Nov. 21 at 8:24 AM
📉 The Simple
$WGS Bear Case (by courtesy of AI)
$WGS lives in a tiny niche. If
$ILMN,
$TMO or
$A ever focused on clinical genomes, they could pressure pricing fast. The business model isn’t proven: whole-genome tests are expensive to run, slow to get reimbursed, and require lots of manual work.
TAM (Total Addressable Market) is likely smaller than bulls claim because most families never get approved for full-genome testing. Revenue also depends on a few big customers, so losing one hurts.
Cash burn today means possible dilution later. Their “moat” is shrinking as genome interpretation gets cheaper and easier for all labs. Their dataset isn’t unique enough to be a Google-style monopoly. And adoption is slow — each patient requires doctors, insurance, and clinical review.
They talk like SaaS (Software as a Service), but it’s really a medical lab. Genomics history is full of great science but terrible investor returns.
