Exact Sciences Corp - EXAS STOCK NEWS

Exact Sciences Corp. (EXAS) reported strong Q2 2024 results, with total revenue of $699 million, up 12% year-over-year. Screening revenue increased 15% to $532 million, while Precision Oncology revenue grew 7% to $168 million. The company screened over 1 million people with Cologuard for the first time in a quarter. Despite the revenue growth, Exact Sciences reported a net loss of $16 million, or $0.09 per share, which is an improvement from the previous year. Adjusted EBITDA rose to $110 million, with a margin of 16%. The company maintained its full-year 2024 revenue guidance and raised its adjusted EBITDA guidance midpoint by $8 million.

Imperative Care, a medical technology company focused on stroke and ischemic diseases, has announced the initial closing of an oversubscribed Series E financing led by Ally Bridge Group. The financing, which may raise up to $150 million in total, includes participation from existing and new investors. The funds will support the company's hypergrowth strategy and investment in novel technologies and clinical evidence.

Additionally, Shacey Petrovic has been appointed to the newly created position of Vice Chair of the Board of Directors. Petrovic, who joined the board in 2023, will focus on scaling strategies to bring life-changing technologies to more patients. She previously served as President and CEO of Insulet and currently sits on the boards of Exact Sciences (EXAS), Ambu A/S, and Axena Health.

Exact Sciences, a leading cancer screening and diagnostic tests provider, will release its second quarter 2024 financial results after U.S. market close on July 31, 2024.

A webcast and conference call to discuss these results is scheduled for 5 p.m. ET the same day. The webcast will be accessible on the company's website, with domestic and international dial-in options available. A replay will also be offered on the website.

Exact Sciences, a key player in cancer screening and diagnostics, announced its participation in major investor conferences this June. The company will present at the William Blair 44th Annual Growth Stock Conference in Chicago on June 4, 2024, at 1:40 p.m. ET. They will also hold a fireside chat at the Jefferies Healthcare Conference in New York on June 5, 2024, at 11:00 a.m. ET, and another at the Goldman Sachs 45th Annual Global Healthcare Conference in Miami on June 11, 2024, at 3:20 p.m. ET. Investors can join these events via webcast accessible through Exact Sciences' investor relations website.

Exact Sciences, a leader in cancer screening and diagnostics, will present 10 abstracts at the ASCO Annual Meeting from May 31 to June 4, 2024. Key presentations will highlight the predictive and prognostic value of the Oncotype DX Breast Recurrence Score test across diverse racial and ethnic groups. Studies confirm that the test predicts breast cancer survival and chemotherapy benefits, even in lymph node-negative patients. Additional data will showcase Exact Sciences' efforts in multi-cancer early detection (MCED) and optimized screening adherence strategies for the Cologuard test, demonstrating high adherence rates and early detection benefits. Dr. Rick Baehner emphasized the company's commitment to developing accessible, high-quality diagnostic tools to improve patient outcomes.

Presentations include data from over 171,000 patients showing that the Recurrence Score is predictive of chemotherapy benefit, particularly in non-Hispanic Black patients with higher scores. Furthermore, MCED testing showed a significant reduction in late-stage diagnoses. Real-world evidence indicates high adherence to the Cologuard test, with digital outreach enhancing screening completion rates.

Exact Sciences (NASDAQ: EXAS) has secured the 2024 Great Place To Work® certification, marking the sixth consecutive year of achieving this distinction. This certification is based on a confidential survey of U.S.-based employees, with 85% affirming it as a great workplace, significantly higher than the national average. The recognition underscores the company's commitment to fostering a positive work environment characterized by integrity, teamwork, and innovation. Sarah Condella, EVP of Human Resources, attributes this achievement to the dedication and commitment of the team. The Great Place To Work certification is a testament to the company's efforts in employee retention and innovation, driven by a culture of trust, respect, and collaboration.

Exact Sciences Corp. (Nasdaq: EXAS) announced that a judge has denied part of Geneoscopy's motion to dismiss a patent infringement lawsuit. This ruling allows Exact Sciences to move forward with its claims of patent infringement and false advertising. The lawsuit, first filed in November 2023, aims to protect Exact Sciences' Cologuard colorectal cancer screening test from Geneoscopy's alleged infringement and misleading advertising of its ColoSense test. A second complaint was filed by Exact Sciences in May 2024, asserting a new patent related to their sample collection technologies. The company expects the new case to follow a similar timeline to the existing one.

Exact Sciences Corp. (Nasdaq: EXAS) reported first-quarter 2024 revenue of $638 million, a 6% increase from the previous year. The company highlighted revenue growth in both Screening and Precision Oncology segments. Exact Sciences also published positive test results in The New England Journal of Medicine and maintained full-year revenue guidance. Despite revenue growth, the company reported a net loss and negative EBITDA for the quarter.

Exact Sciences Corp. (EXAS) presented six abstracts at Digestive Disease Week 2024, focusing on improving colorectal cancer screening rates. The company showcased data on Cologuard®, a non-invasive screening test, and the upcoming Cologuard Plus™. These advancements aim to enhance patient outcomes by emphasizing effective detection rates and user convenience. The research can potentially address the critical gap in colorectal cancer screening in the U.S.