51 documents showing 1–51

Soleno Therapeutics SLNO

Scorpion petitions FDA to recall Soleno's VYKAT XR after 7 hospitalizations for fluid overload/potential heart failure in children and alleged safety-data manipulation invalidate the drug's risk-benefit.

iRhythm Technologies, Inc. IRTC

Spruce Point argues iRhythm hid FDA-flagged Zio AT defects that killed patients and faces a DOJ cover-up probe; commoditized tech and an overstated asymptomatic market imply 40-70% downside.

Soleno Therapeutics SLNO

Scorpion shorts Soleno (SLNO), arguing VYKAT XR — a $500K/year repackaged 50-year-old generic — is causing pediatric heart-failure hospitalizations and was approved on sham trial data; the launch will collapse.

Tempus AI, Inc. TEM

Tempus AI is an AI-branded diagnostics roll-up whose tiny AI revenue, Lefkofsky-linked restatement history, and round-tripped related-party deals imply 50-60% downside to ~$25-34/share.

UFP Technologies, Inc. UFPT

UFPT's largest customer Intuitive Surgical — 96.5% of 2024 organic growth — is quietly insourcing drapes and buying from rival Microtek while insiders dumped $51M in stock.

PROCEPT BioRobotics Corporation PRCT

Procept trades at 14x revenue on a false 'all-prostates' TAM; Spruce Point sees channel-stuffing via DSOs at 130 days, no procedure growth, and 30-60% downside to $29-$54.

TransMedics Group Inc TMDX

TransMedics is a Medicare billing-fraud and kickback racket whose top transplant-center customers are fleeing as cheaper alternatives arrive — Scorpion sets a $0 target.

Eurofins Scientific SE ERF

Eurofins' €556m 'excess cash' earned just 1.42% vs banks' quoted ~2.88%, echoing the NMC Health fraud tell; only radical disclosure on cash, entities, and Dr. Martin's real estate can clear it.

Eurofins Scientific SE ERF

Eurofins' 800+ immaterial subsidiaries and 18 auditors enable sham sales and cash double-counting; new evidence, including a factoring denial contradicted by a former BU head, argues the financials cannot be trusted.

Eurofins Scientific SE ERF

Muddy Waters is short Eurofins: controlling shareholder Dr. Gilles Martin has siphoned capital via above-market real-estate leasebacks for 20 years, and the financials appear engineered to overstate revenue, profits, and cash.

TransMedics TMDX

Scorpion petitions the FDA to suspend TransMedics' OCS Liver approval, citing pervasive off-label use, necrotic-organ device failures, and an alleged systematic cover-up of safety issues from regulators.

Apellis Pharmaceuticals APLS

Citron shorts Apellis, arguing its new Geographic Atrophy drug Syfovre faces an imminent FDA warning as AAO ophthalmologists reject it 83%-17% and vasculitis cases mount.

Hims & Hers Health, Inc. HIMS

HIMS is an overvalued, commoditized ED/hair-loss e-commerce business masquerading as healthcare, with CPoM regulatory risk and new OTC Eroxon competition driving 25-40% downside to $5.20-$6.50.

Chinook Therapeutics KDNY

Chinook manipulated 2021-2022 revenues via its Chinese JV SanReno; strip out the accounting tricks and reported revenue collapses by 95% and 68% respectively, reinforcing our short.

Chinook Therapeutics Inc KDNY

Muddy Waters is short Chinook (KDNY): lead drug atrasentan is inefficacious, harmful, and blocked by sparsentan's IgAN orphan-drug exclusivity — FDA approval is highly unlikely.

Harmony Biosciences HRMY

Scorpion petitions the FDA to pull Wakix (pitolisant), arguing the H3-receptor drug is inherently cardiotoxic, clinically inferior to $10 modafinil, and approved on fraud-tainted Russian trials.

Harmony Biosciences Holdings HRMY

Scorpion shorts HRMY: Wakix is a toxic, ineffective H3 antagonist propped up by sham foreign trials, an Insys-style kickback scheme, and off-label sales — collapse is imminent.

Progyny, Inc. PGNY

PGNY is a $3.1bn fertility-benefits manager run by ex-WebMD/Medical Manager executives whose marketing claims, treatment model and 2023 growth are disputable, implying 60%-80% downside to $7-$14.

Twist Bioscience TWST

Twist is a textbook Ponzi — price-dumping commodity DNA below cost, inventing a fake 'DNA chip,' masking negative gross margins via WorldCom-style accounting fraud. Target: $0.

PMV Pharmaceuticals PMVP

PMV's Phase I readout on May 26 will disappoint: PC14586 is too weak, too toxic, and too short-lived to win FDA approval, leaving only $295M of cash behind a $628M market cap.

Stryker Corp. SYK

Spruce Point exposes Stryker's FCPA-tainted accounting, failing acquisition roll-up and margin squeeze under CEO Lobo — Strong Sell with 35%-75% downside to $67-$174.50.

Heska Corporation HSKA

Heska is a low-growth animal-health distributor — not the innovator management claims — masquerading at a 9x-sales SaaS multiple; Spruce Point sees 50-60% downside to $90-$115.

Ginkgo Bioworks DNA

Ginkgo Bioworks is a $23B SPAC fraud whose foundry 'customers' are related-party shells that round-trip cash back as phantom revenue — a US 'China Hustle' headed for a Zymergen-style collapse.

Berkeley Lights BLI

Berkeley Lights' $2M Beacon is a flow-cytometer knockoff customers call a clunker; with flat sales, fleeing insiders, and 50x-cheaper rivals, Scorpion pegs BLI at $0.

