The rise and fall of Theranos, the blood-testing startup that went from Silicon Valley darling to facing fraud charges

• Theranos, the blood-testing startup once valued at $9 billion, has fallen far from grace.
• Its former CEO and founder Elizabeth Holmes faces criminal chargesstemming from allegations that she and former Theranos president Sunny Balwani engaged in a scheme to defraud investors. 
• First founded in 2003 by a 19-year-old Holmes, here are the events that contributed to the rise, the fall, the pivot, and now criminal charges facing Theranos and its founder.
• Theranos is the focus of "The Inventor: Out for Blood in Silicon Valley," a documentary debuting Monday at 9 p.m. ET on HBO.

Theranos' star was shining bright going into 2015. 

The blood-testing startup had racked up a $9 billion valuation with its big vision to test for a number of conditions using a small sample of blood, and its CEO Elizabeth Holmes was featured on the covers of business magazines and lists of top executives. But then questions started being raised about how the company's technology worked. 

As Wall Street Journal reporter John Carreyrou details in his book, "Bad Blood: Secrets and Lies in a Silicon Valley Startup," the events leading up to the downfall of the company started unfolding years earlier. The book gives a behind the scenes look into the events that propelled Theranos into chaos.

In June 2018, Holmes stepped down as CEO of Theranos, remaining with the company as a founder and chair of the board. She was also charged with wire fraud by the Department of Justice. In September, Theranos shut down.

Theranos is the focus of "The Inventor: Out for Blood in Silicon Valley," a documentary debuting Monday at 9 p.m. ET on HBO.

Here are the events that contributed to the rise, the fall, the pivot, and now criminal charges of the once promising company founded by Holmes. 

This article was initially published in May 2018 and has been updated. Charlotte Hu contributed to an earlier version of this post. 

SEE ALSO: The reporter who broke the Theranos saga wide open pinpoints the moment he knew he had a big story on his hands

DON'T MISS: The rise and fall of Elizabeth Holmes, who started Theranos when she was 19 and became the world's youngest female billionaire before it all came crashing down

Elizabeth Holmes arrived at Stanford University in 2002 filled with ideas. She took one to Dr. Phyllis Gardner, a Stanford Medical School professor. Holmes wanted to build a patch that would scan the wearer for infections and release antibiotics. Gardner tried to explain to her why that might not work (The antibiotics Holmes wanted to use needed to be given at higher doses than a patch could deliver).

Source: Business Insider

But Holmes was not deterred. Holmes went on to drop out of Stanford University in 2003 at the age of 19 to start Theranos, which was then called Real-Time Cures. She was inspired both by her grandfather's medical career, and her summer 2003 internship at the Genome Institute of Singapore.

Shaunak Roy, a PhD student Holmes was assisting in Professor Channing Robertson's lab, joined her at Theranos in May 2004 as its first employee. Robertson joined the company's board as an adviser.