23andMe Holding Co

ME

Market cap $16.3M

The House Committee on Energy and Commerce sent a letter to 23andMe expressing concern that its genetic data is "at risk of being compromised." The embattled genetic testing company filed for Chapter 11 bankruptcy protection in March, and its assets are up for sale.

A U.S. House committee on Monday asked 23andMe's co-founder to testify next month as it launched an investigation into the risk of genetic data being transferred to potential buyers amid the DNA testing company's bankruptcy.

Sen. Bill Cassidy is probing 23andMe, which recently filed for bankruptcy protection, to ensure the company does not sell customer data to China or other foreign adversaries.

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--Gulp Data, a leader in data valuation and collateralization, estimates that the market comparable value of 23andMe's data assets is approximately $289 million. This valuation comes as concerns mount over the fate of the company's vast genetic database following its financial struggles. 23andMe, a pioneer in consumer genetic testing, has built an extensive dataset containing valuable genomic and health-related information. However, as recent reports highli.

As 23AndMe files for bankruptcy, customers are left wondering what happens to their DNA data? On this episode of the Big Take podcast, we discuss what this means for millions of users' genetic data and for the future of the genetic testing industry.

The US Federal Trade Commission (FTC) on Monday warned genetic testing firm 23andMe to honor its promise to protect people's personal information as it navigates bankruptcy.

Any purchaser of 23andMe assets should agree to be bound by the company's existing privacy policy, FTC Chairman Andrew Ferguson said.

23andMe, one of the first companies to provide direct-to-consumer genetic testing kits, has filed for bankruptcy. Since its founding in 2006, it has sold over 12 million DNA kits, with high-profile users including Oprah Winfrey and Warren Buffett.

The bankruptcy of consumer genetics testing company 23andMe last week led to widespread fears about the DNA of millions of Americans going on sale to the highest bidder. 23andMe has 15 million customers and with calls for users to delete their data, traffic to its website surged 526% on the day of its bankruptcy filing.

23andMe is going bankrupt — underscoring the great risks of investing in many of the companies that have gone public via mergers with special-purpose acquisition corporations.