Exact Sciences Corp - EXAS STOCK NEWS

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.

Exact Sciences Corp. will participate in the BofA Securities Health Care Conference in Las Vegas, with a fireside chat scheduled for May 15, 2024. Investors are invited to join the webcast available on the company's website.

Exact Sciences appoints Aaron Bloomer as new Chief Financial Officer, bringing over 15 years of finance and accounting experience from companies like Baxter International and 3M. Bloomer's global expertise in setting corporate strategy and driving growth will aid Exact Sciences in expanding its cancer screening and diagnostic tests portfolio.

Exact Sciences Corp. announced a $620.7 million exchange of Convertible Senior Notes, issuing new 1.75% Convertible Senior Notes due 2031. The transaction involves the retirement of $359.7 million Existing Notes and $266.8 million in cash. The New Notes mature on April 15, 2031, with an interest rate of 1.75% per year. Conversion options include cash, common stock, or a combination, with redemption possible after April 17, 2029, under certain conditions.

Exact Sciences Corp. presents groundbreaking data from ASCEND-2 study on multi-cancer early detection blood test at AACR 2024, showcasing high detection rates and specificity across various cancer types. The study affirms the potential of MCED tests to revolutionize cancer screening by identifying aggressive cancers and those lacking standard screening tests early on.