Exact Sciences posted second-quarter 2019 revenues of $199.9 million, a 94 percent year-over-year increase.
The company also announced its intention to acquire Genomic Health in a $2.8 billion deal.
Here's what you should know:
1. Approximately 415,000 Cologuard tests were completed in the quarter, a 93 percent year-over-year increase.
2. More than 13,000 clinicians ordered Cologuard for the first time in the quarter.
3. Exact posted a net loss of $38.4 million, or $0.30 per share, in the quarter.
4. Exact made $479 in revenues per test, while cost per test dropped to $123, a $2 year-over-year improvement.
5. Exact raised its 2019 outlook to between $800 million and $810 million from $725 million to $740 million.
Company chairman and CEO Kevin Conroy said: "The Exact Sciences team delivered another strong quarter, bringing us closer to our goal of capturing at least 40-percent share of the U.S. colorectal cancer screening market with Cologuard, from about 6 percent today. The foundation we've built with our team, infrastructure, and commercial scale positions Exact Sciences well for continued growth."
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