Skip to main content
Premium Trial:

Request an Annual Quote

Exact Sciences to Offer 4M Shares in Public Offering

NEW YORK (GenomeWeb) – Exact Sciences said after the close of the market Monday that it will offer 4 million shares of common stock in a public offering.

The shares are being priced at $25.75 each. The offering, which is expected to close on or around Dec. 19, is pursuant to a previously filed shelf registration with the US Securities and Exchange Commission.

Jefferies and Robert W. Baird are the underwriters on the offering and have been granted an option to purchase up to 600,000 additional shares.

Exact Sciences said that it would use net proceeds to fund expansion of its Cologuard commercialization efforts, product development efforts, and general corporate and working capital purposes.

Cologuard was approved for marketing by the US Food and Drug Administration in August. The non-invasive stool-based test is the first FDA-approved colorectal cancer test for screening DNA from stool samples. And last month, the Centers for Medicare & Medicaid Services said that it would reimburse providers $502 per Cologuard test.

In early Tuesday trading on the Nasdaq, shares of Exact Sciences were down 6 percent at $25.36.

The Scan

LINE-1 Linked to Premature Aging Conditions

Researchers report in Science Translational Medicine that the accumulation of LINE-1 RNA contributes to premature aging conditions and that symptoms can be improved by targeting them.

Team Presents Cattle Genotype-Tissue Expression Atlas

Using RNA sequences representing thousands of cattle samples, researchers looked at relationships between cattle genotype and tissue expression in Nature Genetics.

Researchers Map Recombination in Khoe-San Population

With whole-genome sequences for dozens of individuals from the Nama population, researchers saw in Genome Biology fine-scale recombination patterns that clustered outside of other populations.

Myotonic Dystrophy Repeat Detected in Family Genome Sequencing Analysis

While sequencing individuals from a multi-generation family, researchers identified a myotonic dystrophy type 2-related short tandem repeat in the European Journal of Human Genetics.