13.9 C
Auckland
Tuesday, November 5, 2024

Popular Now

DNA testing giant 23andMe faces financial and privacy challenges

23andMe news

DNA-testing company 23andMe was once a market leader with a valuation surpassing even Apple’s but now finds itself fighting for survival.

The company’s share price has plunged from $321 to under $5 in just three years, and this week, it narrowly avoided being delisted from the stock market.

Analysts suggest 23andMe’s difficulties stem from a lack of recurring revenue and slow returns from its genetic data’s potential in drug research.

The company’s leadership has also seen significant changes, with most of its board resigning over the summer, leaving only CEO and co-founder Anne Wojcicki.

Wojcicki is said to be exploring the option of taking the company private.

23andMe is under scrutiny for the vast amounts of sensitive genetic data it holds.

he company’s database includes not only individual users’ data but also genetic information of their relatives, raising serious concerns about data security and potential misuse.

While 23andMe claims existing data protections and customer consent terms remain intact, a recent hacking incident has fuelled further market fears.

Promoted Content

No login required to comment. Name, email and web site fields are optional. Please keep comments respectful, civil and constructive. Moderation times can vary from a few minutes to a few hours. Comments may also be scanned periodically by Artificial Intelligence to eliminate trolls and spam.

1 COMMENT

  1. Ooh, dangerous stuff to have lying around. JFK Jnr asserting ‘vaccines’ are targeted to disable certain phenotypes
    looks like a possibility.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

Trending

Sport

Daily Life

Opinion

Wellington
light rain
13.9 ° C
14.8 °
13.3 °
93 %
5.7kmh
100 %
Tue
14 °
Wed
15 °
Thu
16 °
Fri
16 °
Sat
15 °