23andMe, once valued at $265 per share in late 2021, faces bankruptcy as its growth stagnated following the one-time nature of DNA testing for consumers. CEO Anne Wojcicki, who is resigning from her role, remains the board chair with intentions to hold onto the company’s valuable genetic database housing information from 15 million individuals. Moves to pivot the firm from individual testing to serving drug firms with its data led to significant staff reductions and controversy over her leadership. Investors will likely see no return, and legal challenges loom for Wojcicki as the company restructures.
"I remain committed to our long-term vision of being a global leader in genetics and establishing genetics as a fundamental part of healthcare ecosystems worldwide."
Collection
[
|
...
]