BUZZ-23andMe slumps after filing for bankruptcy protection

Reuters

2025/03/24

** 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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xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-23andMe slumps after filing for bankruptcy protection</title></head><body><p>** Shares of genetic testing firm 23andMe <span>ME.O</span> fall 42.5% to $1.03 premarket</p><p>** On Sunday, ME filed for <span>Chapter 11 bankruptcy</span> protection to facilitate the sale of co</p><p>** Co's CEO, Anne Wojcicki, has resigned after her attempts to buy out the company were rejected multiple times</p><p>** Wojcicki plans to make another bid to buy the co during the bankruptcy process</p><p>** Co has secured $35 mln in financing to continue operating during the sale process</p><p>** Co's latest valuation is $50 mln, which is much lower than its $3.5 bln market value when it went public in 2021</p><p>** Stock fell 79.5% in the last 12 months</p><p> (Reporting by Kamal Choudhury in Bengaluru)</p><p> 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