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) will report its financial results for the fiscal year 2022 second quarter on November 10, 2021, after market close. A conference call is scheduled for 4:30 p.m. Eastern Time. Shareholders can submit questions via the Say Technologies platform ahead of the earnings call. 23andMe has established itself as a leader in consumer genetics, with multiple FDA authorizations for health risk reports and a robust research platform that has facilitated over 180 publications on genetic diseases.
23andMe Holding Co. (Nasdaq: ME) has acquired Lemonaid Health, a telemedicine platform, enhancing its consumer healthcare offerings. This acquisition aims to provide personalized healthcare, leveraging genetics as a foundation. Lemonaid's services will integrate into 23andMe’s consumer business, led by its co-founder Paul Johnson as Vice President. The deal emphasizes better access to affordable healthcare and aligns with 23andMe's mission of empowering individuals through genetic information.
23andMe Holding Co. (Nasdaq: ME) has signed a definitive merger agreement to acquire Lemonaid Health, Inc. for approximately $400 million, with 25% in cash and 75% in shares. This acquisition aims to enhance 23andMe's telemedicine capabilities, allowing for personalized healthcare through a combination of genetics and telemedicine services. The deal is anticipated to close by the end of 2021, with Lemonaid’s CEO, Paul Johnson, transitioning to lead 23andMe's consumer business.
23andMe Holding Co. (Nasdaq: ME) will report its fiscal year 2022 second-quarter financial results before the market opens on November 10, 2021. A conference call will be held at 4:30 p.m. ET to discuss these results alongside business progress. 23andMe is noted for its pioneering role in consumer genetics and has multiple FDA authorizations for genetic health risk reports. The company has built the world's largest crowdsourced platform for genetic research, contributing to over 180 publications in genetic studies.
23andMe Holding Co. (Nasdaq: ME) announced its participation in the Wells Fargo Virtual Healthcare Conference on September 10, 2021, at 8:20 a.m. PT. Investors can access the live webcast on the company's website. The session will provide updates on the company's developments in consumer genetics and therapeutics. Founded in 2006, 23andMe aims to enhance public access to genetic information and has the world's largest crowdsourced genetic research platform.
23andMe Holding Co. (Nasdaq: ME) reported a 23% increase in revenue for Q1 FY2022, totaling $59 million, compared to the prior year. The company's cash balance reached $770 million following a merger with VG Acquisition Corp. Despite revenue growth, net loss widened to $42 million, influenced by escalating operating expenses due to heightened R&D and marketing efforts. The company's full-year revenue guidance is projected at $250 to $260 million with anticipated net losses of $210 to $225 million. 23andMe continues to expand its therapeutics portfolio while enhancing its customer database to 11.6 million genotyped customers.
23andMe Holding Co. (Nasdaq: ME) announced that it will report its fiscal year 2022 first-quarter financial results on August 13, 2021, before market opens. A conference call will be held at 11:00 a.m. ET to discuss these results and business progress. The webcast will be available for later replay.
23andMe is recognized for its consumer genetics services and has FDA authorizations for genetic health risk reports. The company has a strong research platform, with over 180 publications pertaining to various diseases and conditions.
23andMe Holding Co. (Nasdaq: ME) announced the appointment of Dr. Valerie Montgomery Rice and Peter Taylor to its board of directors, following its recent business combination with VG Acquisition Corp. Dr. Montgomery Rice is the president of Morehouse School of Medicine, emphasizing diversity in healthcare. Peter Taylor leads initiatives focusing on educational outcomes and has extensive experience in finance. Together, they aim to enhance 23andMe's efforts in personalized medicine and improve healthcare through human genetics, positioning the company for growth.
23andMe Holding Co. has completed its merger with VG Acquisition Corp., with shares commencing trading on Nasdaq under ticker ME from June 17, 2021. The business combination was approved by shareholders on June 10, 2021, raising approximately $592 million to enhance 23andMe's consumer health and therapeutics efforts. CEO Anne Wojcicki emphasized the aim to expand personalized healthcare access. Additional board members include Evan Lovell and Peter Taylor, while Sir Richard Branson supports the company’s growth vision.
VG Acquisition Corp. (NYSE: VGAC) announced that its shareholders approved the merger with 23andMe, Inc. at a Special Meeting held on June 10, 2021. Over 87% of votes supported the merger, which is set to finalize on June 16, 2021, pending customary closing conditions. Following the merger, VGAC will be renamed to 23andMe Holding Co., with new shares trading on Nasdaq under the symbol 'ME' starting June 17, 2021. 23andMe is recognized for its consumer genetics services and the world's largest crowdsourced genetic research platform.
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