Exact Sciences

The company said 571,000 people were screened for colon cancer with its noninvasive Cologuard test in 2017.

Armune, a University of Michigan spinout, owns licensing rights to protein biomarkers from the university for lung, breast, and prostate cancer.

Underwriter Merrill Lynch exercised in full the option to purchase up to an additional $90M in senior notes on top of a $600M notes offering announced last week.

Investors in Exact Sciences went on a selling spree after CellMax publicized data suggesting its test could outperform Cologuard for the early detection of colorectal cancer.

The company said it will use the proceeds from the offering for general corporate and working capital purposes.

Among the diagnostic firms presenting at the conference on Tuesday were lab giant LabCorp, diversified medical products firm Hologic, and MDx startups, such as Adaptive Biotechnologies.

The firm said it completed approximately 176,000 Cologuard tests during the quarter, a 115 percent year-over-year spike.

Several firms, such as Exact Sciences and Foundation Medicine, saw their share values more than double during the year, while NantHealth and GenMark saw their share values shrink. 

The firm said it expects to finance the construction of a clinical lab and related facilities, as well as additional development of a 46-acre campus.

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