| Maybe SmileDirectClub investors are still smiling on the inside. The company, which sells removable transparent dental aligners cheered by many braces-averse consumers but widely criticized by the orthodontic establishment, saw its shares drop by 20% on Wednesday after it turned in an earnings report that left investors with a lot to chew on. SmileDirect shares debuted this year to much fanfare, but they have swerved along a crooked path from the start. On its first day of trading in September, SmileDirect sank 28%, and since then, the company has seen its market capitalization shrink more than 60% as of Wednesday's close. Life hasn't been easy for several recent prominent IPOs, but SmileDirect's struggles stand out. While sales in the period easily cleared what Wall Street was expecting, surging by more than 50% from the same period a year ago, SmileDirect warned that the fourth quarter might not be as bright. Some analysts said that guidance was attributable to conservatism on the company's part. And most still see the stock as one investors should own. One reason to think better days could be ahead is SmileDirect and other companies have likely changed how consumers think about getting their teeth straightened for good. That may irk orthodontists. But for investors, it could continue to be a big opportunity.—Tim Annett Here's what else we're watching: Dice roll. Can a Las Vegas-influenced business model get people to take their meds? That's the thinking behind a new employee-health firm started by former casino and health-care executive Gary Loveman. Drugstore drama. Private-equity giant KKR approached Walgreens about a possible takeover that would be the biggest leveraged buyout of all time. It's still unclear that a deal will come to fruition, however. Migraine showdown. Biohaven is racing Allergan to market in a battle over a new class of migraine drugs. Some research looks more favorable for Biohaven's treatment, though it's likely to be slightly later to market. Juul retool. Vape giant Juul Labs is cutting jobs as part of a plan to shave $1 billion in costs as the industry braces for tougher e-cigarette rules. Also this week, the FDA's tobacco chief got grilled at a Senate vaping hearing. Listen up. Want to hear more from Prognosis? Then listen to our podcast, which has explored superbugs, what we share when we share our medical data online, and more. Download it here on Apple devices, and here on Android.  Got this newsletter forwarded to you? Sign up to get it every Thursday by clicking here.
We want to hear from you. If you have feedback, questions or potential story ideas, reach out to me at tannett@bloomberg.net | 
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