Exact Sciences posted first quarter 2019 revenues of $162 million, a 79 percent year-over-year increase.
Exact also notably submitted an application to expand Cologuard's indication to include the 45-49 age group. The American Cancer Society updated its guidance in 2018 to recommend adults begin colorectal cancer screening at 45.
Here's what you should know:
1. Approximately 334,000 Cologuard tests were completed in the quarter, a 79 percent year-over-year increase.
2. About 14,000 clinicians ordered Cologuard for the first time in the first quarter.
3. Exact posted a net loss of $83.1 million, or $0.66 per share, in the first quarter.
4. The company made an average of $483 in revenue per Cologuard test, a $2 loss. Additionally, Cologuard cost per test increased to $128, a $4 increase.
5. Exact raised its 2019 outlook to $725 million to $740 million, from $710 million to $730 million.
6. The company's stock hit its highest-ever point before earnings released, peaking at $99.58 April 30.
Company chairman and CEO Kevin Conroy said, "The strong start to 2019 gives us confidence our investments in people, facilities and partnerships will help us achieve our goal of screening at least 40 percent of the eligible U.S. population with Cologuard."