Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ______________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM___________ TO___________ Commission File Number 001-39587 ___________________________________________ ...

Signage at 23andMe headquarters in Sunnyvale, California, U.S., on Wednesday, Jan. 27, 2021.The House Committee on Energy and Commerce is investigating 23andMe's decision to file for Chapter 11 bankruptcy protection and has expressed concern that its sensitive genetic data is "at risk of being compromised," CNBC has learned.Rep. Brett Guthrie, R-Ky., Rep. Gus Bilirakis, R-Fla., and Rep. Gary Palmer, R.-Ala., sent a letter to 23andMe's interim CEO Joe Selsavage on Thursday requesting answers to a series of q ...

The FTC has powers to protect consumers from unfair, deceptive, or fraudulent business practices and investigate suspected violations. The bankruptcy announcement on March 23 prompted warnings for 23andMe customers to ask the company to delete their data to safeguard privacy. This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: The US Federal Trade Commission (FTC) on Monday warned ...

Core Viewpoint - 23andMe has filed for Chapter 11 bankruptcy but intends to continue operations while restructuring its finances and has secured $35 million in financing for this process [3][4]. Company Overview - Founded in 2006, 23andMe has sold over 12 million DNA testing kits and has notable users such as Oprah Winfrey and Warren Buffett [3]. - The company has faced financial difficulties since 2021, including a significant workforce reduction of 40% in 2024 and the resignation of all independent directors [6]. Data Privacy Concerns - The bankruptcy filing has raised concerns about the handling of customer data, particularly genetic information, during the restructuring process [4][7]. - 23andMe's privacy policies indicate that personal information may be accessed, sold, or transferred during bankruptcy proceedings [8]. - A data breach in 2023 exposed personal information of 6.9 million users, although no genetic data was compromised [5]. Legal and Regulatory Context - Genetic information is treated similarly to personal information under privacy laws, with varying protections depending on the jurisdiction [10][11][12]. - In the U.S., there is a lack of a unified legal framework for consumer privacy, complicating the situation for 23andMe customers [12][13]. Future Outlook - 23andMe may successfully emerge from its restructuring, similar to other companies that have filed for Chapter 11 bankruptcy [9]. - The company could potentially expand licensing agreements with pharmaceutical firms to utilize customer data for research purposes [9]. Consumer Guidance - Customers are advised to consider deleting their accounts and withdrawing consent for the use of their data due to uncertainties surrounding the company's future [15][16]. - Legal experts emphasize the need for clearer regulations to protect consumer privacy, especially concerning genetic data [17].

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Credit: Unsplash/CC0 Public Domain The announcement that 23andMe is filing for bankruptcy and has put its genetic genealogy database up for sale has sent its customers into a bit of a privacy tizzy. On March 21, California Attorney General Bob Bonta issued a consumer alert with detailed instructions about how to delete one's dat ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Test kit for genetic testing by the company 23andMe. Credit: Hanno Böck/Wikimedia Commons, CC0 Over the past decade, 23andMe has collected genetic data from millions of people—and now that the company has filed for bankruptcy, that information could be sold to the highest bidder, a Northeastern University data scientist warns. ...

Core Insights - 23andMe cofounder Linda Avey expressed disappointment over the company's decline and criticized former CEO Anne Wojcicki for her leadership decisions, particularly after Avey's departure in 2009 [1][2] - The company filed for Chapter 11 bankruptcy protection and announced Wojcicki's resignation, marking a significant turning point for the biotech firm [1][8] - Avey highlighted the potential of 23andMe to become a leading digital health platform, emphasizing the importance of consumer-focused product development and proper governance [2][4] Company Background - 23andMe was founded nearly twenty years ago, specializing in direct-to-consumer DNA test kits and genetic research [1] - The company has built one of the largest genetic data collections globally, with over 14 million consumers engaged [2] Leadership and Governance Issues - Avey criticized the lack of board governance after her departure, stating that Wojcicki's control led to a decline in the company's strategic direction [2][4] - The independent directors of 23andMe's board resigned in 2024, indicating disagreements on the company's future strategy [7] Financial and Operational Challenges - 23andMe has faced significant operational challenges, including a restructuring that resulted in a 40% staff layoff and the cessation of its therapeutics program [8] - The company is currently seeking a buyer through a court-supervised sale process to address its financial difficulties [10] Data Privacy Concerns - The company has been plagued by privacy issues, including a data breach affecting nearly 7 million users, which led to a $30 million settlement [6] - Consumer concerns over data security have intensified, particularly following Wojcicki's consideration of third-party takeover proposals [8]

Core Points - 23andMe has received court approval for its first day motions related to its voluntary Chapter 11 petitions filed on March 23, 2025, allowing the company to pay employee wages and benefits, compensate vendors, and enter into a $35 million debtor-in-possession financing facility from JMB Capital Partners [1][2] - The company is committed to maintaining its consumer privacy policies and has not altered its management of customer data during the bankruptcy proceedings [2] - The court has authorized 23andMe to initiate a process to sell substantially all of its assets, with bidding procedures approved, requiring potential buyers to comply with the company's consumer privacy policy [3][4] - A 45-day process will follow the petition date for soliciting qualified bids, with any sale involving customer data subject to court approval and regulatory oversight [4] - A second day hearing is scheduled for April 22 to consider additional requested relief, including approval of the DIP facility [5] Company Information - 23andMe is a leading human genetics and biotechnology company focused on consumer healthcare [8]

23andMe co-founder Linda Avey took to social media on Wednesday to express frustration about the fate of the once-thriving genetics testing company that spiraled into Chapter 11 bankruptcy protection this week.Avey helped launch 23andMe in 2006 alongside Paul Cusenza and Anne Wojcicki, who resigned as CEO on Friday. The company went mainstream thanks to its popular at-home DNA testing kits, but struggled in recent years to generate recurring revenue, stand up viable therapeutics and research businesses and ...