Exact Sciences reports third quarter net loss of $166.9 million | Business News
The publicly traded biotech giant said it had a loss of 97 cents per stock share during a Tuesday conference call. That’s compared with an 89 cent per share loss expected by six Wall Street analysts surveyed by Chicago-based firm Zacks Investment Research.
But Exact Sciences posted revenue of $456.4 million in the period, which exceeded Wall Street expectations. Seven analysts surveyed by Zacks had expected $429 million.
Exact Sciences Corp. CEO Kevin Conroy said Tuesday the company is entering an “exciting period” for its expanding efforts to support tests that help defeat cancer through early detection.
That entails getting more people tested with products such as Cologuard, which screens for colorectal cancers, as well as Oncotype DX — a portfolio of breast, colon and prostate cancer tests that aim to give an accurate picture of a tumor’s biological makeup, he said.
