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Independent directors of 23andMe resign from board

investors.23andme.com

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Re: Independent directors of 23andMe resign from board

#11

Post by brookst »

LarsDu88 wrote: post #2

Literally just one day after 23andMe presented positive phase 2 clinical results for two anti-cancer drugs: https://therapeutics.23andme.com/news-and-research/ The board of directors of 23andMe just resigned in protest. The CEO, Anne Wojcicki (who's sister Susan died of lung cancer last month, and was the former CEO of YouTube) had tried to low ball take the company private at only $0.40 a share -- a more than 96% dr…

To complete the data, the company is trading at $0.34/share, so while $0.40 is a bit lower than the typical 20% premium (~$0.41), I'm not sure it counts as "lowball". It's a typical premium over market cap.

Is there any reason to think the company is worth $4.7B or whatever ($9.30/share)? If so the stock is a steal at its current price and we should all buy lots. But can the market be THAT wrong?

Re: Independent directors of 23andMe resign from board

#12

Post by firejake308 »

LeanderK wrote: post #6
LarsDu88 wrote: post #2

Literally just one day after 23andMe presented positive phase 2 clinical results for two anti-cancer drugs: https://therapeutics.23andme.com/news-and-research/ The board of directors of 23andMe just resigned in protest. The CEO, Anne Wojcicki (who's sister Susan died of lung cancer last month, and was the former CEO of YouTube) had tried to low ball take the company private at only $0.40 a share -- a more than 96% dr…

what am I missing? Isn't this good news (the positive phase 2 results)?

Yes, but the CEO was trying to take those profits for herself by biding to take the company private, which the Board of Directors refused to put up with

Re: Independent directors of 23andMe resign from board

#13

Post by sanswork »

dyauspitr wrote: post #8
LarsDu88 wrote: post #2

Literally just one day after 23andMe presented positive phase 2 clinical results for two anti-cancer drugs: https://therapeutics.23andme.com/news-and-research/ The board of directors of 23andMe just resigned in protest. The CEO, Anne Wojcicki (who's sister Susan died of lung cancer last month, and was the former CEO of YouTube) had tried to low ball take the company private at only $0.40 a share -- a more than 96% dr…

Why is she even the CEO? Was she placed there by Google once they bought 23andme?

She founded it

Re: Independent directors of 23andMe resign from board

#14

Post by maxerickson »

LeanderK wrote: post #6
LarsDu88 wrote: post #2

Literally just one day after 23andMe presented positive phase 2 clinical results for two anti-cancer drugs: https://therapeutics.23andme.com/news-and-research/ The board of directors of 23andMe just resigned in protest. The CEO, Anne Wojcicki (who's sister Susan died of lung cancer last month, and was the former CEO of YouTube) had tried to low ball take the company private at only $0.40 a share -- a more than 96% dr…

what am I missing? Isn't this good news (the positive phase 2 results)?

The board is making it clear that they don't think the CEO/largest shareholder is making good on their duty (as CEO) to the other shareholders.

"Good luck ......" or so.

Re: Independent directors of 23andMe resign from board

#15

Post by breck »

For the record, 23andme is one of the few companies where the CEO never once responded to one of my emails (2017, 2019, 2022, 2024).

You can make a lot of money just by betting on companies where the CEO (or the CEO's office) takes listening to customers'(who are rooting for them!) emails seriously, and shorting those that do not.

Re: Independent directors of 23andMe resign from board

#16

Post by akkartik »

dyauspitr wrote: post #8
LarsDu88 wrote: post #2

Literally just one day after 23andMe presented positive phase 2 clinical results for two anti-cancer drugs: https://therapeutics.23andme.com/news-and-research/ The board of directors of 23andMe just resigned in protest. The CEO, Anne Wojcicki (who's sister Susan died of lung cancer last month, and was the former CEO of YouTube) had tried to low ball take the company private at only $0.40 a share -- a more than 96% dr…

Why is she even the CEO? Was she placed there by Google once they bought 23andme?

She's one of the original cofounders. Google never acquired it, only invested.

https://en.wikipedia.org/wiki/23andMe

Re: Independent directors of 23andMe resign from board

#17

Post by hackernewds »

LarsDu88 wrote: post #2

Literally just one day after 23andMe presented positive phase 2 clinical results for two anti-cancer drugs: https://therapeutics.23andme.com/news-and-research/ The board of directors of 23andMe just resigned in protest. The CEO, Anne Wojcicki (who's sister Susan died of lung cancer last month, and was the former CEO of YouTube) had tried to low ball take the company private at only $0.40 a share -- a more than 96% dr…

why are these companies worth so much, if not for sneakily monetizing and selling their user's most personal data?

Re: Independent directors of 23andMe resign from board

#18

Post by nextos »

LarsDu88 wrote: post #2

Literally just one day after 23andMe presented positive phase 2 clinical results for two anti-cancer drugs: https://therapeutics.23andme.com/news-and-research/ The board of directors of 23andMe just resigned in protest. The CEO, Anne Wojcicki (who's sister Susan died of lung cancer last month, and was the former CEO of YouTube) had tried to low ball take the company private at only $0.40 a share -- a more than 96% dr…

Was the plan all the time to go B2B (drug development) and they just used B2C (selling SNP kits) to hoard samples?

Even considering all FDA limitations, I cannot understand how bad their genetic risk scores are.

They have talent, they have lots of customers and data. This is a position other companies, like deCODE, would have killed to be in.

Re: Independent directors of 23andMe resign from board

#19

Post by vlovich123 »

dyauspitr wrote: post #8
LarsDu88 wrote: post #2

Literally just one day after 23andMe presented positive phase 2 clinical results for two anti-cancer drugs: https://therapeutics.23andme.com/news-and-research/ The board of directors of 23andMe just resigned in protest. The CEO, Anne Wojcicki (who's sister Susan died of lung cancer last month, and was the former CEO of YouTube) had tried to low ball take the company private at only $0.40 a share -- a more than 96% dr…

Why is she even the CEO? Was she placed there by Google once they bought 23andme?

When did that happen? A founder was married to Sergei Brin for 8 years but that’s it.

Re: Independent directors of 23andMe resign from board

#20

Post by mensetmanusman »

“Nearly every baby born in the U.S. has blood drawn in the immediate hours after their birth, allowing the baby to be tested for a panel of potentially life-threatening inherited disorders. This is a vital public health program, enabling early treatment of newborns with genetic disorders; for them, it can be the difference between a healthy life and an early death.

But recent news suggests that police are seeking access to these newborn blood samples in criminal investigations. Such use of this trove of genetic material — to hunt for evidence that could implicate a child’s relative in a crime — endangers public trust in this vital health program and threatens all Americans’ right to genetic privacy.”

All of our new babies had heel stick blood drawn, won’t the government be the eventual competitor of 23 and me (since Americans don’t care too much about privacy).

https://www.aclu.org/news/privacy-technology/police-are-usin...

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