SAN DIEGO - Exact Sciences Corp. (NASDAQ: NASDAQ:EXAS), a leading cancer screening and diagnostics company, recently showcased data from its ASCEND-2 study at the American Association for Cancer Research (AACR) Annual Meeting. The data demonstrated high sensitivity and specificity for its investigational multi-biomarker class, multi-cancer early detection (MCED) blood test. This test aims to improve the early detection of various cancer types, particularly those that are aggressive and lack standard screening procedures.
The ASCEND-2 study is a substantial, multi-center, prospective, case-control study involving over 11,000 participants from diverse racial, ethnic, and geographic backgrounds, reflecting the U.S. population. The study's objective is to refine the algorithm and identify biomarkers for the final design of Exact Sciences' Cancerguard™ test. The participants include individuals aged 50 and over, with known cancer, suspected cancer, and controls without cancer.
The first analysis of the ASCEND-2 study's refined MCED test showed an overall sensitivity of 50.9% and a specificity of 98.5%. When excluding breast and prostate cancer from the analysis, the sensitivity increased to 56.8%. Notably, the sensitivity was 54.8% for cancers that do not have standard-of-care screening for average-risk populations and 63.7% for the most aggressive cancers with the shortest 5-year survival rates.
In addition to the ASCEND-2 findings, Exact Sciences presented outcomes from the DETECT-A study, which enrolled over 10,000 women with no history of cancer. The study investigated whether a blood test combined with standard screenings could detect cancers before symptoms appeared. The DETECT-A study's MCED test, CancerSEEK, was a precursor to the Cancerguard test currently in development.
The Cancerguard test is being designed to detect multiple cancers from a single blood draw, utilizing a variety of biomarker classes to spot cancers at earlier stages. The goal is to achieve high specificity to minimize false positives while detecting multiple cancers. The Cancerguard test has not yet been approved by the U.S. Food and Drug Administration or any other regulatory authority.
Exact Sciences is known for its Cologuard® and Oncotype® tests and is focused on developing innovative solutions for cancer detection and diagnosis. The company's latest findings offer a glimpse into the future potential of cancer screening, with the hope of significantly impacting early detection and patient outcomes.
The information provided is based on a press release statement from Exact Sciences Corp. and was presented at the AACR Annual Meeting on Monday.
InvestingPro Insights
As Exact Sciences Corp. (NASDAQ: EXAS) makes strides in the field of cancer diagnostics with its promising Cancerguard™ test, the company's financial metrics and analyst outlooks offer additional context for investors. With a market capitalization of $12.85 billion, Exact Sciences is a significant player in the diagnostics space. However, the company's current P/E ratio stands at a negative -46.09, reflecting its lack of profitability over the last twelve months as of Q4 2023. This aligns with the InvestingPro Tips, which indicate that analysts do not expect the company to be profitable this year. Despite this, the company has shown strong revenue growth, with a 19.93% increase in the last twelve months as of Q4 2023.
On the liquidity front, Exact Sciences' financial health appears robust. One of the InvestingPro Tips highlights that the company's liquid assets surpass its short-term obligations, suggesting a solid financial position to sustain its operations and investments in research and development. Additionally, while the company does not pay a dividend, reflecting a reinvestment strategy into its growth and development, it has provided a strong return over the last month, with a 16.97% increase in its stock price.
For investors seeking a deeper dive into the company's financials and future outlook, there are additional InvestingPro Tips available. By visiting https://www.investing.com/pro/EXAS, investors can find a comprehensive analysis, including more tips to guide their investment decisions. To enhance the value of their subscription, users can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 7 more tips listed on InvestingPro, investors can gain a more nuanced understanding of Exact Sciences' potential in the ever-evolving landscape of cancer diagnostics.
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