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Exact Sciences Projects $1.5M in Q4 Cologuard Revenues

NEW YORK (GenomeWeb) – Exact Sciences said today that it expects to report $1.5 million in revenue from its Cologuard colon cancer test for the fourth quarter of 2014, the first quarter in which the test was commercially available.

In addition to the preliminary revenue projection, Exact Sciences disclosed that during 2014 it reported a diagnostic result for 4,024 Cologuard tests. The company said that more than 4,000 physicians wrote at least one prescription for the test during the year, and that the patient compliance rate was 74.6 percent. The patient compliance rate is derived from the number of valid test results reported divided by the number of collection kits shipped to patients 60 or more days prior to Dec. 31, 2014.

The US Food and Drug Administration approved Cologuard in August and the Centers for Medicare and Medicaid Services issued a national coverage determination for the test in October.

Exact Sciences will report its complete 2014 financial results in February.