DIRECT-TO-CONSUMER GENETIC TESTING pioneer 23andMe unveiled a new product in May. Cofounder and CEO Anne Wojcicki had long promised that 23andMe would democratize genetics and, in the process, unleash a health revolution based on personalized genomic insights. But the company's newest feature was decidedly more mundane: Through its telehealth service, 23andMe would start writing prescriptions for erectile dysfunction medication.
How the mighty have fallen. Once a leader in delivering genetic information to the masses through its DNA spit kits, 23andMe is now a telehealth also-ran, peddling genetic-based health insights alongside prescription drugs, with a side business mining its databases for drug discovery. The company, valued at $6 billion at its peak in early 2021, is today in danger of a Nasdaq delisting because of its sub-$1 share price.
Wojcicki, one of 23andMe's largest shareholders, embarked this spring on a campaign to take the company private by acquiring the outstanding shares she does not own and, analysts speculate, possibly separating the consumer-facing business from the drug-discovery effort. (Wojcicki declined requests for an interview.) She may very well secure financing and win board approval for such a transaction. But to return 23andMe to its prior glory, or come even close, she will need to do far more.
Denne historien er fra Summer 2024-utgaven av Fast Company.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra Summer 2024-utgaven av Fast Company.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Where the Clean Energy Jobs Are
A data-driven guide to the skills you need and the opportunities you'll find
CAN WWE PIN THE WORLD?
AS IT MAKES ITS $5 BILLION NETFLIX DEBUT AND PREPARES FOR A GLOBAL AUDIENCE, WWE IS STILL WRESTLING WITH THE TOXIC LEGACY OF ITS COMPLICATED FOUNDER.
RADICAL VISION
POLICE DEPARTMENTS ACROSS THE COUNTRY ARE EMBRACING AI-ENHANCED SURVEILLANCE IN THE NAME OF STOPPING CRIME. HERE'S HOW ONE SECURITY FIRM IS LEADING THE EFFORT AND PROFITING OFF OUR FEARS
Brands That Matter
Our annual look at standout brands encompasses 130 honorees in nine categories, including the inaugural CMOs of the Year. Here's how 12 of those brands and three top CMOs stake out the intersection of business and culture.
The Future According to Google
Google DeepMind, the tech giant's internal AI research lab, isn't just racing to beat OpenAI to market. Under Nobel laureate CEO Demis Hassabis, it's the \"engine room\" of the entire company.
EYE OF THE BEHOLDER
SEPHORA HAS GROWN SO POWERFUL THAT IT CONTROLS WHICH BRANDS LIVE OR DIE IN THE $30 BILLION HIGH-END COSMETICS INDUSTRY. IN THIS BEAUTY CONTEST, SEPHORA ALWAYS WEARS THE CROWN.
CULTURE WARS
Brands on the Run Why Harley-Davidson, Caterpillar, and other masculine\" brands are caving to anti-DEI crusader Robby Starbuck
WORK LIFE
Law Roach, image architect and educator, answers our career questionnaire.
The AI Gadget Debacle
Here's why you shouldn't expect any mind-blowing AI-powered gifts anytime soon.
Why the future workplace will feel more like a hotel
REVEALS WHY THIS IS IMPORTANT TO CORPORATE STRATEGY AND EMPLOYEE ENGAGEMENT
