EXACT Sciences Corporation (NASDAQ: EXAS)
EXACT Sciences is having an incredibly strong start to the trading session today. In the pre-market, the company released clinical data, causing excitement among investors and leading to strong upward movement. As a result, the stock is starting on a high note. Below, we’ll talk about what we’re seeing from EXAS, why, and what we’ll be watching for ahead.
What We’re Seeing From EXAS
As mentioned above, EXACT Sciences is having a strong start to the trading session. Thanks to overwhelmingly positive clinical results, the stock is making a run for the top, starting the day on a strong note. At the moment (9:33), EXAS is trading at $23.79 per share after a gain of $1.64 per share (7.40%) thus far today.
Why The Stock Is Gaining
As is usually the case, our partners at Trade Ideas were the first to inform us of the gains on EXAS. As soon as we received the alert, the CNA Finance team started digging to see exactly why the stock was making a run for the top. It didn’t take long to dig up the story. Ultimately, the gains are the result of excitement about a positive clinical study.
Early this morning, EXACT Sciences released data from a recent study that shows promise in the development of a blood-based lung cancer test. In the study, nearly 400 patients were tested; the test demonstrated high accuracy for the detection of lung cancer at all stages. Of course, this is overwhelmingly positive news! In a statement, Keving Conroy, Chairman and CEO at EXAS, had the following to offer:
“These results reveal an opportunity to detect lung cancer from a simple blood draw… Our collaboration with Mayo Clinic is efficiently identifying biomarkers for additional cancer applications on the same technology platform as Cologuard.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on EXAS. In particular, we’re interested in the company’s plans with regard to moving forward with the blood test and other cancer biomarkers the company is finding. We’ll keep a close eye on the news and bring it to you as it breaks!
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