Good morning. This is Dan Brennan. I cover diagnostics tools and pharma services for UBS, and this is day three of the conference. Hopefully, you're enjoying it, the virtual conference that is. Really pleased to be joined with me here on the virtual stage with the senior executive team from Aurashore Technologies.
With me on the phone is Steve Tang, president and CEO, and Roberta Cucca, Roberto, if I mispronounced your last name, I apologize, The chief financial officer. I have a series of questions to go through, but please feel free to log in to the webcast and send questions to me that way, and I'll try to get to those. And I think, Steve and Roberto were gonna go through a bit of a prepared presentation, which they'll direct you to the right spot. But with that, let me turn it over to them and say again, welcome, guys.
Dan, thank you. On behalf of OraSure Technologies, Roberto and I are delighted to be here, and thanks for having us at UBS Healthcare Conference. I'm going to be referring to a five page deck, which hopefully the audience has access and availability to right now. So just beginning with the title slide number one, I'll give a brief overview of OraSure Technologies and then happy to discuss more with Dan. Page two is our Safe Harbor statement.
So please remember that our view of the future contains uncertainty and is subject to this forward looking disclaimer. Number three, Oresure and its subsidiaries are pioneering new paths to health and wellness on a global scale. Our innovative sampling tools, services and diagnostics unlock access to accurate essential information that advances global health and well-being. Our products and services help people understand what's in us, what's on us, and what's around us. Page four, they include molecular sampling kits for the genome and microbiome, cutting edge technology to analyze the microbiome, and rapid tests for infectious disease and substance abuse.
Together with our subsidiaries listed here, we offer differentiated products with competitive profiles in attractive markets. Key to our future is our robust balance sheet. We have a strong cash position with $176,000,000 on our balance sheet at the end of the first quarter and no debt. This facilitates our active business development program and enables us to weather the type of uncertainties presented by the COVID-nineteen pandemic while still pursuing our innovation growth strategy. Page five.
I'm proud that OraSure is bringing its expertise with infectious disease diagnostics, sample collection, and oral fluids to the battle against COVID-nineteen. On the testing front, we are developing a pan SARS coronavirus antigen rapid in home self test that uses oral fluid samples, and a coronavirus antibody ELISA test for the detection of human anti SARS CoV-two antibodies in oral fluid specimens. Our DNA Genotek subsidiary is working with laboratories and researchers to demonstrate the effectiveness of VID sample collection technologies for coronavirus testing. We've been able to respond so quickly to COVID-nineteen because we have proven experience developing tests, working with regulators like FDA to get them approved, and scaling up for global markets. We're fortunate to be extremely well positioned based on all those experiences.
And with that, Dan, we're happy to take your questions and further discuss OraSure.
Terrific. Thank you. That was really helpful Brief introduction. Maybe maybe I'll kick in with just a high level, if you don't mind. Since you took over as CEO, and and you were a US CFO, the company's certainly, taken on a new look.
I mean, a lot of the core, assets, obviously, still in place, but you've done some acquisitions. I mean, I think there's been an emphasis on certain areas, maybe the emphasis on others. Maybe give us a little, kind of view, if you will, about, the strategy that you've deployed thus far in terms of whether there's more M and A to come, whether there's more repositioning, how do we think about the strategy going forward? I know you just gave us the snapshot, but I'm just wondering if you can kind of dial back to where we were and where we are today.
Of course. You're right. There's a lot that's changed in the past two years since I became CFO and Roberto became CFO, in particular the past few months since COVID-nineteen. Our core commitments to improve global health and to implement our innovation growth strategy remain very strong. Outside of our work with COVID-nineteen that I just covered, we'll continue to expand in the global markets with our OraQuick HIV Self Test.
We see tremendous growth potential in new products and services focused on the microbiome and multiomics areas. And for those of you who not familiar with those emerging areas, the microbiome refers to the trillions of bacteria and other microbiomes or microorganisms, excuse me, that live in or on our bodies. Unlike human DNA, which is stable, the microbiome changes frequently throughout life. And scientists are studying how the microbiome influences human health in diseases like colitis, diabetes, and cancer. Multiomics casts a new light on old questions of predicting, diagnosing, treating, and curing diseases and other conditions such as diabetes and cancer by looking at multiple oms such as the genome, the microbiome, simultaneously.
