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) announced promising results from the Phase 1 trial of its investigational antibody 23ME-00610, aimed at treating advanced solid malignancies. The data revealed a favorable safety and tolerability profile, with no dose-limiting toxicities reported. A recommended dose of 1400 mg has been selected for the ongoing Phase 2a study, evaluating the anti-tumor activity of 23ME-00610. This study will assess various cancer types including clear cell renal cell carcinoma and small cell lung cancer. The drug targets CD200R1, crucial for immune response against tumors.
Clinical results will be presented at the AACR Annual Meeting on April 18, 2023, where further details on efficacy and pharmacokinetics are expected to bolster investor confidence in 23andMe's therapeutic pipeline.
23andMe Holding Co. (Nasdaq: ME) has partnered with Morehouse School of Medicine (MSM) and the Sickle Cell Foundation of Georgia to launch a Sickle Cell Carrier Status Awareness program. This initiative aims to raise awareness of sickle cell disease and provide free Health+Ancestry DNA testing kits to MSM students, faculty, and staff. Participants will receive counseling about their results, which include a Carrier Status report for sickle cell anemia. Notably, around 300 million people globally and 1 in 13 Black or African Americans are carriers of sickle cell anemia. The collaboration seeks to improve genetic equity, especially among underrepresented communities, and educate individuals on their genetic health risks, potentially impacting future research and product development.
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.
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