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23andMe Holding Co. reported developments tied to its human genetics, consumer health, and research businesses, including new 23andMe+ Premium genetic reports, lab-test offerings, and Discover23 research access for biopharma collaborators. Company updates also covered its proprietary genetic and health-information database, consented research participation, and privacy policies governing customer data.
Recent corporate news focused on liquidity, discontinued therapeutics operations, strategic alternatives, board and leadership changes, and Chapter 11 proceedings involving a court-supervised asset sale process. These updates frame the company’s transition from an operating consumer genetics business into a restructuring and corporate-status story.
23andMe Holding Co. (Nasdaq: ME) presented a trials-in-progress poster at the SITC 37th Annual Meeting detailing the expansion phase of its Phase 1 study for 23ME-00610, an investigational antibody targeting CD200R1 in advanced solid malignancies. Targeted tumor types include clear cell renal cell carcinoma, epithelial ovarian carcinoma, and neuroendocrine cancers, among others. The study aims to evaluate the monotherapy activity of 23ME-00610 across various cohorts. The poster emphasizes the genetic basis for selecting these tumor types and the potential benefits of targeting CD200R1 to enhance immune response against cancer.
23andMe Holding Co. (Nasdaq: ME) received FDA 510(k) clearance for its pharmacogenetics report related to the SLCO1B1 gene, allowing the company to provide interpretive drug information for simvastatin. This approval enables the removal of the confirmatory testing requirement, offering consumers critical insights into their genetic responses to the medication. Simvastatin is extensively prescribed in the U.S., where its usage impacts many patients. The accuracy of the report is verified by a 99% concordance rate with Sanger sequencing, enhancing patient care through personalized healthcare information.
23andMe Holding Co. (Nasdaq: ME) announced it will report its FY2023 second quarter financial results on November 7, 2022, 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 in advance via the Say Technologies platform. The earnings call will be accessible live and a replay will be available shortly after.
The company emphasizes its commitment to providing insights into its performance and future strategies.
23andMe Holding Co. (Nasdaq: ME) announced participation in key investor presentations at several upcoming conferences. The events include the Credit Suisse Healthcare Conference on November 9, 2022, the Evercore ISI HEALTHCONx Conference on November 29, 2022, and the Piper Sandler Healthcare Conference on November 30, 2022. Live webcasts of these presentations can be accessed via the Company's investor website. A replay will also be available shortly after each event. 23andMe continues to focus on its mission of advancing human genetics and healthcare.
23andMe Holding Co. (Nasdaq: ME) announced a poster presentation for its ongoing Phase 1 study of 23ME-00610, an investigational antibody targeting CD200R1, at the Society for Immunotherapy of Cancer’s 37th Annual Meeting from November 8–12, 2022. The presentation will detail the study design, focusing on safety, tolerability, and preliminary efficacy in patients with advanced solid malignancies. The therapy aims to restore immune functions to combat cancer by blocking the immunological checkpoint CD200R1.
23andMe Holding Co. has appointed Daniel Chu as Chief Product Officer, effective immediately. Chu brings over 20 years of experience from companies like Waymo and Google, where he led significant product development initiatives. CEO Anne Wojcicki expressed excitement about Chu's expertise in navigating complex industries, particularly as the company aims to enhance its genomic health platform. Chu holds multiple degrees from Stanford and Harvard, and he aims to use data to transform healthcare for personalized experiences.
23andMe Holding Co. (Nasdaq: ME) reported a 9% increase in first-quarter revenue, totaling $64.5 million, compared to $59 million in the prior year. Consumer revenue surged 17% year-over-year, driven by telehealth services. Operating expenses rose to $115 million, resulting in a net loss of $90 million, up from $42 million the previous year. The company reaffirmed its FY2023 guidance, projecting full-year revenue between $260 million and $280 million and a net loss of $350 million to $370 million.
23andMe Holding Co. (Nasdaq: ME) will release its FY2023 Q1 financial results on August 8, 2022, after market close. A conference call will be held at 4:30 p.m. ET to discuss these results and business progress. Retail and institutional shareholders can submit questions for management via the Say Technologies platform before the call. The link to access the live webcast and replay will be available on their investor relations website. This event marks an important opportunity for stakeholders to assess the company's performance and strategic direction.
23andMe Holding Co. (Nasdaq: ME) reported FY2022 financial results, achieving revenue of $272 million, an 11% increase year-over-year, and a net loss of $217 million. Q4 revenue reached $101 million, marking a 14% increase. The company expanded its customer base to 12.8 million and launched new genetic health consultations. FY2023 guidance anticipates revenue between $260 million and $280 million and a wider net loss of $350 million to $370 million. The firm focuses on minimizing cash burn while developing new genomic health services.
23andMe Holding Co. (Nasdaq: ME) will report its fiscal year 2022 fourth quarter and full year financial results on May 26, 2022, after market close. A conference call to discuss the results will follow at 4:30 p.m. ET. Investors can access the webcast here. Additionally, shareholders can submit questions using the Say Technologies platform starting May 19, 2022, until 24 hours before the call.