Me Holding Co.’s stock tumbled 47% Monday, after the DNA-testing company filed for Chapter 11 bankruptcy, just months after admitting there was substantial doubt about its ability to continue as a going concern.

23andMe, the company whose mail-in self-testing kits became synonymous with DNA testing, is filing for bankruptcy amid slowing sales four years after it went public. Anne Wojcicki, who co-founded 23andMe in 2006, is stepping down as CEO as the company tries to find a buyer.

Me has filed for the Chapter 11 process and their CEO has resigned to become an independent buyer despite her recent bid being rejected.

DNA testing pioneer 23andMe filed for bankruptcy — sparking fresh concerns about safeguarding the personal data of the company’s more than 15 million customers. The former Silicon Valley darling sought Chapter 11 protection on Sunday after struggling with weak demand for its ancestry testing kits that once featured in Oprah Winfrey’s annual list of favorite things,

With genetic testing company 23andMe declaring bankruptcy and courting bidders, the DNA data of millions of users is up for sale, sparking privacy concerns.

The New York attorney general's office plans to warn 23andMe customers to delete their data after the DNA testing company announced it will seek a buyer.

By Bhanvi Satija, Anusha Shah and Surbhi Misra (Reuters) -23andMe on Sunday filed for bankruptcy in the U.S. after struggling with weak demand for its ancestry testing kits and a 2023 data breach that damaged its reputation.

DNA-testing company’s site has been tough to navigate in wake of bankruptcy, raising concerns about what happens to personal and family health histories.