23andMe Destroyed by Hackers and Losses Deagreez / iStock via Getty Images 23andMe Holding Co.’s (NASDAQ: ME) plans have come under attack by investors and the media after 23andMe stock collapsed in the past year. A major hack of its database and a tremendous loss have helped these attacks and cemented talk about its survival.The Wall Street Journal recently reported that 23andMe once had a market cap of $6 billion. That has dropped to $350 million. The paper points out that the company has tried using DN ...

23ME-01473 (‘1473) seeks to treat cancer by restoring anti-tumor immunity through NK and T cells‘1473 has dual mechanisms of blocking the immunosuppressive effects of soluble ULBP6, and inducing Fc receptor-mediated killing of ULBP6-expressing cancer cells through enhanced effector functionPhase 1 clinical study in patients with solid tumors to commence in H1 2024The target for ‘1473 was discovered through 23andMe's proprietary research platform, the world's largest recontactable database of de-identified h ...

SUNNYVALE, Calif., Jan. 30, 2024 (GLOBE NEWSWIRE) -- 23andMe Holding Co. (NASDAQ:ME) (23andMe), a leading genetic health and biopharmaceutical company, announced a month-long initiative to amplify Ava DuVernay's new film ORIGIN and the film's groundbreaking Seat16 program. Seat16 allows anyone to gift $16 or more to purchase an ORIGIN movie ticket for a young person who might not otherwise be able to purchase a ticket to the film. For 23 days, 23andMe will donate 100 seats daily to support the program. ARRA ...

In a data breach notification letter filed with regulators this weekend, 23andMe revealed that hackers started breaking into customers’ accounts in April 2023 and continued through most of September.In other words, for around five months, 23andMe did not detect a series of cyberattacks where hackers were trying — and often succeeding — in brute-forcing access to customers’ accounts, according to a legally required filing 23andMe sent to California’s attorney general.Months after the hackers started targetin ...

Genetic testing company 23andMe is facing a class action lawsuit after users’ data was accessed without authorization – a breach it blames on customers who used a recycled password as login credentials for their account on the home DNA firm’s website. 23andMe wrote in a letter responding to attorneys representing customers whose data was exposed that no breach occurred under the provisions of the California Privacy Rights Act because users targeted in the initial breach were using login credentials that had ...

Ian Cooney - Senior Director, IR 23andMe Holding Co. (NASDAQ:ME) Q2 2024 Earnings Conference Call November 8, 2023 4:30 PM ET Anne Wojcicki - Chief Executive Officer and Co-Founder Jennifer Low - Head of Therapeutics Conference Call Participants David Lebowitz - Citigroup Inc. Hello, and welcome to 23andMe's Fiscal Year 2024 Second Quarter Financial Results Conference Call. As a reminder, this call is being recorded. [Operator Instructions] Ian Cooney Joining us on our call today are Anne Wojcicki, our Chie ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 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 Delaware 87-1240344 (State or other jurisdiction of incorporation or organization) (I.R.S ...

I would now like to turn the call over to Katie Watson, Vice President of Communications at 23andMe to lead off the call. Thank you. Please go ahead. Katie Watson Thank you. Before we begin, I encourage everyone to go to investors.23andme.com to find the press release we issued earlier today reporting our financial results for the first quarter. A replay of today's webcast will also be available on our website for a limited time within 24 hours after the event. Please note that certain statements made durin ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 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 23ANDME HOLDING CO. (Exact name of Registrant as specified in its Charter) Delaware 87-1240344 (State or other j ...