Our ability to provide customers with both genomic and microbiome products and services is an important foundation for Oshur to become a leading source of multiomics tools and analytics. Ultimately, we envision a company that drives access to multiple layers of information and data to understand health, wellness and disease states. To optimize our performance, we continue to invest in manufacturing capacity and improve production efficiency across our businesses. And as you mentioned, one of the key drivers of our future growth potential is our solid financial position. As I mentioned, we have approximately $176,000,000 on our balance sheet at the end of the first quarter and no debt.
And so active acquisitions for our business development program remains key to our success.
And how do we think about maybe building on that and building on your slide overview, how do we think about this is the ex COVID, obviously, because there's you have some real opportunities and obviously facing some pretty significant short term headwinds. To think about what the growth profile is now of Orish? Or maybe if you want to give us a flavor for the infectious disease business versus the molecular collection business? And how does that roll together to kind of into a total growth rate for the company? Roberto, you like to Will
do. Thanks, Dan. So as we've been describing, even before the COVID-nineteen epidemic, our goal is to grow at double digits across our franchises, both through organic growth and acquisition. For 2020, excluding COVID-nineteen, we've been expecting high teens growth for our global HIV franchise, strong growth from global HCV, stability in our risk assessment testing business ahead of seeking regulatory approval of a next generation product next year in 2021. And then in the molecular collection side of the business, we've been expecting triple digit growth from the microbiome services business in 2020.
And then outside of the largest customer and the royalty payer in our genomics business, we've been expecting double digit growth from molecular collection products. One of the pieces of our expectations that we described in our fourth quarter call was that our largest customer, we had renegotiated their minimum contract purchases with them, and we expect them to be buying at that minimum this year, which is about half of what they purchased last year. So overall, excluding COVID-nineteen, continued expectations for strong growth in both sides of the business, with infectious disease having a standout year this year with the HIV business, and molecular collections showing some solidity despite some disruptions that we experienced in 2019.
Great. And then and then and then more on, like, the COVID tactical, kind of a headwind issue. May maybe just speak to in terms of what kind of color you've given about customer impact as of the 1Q call? And has that changed at all in terms of customers' ability to be actually doing business? So maybe just walking through what was kind of quantified then and kind of how has that evolved as we sit here now on May 20?
Sure. Dan, it's an interesting landscape with COVID-nineteen. So let me share, some thoughts on that. COVID-nineteen, has had a mixed impact on our business, but it's important to note that any negative impact from COVID-nineteen in the first quarter was largely offset by additional product uptake in response to the pandemic. COVID-nineteen impact on our first quarter infectious disease business was muted.
The international infectious disease business was not impacted. Some parts of our domestic business began to see some impact in March. However, that was offset by strength in our in home testing business. That being said, we're seeing a more fulsome impact on our domestic business starting in the second quarter. We expect that will continue to the remaining quarters of 2020 as the professional HIV and HCV businesses experience delays or cancellation of testing programs.
We do expect those to come back after the pandemic, I should emphasize. We expect our international business to further stabilize as countries are beginning to open up to our HIV Self Test business as it plays an important role during the COVID-nineteen crisis. Excuse me. Sales of our in home HIV tests are rising as public health HIV testing programs in The U. S.
Are increasingly using our over the counter product as they adjust testing strategies in response to the pandemic. We're also seeing increased sales of our existing molecular saliva collection kits and oral swabs as some customers move from blood to saliva collection due to difficulties collecting blood samples under current circumstances. On the molecular side, revenues in our molecular sales to the academic market were impacted in the first quarter as molecular research programs have been delayed or terminated because of COVID-nineteen. And our services business revenue were also impacted as customers couldn't access samples housed in academic or medical facilities that were to be sent to our microbiome services lab for processing. We see these trends continuing with likely bigger impact in future quarters.
But importantly, we anticipate that these revenues will return to more normal levels once COVID-nineteen resolves. Assuming we're successful in developing in our development excuse me, regulatory efforts, we anticipate that the new coronavirus testing products that we're working on, and the expanded use of some existing Molecular Collections products could make significant contributions later this year, especially as the need for COVID-nineteen testing increases. As I mentioned in the outset, there's a potential for our work in COVID-nineteen to continue to offset some of downturn in revenues in the other business areas. So overall, we are net positive on the effect of COVID-nineteen in spite of some of the headwinds. There are many tailwinds that we think we can tap into.
