Cue Health

How it happened

Cue Health sold molecular COVID-19 tests for home and point-of-care use, reaching a ~$2.3B market cap at its September 2021 IPO. As pandemic demand faded and an FDA warning letter hit its tests, revenue collapsed, and in May 2024 the company filed for Chapter 7 liquidation worth a few million dollars. Employees had watched the unraveling for months: Glassdoor reviews counted layoffs roughly every six months — one former manager tallied six rounds before the end — leaving staff on eggshells. Many pointed to the same fatal gap: a company that scaled explosively during COVID but shipped essentially one product, had no post-pandemic pipeline, and, insiders said, sat on cash it couldn't turn into revenue.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.