Exact Sciences (EXAS) Reports Prelim. Q4 & FY17 Revenues Above Consensus

Exact Sciences Corp. (NASDAQ: EXAS) today announced that the company expects to report revenue between $86.9 million and $87.9 million for the fourth quarter ended Dec. 31, 2017, an increase of 148 percent from the same quarter of 2016. The company completed approximately 176,000 Cologuard tests during the fourth quarter of 2017, 115-percent growth from the same period of 2016. (*** consensus is $79.1 million)

For the full-year 2017, the company anticipates reporting revenue between $265.5 million and $266.5 million, a year-over-year increase of 168 percent. Completed Cologuard test volume during 2017 was approximately 571,000 tests, a 134-percent increase from 2016. (*** consensus is $257.6 million)

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

"An increasing number of people are being screened for colon cancer with our accurate, non-invasive test," said Kevin Conroy, chairman and CEO of Exact Sciences. "As demand for Cologuard strengthens, we will continue to invest in our team, facilities and infrastructure to support the company's long-term growth."

Exact Sciences has not completed preparation of its financial statements for the fourth quarter or full year of 2017. The revenue ranges presented for Q4 2017 and for the year ended December 31, 2017 are preliminary and unaudited and are thus inherently uncertain and subject to change as we complete our financial results for Q4 2017. We are in the process of completing our customary year-end close and review procedures as of and for the year ended December 31, 2017, and there can be no assurance that our final results for this period will not differ from these estimates. During the course of the preparation of our consolidated financial statements and related notes as of and for the year ended December 31, 2017, we or our independent registered public accountants may identify items that could cause our final reported results to be materially different from the preliminary financial estimates presented herein.

Exact Sciences plans to report 2017 financial results and provide revenue and Cologuard test volume guidance on its February 2018 earnings call.

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