Acutus Medical Inc. AFIB

Nevro Corp. NVRO

Nevro is a failed one-trick pony at 15x sales: the pivotal SENZA trial was rigged, HF10 is a phony premise, explant rates run 22-33%, and kickbacks prop up what remains of sales.

MultiPlan Corp MPLN

MultiPlan is a financially-engineered SPAC corpse losing its biggest customer UHC to UHC's own competitor Naviguard; expect 35% revenue loss and 8x+ leverage by 2022.

Nano-X Imaging Ltd. NNOX

Nanox's $1.3B medical-imaging story is a stock promotion: the ARC device appears to be a prop, distribution partnerships are shams, and a convicted felon engineered the IPO.

AtriCure, Inc. ATRC

AtriCure's 7.5x revenue valuation assumes stand-alone Convergent succeeds, but electrophysiologists won't refer, and PFA plus real-time mapping will obsolete surgical ablation.

eHealth, Inc. EHTH

EHTH books Medicare Advantage revenue today that takes nine to twenty years to collect, masking a cash-incinerating, high-churn business reminiscent of Enron-style accounting.

Inspire Medical Systems, Inc. INSP

Inspire's surgical sleep-apnea implant is too invasive to ever scale — VA sales prove patients refuse it for free, while insiders have dumped $340M cashing out a fictional $10bn TAM story.

Align Technology, Inc. ALGN

Align's Invisalign moat is eroding as FDA-approved third-party 3D-printing labs and 3M Clarity undercut prices by 50-65%, driving 40-55% downside to $80-$115.

eHealth Inc. EHTH

eHealth books three years of Medicare Advantage commissions upfront while true churn has spiked to 47%; corrected, every MA enrollee loses $135-$402 — a cash-incinerating stock promotion.

NMC Health plc NMC

Newly disclosed NMC share pledges corroborate Muddy Waters' hidden-debt thesis: likely Enron-style off-balance-sheet financing or subsidies from undisclosed Shetty-family related parties inflating margins.

LHC Group, Inc. LHCG

LHCG's 20.6x EBITDA multiple rests on phantom organic growth — excluding the failing Almost Family acquisition inflates growth ~500 bps, masking sub-2% reality and 35-65% downside to $60-$90.

NMC Health plc NMC.LN

NMC Health's UAE hospital empire is built on inflated capex, overstated cash, hidden reverse factoring and related-party self-dealing — Muddy Waters is short and sees deep, possibly fraudulent rot.

Trulieve Cannabis Corp TRUL

Trulieve's premium-grower story is a fraud: cultivation is mostly cheap hoop houses, profits rely on biological-asset mark-ups, and the CEO's husband sits at the center of an FBI corruption probe.

PeptiDream, Inc. 4587 JP

PeptiDream's 19 pharma 'partnerships' are largely dormant and 13 years of R&D have produced zero Phase 2 drugs — analyst 2027 revenue forecasts will miss by over 60%.

Hill-Rom Holdings, Inc. HRC

Hill-Rom is a low-quality medical roll-up whose plateauing new products, exhausted margin expansion and aggressive accounting point to a 25-55% drop to $45-$75 per share.

Premier, Inc. PINC

Premier's earnings are artificially inflated by expiring pre-IPO shareback contracts; as member hospitals renegotiate at market rates, EBITDA halves and shares fall 55-75% to $8-$15.

Penumbra, Inc. PEN

Penumbra is a commoditized single-product 510(k) company whose aspiration-catheter franchise is collapsing to deep-pocketed bundlers; Spruce Point sees 40-55% downside to $85-110 per share.

CareDx, Inc. CDNA

CareDx is a $1.7bn story built on AllSure, a cfDNA kidney-rejection test that misses 40% of rejections and faces 70% annual patient attrition, competition and Medicare reset — ~70% downside.

Dexcom, Inc. DXCM

Dexcom's blow-out growth is a sugar high — driven by hidden price hikes and sensor stockpiling — and Abbott's cheap Libre 2 will commoditize CGMs, taking DXCM down 45-60% to $65-$85.

Inogen INGN

INGN's growth narrative rests on an inflated $3-4B TAM that Medicare data contradicts; under a realistic 1.3M-user market, peak unit sales arrive this year or next.

Inogen INGN

Inogen's growth is built on a reseller network that lies to elderly customers about Medicare coverage to force cash sales — competition and oversight will collapse margins to a $46 stock.

Inogen, Inc. INGN

Inogen's growth story rests on a fabricated TAM sourced from a plagiarism-riddled WinterGreen report; real market is shrinking, peak sales arrive 2019-2020, target $46 (-67%).

MiMedx Group MDXG

Prothena Corp PLC PRTA

Short PRTA: publicly-available NEOD001 data does not show efficacy — organ responses are likely driven by prior PCD chemo, not the drug, and $1.5B peak sales are unrealistic.

St. Jude Medical STJ

STJ's rebuttal to Muddy Waters' cybersecurity short report is 80% fluff and 20% substance, with admissions and deception cues that confirm its cardiac devices remain unsafe and need recall.

St. Jude Medical, Inc. STJ

St. Jude's $23B cardiac-device franchise rests on a Merlin ecosystem so insecure that hackers can crash pacemakers from 50 feet — a recall and two-year remediation imply 50%+ downside and likely covenant breach.

Valeant Pharmaceuticals VRX

Valeant is channel-stuffing through a web of captive specialty pharmacies (Philidor, R&O, plus cloned shells) to fabricate invoices and book phantom revenue — a potential Pharmaceutical Enron; price target $50.