Shares of Exact Sciences Corp. rose nearly 7% Wednesday, the Madison maker of molecular diagnostic tests said, following an announcement that the Centers for Medicare and Medicaid Services voted to maintain Medicare’s current reimbursement price for the company’s non-invasive colon cancer screening test.
A CMS panel voted unanimously to approve a $492.72 price for Exact Sciences’ Cologuard test.
Cologuard was approved by the FDA in August 2014 and detects the presence in stool samples of red blood cells and DNA mutations that might indicate the presence of colon cancer or its precursors. CMS is expected to release its final pricing determination in November, effective Jan. 1, Exact Sciences said in a news release.
