Founder and CEO who is a doctor with experience in business and consulting before starting DOC is “retiring” to no longer be part of the company.
I think they raised capital just a bit too late. Thus, when they became a baby thrown out with the bath water, it didn’t have the balance sheet to survive.
With an impending capital raise likely to be very dilutive and the founder now gone, I’m not sure how investors can win here. A bidding war and takeover does not seem that likely.