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Exact Sciences Reports Preliminary 148 Percent Increase in Q4 Revenues

NEW YORK (GenomeWeb) – Exact Sciences late Sunday said that it expects to report fourth quarter revenues of $86.9 million to $87.9 million, an increase of about 148 percent from Q4 2016.

The firm said it completed approximately 176,000 Cologuard colorectal cancer screening tests, 115 percent more than the year before. Nearly 11,000 health care providers ordered Cologuard for the first time during Q4.

For full-year 2017, the company anticipates reporting revenues of $265.5 million to $266.5 million, a year-over-year increase of 168 percent.

Completed Cologuard test volume during 2017 was approximately 571,000 tests, a 134 percent increase from 2016. The total number of providers who have ordered Cologuard since its launch rose to nearly 102,000 during 2017.

"An increasing number of people are being screened for colon cancer with our accurate, non-invasive test," Exact Chairman and CEO Kevin Conroy said in a statement. "As demand for Cologuard strengthens, we will continue to invest in our team, facilities, and infrastructure to support the company's long-term growth."

Exact's shares fell nearly 13 percent to $50.08 in morning trading on the Nasdaq.