After posting $1.5 billion in 2020 revenue, Exact Sciences is poised to continue growing its presence in the diagnostic screening space.
Here are four quotes and insights on the company's performance and future, according to a transcript from The Motley Fool:
1. Exact Sciences Chair and CEO Kevin Conroy said the company tested more than 4 million people across all its screening tests. Through acquisitions, Exact looks to capitalize on a screening market worth about $60 billion.
2. Exact CFO Jeff Elliott on future financial performance: "We expect first-quarter screening revenue to decline sequentially because of typical seasonal trends. Primary care utilization is lower in December and early January because of the holidays. This impacts screening revenue in the first quarter, due to the normal lag between a Cologuard order and a completed test. We expect the sequential decline to be slightly more this year because of the year-end spike in COVID-19 that lasted through January and is now tapering off miserably. As a result, we have a positive growth outlook for 2021, as the COVID-19 vaccine becomes more widely available and other growth drivers take hold."
3. Mr. Conroy on the company's goals for Cologuard 2.0: "Our goals with Cologuard 2.0 are to at least maintain cancer sensitivity, increase pre-cancer sensitivity, and decrease false positives by 30 percent. We expect these enhancements to improve revenue and cost of goods by 5 percent to 10 percent per test."
4. Mr. Conroy on Exact's blood-based colon cancer test: "Our goal is for BLUE-C, our prospective 10,000 patient trials, to support FDA approval for both Cologuard 2.0 and our colon cancer blood test. BLUE-C will collect blood and stool for our blood test, Cologuard, and a [fecal immunochemical] test, allowing us to compare the performance of all three in one trial. The study is progressing with more than 100 high-quality sites enrolling patients."
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