NEW YORK (GenomeWeb) – Exact Sciences today announced a year-over-year tumble in its first quarter revenues as it awaits a decision by the US Food and Drug Administration on the company's colorectal cancer screening test.

The Madison, Wis.-based molecular diagnostics firm reported $294,000 in revenues for the three months ended March 31, down 71 percent from $1.0 million for the first quarter in 2013. The figure fell short of the consensus analyst revenue estimate of $600,000.

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