Exact Sciences revenue up 63%, Cologuard test volume up 49% for Q3 — 7 insights

Exact Sciences posted $118.3 million in third quarter 2018 revenue, a 63 percent year-over-year increase.

Here's what you should know:

1. Approximately 241,000 Cologuard tests were completed in the quarter, which was a 49 percent year-over-year increase.

2. Average revenue per test was $492 per test, a 9 percent year-over-year increase.

3. Net losses were $45.4 million, or $0.37 per share, up from $26.9 million, or $0.23 per share compared to the same period in 2017

4. More than 11,000 healthcare providers ordered their first Cologuard test during the quarter. About 132,000 have ordered a Cologuard test since its inception.

5. Exact raised its full-year projections from between $420 million and $430 million to between $435 million and $440 million.

6. Exact Sciences Chairman and CEO Kevin Conroy said, "The Exact Sciences team delivered another strong quarter, highlighted by significantly increased patient access to Cologuard with no out-of-pocket cost and continued progress toward our 2018 priorities. We are enthusiastic about our partnership with Pfizer and launched Cologuard to their internal medicine team in early October. We look forward to working with such a tremendous partner in the fight against colon cancer."

7. Exact's stock rocketed on the positive results, increasing 14 percent as of 10 a.m. EST.

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