Ancestry lays off 6% of staff as consumer genetic testing market continues to decline [TechCrunch Blog]
Invitae Corporation (NVTA)
Last invitae corporation earnings: 2/19 04:05 pm
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Source: TechCrunch Blog
Excitement in the consumer genetic testing market continues to show signs of slowing down. In the past two weeks layoffs have hit two of the biggest consumer genetic testing services — 23andme and Ancestry in a blog post CNBC first reported the news In her blogpost announcing the layoffs, Ancestry chief executive Margo Georgiadis wrote: … over the last 18 months, we have seen a slowdown in consumer demand across the entire DNA category. The Today we made targeted changes to better position our business to these marketplace realities. These are difficult decisions and impact 6 percent of our workforce. Any changes that affect our people are made with the utmost care. We’ve done so in service to sharpening our focus and investment on our core Family History business and the long-term opportunity with AncestryHealth. The move from Ancestry follows job cuts at 23andMe The genetic testing company Illumina as Business Insider reported last August. “We have previously based our DTC expectati
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News
- Invitae gets court approval for five-month bankruptcy sale [Reuters]Reuters
- Invitae gets court approval for five-month bankruptcy sale [Yahoo! Finance]Yahoo! Finance
- Genetic Testing Firm Invitae, Backed by SoftBank and Cathie Wood, Files for Chapter 11 [Yahoo! Finance]Yahoo! Finance
- Invitae files for Chapter 11 bankruptcy to address huge debt load [Seeking Alpha]Seeking Alpha
- Genetic test maker Invitae files for bankruptcy protection in US [Reuters]Reuters
NVTA
Earnings
- 11/8/23 - Miss
NVTA
Sec Filings
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- 2/13/24 - Form SC
- 2/13/24 - Form SC
- NVTA's page on the SEC website