EXACT Sciences Corp (EXAS)

[Tdash]

(NASDAQ:EXAS) dropped 46 percent and closed at $9.98, compared to the previous day's close of $18.53. The company plummeted after an unanticipated guideline from United States Preventative Services Task Force (USPSTF) that identified Cologuard, the company's colorectal cancer diagnostic product, as an "alternative" screening method, while leaving the product out of a group of recommended tests.


Talking about the guideline, Ro said, "We previously anticipated an A or B rating for Cologuard, which would have paved a clear path for full reimbursement coverage from private insurance companies." He added, "However, USPSTF did not offer a rating for Cologuard and instead categorized it as one of two ‘alternative' screening strategies. We now enter a 30-day public comment period and anticipate more clarity in the months thereafter."