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) 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.
23andMe Holding Co. (Nasdaq: ME) announced it will present data from its 23ME-00610 immuno-oncology program at the AACR 2022 Annual Meeting in New Orleans, scheduled for April 8-13, 2022. The presentation includes two abstracts focusing on a first-in-class monoclonal antibody targeting the CD200R1 immune checkpoint. Key details include poster sessions on April 10, with E-posters available starting April 8. 23andMe, known for its consumer genetics and therapeutics, continues to leverage its genetic survey database for innovative cancer research.
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.
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