23andMe on Tuesday reported declining revenue in its most recent quarter, a day after the company said it will cut 40% of its workforce and shutter its therapeutics business as part of a business restructuring plan.
The genetics company reported $44.1 million in revenue for the fiscal second quarter, down from $50 million in the same period last year.
23andMe's net loss narrowed to $59.1 million, or a $2.32 per share, from $75.27 million, or $3.17 per share, a year ago.
It's evaluating strategic options like asset sales and licensing agreements to "maximize the value" of the therapeutic programs, the release said.
Wojcicki has repeatedly stated her intention to take 23andMe private, though she didn't address the plans on Tuesday.
Persons:
Anne Wojcicki, They've, 23andMe, Wojcicki
Organizations:
Nasdaq, NASDAQ, SEC