow, and it requires a lot of high-level PhDs to run it.” — Longtime oligonucleotide manufacturing expert and executive; ex-Agilent", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-0932-77cf-bfeb-9a319601dd9c", "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": "c864f722-bd0d-4afb-b35d-d5cb190e6431", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Experts underscored the inevitability of errors during oligo manufacturing...", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "94600933-0437-4241-b88c-860c99a11684", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "antagonist-introduction", "slug": null, "matchId": "1b2bd65e-55ef-4619-b0d3-1b3705e6c9b0", "evidence": "Frames Twist as the 'villain' or failing entity by comparing it to failed predecessors.", "confidence": 0.8 } ], "arcBeats": [], "loops": [ { "to": 100, "from": 90, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "ba084e17-8baa-48c4-95ae-b7f2113f8ae2", "evidence": "Analysis of Twist's financial struggles and industry implications", "position": 1, "objective": "Highlight the consequences of Twist's actions", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.6, "description": "Quantify what happens if the audience does nothing" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }