EXACT Sciences Corporation (NASDAQ: EXAS) is having a great day in the market today, and for good reason. Yesterday, the company reported strong news with regard to its Cologuard product. Today, the company is in the news once again with an announcement that it will be ringing a NASDAQ bell. Today, well talk about the news, what we’re seeing from the stock as a result, and what we’ll be watching for ahead.
EXAS Announces Strong Cologuard Sales Data
As mentioned above, the run in EXACT Sciences started yesterday when the company announced information with regard to its colorectal cancer screening product, Cologuard. In a press release issued yesterday morning,t he company said that more than 1 million patients have been screened for colorectal cancer using the product. In the release, EXAS reminded investors that this milestone was achieved in less than 4 years after the screening was approved by the FDA and covered by Medicare. This makes Cologuard one of the most quickly adopted diagnostic technologies in history. In a statement, Kevin Conroy, Chairman and CEO at EXAS, had the following to offer:
Colorectal cancer screening rates are stubbornly low, leaving millions of Americans unscreened for the No. 2 cancer killer… Cologuard was designed to help more people get screened and it is doing just that. Approximately half of Cologuard users haven’t been screened before and we’re excited that health care professionals and patients around the country are making Cologuard their noninvasive screening test of choice.
Exact Sciences To Ring The NASDAQ Opening Bell
Today, following yesterday’s positive news, EXAS hit the limelight again with news that it will be ringing the NASDAQ opening bell. The event will take place remotely from Tucson, Arizona tomorrow. In the release, it was announced that the EXAS team will be joined by the national advocacy organization, Fight Colorectal Cancer, also known as Fight CRC, the American Cancer Society, Mayo Clinic and PGA TOUR players to recognize March as Colorectal Cancer Awareness Month.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news surrounding Exact Sciences both yesterday and today proved to be overwhelmingly positive. Yesterday’s news highlighted a key commercial milestone, while today’s news is much more than a bell ringing announcement. With PGA players ringing the bell along side the company, Cologuard is going to get some seriously good publicity. So, it’s no surprise to see that the stock is making a run for the top. Currently (10:36), EXAS is trading at $44.77 per share after a gain of $2.21 per share or 5.19% 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 continued adoption of Cologuard as a diagnostic tool of choice among doctors and patients alike. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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