%3cdiv+class%3d%22blog_post_content_wrapper+layout_list%22%3e+%0a+%3cdiv%3e+%0a++%3cfigure%3e+%0a+++%3cdiv%3e+%0a++++%3cdiv%3e+%0a+++++%3cimg+alt%3d%22Genetic+testing+firm+23andMe+files+for+bankruptcy%22+data-src%3d%22%2ffiles%2fimages%2f20250324%2ffb7c6207c348969e74ee3be132.jpeg%22+height%3d%22540%22+loading%3d%22eager%22+src%3d%22%2ffiles%2fimages%2f20250324%2ffb7c6207c348969e74ee3be132.jpeg%22+width%3d%22960%22+%2f%3e+%0a++++%3c%2fdiv%3e+%0a+++%3c%2fdiv%3e+%0a++%3c%2ffigure%3e+%0a++%3cp%3e+Gene+testing+firm+23andMe+said+on+Sunday+it+had+filed+for+Chapter+11+bankruptcy+protection+in+order+to+facilitate+its+sale%2c+after+years+of+struggling+to+find+a+sustainable+business+model.+%3c%2fp%3e+%0a++%3cp%3e+In+a+statement+announcing+the+bankruptcy%2c+the+firm+said+its+CEO%2c+Anne+Wojcicki%2c+had+resigned+effective+immediately.+She+will+remain+on+the+company%e2%80%99s+board+of+directors.+%3c%2fp%3e+%0a++%3cdiv+data-testid%3d%22inarticle-ad%22%3e+%0a+++%3cdiv+data-ad-loc%3d%22mid_center%22+data-ad-region%3d%22main-dynamic%22+data-ad-size%3d%22970x250%2c728x90%2c300x250%2cfluid%22+data-ad-unit%3d%22%2f22888152279%2fus%2fyfin%2fros%2fdt%2fus_yfin_ros_dt_mid_center%22+data-testid%3d%22ad-container%22%3e+%0a+++%3c%2fdiv%3e+%0a++%3c%2fdiv%3e+%0a++%3cp%3e+%e2%80%9cAfter+a+thorough+evaluation+of+strategic+alternatives%2c+we+have+determined+that+a+court-supervised+sale+process+is+the+best+path+forward+to+maximize+the+value+of+the+business%2c%e2%80%9d+Mark+Jensen%2c+chair+and+member+of+the+Special+Committee+of+the+board+of+directors%2c+said+in+the+statement.+%3c%2fp%3e+%0a++%3cp%3e+Late+last+year%2c+the+company+said+it+was+cutting+about+40%25+of+its+workforce+-+around+200+employees+-+and+discontinuing+further+development+of+all+its+therapies+as+part+of+a+restructuring+program%2c+according+to+Reuters.+%3c%2fp%3e+%0a++%3cp%3e+In+September%2c+all+seven+of+the+company%e2%80%99s+independent+directors+resigned+en+masse+%2c+citing+their+frustration+with+the+CEO%e2%80%99s+%e2%80%9cstrategic+direction%e2%80%9d+and+efforts+to+take+23andMe+private.+%3c%2fp%3e+%0a++%3cdiv+data-testid%3d%22inarticle-ad%22%3e+%0a+++%3cdiv+data-ad-loc%3d%22mid_center_2%22+data-ad-region%3d%22main-dynamic%22+data-ad-size%3d%22970x250%2c728x90%2c300x250%22+data-ad-unit%3d%22%2f22888152279%2fus%2fyfin%2fros%2fdt%2fus_yfin_ros_dt_mid_center%22+data-testid%3d%22ad-container%22%3e+%0a+++%3c%2fdiv%3e+%0a++%3c%2fdiv%3e+%0a++%3cp%3e+The+company%2c+which+went+public+in+2021%2c+had+never+made+a+profit.+The+stock+shot+up+following+the+listing%2c+briefly+valuing+the+company+at+%246+billion.+Wojcicki%2c+who+owned+49%25+of+the+company%2c+became+a+billionaire.+%3c%2fp%3e+%0a++%3cp%3e+Its+core+product%2c+an+at-home+DNA+testing+kit%2c+offers+%e2%80%9cpersonalized+genetic+insights%e2%80%9d+that+the+company+says+can+flag+potential+health+risks+such+as+one%e2%80%99s+likelihood+of+developing+Alzheimers+or+certain+cancers.+%3c%2fp%3e+%0a++%3cp%3e+23andMe+tried+to+convert+one-time+buyers+into+subscribers+with+the+promise+of+continued+feedback+and+personalized+wellness+plans+but+had+reportedly+fallen+short+of+its+goals.+%3c%2fp%3e+%0a++%3cp%3e+%3cem%3e+This+story+has+been+updated+with+additional+reporting+and+context.+%3c%2fem%3e+%3c%2fp%3e+%0a++%3cp%3e+For+more+CNN+news+and+newsletters+create+an+account+at+CNN.com+%3c%2fp%3e+%0a+%3c%2fdiv%3e+%0a%3c%2fdiv%3e