Great. Thank you for that, Steve. Maybe just one quick, follow-up there, and then we'll speak about, your opportunities here with the two tests that you outlined, and so there's a lot of excitement over that. But just on the academic labs, I mean, do you what's kind of your base assumption there in terms of how those lab how those customers come back online?
Yeah, sure. So sales to our academic customers, as I said, were negatively impacted by the pandemic. That's because those customers experienced delays in research activities which are not associated with COVID-nineteen testing. That affected sales of our genomics, microbiome, and urine collection kits in the academic market. We also saw some delays in lab services as some of the academic customers had limited access, as I mentioned, to the microbiome samples due to the pandemic restrictions.
But looking ahead, we see meaningful impact to our academic revenues in the second quarter with most research activities not associated with the response to COVID-nineteen testing continue to be delayed or on hold. But we remain confident that both our genomics business and the disease risk management submarket and the microbiome market will return to double digit annual growth rates after the pandemic.
Okay. So maybe staying on COVID for a bit, obviously two exciting opportunities with some arguably differentiated offerings, although certainly a lot of global companies in the space going after. Maybe just starting with, I guess, the, antigen rapid in home self test. Kind of walk us through a little bit about what you think the opportunity for that test is and how you think it will be positioned? And then we can get into a little bit on the timing for it.
Certainly. So there's no question that there's a need for more overall testing capacity, whether those tests are PCR based or as you mentioned antigen based. Know, we currently run on the diagnostic side 10,000,000 tests since the COVID crisis started in The U. S. But most public health experts say we should be in a position to process millions of tests per day to identify those who are infectious.
So we look at that as an opportunity for our base platform, the OrkWake rapid test platform, which in itself is fairly disruptive to the current testing environment. And we believe that will help fill a gap and help open the country safely and quickly. So that's the area that our rapid antigen in home self test can play. I want to emphasize, Dan, we have great experience in meeting the needs of those types of demands. As we shared in our earnings call a couple weeks ago, in the first quarter of twenty twenty we shipped 2,000,000 HIV self tests.
And in the fourth quarter of twenty nineteen we shared that we shipped 2,900,000 HIV self tests. That's just an indication of the scale that we operate in. It's not an indication that we would take volume from HIV self tests. We hope we don't have to do that. Beyond that, in our internal manufacturing capacity we're exploring a number of options including public private film private partnerships, contract manufacturing, and out licensing the technology to meet what we believe to be high demand for large scale.
And by the way, should mention unrelated to the antigen in home self test under development, the same goes for our molecular collection sample kits, which we project could be in high demand because they're used as alternatives to the nasopharyngeal and oropharyngeal swabs that are currently used and have experienced at some level some supply chain issues. So overall, we're looking at what could be massive increases in capacity across the corporation, certainly in preparation for the launch of the antigen in home self test in September. And then on an ongoing basis, the molecular sampling kits, which feed the PCR tests.
Got it. And in terms of when we think about that, you know, this test, what would you expect to be the accuracy We've heard mixed things. I've read a couple of papers saying that saliva could be more accurate. I've spoke to some other experts who think saliva is less accurate.
Like, is there any trade off use saliva, for this particular, virus?
Well, of course, we've been in the saliva game, virtually for our entire corporate existence. Originally, we had to prove equivalency between the use of blood versus the use of, saliva and oral fluids for HIV testing. And I think we were able to rise to that challenge and prove that there that saliva and oral fluids provided tremendous accuracy in our oral quick HIV platform. We have always been a company that is focused on quality, and accuracy. So high specificity and high sensitivity have been, part of our overall brand.
And while we don't have the numbers yet developed, for the antigen at home self test, we believe that, we can get a highly sensitive and highly specific test in the marketplace that's not available today. The issue with, I think, accuracy with different types of analyte has a lot to do with how it's sampled initially. So there is variability in nasopharyngeal and oropharyngeal swabs. We've seen that. There are variabilities in some of the other nasal swabs that don't go quite as deep into the nasal cavity.
And I think those are all things that need to be accounted for. The benefits of saliva and oral fluids is that they're easy to collect. They are easily done by self collection, reliably by self collection, as we've proven for our work in the genomic area. So, you know, we are very optimistic of our chances to again demonstrate that saliva and oral fluids are worthy analytes for COVID-nineteen.
Got it. And what would be the turnaround time for a test like this?
