Now I think that what we’re offering for $200, they’re offering for $600, $700, $900. That’s also why all these B2B deals are starting to form with us and why there’s so much excitement out there, because a lot of these are distribution companies that come to us for a fantastic whole genome sequencing test at a lower price than virtually any other lab in the country, if not in the world. And they can mark it up. So, they can handle all the distribution. We don’t even get involved in that. And the numbers can be huge. Now add our bioinformatics. Who adds our bioinformatics? 23andMe doesn’t. Quest and LabCorp don’t. They’re in — Quest and LabCorp not even in the business. For them to build out our labs, it’s going to take a couple of years and it’s even more complicated because they may never be able to get the equipment that we already have in this country for reasons I’m not going to go into.
So, Quest and LabCorp, they’re going to be competitors, they’re going to be competitors in two or three years, not today. They’re not even in the business that we’re in right now. Call up Quest, call up LabCorp, ask them what it costs for a whole genome sequencing test with no reports, just for the data. Now, ask them about the reports, they’ll say, “Oh, we don’t. What reports? All right? They don’t have 340 reports to go along with a whole genome, there’s just no comparison. So, it’s a good question, but what that highlights is the enormity of the opportunity we have right now with this business. As far as I can tell, we have no real competition. And the last thing I’ll tell you is the few labs out there that could be considered competition to us, they’re developing really bad reputations really quickly.
They’ll tell you that they have six week turnaround times and they’re not getting their results. Customers aren’t getting their results six months later. The pricing that they charge is significantly greater. They make it in their ads, they make it sound better. One of the things we’re doing is we’re revamping our ads and how we present because our actual price is significantly lower when you include the reports. But what they do is they tease you by giving you a price that’s lower than the cost for them to sequence. But the reporting that they tag on is enormous. And when you put it all together, what they’re charging is dramatically more than we are. So there’s a marketing game here. We’re not aware of any real competition with our pricing and our reports in this country, if not in the world.
There might be another lab in the world that can compete with us on price, but they don’t have our bioinformatics. So there’s some really interesting dynamics going here. We’re really well positioned. Quest and LabCorp are not even close to being competition to us. And the truth of the matter, two years from now when they want to get into business, they’re more likely to buy our lab than to start trying to figure it out and build it. Great question, thank you.
Noella Alexander-Young: Thank you so much, Ted, for your responses. That concludes the Q&A session, but before we go, I will turn back the floor to Ted for final remarks.
Ted Karkus: Thank you, Noella. Listen, shareholders and potential shareholders, I really appreciate your support. I’m the largest shareholder in the company. People I consider to be very close friends have been investors alongside of me, that I’ve had relationships with 10, 20, 30, even longer, 30 years and more. And they’ve been investors with me in this company since I was an investor and I wasn’t the CEO. And they have all seen what I have done after becoming CEO. And the bottom line is, over long periods of time we execute, we always had. It doesn’t mean every project we work on is going to be successful. There’s no reality to that. And the one thing most investors don’t understand, there’s a very big difference between an investor and expecting versus being the CEO and actually having to do.
And the bottom line is, if you’re managing a portfolio, you invest in 10 stocks, all 10 don’t work out. Well, the same thing happens as a CEO making strategic decisions, they don’t all work out. We acquire businesses, they don’t all work out. And so, what I am constantly doing and our management team is constantly doing is figuring out how to best optimize the upside of our company on a per share basis so that one, two and three years from now, our shares are even more valuable. I can’t control the stock price, but I can continue to build the underlying value. And so, Pharmaloz, perfect example. I never talked about Pharmaloz before the last few months. We’ve been working with our management team for more than a year on it, but I never talked about it until I saw the light at the end of the tunnel and I saw it all coming together.
And so that’s why now I talk about it, I’m so excited about it. Nebula we’ve been talking about for a long time, but we’ve been talking about that as a D2C business and wanting to build their own lab. We have a completely different infrastructure and gameplan and direction now than we had in the past. And the lab costs a lot of money to build, but it pales in comparison to the opportunity. It’s the same thing as COVID. The only difference is in COVID three years ago, Think Equity gave us $37.5 million. And so nobody even paid attention to us losing money for a quarter or two, and then it ramped up and exploded. So Nebula, I expect the same thing to happen. I just don’t know the timeframes when it’s going to happen. I actually think that the opportunity at Nebula is larger than what we did in COVID.
