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Exact Sciences Corp. (EXAS) Targeting Colorectal Cancer through Commercialization of Cologuard
According to a report by the American Cancer Society, approximately 25 percent of the estimated 580,000 cancer-related deaths in 2013 were the result of gastrointestinal or digestive cancers. Exact Sciences Corp. (NASDAQ: EXAS), through the continued development and commercialization of Cologuard and related products, is committed to playing a role in substantially reducing this figure moving forward by targeting the complete eradication of colorectal cancer.
Approved by the FDA in August 2014, Cologuard is the first noninvasive screening test for colorectal cancer that analyzes both stool DNA and blood biomarkers. In a 10,000-patient clinical study, the company’s revolutionary test effectively diagnosed 92 percent of colon cancers and 69 percent of the most advanced precancerous polyps in average risk patients. Because of this accurate cancer detection ability, Cologuard is currently included in the colorectal cancer screening guidelines of the American Cancer Society.
During the first quarter of 2015, Exact Sciences recorded strong growth for Cologuard, providing the company with a formidable platform for sustained increases in market share moving forward. In the period, 11,000 Cologuard tests were completed and the number of ordering physicians increased from 4,100 at the end of 2014 to 8,300 in the first three months of 2015. The company also expanded its sales team by 75 percent in order to promote continued development of the test’s existing physician network and commercial insurance coverage options.
“We are pleased with the strong launch trajectory of Cologuard,” Kevin Conroy, chairman and chief executive officer of Exact Sciences, stated in a news release. “Demand among patients and physicians and acceptance among commercial insurers is accelerating.”
Since the initial commercialization of Cologuard, Exact Sciences has recorded drastically amplified financial results. In the first quarter of 2015, the company reported total revenues of $4.3 million, a $4 million increase over the same period in 2014. In the coming months, the company will look to build on this development through persistent progress in expanding the test’s utilization rates.
For prospective shareholders, the early market success of Cologuard, as well as the company’s ongoing development of diagnostic tools targeting esophageal, pancreatic and lung cancers, makes Exact Sciences an intriguing investment opportunity moving forward.
For more information, visit www.exactsciences.com
