NEWS in Focus: Exact Sciences Corp. (Nasdaq: EXAS)

Shares of Exact Sciences Corp. (Nasdaq: EXAS) were transacted with a volume of 2183689 shares in last trading period as compared to its average volume of 1.67M shares over last three months period. The stock price scored 9.42% and valued at $91.13. Its 52 week price range is $ 37.36 – 90.94.

Exact Sciences Corp. (Nasdaq: EXAS) announced that the company generated revenue of $454.5 million and completed approximately 934,000 Cologuard tests during the year ended Dec. 31, 2018. Full-year 2018 revenue and Cologuard test volume grew 71 percent and 64 percent from 2017, respectively.

During the fourth quarter of 2018, the company generated revenue of $143.0 million and completed approximately 292,000 Cologuard tests. Fourth-quarter 2018 revenue and test volume grew 64 percent and 66 percent from the same period of 2017, respectively.

“The Exact Sciences team made tremendous progress in 2018, and we look forward to helping more people get screened for colorectal cancer in 2019 through our partnership with Pfizer,” said Kevin Conroy, chairman and CEO of Exact Sciences. “Our team continues working hard to advance our pipeline of liquid biopsy tests to deliver additional life-changing innovations in early cancer detection.”

Fourth-Quarter 2018 Financial Results

For the three-month period ended December, 31 2018, as compared to the same period of 2017 (where applicable):

Revenue was $143.0 million, an increase of 64 percent, and test volume was 292,000, an increase of 66 percent

Average Cologuard recognized revenue per test was $486, a decrease of 2 percent

Average Cologuard cost per test was $129, an improvement of 4 percent

Gross margin was 73 percent, an increase of 20 basis points

Operating expenses were $154.1 million, an increase of 77 percent

Net loss was $54.0 million or $0.44 per share, compared to $21.8 million or $0.18 per share

Non-cash interest expense related to convertible debt was $8.4 million, or $0.07 per share

Cash utilization was $61.0 million including $17.9 million related to the Biomatrica acquisition, compared to $37.8 million

Cash, cash equivalents and marketable securities were $1.1 billion at the end of the quarter

Nearly 15,000 healthcare providers ordered their first Cologuard test during the fourth quarter, and approximately 147,000 have ordered since the test was launched

2019 Outlook

The company anticipates revenue of $710-$730 million during 2019.

Financial Update:

The price moved ahead 5.12% from the mean of 20 days, 19.68% from 50 and separated 34.15% from 200 days average price. Its price volatility for a month and for a week remained 3.36% 3.78% respectively. It noted beta of 1.87. Company’s price to sales ratio for last 12 months was 25.53 while its price to book ratio for the most recent quarter was 14.26 and its Market Cap valued at $10.19B.

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