Exact Sciences gains as Cologuard revenues grow

Exact Sciences Corp. (NASDAQ:EXAS) gained $3.75 (30%) to $16.21 on Tuesday after reporting 2Q16 revenues of colorectal cancer test Cologuard that beat expectations, and a narrower than expected loss per share in the quarter.

Revenues in 2Q16 were $21.2 million, up 43% sequentially from $14.8 million in 1Q16 and ahead of analysts' $18.5 million consensus. Revenues were also up from $8.1 million in 2Q15. The company said it completed about 54,000 Cologuard tests during 2Q16, compared to about 40,000 in 1Q16 and 21,000 tests in 2Q15. Its average recognized revenue per test was $391 in 2Q16. ...