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Exact Sciences Forecasts 21K Completed Cologuard Tests for Q2

NEW YORK (GenomeWeb) – Exact Sciences today forecast 21,000 completed Cologuard tests for the second quarter. 

The Madison, Wisconsin-based molecular diagnostics firm beat its earlier expectation of 18,000 tests for Q2. It also said today that it anticipates about 32,000 completed Cologuard tests for the third quarter. 

The US Food and Drug Administration approved the non-invasive stool DNA-based colon cancer screening test last August, and in October the Centers for Medicare and Medicaid Services issued a final national coverage determination for the test. The CE-marked test is also available in parts of Europe.

Exact Sciences said that since Cologuard's launch in October, more than 13,800 doctors have ordered the test at least once. It added that the patient compliance rate — defined as the number of valid test results reported divided by the number of collection kits shipped to patients 60 or more days prior to June 19 — has risen to 73 percent. 

"The launch of Cologuard remains very strong and we continue to invest in its growth," Exact Sciences Chairman and CEO Kevin Conroy said in a statement. "We also are pleased with the level of patient compliance, as it confirms that Cologuard is expanding the pool of those who get screened." 

In early Thursday trade on the Nasdaq, shares of exact Sciences were up 5 percent at $32.76.