Genetic testing firm 23andMe files for bankruptcy, sees CEO resign amid financial collapse and data breach.

23andMe, a genetic testing company, has filed for Chapter 11 bankruptcy and its CEO and co-founder Anne Wojcicki has resigned. The company plans to sell its assets through a court-approved process while seeking new ownership. Despite facing financial difficulties and a data breach, 23andMe intends to continue operating and protecting customer data. Its market value has plummeted from $6 billion to under $50 million since its 2021 IPO.