The genetic testing company 23andMe $ME, which filed for bankruptcy earlier this year, has informed the U.S. bankruptcy court of its intention to reopen the auction process for the sale of its assets, including its extensive repository of customer genetic data. This move follows a new bid of $305 million from 23andMe’s co-founder, Anne Wojcicki, surpassing the previous leading offer of $256 million from pharmaceutical giant Regeneron Pharmaceuticals $REGN. The initial auction was expected to conclude in May, but this fresh proposal could reshape the company’s financial and operational future.

The bankruptcy announcement of 23andMe, a company specializing in DNA testing, has sparked significant concerns regarding personal data protection. On Tuesday, New York Attorney General Letitia James urged the company’s clients to take steps to secure their data, citing increasing privacy risks.

In the current climate of global uncertainty and shifting market dynamics, companies are forced to make challenging strategic decisions. Renowned genetic testing firm 23andMe recently found itself in the spotlight after filing for bankruptcy protection under Chapter 11—a pivotal step aimed at facilitating the sale of the business for approximately 50 million dollars.