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Exact Sciences Preliminary Q4 Revenues Beat Estimates

NEW YORK – Exact Sciences on Sunday said that it expects to report fourth quarter revenues of between $294 million and $296 million, well above its previously stated estimate of $232.8 million and the consensus Wall Street estimate of $253.1 million.

The Madison, Wisconsin-based molecular diagnostics company reported revenues of $143.0 million for Q4 2019, but that was prior to the company acquiring Genomic Health for $2.8 billion later in the year.

Exact Sciences said that it would report Q4 screening revenue between $229 million and $230 million, an increase of 61 percent year over year. It said it would report precision oncology revenues of between $65 million and $66 million tied to Genomic Health, which closed Nov. 8. It further noted that on a pro forma basis, assuming Genomic Health was a standalone entity, precision oncology revenues for the full fourth quarter were between $118 million and $119 million, an increase of 13 percent.

Test volume for the firm's flagship Cologuard test was 477,000, a 63 percent increase year over year, while test volume for Genomic Health's Oncotype DX was up 14 percent at 41,000.

For full-year 2019 it expects total revenue between $874.5 million and $876.5 million, including precision oncology revenue between $65 million and $66 million for the period Nov. 8, 2019 through Dec. 31, 2019.

Exact Sciences will report its full Q4 and FY 2019 financial results and provide guidance during  its earnings call, which is scheduled to take place next month.