23andMe Announces Business Restructuring to Streamline Operations, Reduce Costs and Position Company for the Future
23andMe Holding Co. (ME)
Company Research
Source: GlobeNewswire
Reduces workforce by roughly 40%; expects annualized cost savings of more than $35 million Discontinues development of therapeutics division and commences strategic alternatives process for all in-house therapeutic programs SUNNYVALE, Calif., Nov. 11, 2024 (GLOBE NEWSWIRE) -- 23andMe Holding Co. (Nasdaq: ME) (the “Company” or “23andMe”), a leading human genetics and preventive health company, today announced a business restructuring to streamline operations and reduce costs. In addition, 23andMe is discontinuing further development of all its therapeutics programs, while evaluating strategic alternatives for its clinical and preclinical assets. The Company is reducing its overall headcount by over 200 employees, representing approximately 40% of the workforce. The business restructuring is expected to substantially reduce operating expenses and result in annualized cost savings of more than $35 million. The Company expects to incur up to $12 million in costs and expenses primaril
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- 23andMe and Mirador Therapeutics Enter Into Strategic Research Collaboration to Advance Mirador’s Precision Medicines for Immunology & InflammationGlobeNewswire
- 23andMe Holding Co (ME) Q2 2024 Earnings Call Highlights: Navigating Challenges with Strategic ... [Yahoo! Finance]Yahoo! Finance
- 23andMe cuts 40% of its workforce [FOX Business Network]FOX Business Network
- 23andMe Reports Second Quarter Fiscal Year 2025 Financial ResultsGlobeNewswire
ME
Sec Filings
- 11/21/24 - Form 4
- 11/15/24 - Form 144
- 11/15/24 - Form 144
- ME's page on the SEC website