CEO David Taylor confirmed that the firm will dissolve after efforts to pay creditors - to whom they owe $60 million (£46.4 million) - with its remaining supply of cash. In June, a grand jury indicted Elizabeth Holmes and Ramesh "Sunny" Balwani on almost a dozen wire fraud charges, saying they defrauded investors, doctors and patients.
Federal prosecutors had filed criminal charges against Theranos founder Elizabeth Holmes and the company's former No. 2 executive.
The indictment by the US attorney in San Francisco alleging wire fraud follows claims by the Securities and Exchange Commission that Theranos, Holmes and Balwani lied about the company's technology while raising more than $700 million to build the medical-testing startup.
In June, an incredibly overconfident Holmes was briefly reported as interested in starting another company, despite the SEC settlement preventing her from serving as an officer of a public firm for a decade. If convicted, they each face a maximum sentence of 20 years in prison and a fine of $250,000, plus restitution to those found to have been defrauded, on each count. At one time, Holmes was the youngest self-made female billionaire. This arrangement would allow for all of Theranos' assets, other than its intellectual property, to be assigned to a third party in trust for the company's creditors. As the former CEO Elizabeth Holmes is facing fraud charges, the company has been mired in a myriad of scandals.
Taylor's email appears to herald the final stages of Theranos, which was once one of Silicon Valley's most lauded startups, drawing investments from Oracle (ORCL) founder Larry Ellison and media mogul Rupert Murdoch.
Ms Holmes herself became a business pin-up, wearing a black turtleneck jumper that drew comparisons with Steve Jobs, while profiles regularly pointed out that, like other successful tech entrepreneurs such as Bill Gates and Mark Zuckerberg, she was a college drop-out.
Big name investors had reportedly lost about $1 billion.
In April 2017, the Centers for Medicare and Medicaid Services (CMS) sanctioned Theranos and revoked its clinical laboratory testing certificate, which caused the pharmacy chain Walgreens to terminate its partnership with the start-up and sue Theranos for $140m.
The company did not immediately respond to Ars' request for comment.
Theranos, founded in 2003 by a then 19-year-old, wide-eyed Elizabeth Holmes, the Stanford drop-out who everyone believed could change the world.
FOX Business' Brittany De Lea contributed to this article.