We believe it would be similar to our OraQuick HIV platform and our OraQuick Ebola platform, which we launched in twenty fifteen-sixteen. And that is the individual can get a result in under an hour. For those two tests that I mentioned, it's closer to thirty minutes. So it's a self test for which an individual can determine the results in under an hour.
And in terms of you mentioned working with, I believe, public and private partnership. Is this maybe can you speak to a little bit about planned capacity? You talked about the capacity you did in q one and and and kind of q four on the HIV side. But related to that, you said you're looking to real significant capacity. So assuming this goes as planned and and and you're ready to go by September, what kind of capacity would you have in place?
And are you building out capacity now given you want to accommodate your existing business? And how this public private partnership come into play?
Well, I think that there are aspects of the public private partnership which have proven that we can develop scale for testing for other pandemics, like the global eradication of HIV. And so the players, who are addressing the global pandemic due to COVID-nineteen have all proven together that they can work closely together for HIV. So there are many of the same players there. In terms of capacity, this is a unique situation where we are, doing product development and scale up simultaneously in the hopes that we will, build capacity, for the product launch, which is targeted for emergency use authorization from the FDA in the September timeframe. So we haven't disclosed yet the specific internal capacity that we're looking at.
But we hope that to be significant. And we'll disclose that I think at the appropriate time. But we're also looking at the outside. Contract manufacturers, manufacturing partnerships, and possibly even licensing our technology for massive scale up. So there are a lot of discussions and plans going on as we speak right now to address what we believe will be significant demand for that product.
And any sense on how you would think about the market to play out? Like there's a lot of obviously tremendous convenience Mhmm. With with this approach as opposed to having to rely upon going to a hospital or even, you know, as the rapid tests roll out even in a minute clinic. Is there any predicates, whether it be, for HIV or for flu or things like that, where you could speak to how significant this potential opportunity would be in the grand scheme of the overall testing? I don't know if you have any kind of insight on that that you could share.
Sure, Dan. So as a reminder, our, OraSure, OraQuick, HIV in home test is the only infectious disease test that's FDA approved to be sold in The U. S. Without a prescription. So you can buy it at retail pharmacies.
You can buy it online. And our aiming point for the COVID-nineteen antigen in home self test is a test that can be widely available without prescription. Which is not to say that it won't be used, by medical professionals. I believe it will be as well. But the concept here is to have a test that can be as widely available as possible to reach as many people as quickly as possible.
And so that's why our aiming point is this in home self test concept. I think if you look at what will be required to reopen states and large parts of the countries to large parts of the world, the requirement will be to be able to test a lot of people quickly, determine whether they are currently infectious. And that is whether or not they are symptomatic or non symptomatic. And I think, a lot of the pandemic has been spread, because of asymptomatic transmission. So how do you do that?
Well, it would be great if you could have a way that didn't rely on instrumentation and the waiting time for lab tests to be able to test people even before they enter your facility. Whether your facility is a factory or an office place, know, someplace where the employer needs to ensure the safety and well-being of those coming in and out of the building. Whether it's schools, K-twelve, community colleges, universities, anywhere where there are large gatherings of people. And then there's a public health component as well, to be able to link this with contact tracing and to for people in the public arena to be able to determine whether there are new outbreaks, a second wave that's been projected, etcetera. All of these things will be necessary even with what we hope are quick developments on the vaccine side.
So I think the way we see the market opportunities is that hopefully a vaccine will be with us sooner rather than later. But even so, the ability to scale up the vaccine for large portions of the population will still in the interim require lots of testing. And we believe that this antigen in home self test, as BARDA said when they awarded us the contract last month, could be a game changer. So we fortunately have experience along all those channels. Self test that can be purchased by the individual at retail pharmacies and online, all the way to public health, hospitals, physicians, and global public health, where we sell our HIV self test to ministries of health in individual countries, particularly low and middle income countries.
And so I think few companies have the experience that OraSure has in rapidly deploying a test for widespread use in a pandemic. And so those are the skills and capabilities we bring to this COVID-nineteen Anti Stranding at Home Self Test opportunity.
That was really helpful. Maybe just one follow-up. Was reading something online about another, saliva approach. Would there be an expectation that whether with, say, like a negative test that there needs to be a confirmatory real time PCR test done? Or would you expect your test to be kind of one and done, whether it's positive or negative?
Well, ultimately, we would hope that an antigen test would be highly specific and highly sensitive so that you didn't need a confirmation test. But that does remain a possibility. So it will all be determined, I think, by the specificity and sensitivity of our tests. Once we announce that, I think we'll be able to better speak to what the testing regimes could be.
