Exact Sciences Corp Stock Price, News & Analysis

Exact Sciences Corp. (Nasdaq: EXAS) received approval from Japan's Ministry of Health, Labor and Welfare for the Oncotype DX Breast Recurrence Score Program. This test aids in chemotherapy treatment decisions for early-stage breast cancer patients. With over 90,000 new cases annually, this approval is crucial for Japanese patients. Exact Sciences aims to obtain coverage under Japan's universal healthcare system and plans to launch the test through its affiliate, Exact Sciences K.K. CEO Kevin Conroy emphasized that this approval marks a significant step in expanding access to advanced cancer tests.

Exact Sciences Corp. (Nasdaq: EXAS) announced the publication of its Oncoguard™ Liver liquid biopsy test performance in Clinical Gastroenterology and Hepatology. The test shows 82% sensitivity for early-stage hepatocellular carcinoma (HCC), with overall sensitivities of 88% and 87% specificity. An estimated 3 million Americans are eligible for HCC testing, but currently, only one in three at-risk patients receive it. Early detection significantly improves five-year survival rates from less than 12% to upwards of 70%.

Exact Sciences Corp. (EXAS) reported Q2 2021 revenue of $434.8 million, a 62% increase from Q2 2020's $268.9 million. Screening revenue rose 101% to $263.9 million, despite a one-time adjustment of $12.1 million. Precision Oncology revenue increased 34% to $137.8 million, while COVID-19 testing revenue decreased 4% to $33.1 million. The company anticipates annual revenue between $1.705 and $1.745 billion, adjusting prior estimates. However, it reported a net loss of $176.9 million ($1.03 per share).

Exact Sciences Corp. (Nasdaq: EXAS) will release its second-quarter 2021 financial results on July 28, 2021, after U.S. markets close. Following the release, a webcast and conference call will be held at 5 p.m. EDT to discuss the financial results and business progress. Interested parties can access the live webcast at Exact Sciences' website. The company is recognized for its cancer screening and diagnostic tests, including Cologuard and Oncotype tests, and continues to invest in its product pipeline to enhance cancer diagnosis and treatment.

Exact Sciences Corp. (Nasdaq: EXAS) announced participation in several upcoming virtual investor conferences. Management will engage in fireside chats at notable events including the William Blair 41st Annual Growth Stock Conference on June 1, Jefferies Virtual Healthcare Conference on June 2, and Goldman Sachs 42nd Annual Global Healthcare Conference on June 9. Another chat will occur at the Nephron Research Liquid Biopsy Innovation Symposium on June 16. Investors can access the webcasts in the investor relations section of Exact Sciences' website.

Exact Sciences Corp. (NASDAQ: EXAS) presented significant findings at the 2021 Digestive Disease Week, demonstrating that Cologuard is cost-effective in reducing colorectal cancer (CRC) incidence and mortality, outperforming traditional tests like FIT and FOBT. Data from a New Hampshire study indicated Cologuard's higher efficacy in predicting neoplasia owing to better detection of serrated polyps. Despite rising colorectal cancer rates among younger adults, 44 million average-risk individuals in the U.S. remain unscreened.

Exact Sciences Corp. (NASDAQ: EXAS) announced the presentation of new cancer diagnostics data at the 2021 ASCO Annual Meeting, scheduled for June 4-8. The company will showcase findings that support the Oncotype DX® tests and their role in personalized treatment decisions. Additionally, research from Thrive highlights the importance of a blood-based multi-cancer screening test in clinical care. The data presentations affirm Exact Sciences' commitment to enhancing cancer detection and treatment.

Exact Sciences (NASDAQ: EXAS) celebrates the USPSTF's recommendation for colorectal cancer screening to begin at age 45. Cologuard, their FDA-approved stool DNA test, is endorsed for average-risk patients aged 45-75. The recommendation addresses the increase in colorectal cancer incidence among younger adults. With 44 million eligible adults, Cologuard's inclusion in guidelines aims to enhance screening rates. It has successfully detected 92% of colorectal cancers in studies. This change could elevate healthcare provider discussions on screening options and expand Cologuard's market impact.

Exact Sciences Corp. reported first-quarter 2021 revenue of $402.1 million, up 16% from $347.8 million in Q1 2020. Screening revenue grew by 10% to $240.3 million, while Precision Oncology revenue increased by 1% to $129.4 million. COVID-19 testing contributed $32.3 million. The gross margin was 68%, with a non-GAAP gross margin of 73%. The income tax benefit was $242.8 million, leading to a net loss of $31.2 million, improved from $134.6 million in the prior year. The company forecasts full-year revenue between $1,690 million and $1,735 million.