Exact Sciences Corp Stock Price, News & Analysis

Exact Sciences Corp. (Nasdaq: EXAS) reported a record fourth-quarter revenue of $553 million, marking a 17% increase, and $2,084 million for the full year 2022, an 18% increase. Excluding COVID-19 testing, fourth-quarter revenue grew by 28%. The company anticipates 2023 revenue between $2,265-$2,315 million. Notably, Screening revenue reached $404 million in Q4 2022, a 45% increase, while Precision Oncology revenue dropped 4% to $143 million. The net loss for the quarter was $127.7 million or $0.72 per share. Despite the losses, Exact Sciences reaffirmed its position with strong partnerships and innovative testing solutions.

Exact Sciences Corp. (NASDAQ: EXAS) has launched the OncoExTra™ test in the U.S., a next-generation sequencing (NGS) test that identifies DNA and RNA alterations in tumors. This test aims to guide personalized cancer treatments by providing comprehensive genomic information from approximately 20,000 genes. Key features include the identification of targetable mutations and immuno-oncology signatures, with Medicare coverage available. The OncoExTra test complements existing cancer diagnostics and aligns with updated ASCO guidelines recommending RNA-based testing. CEO Kevin Conroy highlighted the company’s commitment to enhancing patient care with innovative solutions.

Exact Sciences Corp. (NASDAQ: EXAS) has announced that it will release its fourth quarter 2022 financial results on February 21, 2023, after U.S. market close. A webcast and conference call will follow at 5 p.m. ET to discuss the results and ongoing business developments. Interested parties can access the live webcast on the company's website. The company is recognized for its cancer screening and diagnostic tests, including Cologuard and Oncotype, and continues to invest in its product pipeline to support patients throughout their cancer journey.

Exact Sciences Corp. (Nasdaq: EXAS) expects fourth quarter 2022 revenue to reach between $550.7 million and $552.7 million, marking a 28% increase, excluding COVID-19 testing. Key revenue components include Screening revenue of $401.8 million to $402.8 million, up 45%, and Precision Oncology revenue of $142.9 million to $143.9 million, down 4%. Adjusted EBITDA profitability is anticipated for Q4 2022 and full year 2023, advancing from prior forecasts.

Exact Sciences Corp. (Nasdaq: EXAS) announced its participation in the J.P. Morgan Healthcare Conference in San Francisco on January 9, 2023, at 2:15 p.m. ET. Investors are invited to participate via a webcast accessible on the company's investor relations website. Exact Sciences is dedicated to advancing cancer screening and diagnostics, building on its successful Cologuard® and Oncotype® tests. The company continues to invest in its product pipeline to enhance patient support throughout the cancer diagnosis and treatment process.

Exact Sciences Corp. (NASDAQ: EXAS) announced significant policy changes that enhance access to colorectal cancer screening. Effective January 1, 2023, Medicare and most commercial insurers will cover colonoscopy costs for patients with a positive Cologuard® test, alleviating financial burdens. Over 10 million Cologuard tests have been conducted since its 2014 launch. Experts state these changes will improve screening rates and health outcomes, especially among underserved populations. This initiative aligns with Affordable Care Act updates aimed at improving health accessibility.

Exact Sciences Corp. (NASDAQ: EXAS) has released initial clinical validation data for its breast cancer radiation signature, POLAR, at the 2022 San Antonio Breast Cancer Symposium. This meta-analysis from three clinical trials demonstrated that POLAR is the first genomic signature to predict the benefit of radiotherapy for early-stage breast cancer patients. About 25% of patients were identified as not benefiting from radiotherapy, addressing a crucial clinical need. The analysis included 623 patients, showing significant differences in local recurrence rates based on POLAR scores.

Exact Sciences Corp. (NASDAQ: EXAS) presented new data supporting its Precision Oncology portfolio at the 2022 San Antonio Breast Cancer Symposium (SABCS). Key highlights include results from the TAILORx and RxPONDER trials, demonstrating the Oncotype DX Breast Recurrence Score test's ability to identify patients who may not benefit from chemotherapy. A new investigational test for predicting radiotherapy benefits was also discussed. The findings reaffirm the use of genomic tests in guiding treatment decisions, potentially enhancing patient outcomes.

Exact Sciences Corp. (Nasdaq: EXAS) reported record revenue of $523 million for Q3 2022, marking a 15% increase from 2021. Excluding COVID-19 testing, revenue rose 20%, with Screening revenue at $361 million and Precision Oncology at $151 million. The company raised its full-year revenue guidance by $33 million and lowered operating expense guidance by $113 million. Expecting to reach adjusted EBITDA profitability by Q3 2023, Exact Sciences highlighted the strong performance and innovative potential of its cancer diagnostic tests.