MADISON, Wis.—(BUSINESS WIRE)— Exact Sciences Corp. (Nasdaq: EXAS) today announced that it expects to end the second quarter of 2015 with approximately 21,000 completed Cologuard tests.
More than 13,800 physicians ordered at least one Cologuard test since the October 2014 launch and the patient compliance rate for Cologuard rose to 73 percent.
The company anticipates completing approximately 32,000 tests during the third quarter of 2015.
"The launch of Cologuard remains very strong and we continue to invest in its growth," said Kevin T. Conroy, chairman and chief executive officer of Exact Sciences. "We also are pleased with the level of patient compliance, as it confirms that Cologuard is expanding the pool of those who get screened."
The U.S. Food and Drug Administration (FDA) approved Cologuard, a noninvasive stool-DNA based colon cancer screening test for average-risk patients, on August 11, 2014, and a final national coverage determination for Cologuard was announced by the Centers for Medicare and Medicaid Services (CMS) on October 9, 2014. Cologuard is CE marked and available in parts of the EU.
Exact Sciences will report second-quarter 2015 financial results and provide a commercial update during its earnings call in July 2015. The patient compliance rate is derived from the number of valid test results reported divided by the number of collection kits shipped to patients 60 or more days prior to June 19, 2015.