EXACT Sciences Corporation (NASDAQ: EXAS) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced an update with regard DNA biomarkers that may accurately detect hepatocellular carcinoma. Of course, the news excited investors, sending the stock on a run for the top. Today, we’ll talk about:
- The update;
- what we’re seeing from EXAS as a result; and
- what we’ll be watching for ahead.
EXAS Announces Update
As mentioned above, Exact Sciences is having an incredibly strong start to the trading session this morning after announcing an update. In a press release issued early this morning, the company, along with Mayo Clinic, announced significant progress toward developing a panel of novel, blood-based, DNA biomarkers that may have the ability to accurately detect hepatocellular carcinoma (HCC). Of course, this is overwhelmingly positive news as HCC is the most common cancer that originates in the liver.
The findings were first seen in a presentation provided by EXAS at Digestive Disease Week. According to the release, Digestive Disease Week is the world’s largest gathering of gastroenterologists and scientists in the field. The biomarker panel currently being developmed proved to be 95% sensitive for detecting HCC across all stages. Also, the company said that sensitivity among patients with curable-stage disease was 91%. Overall, the panel has specificity of 93%. In a statement, Kevin Conroy, Chairman and CEO at EXAS, had the following to offer:
These results are further validation of our advanced DNA technology and our multi-biomarker approach for the detection of the deadliest forms of cancer… We look forward to advancing this important research in early stage cancer with Mayo Clinic.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. In the case of EXAS, the news proved to be overwhelmingly positive. With the new panel of biomarkers, Exact Sciences may have one of the most accurate tests for HCC out there today. Not only could this save a massive number of lives, it could also be massively profitable. So, it’s no surprise that excited investors are sending the stock on a run for the top. At the moment (11:25), EXAS is trading at $65.28 after a gain of $2.82 per share or 4.51% 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 new panel of biomarkers and excited to follow the continued development and eventual commercialization of this screening. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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