MADISON, Wis.—(BUSINESS WIRE)— Exact Sciences Corp. (NASDAQ: EXAS) today announced that it has entered into an agreement with Blue Cross & Blue Shield of Rhode Island, one of the state's leading health plans with more than 500,000 members, to include Cologuard under its Commercial and Medicare Advantage plans. The agreement will go into effect on September 15, 2015.
Cologuard is the first and only FDA approved noninvasive stool-based DNA (sDNA) screening test for colon cancer. The test will be available to Blue Cross & Blue Shield of Rhode Island members through their physician without a co-payment or co-insurance.
"We look forward to working with Blue Cross & Blue Shield of Rhode Island to provide their members with a new option for colon cancer screening. Colon cancer is most treatable when caught early, highlighting the importance of routine screening," said Kevin Conroy, chairman and CEO of Exact Sciences. "The growing coverage of Cologuard during the first year of launch underscores the strength of our clinical data and the demand for more noninvasive screening options in order to improve colon cancer screening rates across the country."
Cologuard offers people 50 years and older who are at average risk for colorectal cancer an easy-to-use screening test that they can do in the privacy of their own home. Unlike many other screening options, Cologuard does not require medication, dietary restrictions or bowel preparation prior to taking the test. It is the first noninvasive screening test for colorectal cancer that analyzes both sDNA and blood biomarkers to detect cancer and precancer. Cologuard is available by prescription only.
For more information, visit www.CologuardTest.com or call 1-844-870-8870.
Cologuard is the first and only non-invasive stool DNA test approved by the FDA for colorectal cancer screening. Cologuard was approved by the FDA in August 2014 and results from Exact Sciences' prospective 90-site, point-in-time 10,000-patient pivotal trial were published in the New England Journal of Medicine in March 2014. Cologuard is included in the colorectal cancer screening guidelines of the American Cancer Society and stool DNA is listed in the screening guidelines of the U.S. Multi-Society Task Force on Colorectal Cancer.
Cologuard is indicated to screen adults of either sex, 50 years or older, who are at average-risk for colorectal cancer. Cologuard is not for everyone and is not a replacement for diagnostic colonoscopy or surveillance colonoscopy in high-risk individuals. False positives and false negatives do occur. Any positive test result should be followed by a diagnostic colonoscopy. Following a negative result, patients should continue participating in a screening program at an interval and with a method appropriate for the individual patient. Cologuard performance when used for repeat testing has not been evaluated or established. For more information about Cologuard, visit www.CologuardTest.com. Rx Only.
About Exact Sciences
Exact Sciences Corp. (NASDAQ: EXAS) is a molecular diagnostics company focused on the early detection and prevention of colorectal cancer. The company has exclusive intellectual property protecting its noninvasive, molecular screening technology for the detection of colorectal cancer. For more information, follow us on Twitter @ExactSciences or find us on Facebook.
Certain statements made in this news release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended that are intended to be covered by the "safe harbor" created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "estimate," "anticipate" or other comparable terms. Forward-looking statements in this news release may address the following subjects among others: statements regarding insurance coverage for Cologuard, the sufficiency of our capital resources, our ability to secure favorable reimbursement rates from Medicare and other third-party payors, timing of our launch of a commercial product, our estimates of the available market size and our potential penetration, expected research and development expenses, expected general and administrative expenses and our expectations concerning our business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
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Cara Tucker, 614-302-5622
Jayme Maniatis and Rachel Gross, 781-684-0770
Source: Exact Sciences Corp.