Got it. But there's certainly a reasonable expectation or potential that given given what you just said in terms of the history working, you know, with your other tests that this test could be kind of absolute in terms of its measurement, you're not gonna need to confirm. That's certainly a reasonable, plausible outcome.
Yeah. We have a history of setting the bar high terms of quality performance and accuracy. So that's that's the tradition we hope to bring to, this antigen at home self test.
Got it. And September is I mean, that is there a cushion in September? Is there a probability or potentially you can come up? I mean, I'm sure you'd love to be there tomorrow, so it's not that far away, but it still is four months away. I'm just wondering if there's a potential, for that to come faster.
Right now, we're on schedule for September, we have not made any announcement that changes that. But if that happens, we certainly will let everyone know. But right now, it is looking like September.
Got it. And then maybe one more step to the capacity issue. So while while you say that when you have information, is there any way at least to give us any flavor on capacity? I mean, could we look at what you're doing with your, you know, with your HIV self test and say that's, like, a reasonable starting point. I mean, you know, you leave it to yourself, and I think it's well understood that the market so far, only a small amount of testing has been done.
It's ramping, but there could just be a significant amount more of testing that needs to get done. So are there are there you know, have you given any color at all or guideposts about, you know, kind of a range of outcomes?
You know, we we haven't yet, Dan. And and at the appropriate time, we we certainly we certainly can if if provided we have the data. But, you know, we're a company that operates in terms of tens of millions of tests per year based on our OraQuick platform. So that's our starting point. So I think, you know, few companies have that as a starting point to begin look at planning.
But then we're looking at conceivably numbers that are several order of magnitude above that as well, which is why the focus not only on our internal capacity but contract manufacturing and manufacturing partnerships as well.
Got it. And then and then and then just just on the ELISA test then. So that you expect EUA expected this summer initial product sales. Like, how do you characterize the opportunity actually maybe one more back on the antigen test. What would we expect for pricing there?
Yes, we haven't yet announced what pricing will be. But that process I think is something we have experience with, of course. The number of channels I mentioned before, everything from the over the counter tests to global public health. So I think our experience with HIV across the world in The U. S.
And abroad will be very instructive. We have a unique set of experiences on pricing because, as I said, we have both professional and over the counter products sold in The U. S. As well as products designed for global public health as a self test. So we're going to put all that together into our pricing model, but we're not ready to announce that as yet.
Got it. Okay, okay. Fine. And then in terms of the ELISA test, your grade volume testing
So the oral fluid based ELISA test, which we have targeted for debut with an EUA in early summer, is based on our platform for oral fluid collection and microtiter plate rapid throughput lab tests. That's the same platform we use for our substance abuse testing business. And in fact, the demand for this COVID-nineteen antibody test has really come from those customers. So this would be, I believe, the first oral fluid based antibody test that would debut in the marketplace. And the collection devices we use for that are called our Oresure collection device.
And we believe it has some unique characteristics to be able to stabilize antibodies in the oral fluid for analysis. So that in itself would be a breakthrough. And then the microtiter plate ELISA test that we're working on would be designed to show the spectrum of immunity. We're looking at not only IgM and IgA, but I'll excuse me, not only IgM and IgG as the fractions for the antibodies, but also IgA. And there's been some recent scientific information about the use of mucosal IgA in determining early immunity towards COVID-nineteen.
So that's an area that links well with our oral fluid collection device capabilities. So this could also be a breakthrough type of assay in the antibody area.
Got it. And that in terms of there's a lot more discrepancy or uncertainty I think on just the level of performance maybe of serology tests, you know, you just alluded to it with the different antibodies that are being targeted and then kinda where you know, what antigen's being targeted, I guess. So can you speak to so so so you're saying expected initial product sales in EUA expected this summer. So I'm sorry. You're filing or you expect the approval by this summer?
Sorry about that. A. And then b, any any color about, when you're competing with the Roche and the Beckmans and these extremely large companies running big trials, how would you expect the performance of your test to compare to some of these bigger lab based players?
So we are targeting early summer for both approval and initial sales. So that's one answer to your questions. We do not yet know what the performance profile will be for our product, but we are targeting high sensitivity and high specificity. You know, I think a lot of the issues with serology and antibody testing revolves more around rapid tests than do about the lab based tests. The microtiter plate tests tend to be highly accurate.
