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
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