Welcome to our dedicated page for 23andMe Holding Co. news (Ticker: ME), a resource for investors and traders seeking the latest updates and insights on 23andMe Holding Co. stock.
23andMe Holding Co. Class A Common Stock (NASDAQ: ME) is a leading genetics-led consumer healthcare and biopharmaceutical company. Founded in 2006, 23andMe specializes in personal genome services through DNA analysis technologies and interactive web-based tools. The company’s core service allows individuals to gain deep insights into their genetic ancestry, health predispositions, and phenotypic traits.
23andMe's mission is to personalize healthcare by supporting meaningful discoveries through genetic research. The company's primary revenue comes from its Consumer and Research Services segment, which includes the sale of direct-to-consumer personal genome services (PGS). This involves shipping DNA collection kits to users, who can then access detailed reports on their genetic makeup through 23andMe’s platform.
The company also has a Therapeutics segment that focuses on leveraging genetic data to develop new treatments. Notably, 23andMe presented positive Phase 2 safety and efficacy data from their anti-CD200R1 antibody, 23ME-00610, at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting.
Despite its groundbreaking work, 23andMe recently faced a significant data breach, affecting approximately 7 million users. Hackers specifically targeted the genetic information of Jewish and Chinese customers, selling the data on the dark web. This incident has led to a class-action lawsuit and ongoing investigations.
In research, 23andMe has also made significant strides. For example, the company conducted the world's largest study on the LRRK2 G2019S variant linked to Parkinson’s disease, with support from The Michael J. Fox Foundation. Findings from this study revealed new insights into the variant's impact and its prevalence in various populations, including unexpected hotspots in Latin Caribbean communities.
23andMe continues to expand its offerings, providing reports that calculate genetic likelihood for conditions like bipolar disorder, anxiety, and depression for its 23andMe+ Premium members. These reports are based on polygenic risk scores (PRS) developed through the company’s extensive research database.
With a strong commitment to advancing personalized healthcare and continuous innovation in genetic research, 23andMe remains a significant player in the biotechnology and consumer healthcare sectors.
23andMe Holding Co. (Nasdaq: ME) has introduced a new African American Genetic Groups feature that allows African American customers to trace their roots to over 200 communities in the Southern United States. This feature provides insights into ancestral connections from before the early-to-mid-20th century migrations, including communities like the Piney Woods region in Mississippi, the creoles of the River Parishes and Greater New Orleans, and the Gullah Geechee of South Carolina and Georgia.
The feature offers information on shared ancestral locations, common maternal and paternal haplogroups, and additional details to help trace connections. Approximately 88% of 23andMe customers who self-identify as African American will see connections to at least one of these newly identified groups, rising to 95% for 23andMe+ Premium™ customers. This initiative is part of 23andMe's broader effort to improve representation in its product and research.
23andMe Holding Co. (Nasdaq: ME) has announced a collaboration with Mathew Knowles, father of Beyoncé and Solange Knowles, as a new global brand ambassador. The partnership aims to increase awareness and accessibility of genetic testing, particularly focusing on BRCA variants that can significantly increase the risk of certain cancers.
Knowles, a breast cancer survivor, discovered he had a BRCA2 gene variant after his diagnosis. Now cancer-free, he advocates for genetic testing as a first line of defense in healthcare. The collaboration will educate the public on how genetic makeup can impact cancer risks, emphasizing that over 80% of individuals with BRCA1/2 variants are unaware of their status.
23andMe offers a BRCA1/BRCA2 Genetic Health Risk report through its Health + Ancestry and 23andMe+ Premium services, and a more comprehensive screening through its new Total Health platform.
23andMe (Nasdaq: ME) has launched a new genetic report for 23andMe+ Premium members on the likelihood of frequent emotional eating. The report is based on a polygenic risk score (PRS) developed using 23andMe's proprietary research database. It considers genetic markers, ancestry, and birth sex to estimate an individual's predisposition to emotional eating.
According to published data, genetics may account for 9-60% of the predisposition to emotional eating. The report aims to help individuals identify strategies to manage emotional eating, which can lead to health issues like weight gain, high cholesterol, and diabetes. Dr. Noura Abul-Husn, VP of Genomic Health at 23andMe, emphasized the importance of early identification and management of emotional eating tendencies.
Barrack, Rodos & Bacine is investigating 23andMe Holding Co. (NASDAQ:ME) following the mass resignation of all independent board members. This comes after CEO Anne Wojcicki, who owns 49% of the company's shares, offered to acquire the remaining shares for $0.40 per share to take the company private. On July 29, 2024, Wojcicki presented this non-binding offer, which was rejected by a Special Committee two days later as "insufficient and not in the best interest of the non-affiliated shareholders."
