Second Opinion March 24, 2025
My takeaway from today’s news that the company is filing for bankruptcy
Today, 23andMe filed for bankruptcy, and its CEO Anne Wojcicki stepped down as CEO to pursue the company as an independent bidder. The company said it secured a debtor-in-possession financing, and financing commitment to continue operating.
It has been a 19-year run for the company, which got its start selling genetic tests to consumers without a physician’s note. The company has weathered its fair share of controversy. I was one of the journalists covering the company when the FDA fired off a warning letter to stop selling its tests. 23andMe rebuilt its relationship with health regulators, but it lost lucrative key partners, including pharmaceutical companies...
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