Genetic Testing Company Just Filed for Bankruptcy in Missouri

It's not easy for some businesses these days and that includes the genetic testing field where another company has reportedly just filed for bankruptcy in a Missouri court.

I saw this news shared by Yahoo Finance today involving what's going on with one of the first US genetic testing companies - 23andMe. The report says this bankruptcy is of the reorganization type and not liquidation.

If you're not familiar with 23andMe, they offer DNA testing where you mail in a saliva-based test and they can provide you with this kind of information.

As you might imagine, many who study their family's genealogy found this service vital and millions have used it. The problem occurred a couple years ago when the report says hackers gained access to those profiles which put 23andMe in a very vulnerable place with their customers.

What's next for 23andMe after the Missouri bankruptcy court filing?

The report says they are looking for a buyer. Research programs at 23andMe were apparently discontinued and 200 people were cut from their staff. The question is can they regain the trust of those sending in their tests that their deepest DNA profiles won't end up in the hands of villains.