Shares of Exact Sciences Corp. stock declined in value Monday after the Madison-based company released preliminary fourth-quarter results on the use of its colorectal cancer screening test, the Wisconsin State Journal reports.
About 4,000 fewer of Exact’s Cologuard kits were used and returned to the company for processing during the fourth quarter than expected, though CEO Kevin Conroy noted the company expects to receive those kits during the first quarter of 2016.
Fourth quarter revenue for Exact is projected to be $14 million to $14.5 million, and $39 million to $39.5 million for all of 2015.
Exact also announced Monday that Anthem BlueCross of California will now cover Cologuard as an in-network service, meaning Exact Sciences can now enter into agreements with Anthem affiliates in other regions.
