Exact Sciences posted revenues of $218.8 million in the third quarter of 2019 and screened some 456,000 people with Cologuard.
Here are five quotes from CEO and Chairman Kevin Conroy from the company's earnings call, as transcribed by Motley Fool:
On Exact's quarterly results: "The Exact Sciences team delivered another strong quarter and made significant progress, enhancing our internal infrastructure, positioning us for long-term, sustainable growth. We screened 456,000 people with Cologuard in the third quarter and more than 3 million people over the last five years."
On Exact's priorities for the rest of the year: "The Exact Sciences team is focused on three priorities in 2019: one, powering our partnership with Pfizer; two, enhancing Cologuard; and three, advancing our pipeline of blood-based cancer diagnostic tests. Starting with our first priority, we're confident that we can capture at least 40 percent of the U.S. colorectal cancer screening market from about 5 percent today."
On how Exact will grow market share by partnering with gastroenterologists: "Partnering with gastroenterologists will help Cologuard reach more people. In July, we launched a new GI sales team to call on these important influencers in colon cancer screening."
On Exact's goals to enhance Cologuard: "There are two main components of this goal for 2019: expanding Cologuard's label to include ages 45 to 49, and laying the foundation for an improved version of Cologuard. Expanding Cologuard's label is an important opportunity for growth and for detecting colorectal cancer earlier. Last month, the FDA approved our label expansion providing access to Cologuard for the $19 million average-risk unscreened Americans ages 45 to 49 and increasing its total addressable market by $3 billion to $18 billion."
On Cologuard 2.0: "Cologuard 2.0 has a potential to lift Cologuard's clinical and economic value proposition even higher and further differentiate it as a front-line screening test. Our primary goal is to increase Cologuard's specificity while maintaining a high level of sensitivity. Higher specificity further enhances the overall health economic performance of Cologuard in the screening setting."