Financial Data and Key Metrics - Revenue for the 3 months ended March 31, 2023, was $92 million, a decrease of 8% year-over-year, while the 12-month revenue was $299 million, an increase of 10% year-over-year [45] - Consumer services revenue accounted for 88% and 83% of total revenue for the 3 and 12 months ended March 31, 2023, respectively, while research services revenue, primarily from the GSK collaboration, accounted for 12% and 17% respectively [47] - Net loss for the 3 and 12 months ended March 31, 2023, was $64 million and $312 million, respectively, compared to $70 million and $217 million in the prior year [50] - Adjusted EBITDA deficit for the 3 and 12 months ended March 31, 2023, was $39 million and $161 million, respectively, compared to $30 million and $151 million in the prior year [51] - The company ended the quarter with $387 million in cash and cash equivalents, down from $553 million as of March 31, 2022 [60] Business Line Data and Key Metrics - The consumer business saw a 10% year-over-year revenue growth in fiscal year 2023, driven by higher average selling prices on PGS kits and a 51% year-over-year growth in 23andMe+ subscription members, now totaling over 640,000 members [13][38] - The therapeutics business presented Phase 1/2a clinical data for 23ME-00610, an antibody targeting CD200R1, showing acceptable safety and tolerability profiles, with ongoing Phase 2a trials in multiple cancer types [24][25][26] - The company continues to integrate Lemonaid telehealth and pharmacy services with its genetic services, focusing on personalized healthcare and mental health services [21] Market Data and Key Metrics - The company has over 14 million genotype customers, an 11% year-over-year growth, creating the world's largest crowdsourced platform of genetic information paired with billions of phenotypic data points [36] - The Novartis collaboration aims to raise awareness for Lipoprotein(a), a genetic risk factor for cardiovascular disease, leveraging 23andMe's customer base and Lemonaid's telehealth capabilities [39][73] Company Strategy and Industry Competition - The company is prioritizing margin expansion and cash burn minimization over top-line growth in its consumer business, while continuing to invest in therapeutic assets [52][61] - The integration of Lemonaid services into the 23andMe app is planned, aiming to create a holistic experience for customers, combining genetic insights with telehealth and pharmacy services [95][105] - The company is actively seeking new partnerships and collaborations, particularly after the GSK target discovery exclusivity period ends in July 2023 [40][65] Management Commentary on Operating Environment and Future Outlook - Management highlighted the potential of combining genomics with telemedicine and pharmacy services to recruit new customers and engage existing ones, emphasizing the importance of mental health services [5][21] - The company expects to continue improving its adjusted EBITDA deficit in fiscal year 2024, driven by margin and operating expense discipline, with a projected adjusted EBITDA deficit of $170 million to $195 million [11][79] - The company is optimistic about leveraging AI to enhance its drug discovery and development processes, as well as automating business functions at scale [99][109] Other Important Information - The company increased subscription prices for 23andMe+ members, reflecting the additional benefits provided, and continues to focus on delivering premium insights and features [18][19] - The company is evaluating the use of its capital for both consumer and therapeutics businesses, including responsibly opting in and out of therapeutic programs based on market conditions [60][97] Q&A Session Summary Question: What is the expected burn rate for therapeutic spend in fiscal 2024, and when will the consumer business be EBITDA positive? - The therapeutic adjusted EBITDA deficit is approximately $23 million per quarter, with potential increases as drug development progresses [68] - The company does not have a specific date for when the consumer business will be EBITDA positive but is making meaningful progress toward that goal [85] Question: How will the Novartis collaboration on Lipoprotein(a) be monetized? - The collaboration leverages 23andMe's ability to educate and engage customers, with potential for follow-up testing and services through Lemonaid [73][88] Question: What is the plan for integrating Lemonaid services into the 23andMe app? - The company plans to integrate Lemonaid services into the 23andMe app, creating a holistic experience for customers that combines genetic insights, telehealth, and pharmacy services [95][105] Question: What is the long-run business outlook for 23andMe, and what are the plans to become profitable? - The company aims to continue improving margins and moving toward cash flow positive in the consumer business, while investing in therapeutic assets [108] Question: How is 23andMe planning to implement AI into its practices? - The company is leveraging AI in various areas, including drug discovery, automation, and enhancing customer engagement, with a focus on integrating AI into its personalized health offerings [99][109] Question: Will the company require a dilutive capital raise in the future? - The company is evaluating its capital needs and will be opportunistic in fundraising, with a focus on allocating capital to the best ROI for shareholders [101]