Exact Sciences down on 1Q18 Cologuard guidance

Exact Sciences Corp. (NASDAQ:EXAS) fell $2.62 to $42.37 Friday after providing first quarter projections that suggest it will have to play catch up the rest of the year to meet its 2018 guidance for total number of completed Cologuard tests. The company lost over $300 million in market cap on Friday's move. Cologuard is a non-invasive stool DNA test for colorectal cancer.

While Exact guided for 900,000 to 920,000 completed Cologuard tests this year, it only expects to complete 176,000 to 181,000 tests this quarter, or 20% using the midpoint of both figures...