Exact Sciences

The firm reported that revenues from screening products rose 35 percent year over year to nearly $220 million.

The company said that despite the uptick, the COVID-19 pandemic has negatively affected orders for its Cologuard colorectal cancer screening test.

The test is a real-time RT-PCR assay for the qualitative detection of SARS-CoV-2 nucleic acid in nasal, nasopharyngeal, and oropharyngeal swab specimens.

The investment bank said that Exact's Cologuard test continues to gain market share, and that its alternatives are largely invasive and inferior.

The GenomeWeb Index fared better than its benchmark counterparts in March, but still fell more than 4 percent.

The companies have signed on to a new public-private initiative organized by Wisconsin's governor intended to increase the state's testing capacity.

The company said its sales team will serve healthcare providers by telephone and online until it's safe to return to the field.

The company said it will use the proceeds for general corporate purposes, such as the repayment of debt, working capital, and possible acquisitions.