Here's Why Exact Sciences Stock Rocketed Higher Today

Brian Orelli, PhD, The Motley Fool
·2-min read
Here's Why Exact Sciences Stock Rocketed Higher Today
Here's Why Exact Sciences Stock Rocketed Higher Today

Shares of Exact Sciences (NASDAQ: EXAS) were up 28% at 1:30 p.m. EDT today after the company announced solid third-quarter results and the acquisition of Thrive Earlier Detection, which specializes in tests for the early detection of cancer. Revenue came in at $408 million, up 87% year over year thanks to the addition of $91.6 million from the precision oncology tests that the company got in the acquisition of Genomic Health, which closed last November. Screening revenue, which is from the company's legacy colon cancer test, Cologuard, and revenue from Biomatrica products fell 2% year over year.