Genetic Testing Firm 23andMe Files for Bankruptcy Amid Weak Demand and Data Breach

Genetic testing firm 23andMe has filed for Chapter 11 bankruptcy protection in the US amid weak demand and losses from a 2023 data breach, prompting its co-founder and CEO to resign. The company's financial struggles come as it faces declining revenue and customer dissatisfaction following the cyberattack that exposed millions of user records. The filing is expected to provide 23andMe with temporary breathing room while it explores restructuring options or potential sale.