23andMe Holding Co (ME) Company Overview

23andMe said it's started exploring strategic alternatives, including a possible sale. The company released third-quarter results that showed an 8% drop in consumer services revenue year over year.

SUNNYVALE, Calif., Jan. 28, 2025 (GLOBE NEWSWIRE) -- The Special Committee of the Board of Directors of 23andMe Holding Co. (Nasdaq: ME) (“23andMe” or the “Company”), a leading human genetics company with a mission to help people access, understand, and benefit from the human genome, today announced that it has undertaken a process to explore strategic alternatives, including, among other alternatives, a possible sale of the company, business combination, sale of all or part of the Company's assets, licensing of assets, restructuring, or other strategic action.

Company Notes Continued Concerns Regarding Liquidity and Consideration of Potential Ways to Address Operational and Financial Challenges

23andMe has been exploring a possible sale of its telehealth business, Business Insider has learned. The struggling health company bought virtual care startup Lemonaid in 2021 for $400 million.

23andMe is helping collaborators better understand disease biology, identify novel targets, boost clinical trial success, and engage people in their care 23andMe is helping collaborators better understand disease biology, identify novel targets, boost clinical trial success, and engage people in their care

SUNNYVALE, Calif. and SAN DIEGO, Nov. 20, 2024 (GLOBE NEWSWIRE) -- 23andMe Holding Co. (Nasdaq: ME), a leading human genetics and preventive health company, and Mirador Therapeutics, a next-generation precision medicine company focused on developing first-in-class or best-in-class therapeutics for immunology and inflammation (I&I)-related diseases, today announced a strategic research collaboration. Under the agreement, Mirador will leverage a targeted set of aggregated, de-identified genetic and phenotypic data from the 23andMe research database and its proprietary Mirador360™ development engine to enable target validation and precision medicine.

23andMe announced on Monday it would cut 40% of its workforce, representing more than 200 employees, as part of a restructuring at the company. The genetic testing company is also discontinuing its therapeutics business and winding down its clinical trials; it expects these changes to save $35 million annually.

Genetic testing firm 23andMe announced plans to cut 40% of its workforce, or around 200 jobs, as part of a cost-saving effort aimed at stabilising the company. It will also halt work on its therapy development projects, exploring options to license or sell them.

DNA-testing company 23andMe Holding Co. will slash its workforce by about 40% and discontinue its therapeutics program as part of a restructuring effort to cut costs, the company said Monday.