23andMe CEO Considers Splitting Consumer and Therapeutics Businesses

23andMe CEO Anne Wojcicki is considering splitting the company’s consumer and therapeutics businesses to revive its stock price. The company’s shares have fallen more than 90% in just a few years, with the consumer business generating the majority of revenue while drug development incurs heavy costs. With a cash on hand of $242 million and a trimmed revenue outlook, the drug-discovery business may be an attractive asset for bigger companies. 23andMe has also pivoted to offering subscription products in hopes of creating repeat customers for its consumer business.