Biotech and Pharma

Theranos CEO: Underlying technology is sound

Elizabeth Holmes
David Orrell | CNBC

Theranos CEO Elizabeth Holmes fought back on Wednesday against accusations that the technology at the heart of the blood-testing startup has grave flaws.

Holmes delivered her defense of her company at a technology conference hosted in Laguna Beach by The Wall Street Journal, which last week published a pair of stories suggesting her startup was relying on technology from traditional labs as it struggled with its own technology.

But Holmes said the company has moved away from one of its devices only briefly as it transitions to getting approval from the Food and Drug Administration for all of its tests. She cited her successful lobbying for a law in Arizona that allows patients to get blood tests without a doctor's order.

"I personally in Arizona worked very hard to change the law," she said.

"I can't do that without knowing that the tests that are offered are of the highest quality."

After the Journal's first article came out, Holmes told CNBC's "Mad Money" she was personally shocked to see that the Journal would publish the article, as her company had purportedly sent the paper more than 1,000 pages of documentation that allegedly refuted the statements in the story.

The Journal stood by its reporting.

—CNBC's Fred Imbert contributed to this report.