Reduces workforce by roughly 40%; expects annualized cost savings of more than $35 million Discontinues development of therapeutics division and commences strategic alternatives process for all in-house therapeutic programs SUNNYVALE, Calif., Nov. 11, 2024 (GLOBE NEWSWIRE) -- 23andMe Holding Co. (Nasdaq: ME) (the “Company” or “23andMe”), a leading human genetics and preventive health company, today announced a business restructuring to streamline operations and reduce costs. In addition, 23andMe is disconti ...

SUNNYVALE, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- An earlier release under the same headline should have noted 23andMe Holding Co. (Nasdaq: ME) (23andMe) will report financial results for the second quarter of fiscal year 2025 (FY2025) prior to the market opening on Tuesday, November 12, 2024 (the prior release incorrectly stated the results would be reported after the market closes). The Company will webcast a conference call at 8:00 a.m. Eastern Time on that date to discuss the quarter’s results and re ...

SUNNYVALE, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- 23andMe Holding Co. (Nasdaq: ME) (23andMe), a leading human genetics and biopharmaceutical company, announced today that it will report financial results for the second quarter of fiscal year 2025 (FY2025) after the market closes on Tuesday, November 12, 2024. The Company will webcast a conference call at 4:30 p.m. Eastern Time on that date to discuss the quarter’s results and report on business progress. The webcast can be accessed on the day of the even ...

23andMe said it appointed three new independent directors to its board on Monday. All seven of 23andMe's previous directors resigned in September over its "strategic direction." 23andMe is navigating obstacles that have concerned consumers. Insider Today NSIDER TODAY Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personali ...

Board Changes - 23andMe appointed three new independent directors to its board: Andre Fernandez, Jim Frankola, and Mark Jensen [1][2] - The new directors will serve on the board's audit committee and compensation committee, with Jensen as the lead independent director and chair of the compensation committee, and Fernandez as the chair of the audit committee [3] - The only other board member is 23andMe's co-founder and CEO Anne Wojcicki [2] Previous Board Resignations - All seven of the company's previous independent directors resigned abruptly in September, citing disagreements with Wojcicki over the "strategic direction for the company" [4][6] - The previous directors formed a special committee in late March to explore potential paths forward for the company [5] - Wojcicki submitted a proposal to take the company private in July, but it was rejected by the special committee due to lack of committed financing and no premium to the closing price of 40 cents per share at the time [5] - The directors gave Wojcicki the opportunity to submit a revised proposal, but did not receive one [6] Company Performance - 23andMe, once valued at $6 billion, has struggled since going public in 2021 through a SPAC [4] - Shares were hovering below $1 until the company announced a 1-for-20 reverse stock split earlier this month [4] - The company's stock was trading around $5 on Tuesday morning [5] CEO's Commitment - Wojcicki has repeatedly said she remains committed to taking the company private in the weeks following the board members' departures [7]

SUNNYVALE, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) -- 23andMe Holding Co. (Nasdaq: ME) (the “Company” or “23andMe”), a leading human genetics and preventive health company, today announced the appointments of Andre Fernandez, Jim Frankola, and Mark Jensen, three accomplished and experienced executives, as independent members of the Company’s Board of Directors (the “Board”), effective on October 28, 2024. Each of Mr. Fernandez, Mr. Frankola, and Mr. Jensen have been appointed to serve as members of the Board ...

Once worth $6 billion, 23andMe has lost 98% of its value and is on the verge of being delisted from the Nasdaq after all of its independent board members resigned in September. So what happened?Founded in 2006, 23andMe set out to revolutionize the once very exclusive genetic testing business with a direct-to-consumer model. Thanks to capital from high-profile backers and celebrity endorsements, the company was able to market its test kits at affordable prices.  Unlike competitors like Ancestry.com, 23andMe ...

SUNNYVALE, Calif., Oct. 16, 2024 (GLOBE NEWSWIRE) -- 23andMe Holding Co. (Nasdaq: ME) (the "Company" or "23andMe"), announced today the completion of the previously announced 1-for-20 reverse stock split of the Company's Class A and Class B common stock and confirmed that such reverse stock split became effective as of 12:01 a.m. EST on October 16, 2024 (the "Effective Time"). The Company effected the reverse stock split by filing an amendment to the Company's Certificate of Incorporation with the Secretary ...

SUNNYVALE, Calif., Oct. 11, 2024 (GLOBE NEWSWIRE) -- 23andMe Holding Co. (Nasdaq: ME) (the "Company" or "23andMe"), announced today that the 1-for-20 reverse stock split of the Company's Class A and Class B common stock will become effective as of 12:01 a.m. EST on October 16, 2024 (the "Effective Time"). As previously disclosed, at the Company's 2024 Annual Meeting of Stockholders, the Company's stockholders voted to approve an amendment to the Company's Certificate of Incorporation (the "Charter Amendment ...

NEW YORK, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into 23andMe Holding Co. (NASDAQ:ME) regarding whether the board of directors and the co-founder and current CEO Anne Wojcicki ("Wojcicki") of 23andMe breached their fiduciary duties in connection with Wojcicki's ongoing effort to purchase all 23andMe shares she does not already own. If you are a holder of 23andMe, you are encouraged to submit your information at: https://www.bfalaw. ...