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.
News for 23andMe Holding Co. (Nasdaq: ME), now renamed Chrome Holding Co. in SEC filings, centers on its evolution as a genetics-led consumer healthcare, biotechnology, and research company and on significant corporate restructuring events. Press releases describe 23andMe as a human genetics company with a mission to help people access, understand, and benefit from the human genome, and as a genetics-led consumer healthcare and research or biopharmaceutical company empowering a healthier future.
Visitors to this news feed can review updates on Chapter 11 proceedings, including the company’s voluntary filing in the U.S. Bankruptcy Court for the Eastern District of Missouri, court approvals of first-day motions, and the launch of a court-supervised sale process. Releases detail the company’s efforts to obtain debtor-in-possession financing, sell substantially all of its assets, and address operational, financial, and legal challenges, as well as subsequent SEC reports on the approved and completed sale of assets to 23andMe Research Institute.
The news stream also covers strategic and operational developments such as the exploration of strategic alternatives, workforce reductions, discontinuation of the Therapeutics operating segment, and restructuring initiatives aimed at cost reductions. Financial results announcements provide context on revenue trends, changes in operating expenses, and management’s previously stated concerns about liquidity and ability to continue as a going concern before the Chapter 11 filing.
In addition, 23andMe’s news highlights product and research updates, including new genetic reports for 23andMe+ Premium members on topics such as osteoporosis and homocysteine (MTHFR-related) levels, the launch of Discover23 for biopharma collaborators, and collaborations with partners like Mirador Therapeutics. Telehealth and preventive health initiatives, such as GLP-1 weight loss offerings on the Lemonaid Health platform and a comprehensive longevity service, also appear in company communications.
For investors and observers following ME-related developments, this page aggregates company-issued news on genetics products, research collaborations, telehealth services, financial performance, governance changes, and the ongoing Chapter 11 restructuring and asset sale process.
23andMe Holding Co. (NASDAQ: ME) has published its first environmental, social, and governance (ESG) report, highlighting its commitment to ethical management, diversity, and sustainability. The report outlines core initiatives, including corporate governance practices, a focus on diversity, equity, and inclusion, and efforts to enhance product inclusivity. Key recognitions include being listed as one of the Best Places to Work by BioSpace and Comparably. The company also emphasizes environmental management, with its California headquarters featuring LEED® Platinum certification. The full report is accessible online.
23andMe has announced a collaboration with Novartis in conjunction with Lipoprotein(a) Awareness Day, aimed at educating customers about the health risks associated with high levels of Lipoprotein(a) (Lp(a)). This genetic factor significantly increases the risk of heart disease, with high Lp(a) levels affecting one in five individuals, yet only 1% of U.S. adults have been tested. The pilot program will offer confidential Lp(a) screening tests and access to clinicians via 23andMe's telehealth service. The collaboration reflects 23andMe's commitment to proactive health management through education and testing.
23andMe Holding Co. (Nasdaq: ME) has announced the presentation of clinical data from the Phase 1 portion of the 23ME-00610 study at the AACR Annual Meeting on April 18, 2023. This study investigates 23ME-00610, an investigational antibody targeting CD200R1 for treating advanced solid tumors. Key data will focus on safety, tolerability, and pharmacokinetics. The study aims to understand the antibody's potential to restore immune function against tumors. A successful presentation could impact investor sentiment positively as the company transitions into Phase 2a for assessing anti-cancer efficacy in specific tumor types.
23andMe Holding Co. (Nasdaq: ME) has initiated the Phase 2a portion of its study on 23ME-00610, an investigational antibody targeting CD200R1 for patients with advanced solid tumors. This phase will evaluate the anti-cancer activity and safety profile across various tumor types, including renal cell carcinoma and small cell lung cancer. The study aims to improve treatment options for cancers inadequately addressed by current therapies. With over 13.4 million genotyped customers, 23andMe leverages extensive genetic data to identify promising targets like CD200R1. The company plans to present updates on the study's progress at an upcoming scientific conference.
23andMe Holding Co. (Nasdaq: ME), a leader in human genetics and biopharmaceuticals, announced participation in two upcoming investor conferences. The first is the Citi Healthcare Services, Medtech, Tools & HCIT Conference on March 1, 2023, at 9:30 a.m. ET in New York City. The second is the Cowen Health Care Conference on March 8, 2023, at 11:10 a.m. ET in Boston. Interested investors can access a live webcast of these presentations on the company’s investor website, with replays available shortly after each event. 23andMe aims to enhance understanding of the human genome through its genetic research.
23andMe Holding Co. (Nasdaq: ME) reported Q3 FY2023 revenue of $67 million, an 18% increase year-over-year. Consumer revenue grew 17% driven by telehealth services and subscriptions. The company raised its FY2023 revenue guidance to $290-$300 million. Operating expenses rose to $128 million, leading to a net loss of $92 million, compared to $89 million the previous year. Cash reserves decreased to $433 million. 23andMe continues to innovate in genetic health services, with new FDA clearance for pharmacogenetic testing and two new health reports for subscribers.
23andMe Holding Co. (Nasdaq: ME) announced it will release its financial results for the third quarter of fiscal year 2023 on February 8, 2023, after market close. A conference call will follow at 4:30 p.m. Eastern Time to discuss these results and business progress. Shareholders can submit questions via the Say Technologies platform before the call. The event will be accessible as a live webcast and available for replay afterward. The company emphasizes its commitment to helping individuals understand and benefit from the human genome, focusing on consumer genetics and therapeutic solutions.
23andMe Holding Co. (Nasdaq: ME) reported Q2 FY2023 revenue of $76 million, a 37% increase year-over-year. Consumer revenue grew 27%, driven by new telehealth services. The company maintains a strong balance sheet with $411 million in cash after a $50 million payment from GSK. Operating expenses rose to $106 million due to labor and sales costs. Net loss for Q2 was $66 million, up from $17 million last year. Full-year guidance is reaffirmed, projecting revenue between $260-$280 million and a net loss of $350-$370 million, including impacts from inflation.
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