Fourth-quarter revenue of approximately $1.5 Million with more than 4,000 tests completed in 2014
Exact Sciences Offers Update on Cologuard's® Early Launch Trajectory
MADISON, Wis.--(BUSINESS WIRE)-- Exact Sciences Corp. (Nasdaq:EXAS) today announced that during 2014 it completed and reported a diagnostic result for 4,024 Cologuard tests, more than 4,000 physicians wrote at least one prescription for the test and that as of December 31, the patient compliance rate was 74.6 percent. The Company estimates revenue during the fourth quarter of 2014 from Cologuard was approximately $1.5 million. Exact Sciences has not completed preparation of its financial statements for 2014 and this revenue estimate is based on preliminary data.
"We are pleased with the early launch trajectory of Cologuard," said Kevin T. Conroy, chairman and chief executive of Exact Sciences. "In the short time since FDA approval, and particularly following the Medicare coverage determination, our sales force and marketing team generated a tremendous amount of interest in Cologuard from both doctors and patients."
[The U.S. Food and Drug Administration (FDA) approved Cologuard, a noninvasive colon cancer screening test, on August 11, 2014, and a final national coverage determination for Cologuard was announced by the Centers for Medicare and Medicaid Services (CMS) on October 9, 2014. In December 2014, Exact Sciences affixed the CE mark to the Cologuard collection kit, and expects the test to be available to European patients in January 2015.
Exact Sciences will report 2014 financial results and provide a commercial update during its earnings call in February 2015. Actual revenue may differ materially from the estimate above due to items that may be identified during the preparation of financial statements for 2014 that require adjustments to be made to reported revenue. The patient compliance rate is derived from the number of valid test results reported divided by the number of collection kits shipped to patients 60 or more days prior to December 31, 2014.
http://investor.exactsciences.com/releasedeta...eID=890785
Exact Sciences Offers Update on Cologuard's® Early Launch Trajectory
MADISON, Wis.--(BUSINESS WIRE)-- Exact Sciences Corp. (Nasdaq:EXAS) today announced that during 2014 it completed and reported a diagnostic result for 4,024 Cologuard tests, more than 4,000 physicians wrote at least one prescription for the test and that as of December 31, the patient compliance rate was 74.6 percent. The Company estimates revenue during the fourth quarter of 2014 from Cologuard was approximately $1.5 million. Exact Sciences has not completed preparation of its financial statements for 2014 and this revenue estimate is based on preliminary data.
"We are pleased with the early launch trajectory of Cologuard," said Kevin T. Conroy, chairman and chief executive of Exact Sciences. "In the short time since FDA approval, and particularly following the Medicare coverage determination, our sales force and marketing team generated a tremendous amount of interest in Cologuard from both doctors and patients."
[The U.S. Food and Drug Administration (FDA) approved Cologuard, a noninvasive colon cancer screening test, on August 11, 2014, and a final national coverage determination for Cologuard was announced by the Centers for Medicare and Medicaid Services (CMS) on October 9, 2014. In December 2014, Exact Sciences affixed the CE mark to the Cologuard collection kit, and expects the test to be available to European patients in January 2015.
Exact Sciences will report 2014 financial results and provide a commercial update during its earnings call in February 2015. Actual revenue may differ materially from the estimate above due to items that may be identified during the preparation of financial statements for 2014 that require adjustments to be made to reported revenue. The patient compliance rate is derived from the number of valid test results reported divided by the number of collection kits shipped to patients 60 or more days prior to December 31, 2014.
http://investor.exactsciences.com/releasedeta...eID=890785
