** Shares of genetic testing firm 23andMe ME.O fall 42.5% to $1.03 premarket
** On Sunday, ME filed for Chapter 11 bankruptcy protection to facilitate the sale of co
** Co's CEO, Anne Wojcicki, has resigned after her attempts to buy out the company were rejected multiple times
** Wojcicki plans to make another bid to buy the co during the bankruptcy process
** Co has secured $35 mln in financing to continue operating during the sale process
** Co's latest valuation is $50 mln, which is much lower than its $3.5 bln market value when it went public in 2021
** Stock fell 79.5% in the last 12 months
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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