23andMe to Delist from Nasdaq as Regeneron Scoops Up Its Assets

​23andMe, once a high-flying pioneer in at-home DNA testing, announced it will voluntarily delist from the Nasdaq and deregister with the Securities and Exchange Commission as it winds down operations following a bankruptcy filing in March.

The company revealed that it plans to file a Form 25 Notification of Delisting on or around June 6, officially removing its stock from public trading. The decision comes after Regeneron Pharmaceuticals agreed to acquire “substantially all” of 23andMe’s assets for $256 million, pending approval by the U.S. Bankruptcy Court for the Eastern District of Missouri.

Once valued at nearly $6 billion, 23andMe gained widespread popularity through its consumer DNA test kits. However, after going public via SPAC in 2021, the company failed to generate sustainable revenue or deliver on its ambitions to enter the therapeutic and research markets.

Regeneron’s asset purchase was the result of a bankruptcy auction process, and if approved, the deal is expected to close in Q3 2025.

​Bottom line: 23andMe’s fall from biotech darling to bankruptcy case highlights the challenge of scaling consumer genetics into a long-term business. With Regeneron stepping in, the brand may live on—but not as a public company.