Exact Sciences Corp - EXAS STOCK NEWS

Exact Sciences Corp. (Nasdaq: EXAS) announced a transaction on February 23, 2023, involving the exchange of $500 million in new 2.00% Convertible Senior Notes due March 1, 2030, for existing convertible notes totaling approximately $384 million and $138 million in cash. The transaction is set to close on March 1, 2023. The new notes will have a semi-annual interest payment structure and can be converted into shares of common stock or cash, beginning September 1, 2023. The initial conversion price is about $80.83 per share, indicating a 25% premium over the previous closing price of $64.66.

Exact Sciences Corp. (Nasdaq: EXAS), a leader in cancer screening, announced its participation in key investor conferences in March 2023. The company will host fireside chats at:

• Citi's Healthcare Services Conference on March 1 at 2:45 p.m. ET in New York.
• Cowen Health Care Conference on March 6 at 10:30 a.m. ET in Boston.
• Raymond James Institutional Investors Conference on March 7 at 4:00 p.m. ET in Orlando.

Investors can access webcasts of the presentations on the Exact Sciences website. The company focuses on innovative cancer diagnostic solutions and is dedicated to improving patient outcomes.

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.