U.S. prosecutors say texts exchanged between Holmes and her then-partner, former company president Ramesh “Sunny” Balwani, show that they, too, were doubtful about Theranos’s technology, which claimed to be able to accurately perform various blood tests using just a single drop of blood. Balwani and Holmes are charged with nine counts of wire fraud and two counts of conspiracy to commit wire fraud for allegedly exaggerating and misstating the success rate of Theranos’s portable blood-testing machines to investors, doctors and patients. (Bloomberg, CNBC)

Talking point: Federal prosecutors are petitioning a judge to allow the texts to be entered into evidence before the trial begins on March 9, 2021. “Our validation reports are terrible,” wrote Balwani to Holmes in a 2015 text. “Really painful going thru this process. Same issues fda point out. Going bad so far. Pray,” he added, to which Holmes replied that she was “praying continually.” Lawyers for Holmes are trying to block prosecutors from introducing evidence that shows the luxurious lifestyle she led, which allegedly includes evidence that she used her company’s assistants to “run personal errands, perform personal tasks and purchase luxury goods.” Both Holmes and Balwani face up to 20 years in prison each, if convicted.