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

Positive Framing of Genetic Studies Can Spark Mistrust Among Underrepresented Groups

Researchers in Human Genetics and Genomics Advances report that how researchers describe genomic studies may alienate potential participants.

Small Study of Gene Editing to Treat Sickle Cell Disease

In a Novartis-sponsored study in the New England Journal of Medicine, researchers found that a CRISPR-Cas9-based treatment targeting promoters of genes encoding fetal hemoglobin could reduce disease symptoms.

Gut Microbiome Changes Appear in Infants Before They Develop Eczema, Study Finds

Researchers report in mSystems that infants experienced an enrichment in Clostridium sensu stricto 1 and Finegoldia and a depletion of Bacteroides before developing eczema.

Acute Myeloid Leukemia Treatment Specificity Enhanced With Stem Cell Editing

A study in Nature suggests epitope editing in donor stem cells prior to bone marrow transplants can stave off toxicity when targeting acute myeloid leukemia with immunotherapy.