Shares of 23andme stocks fell more than 57% Monday after the San Francisco-based genetics company announced late Sunday it had filed for bankruptcy and its chief executive had resigned. 

CEO Anne Wojcicki, who will remain on the board, has failed multiple times to rescue the flagging business by trying to buy it back. 

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“I remain committed to our long-term vision of being a global leader in genetics and establishing genetics as a fundamental part of healthcare ecosystems worldwide,” she wrote on X Sunday, adding that she still wants to buy the company’s assets. 

The personal genomics company recently claimed there was “substantial doubt about its ability to continue” and announced it had started voluntary Chapter 11 proceedings to “facilitate a sale process to maximize the value of its business.”

23andMe provides saliva-based testing kits to customers to help them trace their ancestry. The financial dire straits has led California’s Attorney General Rob Bonta to encourage customers to contact the company and demand their data be deleted.

“Given 23andMe’s reported financial distress, I remind Californians to consider invoking their rights and directing 23andMe to delete their data and destroy any samples of genetic material held by the company,” Bonta said in a statement Friday, adding there was a “trove of sensitive consumer data” that was in the company’s possession. 

He also cited two specific California laws – the California Consumer Protection Act and the Genetic Information Privacy Act – that allow customers to make decisions regarding their personal data. 

Company Chairman Mark Jensen claimed that “after a thorough evaluation of strategic alternatives, we have determined that a court-supervised sale process is the best path forward to maximize the value of the business.”

“We are committed to continuing to safeguard customer data and being transparent about the management of user data going forward, and data privacy will be an important consideration in any potential transaction,” he said in a statement. 

The company has struggled to survive following the enormous 2023 data breach in which hackers targeted Jewish and Chinese customers. The breach affected nearly 7 million people, or roughly half of the company’s 15 million customers. A class-action lawsuit followed, accusing the company of failing to notify customers who had been targeted. 

It’s a dramatic fall for a company that was one of the hottest in the world only six years ago, winning the support of the U.S. Food and Drug Administration. Their kits led to tearful accounts of test takers finding information about their family trees and tracking down long-lost loved ones. Though the company enjoyed a burst of popularity, it struggled to find recurring revenue because buyers only needed one kit to be in the global database. 

Wojcicki’s effort to have the company develop its own drugs also hit a wall after failing to find enough investors.