Genetic testing company 23andMe files for bankruptcy, CEO resigns, stock price drops 50%

From Yahoo Finance: 2025-03-24 09:02:00

DNA testing company 23andMe files for Chapter 11 bankruptcy protection due to cash shortage, valued at $6 billion. CEO Anne Wojcicki resigns but remains on the board. Company’s revenue declined by 28% in 2024. Largest creditors include Labcorp, Jellyfish, and Blue Shield of California. Stock price down 50% to 90 cents.

Read more: 23andMe files for bankruptcy; CEO Anne Wojcicki resigns