Exact Sciences | GenomeWeb

Exact Sciences

Executives from Luminex and Exact Sciences provided updates on their companies at the 35th Annual JP Morgan Healthcare Conference in San Francisco.

The company also reported it completed 244,000 Cologuard tests during 2016, a 134 percent increase from 2015.

It was a rough year for biotech stocks — the Nasdaq Biotech Index fell 22 percent even as the Dow gained 13 percent and the Nasdaq gained 8 percent.

After a five-year pilot, only one company has successfully taken a test through parallel review, but there is growing industry interest.

The stool-based test was approved by US regulators in 2014 and included as an A-rated service in the US Preventive Services Task Force's colorectal cancer screening guidelines earlier this year.

The company attributed the uptick in revenues to a 100 percent increase in the number of Cologuard colon cancer tests it completed during the quarter.

The colon cancer test is now available through Tricare for 9.4 million active duty, reserve, and National Guard personnel, as well as veterans and their dependents.

Coming off a nearly 9 percent rise in July, the GenomeWeb Index fell more than 2 percent in August, mimicking the Nasdaq Biotechnology Index, which fell 3 percent.

The move follows the inclusion of Cologuard in the US Preventive Services Task Force's updated colorectal cancer screening recommendations.

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The Trump transition team has asked NIH Director Francis Collins to remain at his post, though it's unclear for how long that will be.