Exact plummets on USPSTF screening guidelines

Exact Sciences Corp. (NASDAQ:EXAS) plunged $8.55 (46%) to $9.98 on Tuesday after the U.S. Preventative Services Task Force (USPSTF) issued draft guidelines that listed Cologuard as an alternative screening test, rather than a recommended test, for colorectal cancer.

If finalized, the recommendation may hinder the company's reimbursement negotiations with private payers. On a conference call Tuesday, Chairman, President and CEO Kevin Conroy said the USPSTF decision was different from "what we and most people expected." ...