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Exact Sciences Corp (EXAS) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 31, 2018

Exact Sciences Corp

CIK: 1124140 Ticker: EXAS

Exhibit 99

 

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 company’s 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

 


The following information was filed by Exact Sciences Corp (EXAS) on Thursday, April 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Cash Flows (parenthetical)
Condensed Consolidated Statements Of Comprehensive Loss
Condensed Consolidated Statements Of Operations
Convertible Notes
Convertible Notes (details)
Convertible Notes (tables)
Fair Value - Fair Value Measurements (details)
Fair Value - Unrealized Loss Positions (details)
Fair Value Measurements
Fair Value Measurements (tables)
Long-term Debt
Long-term Debt (details)
Long-term Debt - Revolving Loan Agreement (details)
Mayo License Agreement
Mayo License Agreement (details)
New Market Tax Credit
New Market Tax Credit (details)
Organization And Basis Of Presentation
Recent Accounting Pronouncements
Related Party Transaction (details)
Related Party Transactions
Stock-based Compensation
Stock-based Compensation (details)
Stock-based Compensation (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Aoci Components (details)
Summary Of Significant Accounting Policies - Changes In Aoci (details)
Summary Of Significant Accounting Policies - Inventory (details)
Summary Of Significant Accounting Policies - Investment In Privately-held Company (details)
Summary Of Significant Accounting Policies - Marketable Securities (details)
Summary Of Significant Accounting Policies - Net Loss Per Share (details)
Summary Of Significant Accounting Policies - Property & Equipment, Patent Costs And Intangibles (details)
Summary Of Significant Accounting Policies - Revenue Recognition And Inventory (details)
Wisconsin Economic Development Tax Credit (details)
Wisconsin Economic Development Tax Credits
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

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