'People want vanilla ice cream': CEO Anne Wojcicki grapples with 23andMe's dual identity
SAN FRANCISCO — 23andMe CEO Anne Wojcicki said she’s “open to all ideas” in addressing investor confusion and turning around a disappointing start to the genomic pioneer’s life as a public company.
Even as the JP Morgan Healthcare Conference brought a burst of optimism to start 2024, stoked by a rallying biotech market and improving macroeconomic climate, 23andMe’s stock dropped another 14% last week. The South San Francisco-based biotech, best known for selling DNA genotyping kits to millions of people and now also developing its own drugs, has seen its stock price fall over 90% since going public in June 2021. It’s taken the company’s valuation from $3.5 billion at its market debut to roughly $307 million. Shares of 23andMe $ME closed Wednesday at $0.64, an all-time low.
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