Business & Finance
Exact Sciences anticipates 168% revenue growth for 2017
8 January 2018 -

Molecular diagnostics company Exact Sciences Corp (Nasdaq:EXAS) said on Friday that the company expects to generate revenue in the USD86.9m and USD87.9m range for the fourth quarter ended 31 December 2017.

This marks a growth of 148% in revenues when compared with the same quarter of 2016.

For the fourth quarter 2017, the company has completed approximately 176,000 Cologuard tests, up 115% from the comparable period of 2016.

In 2017, the company expects to collect revenues between USD265.5m and USD266.5m range, a year-over-year increase of 168%. The completed Cologuard test volume during 2017 was approximately 571,000 tests, a rise of 134% from 2016.

According to the company, nearly 11,000 health care providers ordered Cologuard for the first time during the fourth quarter ended 31 December 2017. The number of providers who have ordered Cologuard since its launch increased to nearly 102,000 during 2017.

Additionally, the company plans to report 2017 financial results and provide revenue and Cologuard test volume guidance on its February 2018 earnings call.