23andMe to delist from Nasdaq, deregister with SEC

A notice has been displayed outside the headquarters of 23andMe in Sunnyvale, California, on February 1, 2024. The company has announced that it will submit a Form 25 Notification of Delisting to the SEC around June 6, leading to the stock’s removal from Nasdaq’s listing and registration. Originally, Nasdaq had notified 23andMe about filing the Form 25 in March, but as the exchange has not done so yet, the company is voluntarily taking this action. 23andMe gained popularity for its DNA testing kits that allowed customers to explore their genetic information. The company reached a valuation of approximately $6 billion at its peak. However, following its public debut through a merger in 2021, 23andMe faced challenges in generating consistent revenue and establishing sustainable research or therapeutic ventures. The acquisition deal by Regeneron is still pending approval from the U.S. Bankruptcy Court for the Eastern District of Missouri, with the expected closure in the third quarter of this year.