Hunter Diamond: No. It definitely did. Yes, one more. But no, I agree. Endoscopies are sort of the standard of care. So, I mean I think it’s definitely a needed offering. Shifting over to Nebula. I know you recently announced the pricing that you are looking to differentiate on lower price. Can you comment on other aspects how you are going to differentiate other than price? And how much price you view as a component of consumers purchasing genome sequencing?
Ted Karkus: Yes. So, there is really two components. There is price and there is turnaround time and reliability and service. Our lab just happens to have better turnaround times, reliability and service than virtually any lab in the country, which is why we went over all of these customers 2 years ago why our business exploded and we outperformed 95% of the labs in the customer. So, we have that down path. Having said €“ and we are building out our genomics lab as we speak. And by the way, I didn’t mention to everybody, I just walked into our lab downstairs for the first time in a few weeks. It blew me away, the carpeting is in, all the equipment is in. We have a full built-out clinical lab that’s absolutely beautiful, it blew my mind.
I can’t believe how nice it is. And then the same thing happened with our genetics lab, our genomics lab, that’s going to do the whole genome sequencing. Again, these labs are really impressive. Anybody in the Garden City in New York Area ever want to come visit, I promise you will be impressed. I looked at 60 labs to acquire in the last year or 2 years, all paled in comparison to our lab. So number one, from a lab point of view, hands down, people are going to come to our company to do whole genome sequencing and genomic testing. Number two, price, certainly for the universities, price is key and also the direct-to-consumer price is key. The reason why the major company is like 23andMe and the ancestry.com never got into whole genome sequencing is because historically, it was so expensive.
You can’t sell a test to consumers at $1,000. They are just not going to pay for. And so whole genome sequencing was so expensive. So, they instead built their whole model based on a technology that studies a very small percentage of your genome, which is all you need to get fantastic ancestry information, especially when you test as many people as they have around the world, you tie it all together. You don’t have to study a big percentage of your genome to get very accurate ancestry information. But as they try and get into health-related information, the problem is they are doing it with a test or study of the small percentage of your genome, which means that it’s not going to give you the type of results that you get with whole genome sequencing.
It’s like apples-and-oranges. Technically, our whole genome sequencing test provides more than 1,000x more data points than what these other companies provide with their tests. So, that’s number one. Number two, universities doing research, clearly they are going to hold genome sequencing. That’s not even a question, but with the universities, they are on tight budgets. And so it’s critically important to them when they have a certain budget, they want to test as many people as they can within the budget, price is critical. So, first of all, the consumers, consumers aren’t going to pay a fortune. So, if we can provide a whole genome sequencing test at that cost, how can anybody compete. First of all, because of our relationships with the global leaders, we literally are working with the global leaders who in turn want us to be their number one lab in the United States, representing them.
And so we literally are getting the best deals of any company in the country for not only for their equipment, but for their consumables. And at the end of the day, the consumables is what drives price. So, we don’t believe that there is anybody that can actually process a whole genome sequencing test as inexpensively as we have had. And then in selling it to the consumers, we can sell it across because of our model or our subscription model, where we sell a subscription, we make all the money on the subscription. So, I don’t see how anybody can compete with us. And then as far as the universities are concerned, I would say 80% of the decision is actually based on price. So, clearly, we are going to mark up the price. If we are not selling them a description, we are going to mark up the price so that we make a profit.
But even in marking up the price, we are still going to be able to offer to them than anybody else. And then meanwhile, the universities doing research in personalized precision medicine, that business is exploding. We are in the first inning. The amount of research that’s going to be ongoing in the coming years is going to be ridiculously large. Again, it’s like Internet 20 years ago. We are so well positioned. Our company is so well positioned. It’s like if you found a leading Internet company 20 years ago, you didn’t know what in advance and you just wrote it for a few years, it’s amazing how much money we are going to pay. Well, it’s the same thing with what we are doing now in the field of genomics with our whole genome sequencing. We are in the first inning.
We are a leader in terms of a lab and our reputation and our turnaround times in our customer service. And then number two, we are working with the largest companies in the world who are providing us with the least expensive consumables so that nobody can compete with us. And then in addition to that, we are working on potential strategic initiatives with some of the other largest companies in the world that want to partner with us that are really impressed with our library and other strategic initiatives. And these are global companies that want to partner or potentially partner with us not only in Nebula Genomics, but also with our esophageal cancer test and also with our Linebacker. And they might even want to white label our whole genome sequencing test that we are going to be selling into retail stores they may want to take our test, our packaging, let us do everything because we are experts at that.
And they want us to ship it and distribute it for them in other countries. So, it’s really far ranging, and it really leverages all the assets of our company. I hope that accurately answered your question.
Hunter Diamond: No, it absolutely did. I think it’s a great growth area. And like you mentioned, it’s just the whole industry is in hyper growth, right? So, you are ideally positioning yourself at a very high-growth arena in the market. Again, thank you for taking my questions.
Ted Karkus: Of course, Hunter, thanks so much. Thanks for your interest in our company as well. And MJ back to our next questioner, please.
Operator: Thank you. The next question comes from Patrick E. Patterson, Retail Investor. Please go ahead.
Patrick Patterson: Good morning Ted. Thanks very much for everything you are working. It just sounds great.
Ted Karkus: Thank you. You are quite welcome and thanks for your continued support, Pat.
Patrick Patterson: Ted, I want to ask a question about Nebula Genomics also. I mean it’s pretty clear from just your discussion just now that Nebula Genomics is just a really important ingredient in the company’s future. And yet it doesn’t even seem to be included in our market cap to stock price. And I just wonder if you have given thought to what we could do to try to literally un-cote Nebula’s pent-up value. Could you talk about that some?
