23andMe reports sales decline a day after announcing plans to cut 40% of workforce
Publishing timestamp: 2024-11-12 16:02:03
Summary
23andMe reported a decline in revenue in the second quarter, leading to a net loss and the announcement of cutting 40% of its workforce and discontinuing its therapeutics programs. The company is looking to potentially raise additional capital and its shares have slumped 75% this year. CEO Anne Wojcicki has been working to keep the company afloat after facing the risk of being delisted from Nasdaq.
Sentiment: NEGATIVE
Tickers: ME,
Keywords: breaking news: technology, 23andme holding co., enterprise, health care industry, technology, genetic testing, layoffs, internet, business news,
Source: https://www.cnbc.com/2024/11/12/23andme-me-q2-2025-earnings-report.html