Once valued at $6 billion, executives have yet to find a bidder for the $50 million gene testing company that has never turned a profit.

In September, all seven of the company’s independent directors resigned en masse, citing their frustration with the CEO’s “strategic direction” and efforts to take 23andMe private.

NEW YORK (AP) — 23andMe has filed for Chapter 11 bankruptcy protection and its co-founder and CEO has resigned as the struggling genetic testing company continues its push to cut costs.

Embattled genetic testing company 23andMe, once valued at $6 billion, filed for Chapter 11 bankruptcy protection in Missouri federal court on Sunday night. The company's CEO, Anne Wojcicki ...

Gene testing firm 23andMe said on Sunday it had filed for Chapter 11 bankruptcy protection in order to facilitate its sale, after years of struggling to find a sustainable business model.In a ...