On September 17, all independent directors resigned, citing lack of progress and fundamental disagreements regarding the company's strategic direction. Barrack, Rodos & Bacine is encouraging current 23andMe stockholders to contact them regarding potential legal options.
The independent directors of 23andMe Holding Co. (Nasdaq: ME) have resigned from the Board, effective immediately. In a letter to CEO Anne Wojcicki, they cited the lack of a fully financed, fully diligenced, actionable proposal that benefits non-affiliated shareholders, despite months of work. The directors expressed their unwillingness to consider further extensions and noted differences in strategic direction for the company.
The resignation comes after 5 months of no notable progress on such a proposal. The directors acknowledged Wojcicki's concentrated voting power and decided to resign to avoid a protracted and distracting difference of view. They expressed continued support for the company's mission and belief in its personalized health and wellness offering, while also recognizing their pride in 23andMe's achievements in pioneering direct access to genetic information.
23andMe (Nasdaq: ME) announced positive nonclinical data for its first-in-class antibody 23ME-01473 at the ESMO Congress 2024. The antibody, targeting the NKG2D ligand ULBP6, showed inhibition of tumor growth in a non-small cell lung cancer mouse model. Elevated levels of ULBP6 were confirmed in squamous cell carcinomas and some adenocarcinomas, guiding potential clinical indications. The ongoing Phase 1/2a trial, which began in March 2024, has prioritized four expansion cohort cancer types: head and neck squamous cell carcinoma, squamous non-small cell lung cancer, colorectal cancer, and triple-negative breast cancer. This data supports the potential of human genetics in identifying new targets for immuno-oncology drug development.
23andMe (Nasdaq: ME) announced positive preliminary Phase 2 safety and efficacy data for 23ME-00610, a first-in-class anti-CD200R1 antibody, at the ESMO Congress 2024. Key findings include:
1. A confirmed partial response in a patient with refractory clear-cell renal-cell carcinoma (ccRCC).
2. Acceptable safety and tolerability profile.
3. Higher tumor expression of CD200 may be associated with clinical benefit.
4. Potential effectiveness in 'cold' tumors, suggesting opportunity for patients unable to benefit from PD-1/PD-L1 checkpoint inhibitors.
The study included 10 ccRCC patients and 13 patients with TMB-H or MSI-H cancers. The data suggests that interrupting the CD200/CD200R1 pathway has potential to reverse immune suppression in the tumor microenvironment.
23andMe, in collaboration with the National Human Genome Research Institute and Johns Hopkins University, conducted one of the largest and most diverse studies on sickle cell trait (SCT) and its association with venous thromboembolism (VTE). The study, published in Blood Advances, analyzed data from 4.2 million research-consented participants, including 19,000 with SCT.
Key findings include:
- SCT is a modest risk factor for blood clots across diverse populations
- Individuals with SCT have a lower risk of VTE compared to carriers of factor V Leiden
- SCT is associated with pulmonary emboli (PE) but not deep vein thrombosis (DVT)
- The study suggests a unique mechanism of blood clotting in people with SCT
This research provides valuable information for clinicians counseling individuals with SCT and highlights the importance of inclusive genetic research.
23andMe (Nasdaq: ME) will present updates on its clinical immuno-oncology programs at the ESMO Congress 2024 in Barcelona. The company will showcase three posters on 23ME-00610, a first-in-class anti-CD200R1 antibody, and two on 23ME-01473, an anti-ULBP6 monoclonal antibody.
Key highlights include:
- Preliminary efficacy data for 23ME-00610 in renal cancer and TMB-H/MSI-H cohorts
- Analysis of CD200 as a potential biomarker for 23ME-00610 efficacy
- Preclinical data on 23ME-01473 and its ongoing Phase 1/2a dose escalation study
Both drug candidates were discovered using 23andMe's proprietary database of human genetic and health information, leveraging data from over 15 million genotyped customers.
Lemonaid Health, a subsidiary of 23andMe (Nasdaq: ME), is now offering GLP-1 medications including Ozempic®, Wegovy®, and compounded semaglutide through a weight loss program on its telehealth platform. The program provides a $49 monthly membership with access to clinician consultations, prescriptions, and ongoing support. Medication costs start at $299 per month for compounded semaglutide.
Concurrently, 23andMe launched a study to investigate the genetic factors influencing GLP-1 effectiveness and side effects. The company aims to uncover insights for personalized weight loss treatments and preventive health strategies. GLP-1 medications have shown potential benefits beyond weight loss, including treatment of type 2 diabetes, heart disease, and possibly Parkinson's, arthritis, Alzheimer's, and sleep apnea.
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