23Andme Holding Co Stock Price, News & Analysis

SUNNYVALE, Calif., Feb. 25, 2022 - 23andMe Holding Co. (Nasdaq: ME) announced its participation in the Cowen 42nd Annual Health Care Conference on March 7, 2022, at 2:50 PM ET. Interested parties can access the presentation via a webcast on the company's investor relations page. 23andMe is known for its consumer genetics services and has established a significant research platform that has led to over 180 scientific publications. The company continues to innovate in genetic health risk reporting and therapeutics development, underlining its mission to enhance public understanding of genetics.

23andMe Holding Co. (Nasdaq: ME), a leader in consumer genetics, is set to present at the Citi 2022 Virtual Healthcare Conference on February 24, 2022, at 1:15 PM Eastern Time. This presentation will focus on the company's advancements in genetics and therapeutics. Interested parties can access the webcast via the investors section of 23andMe's website.

Founded in 2006, 23andMe has achieved multiple FDA authorizations in genetic health risk reports and boasts a significant research platform contributing to understanding various diseases.

23andMe reported Q3 FY2022 revenue of $57 million, a 3% increase year-over-year. The growth is attributed to the acquisition of Lemonaid Health and higher subscription revenue. Operating expenses surged to $124 million, leading to a net loss of $89 million, compared to $45 million in the same quarter last year. The company initiated clinical trials for its first wholly-owned immuno-oncology antibody, 23ME’610, and expanded its customer base to 12.2 million. Updated guidance projects full-year revenue between $268 million and $278 million.

23andMe Holding Co. (Nasdaq: ME) will announce its financial results for the third quarter of FY2022 on February 10, 2022, after market close. A conference call is scheduled for 4:30 p.m. ET to discuss these results and business developments. Shareholders can submit questions for management via the Say Technologies platform prior to the earnings call. The company aims to expand access to genetic information and has made significant contributions to genetic research with a platform that has generated over 180 publications. Detailed information will also be available on their investor website.

23andMe Holding Co. (Nasdaq: ME) announced the extension of its collaboration with GlaxoSmithKline (GSK) for an additional year, enabling further exclusive target discovery until July 2023. GSK will pay 23andMe $50 million for this extension. Moreover, 23andMe has chosen a royalty option for their joint CD96 immuno-oncology program, which is currently in Phase 1 trials. This collaboration has so far yielded over 40 therapeutic programs, enhancing both companies' pipelines and reinforcing their commitment to human genetics in drug discovery.

MedAvail Holdings, Inc. (NASDAQ: MDVL) has appointed Mark Doerr as CEO, succeeding Ed Kilroy, effective January 10, 2022. The leadership change comes with a restructuring of the board, including new directors Laurie McGraw and Paul Johnson. Preliminary revenue results for Q4 and full year 2021 indicate significant growth, with Q4 sales expected between $6.9 million and $7.2 million, up over 123% year-over-year, and annual sales projected between $21.7 million and $22.0 million, representing a 55% increase compared to 2020.

23andMe received FDA clearance for a genetic health risk report on the G84E mutation in the HOXB13 gene, significantly linked to an increased risk of prostate cancer. This report marks the company's third FDA authorization for cancer risk assessments, joining the BRCA1/BRCA2 and MUTYH-Associated Polyposis reports. Notably, 23andMe is the only company with multiple FDA-approved direct-to-consumer genetic health reports. The G84E variant is most common in individuals of Northern European descent, with approximately 33-53% of carriers likely to develop prostate cancer.

23andMe Holding Co. (Nasdaq: ME) has announced the initiation of a Phase 1 clinical trial for 23ME-00610, an immuno-oncology antibody targeting CD200R1, crucial for regulating T and myeloid cells. This trial aims to evaluate the safety, tolerability, and pharmacokinetics in patients with advanced solid tumors. The CD200R1 axis plays a significant role in immune suppression in tumors. The company, leveraging its extensive genetic database, aims to develop new treatments for cancer, marking a significant milestone in its therapeutic endeavors. A virtual R&D Day is scheduled for January 18, 2022.

On December 28, 2021, 23andMe Holding Co. (Nasdaq: ME) announced the successful completion of the redemption of all outstanding warrants under the Warrant Agreement dated October 1, 2020. Approximately 23,901,466 warrants were exercised, marking a 95% redemption rate. The redemption price was set at $0.10 per warrant, resulting in the delisting of Public Warrants from the Nasdaq. Class A common stock trading remains unaffected. This marks a significant financial maneuver for the company, reinforcing its capital structure while enabling investor participation.