Exact Sciences Corp - EXAS STOCK NEWS

Exact Sciences reported Q3 2024 total revenue of $709 million, up 13% year-over-year, with Screening revenue of $545 million (+15%) and Precision Oncology revenue of $164 million (+5%). Despite recording a net loss of $38 million, the company achieved an adjusted EBITDA of $99 million with a 14% margin, representing a 500 basis point improvement. Operating cash flow reached $139 million with free cash flow of $113 million. Notable developments include FDA approval for Cologuard Plus™ test and promising results from their blood-based colorectal cancer screening test. However, the company revised down its full-year 2024 guidance for both revenue and adjusted EBITDA.

Exact Sciences (Nasdaq: EXAS), a leader in cancer screening and diagnostic tests, has announced its upcoming participation in the Jefferies London Healthcare Conference. The company will host a fireside chat on Tuesday, November 19, 2024 at 6:00 a.m. ET in London. Investors can access the webcast through the investor relations section of Exact Sciences' website.

Exact Sciences (NASDAQ: EXAS) will present modeling data at the American College of Gastroenterology Annual Meeting showcasing the Cologuard Plus™ test's effectiveness in colorectal cancer screening. The modeling data demonstrates that Cologuard Plus delivers the highest life-years gained with fewer colonoscopies among noninvasive screening strategies. The company will also present seven abstracts focusing on improving screening adherence rates, particularly in underserved populations. Studies show high adherence rates of 71.2% across insured individuals, with Spanish language support achieving 76.7% adherence. Implementation of reported strategies could potentially reduce the CRC screening gap by up to 10%.

Exact Sciences Corp. (Nasdaq: EXAS), a leading provider of cancer screening and diagnostic tests, has announced its plans to release third quarter 2024 financial results after the close of U.S. financial markets on November 5, 2024. Following the release, the company will host a webcast and conference call at 5 p.m. ET to discuss financial results and business progress.

The live webcast can be accessed at www.exactsciences.com. For telephone access, domestic callers should dial 888-330-2384, while international callers should dial +1 240-789-2701. The access code for both is 4437608. A replay of the webcast will be available on the company's website. The event is open to all interested parties.

Exact Sciences Corp. (NASDAQ: EXAS) announced FDA approval for its Cologuard Plus™ test, a next-generation multitarget stool DNA test for colorectal cancer (CRC) screening. The test is approved for adults 45 and older at average risk for CRC. Key highlights:

1. 95% overall cancer sensitivity and 43% sensitivity for advanced precancerous lesions at 94% specificity
2. Significantly outperformed fecal immunochemical test (FIT) in various sensitivity measures
3. Expected launch in 2025 with Medicare coverage and guideline inclusion
4. Builds on success of original Cologuard test, used over 17 million times

The company aims to improve CRC screening rates and outcomes by detecting cancer early and finding advanced precancers.

Exact Sciences Corp. (NASDAQ: EXAS) presented performance data for its blood-based colorectal cancer (CRC) screening test at the ESMO Congress. The test showed sensitivities of 88.3% for CRC and 31.2% for advanced precancerous lesions at 90.1% specificity. The study included over 3,000 blood samples, with most from the BLUE-C study.

The company aims to close the screening gap through innovation, combining a novel panel of markers. BLUE-C results are now expected in the first half of 2025, which will support an FDA submission. If approved, this test could provide another option for 60 million unscreened people in the US.

Exact Sciences also presented data on its multi-cancer early detection (MCED) blood test, showing 54.8% sensitivity at 98.5% specificity for cancers without standard screening options, and 63.7% for six aggressive cancers.

Exact Sciences Corp. (Nasdaq: EXAS), a leading cancer screening and diagnostic test provider, has announced its participation in two upcoming investor conferences. The company will be present at the Wells Fargo Healthcare Conference in Boston on September 4, 2024, with a fireside chat scheduled for 3:45 p.m. ET. Additionally, Exact Sciences will participate in the Baird Global Healthcare Conference in New York on September 11, 2024, with a fireside chat at 10:15 a.m. ET.

Investors are invited to join the webcasts of these events, which will be accessible through the investor relations section of Exact Sciences' website at www.exactsciences.com. These conferences provide an opportunity for the company to engage with investors and share insights into its operations and future prospects in the healthcare sector.

Exact Sciences Corp. (Nasdaq: EXAS) has initiated its Multi-Cancer Early Detection (MCED) Falcon Registry Real-World Evidence study, enrolling the first patient at Baylor Scott & White Health in Texas. The study aims to enroll up to 25,000 patients aged 50-80 with no cancer history, evaluating the clinical performance and impact of MCED testing over a five-year period. Endeavor Health in Illinois will also participate, starting enrollments this fall.

The study, authorized by the FDA under an investigational device exemption, will provide insights for developing Exact Sciences' future MCED test. Participants will undergo annual MCED testing for three years, followed by two years of follow-up data collection. The test combines two high-performing biomarker classes to detect cancer early, potentially addressing the gap in existing screening programs and aligning with the U.S. government's Cancer Moonshot initiative to reduce cancer mortality by 50% over 25 years.

Exact Sciences Corp. (Nasdaq: EXAS) has shared new modeling data on the impact of their Cologuard test for colorectal cancer (CRC) screening over the past decade. The data reveals that:

- Over 16 million Cologuard screenings have been completed
- 525,000 people with advanced precancerous lesions were detected
- 80% of cancers detected were early-stage
- An estimated $22 billion in healthcare costs have been saved

The Cologuard test has contributed significantly to increasing CRC screening rates from 63% in 2015 to 72% in 2021 among Americans ages 50-75. It has also tripled screening rates for ages 45-49 from 2021 to 2023. Exact Sciences is currently awaiting FDA review for their next-generation Cologuard test, aiming to further improve CRC screening accuracy and accessibility.