And it’s just a matter of how much business we can even do with them. So we’re basically locked in Pharmaloz. With Nebula, this is such a dynamic situation is evolving on a daily basis. As I said, Jason and Jade and the rest of our team, and I don’t want to call them at all, all by name. We’re just at this once a year, major genomics conference, and honestly, we were ahead of the conference. Everybody wanted to meet with us. And everybody knows the words getting a very quickly that we’re the low-cost provider whole genome sequencing. So how quickly can we get build the capacity? How quickly can we hire more people? How quickly can we get more organized and more efficient? And all that’s going to happen in the next few months. We’re going to have growing pains similar to the experience we had with COVID testing.
The first few months we had growing pains, and then the revenues in orange just exploded. I expect the same thing to happen with Nebula. I can’t tell you how many growing pains and I can’t tell you which month. So I hope that that was a long winded way of answering your question. I can’t give you more specifics on a breakdown of revenues and then what’s reported. But if you do need more information, I’m happy to connect you with our CFO after the call.
Yi Chen : Thank you, will the company feel comfortable to provide some kind of revenue guidance on the 2024 full year results earnings call?
Ted Karkus : Well, I’m certainly not going to do it on this call. And I’m not going to make up a number. And to be honest, Yi, we have never given specific revenue guidance. In fact, even stating I state the capacity numbers, as I say, we have the band for the capacity. I’ve never actually given the numbers. So let me look into it, but you should have an idea that the, as I said in the third quarter, there was very minimal contribution from our COVID testing. So and you can assume that both Pharmaloz and Nebula genomics revenues will grow in the fourth quarter, but where they’ll really take off is in the fourth quarter. So you can expect a little improvement in the fourth quarter in the revenues of those two subsidiaries, and then the first quarter, it takes off in a really nice way.
Yi Chen : Okay, got it. Thank you.
Ted Karkus : Yi, thanks so much. I always appreciate your support and following our company. If, Nick, if we go to the next question, please.
Operator: Yes, that’ll be from Hunter Diamond of Diamond Equity. Please go ahead.
Hunter Diamond: Hi, great update today. And thank you for the shout out. So I wanted to maybe get some information on the supply demand imbalance for Nebula Genomics and the whole genome sequencing, because you’ve kind of broken it out for the other business. And I wanted to see where you’re seeing that demand is from insurers? Is it from just big corporations? And what are your thoughts on insurers potentially covering whole genome sequencing in the future?
Ted Karkus : Yeah, great question. So none of our business. The beauty of our genomics business, is that none of it is reliant on insurance right now. And so this is an industry that literally is in its infancy. When I talk about us being in the first inning, we literally were in the first inning here. I talked about whole genome sequencing, you know, I’ve been talking about for three years. And, George Church been talking about it for 20 years. And Nebula Genomics are company that we acquired was actually founded six years ago. But it’s in its infancy, and the gating factor was the price. And that’s why, for instance, the ancestry company, they all, none of them did whole genome sequencing, they didn’t they built their model, they completely built a completely different model, around what are called SNIP [ph] is a type of genomic testing, that study is less than 1% of your genome, which is all you really need for ancestry anyway.
But you don’t get a lot of great data for health. And so we’re just going — we’re in the first inning of going in a health direction with learning about your genetic makeup, how your genetic makeup plays role in diseases that you’re predisposed to, and which drugs or therapies to take based on your genetic makeup. And I always love to say, I mean, I hate that people get cancer, but two people get cancer, they get the exact same cancer, they take the exact same drug and it works on one, it doesn’t work on the other, or it works on both. But it works better on one and worse on the other and one needs more one needs less. How do you figure that out? Which drugs what therapeutic take, and what the dosing should be? Dosing is critically important with cancer drugs, because they’re deadly.
They’re not only killing cancer cells, they get kill healthy cells. These are critically important questions that no one the doctors don’t know the answers too. And so that’s why all the research is going in this direction. And it’s huge. And so what’s happening is, when you say the supply demand, the demand really is based on the pricing. And so it’s opening up doors to companies that didn’t even think about this before. So what’s interesting is we’re seeing demand from telemedicine companies. These are companies that have networks of not only hundreds, if not thousands, of physicians, but of millions of patients. And just imagine if we did a deal with a telemedicine company that has access to millions of patients, and says, hey, it goes through their physician.
