Here’s what you should know:
1. Approximately 456,000 Cologuard tests were completed in the quarter, an 89 percent year-over-year increase.
2. Nearly 12,000 clinicians ordered Cologuard for the first time in the quarter.
3. Exact posted a net loss of $40.5 million, or $0.31 per share, in the quarter. That’s down from $45.4 million in the same period of 2018.
4. Exact made $479 in average revenues per test, while cost per test dropped to $114, a $10 year-over-year improvement.
5. Exact raised its 2019 outlook to between $802 million and $810 million.
6. During the quarter, Exact opened a new Cologuard-processing lab and finished its implementation into Epic’s EHR system. The Epic implementation will make it easier for providers to order Cologuard tests.
Exact CEO and Chairman Kevin Conroy said: “The Exact Sciences team delivered another strong quarter and most importantly, has screened more than 3 million people with Cologuard over the last five years. The team made significant progress enhancing our internal infrastructure with the opening of our new lab and implementation of Epic’s best-in-class EHR system. The foundation we’ve built for Cologuard and our planned combination with Genomic Health position Exact Sciences to be the cancer diagnostics leader for years to come.”
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