I just wish people would stop comparing GNOM to Illumina. They have a completely different business model and are NOT competetors. If you do not understand this, its bettter for you not to invest in either company because you don't know anything about the business models.
Just to dumb it down for people, Illumina sells the machines. They sell the platform technology to pharmaceutical companies and sequencing centers. Sequencing is not their only business. The DO NOT offer a genome sequenicng service. They organize a list of 3 genome centers where they can help you get sequencing services (the IGN or Illumina genome network). But this is NOT A SEQUENCING SERVICE. It is a list of other centers that they will put you in touch with. GNOM's business is purely about commoditizing the genome sequencing service, and they DO NOT sell their machines or technology.
Again, they are COMPLETELY DIFFERENT business models. GNOM has only one real competetor and that is BGI.
I work at a pharmaceutical company. I used to manage a DNA sequencing center. It costs FAR, FAR more to build and operate the center than it does to outsource the task to GNOM. Once the price hits the right sweet spot, big pharma will close down their own costly centers and outsource to GNOM. This will occur as an avalanche and WGS (whole genome sequencing) will explode is use (as a diagnostic for clinical trials for instance). People not in the field have no clue about this, and that is why the stock is so cheap. This needs 2 or 3 more years to play out. Buying this company at just a few cents over book value is a gift.