SUNNYVALE, Calif. – 23andMe Holding Co. (NASDAQ:ME), a distinguished participant within the genetics and preventive well being trade, has introduced its return to compliance with Nasdaq’s itemizing necessities. The corporate confirmed right now that it has met the minimal bid value and board independence requirements essential to proceed its itemizing on The Nasdaq Capital Market.
The compliance milestone comes after the corporate addressed the minimal closing bid value requirement stipulated by Nasdaq Itemizing Rule 5550(a)(2). Moreover, 23andMe has fulfilled the standards for a majority impartial board and numerous board committee necessities as per Nasdaq Itemizing Rule 5605. These developments make sure that 23andMe’s Class A typical inventory will stay listed and proceed buying and selling beneath the ticker image “ME.”
23andMe’s achievement in regaining compliance is a vital step for the corporate, which focuses on shopper healthcare and biopharmaceuticals pushed by human genetics. The corporate goals to empower people for a more healthy future by its genetic testing companies and analysis.
The press launch additionally contained forward-looking statements relating to the corporate’s expectations and projections about future occasions. Nonetheless, you will need to word that such statements are predictions and are topic to dangers, uncertainties, and assumptions that would trigger precise outcomes to vary materially from these projected.
Buyers and stakeholders are reminded that forward-looking statements shouldn’t be seen as ensures of future efficiency, and they’re suggested to discuss with the corporate’s filings with the Securities and Trade Fee for a extra detailed understanding of the dangers concerned.
This information relies on a press launch assertion from 23andMe, and it displays the corporate’s present place as of right now. The corporate has not made any additional feedback past the content material of the press launch.
In different latest information, 23andMe has executed a 1-for-20 reverse inventory cut up, considerably decreasing the overall variety of Class A and Class B widespread shares. The biotech agency lately reported a 34% lower in Q1 2025 income, dropping to $40 million, primarily as a result of termination of a partnership with GSK. Nonetheless, the corporate’s internet loss improved, standing at $69 million in comparison with the earlier 12 months’s $105 million. Citi has maintained a Impartial ranking on 23andMe.
The corporate is going through potential delisting from Nasdaq on account of non-compliance with company governance necessities after the resignation of all impartial administrators over strategic variations with CEO Anne Wojcicki. In product growth, 23andMe launched a brand new report geared toward serving to people perceive their genetic predisposition to emotional consuming and partnered with Mathew Knowles (NYSE:) to advertise the advantages of genetic testing for figuring out private well being dangers. Moreover, its subsidiary, Lemonaid Well being, launched a brand new weight reduction program offering entry to GLP-1 drugs by a month-to-month subscription mannequin. These are the latest developments shaping 23andMe’s trajectory.
InvestingPro Insights
Whereas 23andMe has efficiently regained compliance with Nasdaq’s itemizing necessities, latest monetary knowledge from InvestingPro paints a difficult image for the corporate. The genetics agency’s market capitalization stands at $125.83 million, reflecting its present place available in the market.
InvestingPro Ideas spotlight that 23andMe is “quickly burning through cash” and “not profitable over the last twelve months.” These insights align with the corporate’s monetary struggles, which seemingly contributed to its earlier non-compliance with Nasdaq’s minimal bid value requirement.
The corporate’s income for the final twelve months as of Q1 2023 was $199.19 million, with a regarding income development of -32.67% over the identical interval. This decline in income, coupled with an working revenue margin of -128.25%, underscores the monetary challenges 23andMe faces because it strives to take care of its market place.
Regardless of these hurdles, an InvestingPro Tip notes that 23andMe “holds more cash than debt on its balance sheet,” which may present some monetary flexibility as the corporate works to enhance its efficiency.
For traders searching for a extra complete evaluation, InvestingPro presents 11 extra ideas for 23andMe, offering deeper insights into the corporate’s monetary well being and market place.
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