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Contact:
Megan Jones
Exact Sciences Corp.
meganjones@exactsciences.com
608-535-8815
Media Contact:
J.P. Fielder
Exact Sciences Corp.
jpfielder@exactsciences.com
608-210-5220
For Immediate Release
Cologuard® revenue and completed tests increased 87 percent to $90.3 million and 186,000
· Nearly 9,000 healthcare providers ordered their initial Cologuard test during the first quarter, and more than 110,000 have ordered since the test was launched
MADISON, Wis., Apr. 26, 2018 Exact Sciences Corp. (Nasdaq: EXAS) today announced that the company generated revenue of $90.3 million and completed approximately 186,000 Cologuard tests during the quarter ended Mar. 31, 2018. First-quarter 2018 revenue and Cologuard test volume both grew 87 percent from 2017.
The Exact Sciences team delivered strong growth to start the year by remaining relentlessly focused on our core priorities. By increasing awareness and adoption of Cologuard, we are making strides toward our mission of playing a role in the eradication of colon cancer, said Kevin Conroy, chairman and CEO of Exact Sciences. The success of Cologuard also positions us to develop tests that facilitate the early, accurate detection of other forms of cancer.
First-Quarter 2018 Financial Results
For the three-month period ended Mar. 31, 2018, as compared to the same period of 2017 (where applicable):
· Revenue was $90.3 million, an increase of 87 percent, and test volume was 186,000, an increase of 87 percent
· Average recognized revenue per test was unchanged at $485; note that the prior period included approximately $4.3 million, or $43 per test, related to the one-time impact of certain payers meeting the companys revenue recognition criteria for accrual-basis revenue accounting
· Average cost per test was $123, an improvement of 28 percent
· Gross margin was 75 percent, an increase of 970 basis points
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Exact Sciences Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
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Exact Sciences Corp provided additional information to their SEC Filing as exhibits
Ticker: EXAS
CIK: 1124140
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-18-003345
Submitted to the SEC: Thu Apr 26 2018 4:57:48 PM EST
Accepted by the SEC: Thu Apr 26 2018
Period: Saturday, March 31, 2018
Industry: Commercial Physical And Biological Research