Exact Sciences Corp (EXAS) Posts Wider Q3 Loss

Exact Sciences Corp (NASDAQ: EXAS) reported Q3 EPS of ($0.39), $0.07 worse than the analyst estimate of ($0.32). Revenue for the quarter came in at $0 versus the consensus estimate of $107 thousand.

Exact ended the third quarter of 2014 with cash, cash equivalents and marketable securities of $211.1 million, compared to $133.3 million at Dec. 31, 2013.

“The past three months have been among the most significant in the company’s history,” said Kevin T. Conroy, the company’s chairman and chief executive. “Following Cologuard’s approval by the FDA, Medicare officially made Cologuard available to its beneficiaries on Oct. 9 and issued a preliminary pricing decision. We are very pleased with the significant demand from physicians and patients, and the early uptake of Cologuard since Medicare’s final national coverage decision. We are focused on educating physicians and ensuring that patients across the country know that Cologuard is a new highly-sensitive, non-invasive screening option.”

For earnings history and earnings-related data on Exact Sciences Corp (EXAS) click here.

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