Ted Karkus : Okay. It looks like we’re done with questions, and we’ve come up on the hour. Anyway, so let me just wrap it up. It looks like we have one more question. Go ahead. Why don’t you bring in one last question Nick?
Operator: All right, that’ll be from Mr. Patrick Patterson, Ion Publishers LLC [ph]. Please go ahead.
Unidentified Analyst: Kid, I love what you’re doing with every one of the subsidiaries intrinsic value is phenomenal. I know you’re going to realize all that money for us one day. And everybody’s so excited about Nebula, me too. But I want to ask you about the esophageal cancer test. It’s such a life saving thing we already know it works. And I know you’re having to wait for these last samples, and things. So my question is, we get $20 million at ASCO these last year. I mean, I know I was one of them. But just how do you manage to tell all the GI doctors in America that this just is going to be there? And that there is a CPT code and that they ought to do it? In other words, how do you pull it out? Can you talk about that?
Ted Karkus : So that’s — yeah, great question. Great question. Okay, here we go. First of all, we — one of our senior executives at our company just attended a CEO conference for healthcare companies, and insurance — health insurance companies. And universally what all the insurance companies said to us was, if you have a test, we’re happy that the test will tell you whether or not you have captured definitively. And understand right now if you get an endoscopy, and that’s a tissue specimen, it’s studied under a microscope to pathologist can study that specimen and tell you different outcomes, you have false positives and false negatives, it’s really bad. Our test is virtually 100% accurate for telling you whether or not you have cancer now, which is critically important.
But what the insurance companies say is, well, if you tell us that the person has cancer, now, that’s great, but they already have cancer. And once you get diagnosed with esophageal cancer, you die 80 to 90% of the time. So there isn’t much that the insurance companies can do with that other than say, it’s disappointed, too bad this person has esophageal cancer, it’s too bad it wasn’t caught soon. That’s what our test does, it can catch it sooner. All right. So what the insurance company said was, it’s nice if you can recognize whether or not you have cancer now, but the Holy Grail would be as if you could tell us whether you’re at high risk or low risk. If your test can do that, we will tell we will mandate to the physicians that they have to order your test when somebody comes in for an endoscopy.
That’s where we’re going with this. So what’s interesting is, wow, we’re already — we’re already talking to a potential very large company, where this test would fit right in their wheelhouse. If we wanted to sell it lock, stock and barrel for black money upfront, and a royalty. And it’s possible, we go that route, and the shareholders would be very happy if we go that route. And what we’re doing right now we hired an independent, highly regarded statistics company, to go through all of the numbers to give a potential acquirer exactly what they would need. Okay. And that’s actually why we mentioned, in our press release that we hired this statistics company. Now, what’s interesting, though, is — and I’ve touched on this in the past, but this was just confirmed by the CEOs of some of the largest insurance companies in the country, who said, if our test can tell you a higher low risk, that’s the Holy Grail.
And guess what, that’s the other part of the study that we’re doing right now is to figure out since our tests already and we have the IP on this. We isolated the proteins that cause that shift that gives you the indication that you’re developing esophageal cancer. So what we’re working on right now, or the statistics involved in figuring out how biggest shift in those proteins tells you whether or not you’re going to get esophageal cancer whether you’re at high risk or low risk. Because one thing that I realized a while ago, which I discussed with our team, was the fact that one people two people are at high risk of esophageal cancer and one changes their lifestyle and their eating habits. And the risk goes down. And the other person instead is nervous, depressed, whatever the reason is, eats more, and accelerates the growth of the cancer — of the cancer cells and gets esophageal cancer.
That’s out of the control of the test to read the mind of the person taking the test. So it’s thinking, there’s got to be a gray area here, what we call the yellow or orange area, which is the warning zone, where a test will tell you if you’re in the warning zone, but we can’t tell you what the person’s going to do. So what we can do, though, is review the studies that have already been done and do more studies. And again, these are studies on people where in some cases, we can go back two, three, five years. These are people that may have been biopsied years ago. And we can actually see the outcomes. And we can see based on the shifts in the proteins where they had high risk or low risk. So that’s what we’re developing right now with the statistics.
So that this is more than just a test to tell you whether or not you have cancer now, but whether you’re in high risk or low risk. Once we perfect that it’s quite possible if the insurance companies are so excited about this that we don’t need to sell this to a major company for big amount of money. We’ll be able to, because I don’t know that I want to build a sales force with 100 people that go call on physicians around the country say, hey, we have this great test, you should really use it and blah, blah, blah. I don’t know that one. So that just wouldn’t be efficient. And that would be a reason to partner with a major cancer testing company. All right. But on the other hand, if the insurance company says they’re going to mandate, the GI is in the physicians, that’s a whole different ballgame.
Now, in addition to that, with the work that we’re doing, and because we isolated the proteins. And now we’ve also developed, I mean, I could go on and on about this, but very quickly, we’re developing a brush technique where you don’t even have to get an endoscopy. So that we’re developing right now, if that happens, you can go into a GI so if it’s not going to endoscopy. They have you have rumbling your stomach, you have symptoms, or you’ve had an endoscopy in the past, you have [Indiscernible], which is a precursor to esophageal cancer. And will have a brush that goes down your throat. And with the specimens that we’ve picked up from that brush, we’ll be able to run that on our test without any endoscopy, which would be incredible. Because then you’re talking about the market for this.
I mean, the numbers would be so big, it’s ridiculous. So that’s game changing. And then the last piece of this, I don’t want to get into this. But the last piece of this is with the research we’re doing and with the IP that we have, and with the proteins that we’ve isolated, it’s possible that we can actually develop a therapeutic out of this. So that’s much further down the road. My point while this is simply to say that our esophageal cancer test has enormous potential, everything is going really, really well with it. The only reason I don’t spend more time talking about it is because of the market environment that doesn’t really care about development stage biotech. And we have two operating subsidiaries, between Nebula Genomics, and Pharmaloz, that are going to generate significant revenues and generate significant profits next year.
