Welcome to our dedicated page for Exact Sciences news (Ticker: EXAS), a resource for investors and traders seeking the latest updates and insights on Exact Sciences stock.
Exact Sciences Corp (symbol: EXAS) is a leading molecular diagnostics company based in Madison, Wisconsin. The company specializes in providing innovative cancer screening and diagnostic test products, both in the United States and internationally. One of the company's flagship products is Cologuard, a groundbreaking noninvasive stool-based DNA test that screens for colorectal cancer. This test is integrated into the colorectal cancer screening guidelines of the American Cancer Society and the U.S. Multi-Society Task Force on Colorectal Cancer.
Exact Sciences is also making significant strides in the field of precision oncology. Their Oncotype DX suite includes tissue-based genomic tests that help estimate the risk of cancer recurrence and the likelihood of benefit from chemotherapy for breast and colon cancer patients. Additionally, the OncoExTra test offers comprehensive genomic profiling through a liquid biopsy, providing valuable insights for personalized cancer treatment.
In addition to these established products, Exact Sciences is actively developing new liquid biopsy tests for molecular residual disease, colorectal cancer screening, and multicancer screening. These ongoing projects reflect the company's commitment to advancing cancer diagnostics and improving patient outcomes.
The company's intellectual property portfolio is robust, with exclusive rights protecting its proprietary non-invasive molecular screening technology. This strong IP position underscores Exact Sciences' leadership and innovation in the cancer diagnostics market.
- Headquartered in Madison, Wisconsin
- Specializes in cancer screening and diagnostic tests
- Flagship product: Cologuard, a noninvasive colorectal cancer screening test
- Precision oncology products: Oncotype DX and OncoExTra
- Active development of liquid biopsy tests
- Exclusive intellectual property rights protecting screening technology
For more information on Exact Sciences' noninvasive colon cancer screening test, visit cologuardtest.com.
Exact Sciences Corporation (Nasdaq: EXAS) announced a registered direct offering of 8,605,483 shares at $101.00 per share, generating approximately $869.2 million in gross proceeds. The company plans to utilize the net proceeds of about $866.0 million for general corporate purposes, including debt repayment and the acquisition of Thrive Earlier Detection Corp.. The offering will close on or about October 29, 2020.
Exact Sciences Corp. (Nasdaq: EXAS) reported third-quarter revenue of $408.4 million for the period ending September 30, 2020, up from $218.8 million in 2019. Despite a 2% decrease in screening revenue at $214.6 million, they achieved $102.2 million from COVID-19 testing. The company faced a net loss of $219.9 million or $1.46 per share, a significant increase from the previous year. Gross margin was 72%, while adjusted EBITDA was $94.5 million. The company retained $1.3 billion in cash and equivalents, indicating robust liquidity.
Exact Sciences Corp. (Nasdaq: EXAS) announced its agreement to acquire Thrive Earlier Detection Corp. for up to $2.15 billion in cash and stock. This transaction, approved by both companies' boards, is expected to close in Q1 2021, pending regulatory approvals. The acquisition aims to combine Thrive's CancerSEEK test with Exact Sciences' platform, enhancing blood-based multi-cancer screening capabilities. The merger is projected to strengthen Exact Sciences' position in the growing cancer diagnostics market, estimated at over $25 billion.
Exact Sciences Corp. (NASDAQ: EXAS) announced the launch of the Oncotype MAP™ Pan-Cancer Tissue test, aimed at patients with advanced, metastatic, refractory, or recurrent cancer. This test offers actionable insights from genomic alterations in hundreds of cancer-related genes, enabling tailored therapy recommendations. Key features include a rapid turnaround time of 3-5 business days, minimal tissue requirements, and a significant increase in progression-free survival rates. The test is available for physicians in the U.S. and is covered by Medicare for qualifying patients.
Exact Sciences Corp. (Nasdaq: EXAS) will release its third quarter 2020 financial results on October 29, 2020, after market close. A conference call will follow at 5 p.m. ET to discuss the results and business updates. The company continues to focus on cancer screening and diagnostic solutions, building on its Cologuard and Oncotype DX success. The press release also indicates that forward-looking statements regarding future results are subject to risks, including impacts from the COVID-19 pandemic on operations and product demand.
On September 17, 2020, Exact Sciences Corp. (Nasdaq: EXAS) announced its participation in the Cowen Liquid Biopsy Summit on September 24, 2020, at 10:30 a.m. EDT. Investors can access the event via a webcast on the company's investor relations page. Known for its innovative cancer screening solutions like Cologuard and Oncotype DX, Exact Sciences is committed to advancing diagnostic technologies. The company faces uncertainties related to the COVID-19 pandemic but continues to invest in improving patient care and expanding its product pipeline.
Exact Sciences Corp. (Nasdaq: EXAS) announced its participation in the Baird Global Healthcare Conference on September 9, 2020, at 2:00 p.m. EDT. Investors can join the event via webcast, accessible through the company's investor relations section on their website. Exact Sciences is a leader in cancer screening and diagnostic tests, known for innovations like Cologuard and Oncotype DX. The company is committed to advancing cancer care with ongoing investments in its product pipeline.
Exact Sciences Corp. (Nasdaq: EXAS) announces participation in the Canaccord Genuity Annual Growth Conference on August 12, 2020, at 2:30 p.m. EDT, inviting investors to join via webcast. The event aims to provide insights into the company's cancer screening and diagnostic innovations, including Cologuard and Oncotype DX. Exact Sciences is committed to improving patient care through ongoing product development and strategic partnerships, notably with Pfizer. The webcast will be accessible on their investor relations website.
Exact Sciences Corp. (Nasdaq: EXAS) reported a revenue of $268.9 million for Q2 2020, up from $199.9 million in Q2 2019. The company’s screening revenue fell 34% to $131.3 million, while Precision Oncology revenue reached $103.0 million. COVID-19 testing contributed $34.6 million. The gross margin stood at 63%, with a net loss of $86.1 million, or $0.58 per share. Despite challenges, the CEO highlighted the role of Cologuard in addressing missed cancer screenings during the pandemic.
Exact Sciences Corp. (Nasdaq: EXAS) announced its virtual annual stockholders meeting and second quarter 2020 earnings call. The meeting is scheduled for July 23, 2020, at 11 a.m. ET. The second quarter earnings release will occur on July 30, 2020, after U.S. market close, followed by a conference call at 5 p.m. ET. Investors can access the live webcasts and archives via the company's website. Exact Sciences focuses on cancer screening and diagnostics, with products like Cologuard and Oncotype DX.
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