EXACT Sciences Corporation (NASDAQ: EXAS) is having an overwhelmingly strong start to the trading session in the pre-market hours this morning, and for good reason. The company announced that it has entered into an agreement with Pfizer Inc. (NYSE: PFE) surrounding its proprietary Cologuard cancer screening test. Of course, the news excited investors, sending the stock on a run for the top. Today, we’ll talk about:
- The collaboration;
- what we’re seeing from EXAS as a result; and
- what we’ll be watching for ahead.
EXAS Heads Up On Collaboration News
As mentioned above, Exact Sciences is having an incredibly strong start to the trading session after announcing an agreement signed with Pfizer. In a press release issued early this morning, the companies said that they have entered into an agreement through 2021 to co-promote Cologuard. Cologuard is the first and only FDA-approved non-invasive stool DNA screening test for colorectal cancer.
In the release, EXAS said that Pfizer representatives will join representatives of their own in reaching both physicians and health systems. The two parties will also work to extend and deepen the Cologuard marketing campaign. In a statement, Kevin Conroy, Chairman and CEO at EXAS, had the following to offer:
This partnership marks a turning point in the fight to end colorectal cancer… Pfizer is joining Exact Sciences’ mission of eradicating colorectal cancer by helping detect the disease at its earliest, most treatable stages. Together we can help reduce the prevalence of colorectal cancer by combining the power of Cologuard and the talented Exact Sciences team with Pfizer’s experience, relationships and resources.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that it’s important to keep tabs on the news. After all, it’s the news that moves the market. So, it comes as no surprise that after announcing that it has teamed up with Pfizer, Exact Sciences is making a run for the top. After all, the collaboration will likely lead to improved Cologuard sales. Of course, this news is exciting invesotrs who are sending the stock up. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:00), EXAS is trading at $56.80 per share after a gain of $6.75 per share or 13.49% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on EXAS. In particular, we’re interested in following the story surrounding the company’s continued work to commercialize Cologuard. Especially considering that it now has the strength of the PFE sales and marketing team behind it. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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