NEW YORK (GenomeWeb) – Exact Sciences reported on Sunday that it expects fourth quarter revenues of $34.9 million to $35.4 million, and FY 2016 revenues of $99.0 million to $99.5 million.
The firm's preliminary revenues soundly beat the average Wall Street estimate of $30.2 million for Q4 and $94.2 million for 2016.
Exact also reported that it completed approximately 82,000 Cologuard colon cancer tests during the fourth quarter, a 114 percent jump from the same period of 2015. In 2016, the company completed 244,000 tests Cologuard, a 134 percent increase from 2015.
Further, more than 9,500 health care providers ordered Cologuard for the first time during Q4, and the number of providers who have ordered Cologuard since it was launched increased to nearly 60,000 during 2016, an increase of 122 percent from the prior year.
"Cologuard is becoming a standard of care for 80 million Americans who should be screened for colon cancer," said Exact Chairman and CEO Kevin Conroy in a statement. "Strong demand for Cologuard from both patients and healthcare providers reflects the great need for this innovative, easy-to-use colon cancer screening test."
Exact's shares rose more than 14 percent to $17.28 in morning trading on the Nasdaq.