How they will compare to other tests in the marketplace remains to be seen. But I would again emphasize that the analyte for our antibody tests is oral fluids, which I think is an area that's not being actively pursued by a lot of the big players right now. If those players are interested in oral fluids rather than blood as the analyte, our Oresure collection device I think could be an easy drop in solution for them. And in fact, we're investigating capacity increases for that product line as well in response to what might be high demand for that antibody test and other antibody tests as well.
This test as well would be shipped directly? I mean, how would how would consumers get the serology test?
Right. So this would be a lab based test, and so they would have to have the the lab based test ordered, right now by a physician.
Got it. And and and do you have a big presence in labs today? Like what's your kind of installed base on this microtiter? I'm just not familiar with always view OraSure to be like direct to consumer largely. So what's your current position with this type of approach?
We don't talk about it as much as we probably should. But, you know, we are one of the leaders in substance abuse testing using oral fluids. And so that's the installed base that we would look at for these tests. These labs primarily do business for either employers or insurance companies who are testing individuals to make sure that they don't have traces of drugs of abuse in their system, either when they start their job or whether they're looking to be insured for any particular purpose. And I think we announced in previous quarters that we're pursuing for that segment of our business additional revenue opportunities because SAMHSA, which is the governing body for drug testing, last year approved the use of oral fluids as well as urine for drugs of abuse.
And so this area of oral fluid testing for drugs of abuse is our pivot point into oral fluid testing for antibodies. And so we have a fairly large presence in that area, even though we're primarily known, as you said, as a rapid test on the infectious disease side.
Thank you. And here I know like the competitors have announced tens and hundreds of millions of capacity of tests. So just absolutely massive what they've discussed, some of these big, big players up to that much, obviously. And any like how significant level of capacity would you be able to achieve, you think, with this?
Well, you know, we are very well aware that antibody testing will be a high throughput business. And so while we haven't quantified it, we are looking at significantly high numbers to produce the OraSure collection device, which could be coupled to any of those tests in addition to ours. So that with other capacity we haven't detailed, but we certainly can and will at the appropriate time.
Right. Okay. So it's not hard for a customer you're saying it's not hard to take an existing ELISA instrument from one of these big players and switch the matrix from blood to saliva? Like that is not a difficult adaption?
Well, that's something that each test manufacturer will have to assess. But it's something that I think that they would want to explore quickly. So we are seeing interest in that area.
Got it. Okay. I know we spent the majority of the time We opened up with with with with your positioning. Obviously, we spent almost the entire time kind of on COVID. We didn't we didn't kinda dig in another aspect of Maybe maybe if I can ask you a question on on kind of molecular collections.
I mean, you talked about your largest customer, which was a real boon for you back in the day, and now it's kind of hopefully normalizing here. But kind of what can you say about the genealogy market now? So it sounds like the volume in 2020 is expected to be half of what it was in 2019 at least from that one customer. Just maybe speak about that customer and then more broadly that business being kind of ex COVID, if you will.
Certainly. So I think because our molecular collection kits for saliva and oral fluids preserve RNA and DNA so well, and remember that these kits were used to preserve DNA at room temperature for several years. So it's that type of stability which has made it attractive for COVID-nineteen. But beyond COVID-nineteen, the use of these collection kits in the genomics area, we still believe will be double digit potential as we focus on what we call the disease risk management part of the market. And that's in contrast to what we call the little a ancestry segment of the market, is simply looking at your genealogy.
So in the more serious medical application areas, which typically provides need, has a need for a medical professional to intervene either a doctor or a genetic counselor. These are the more serious parts of medical applications which look at genetic disposition to diseases like cancer. And so our kits have been used by customers in that area, either in specific individual cases or in population studies. So that area we project to grow beyond the current size of the ancestry market in about three to five years from now, factoring the delay from the pandemic. So our prospects I think on the molecular collection side plus our microbiome and microbiome services area makes the molecular part of our business extremely healthy and resilient after COVID-nineteen.
Great. Well, think with that, Steve, we're out of time, Roberto. Thanks for the questions, and thanks for participating in the really appreciate it. Good luck with, obviously, everything you're doing, in particular, on the COVID testing. Sounds like it could be really exciting and really impactful.
So thanks again for being here.
Thank you, Dan. We appreciate it. Thanks for having us at this conference.
Okay. Take care. Take care.