Exact Sciences Celebrates Federal Legislation for Medicare Coverage of MCED Tests
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5d ago
0mins
Should l Buy EXAS?
Exact Sciences celebrates the passage of federal legislation that establishes a pathway to enable Medicare coverage for multi-cancer early detection , or MCED, tests. "By aligning public policy with scientific innovation and patient need, this legislation represents a critical step toward addressing that unmet need and expanding access to this emerging technology for millions of Medicare beneficiaries," the company stated. "It's a historic day in the fight against cancer. We are deeply grateful to lawmakers, especially Representatives Terri Sewell and Jodey Arrington, patient advocates, and all those who fought tirelessly for this groundbreaking legislation. Most importantly, we are thrilled for the countless individuals whose lives will be impacted by these tests, potentially giving them more opportunities to celebrate birthdays, anniversaries, and precious moments with their loved ones," said Kevin Conroy, chairman and CEO of Exact Sciences.
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Analyst Views on EXAS
Wall Street analysts forecast EXAS stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for EXAS is 100.20 USD with a low forecast of 78.00 USD and a high forecast of 105.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
20 Analyst Rating
1 Buy
19 Hold
0 Sell
Hold
Current: 102.660
Low
78.00
Averages
100.20
High
105.00
Current: 102.660
Low
78.00
Averages
100.20
High
105.00
About EXAS
Exact Sciences Corporation is a provider of cancer screening and diagnostic tests. The Company provides a portfolio of products for earlier cancer detection and treatment guidance. Its products and services focus on screening and precision oncology tests. It is focusing its research and development efforts on three main areas: Colorectal Cancer Screening Test Development, MCED Test Development and MRD Test Development. Its products and services include Cologuard test, Oncotype DX Breast Recurrence Score Test, Oncotype DX Breast DCIS Score Test, Oncotype DX Colon Recurrence Score Test, OncoExTra Test, and Riskguard Test. Its flagship screening product, the Cologuard test, is a non-invasive, stool-based deoxyribonucleic acid (sDNA) screening test that utilizes a multi-target approach to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. The Oncotype DX Breast Recurrence Score test examines the activity of 21 genes in a patient’s breast tumor tissue.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Market Reaction: Following the news, Abbott (ABT) shares also increased by 0.5%, reflecting investor optimism regarding the acquisition, which is expected to enhance Abbott's market share and growth in the cancer screening sector.
- Deal Background: Abbott announced the acquisition of Exact Sciences last November, valuing the deal at $105 per share, aimed at strengthening its competitive position in the cancer screening market, aligning with its long-term growth strategy.
- Investor Interest: Although Exact Sciences and Abbott did not immediately respond to media inquiries, the positive sentiment surrounding the deal may attract more investor attention, particularly regarding technological innovations and market potential in the cancer screening field.
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- Cancer Detection Technology: Exact Sciences' Cancerguard® test is designed to detect multiple cancers through a simple blood draw, with modeling suggesting that this technology could reduce stage IV cancer diagnoses by 45%, thereby improving early detection rates and patient outcomes.
- Policy Support: The legislation has garnered overwhelming bipartisan support, reflecting the growing recognition of the urgent need for early cancer detection, marking an effective alignment of public policy with scientific innovation to promote the adoption of cancer screening technologies.
- Social Impact: Exact Sciences CEO Kevin Conroy stated that this legislation will bring hope to countless patients by enabling earlier cancer detection, allowing them more opportunities to celebrate important moments with loved ones, demonstrating the company's commitment to improving patient quality of life.
See More
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- Legislative Milestone: Exact Sciences celebrates the passage of federal legislation that establishes a pathway for Medicare coverage of multi-cancer early detection (MCED) tests, which is expected to significantly enhance detection opportunities for Medicare beneficiaries, addressing the urgent need for screening in nearly 70% of annual cancer cases without recommended tests in the U.S.
- Technological Potential: The MCED tests will receive a clear coverage framework following FDA approval based on the Nancy Gardner Sewell Act, with modeling suggesting a potential 45% reduction in stage IV cancer diagnoses, thereby improving early diagnosis and treatment opportunities for patients.
- Public Support: The legislation has garnered overwhelming bipartisan support, reflecting a growing recognition of the urgent need for early cancer detection, with Exact Sciences CEO Kevin Conroy stating that this will bring hope to countless patients, allowing them to celebrate more precious moments with loved ones.
- Innovative Testing: Exact Sciences' Cancerguard® test aims to detect multiple cancers through a simple blood draw, and while it has not yet received FDA approval, its high specificity and broad detection capabilities will provide a crucial complement to future cancer screening efforts.
See More
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- Global Standard Established: The Oncotype DX Breast Recurrence Score test has now guided treatment decisions for over 2 million breast cancer patients worldwide, underscoring its critical role in personalized treatment and solidifying its status as a global standard of care.
- Economic Benefits of Avoiding Chemotherapy: The test has enabled approximately 1.6 million patients to safely avoid potentially unnecessary chemotherapy, with an estimated average lifetime savings of about $10,000 per patient in the U.S. healthcare system, significantly reducing overall medical costs.
- Clinical Validation and Broad Application: The Oncotype DX test is utilized in over 100 countries and has been validated in numerous landmark clinical trials, ensuring equitable access for diverse populations and enhancing its authority in clinical practice guidelines.
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