Why Exact Sciences Stock Is Moving Higher After Hours

Exact Sciences Corp EXAS shares are rising in extended trading Tuesday after the cancer screening and diagnostics company said its Cologuard test demonstrated 94% sensitivity for colorectal cancer at 91% specificity. 

The Details: Exact Sciences announced positive top-line results from its BLUE-C study showing that Cologuard met all study endpoints and improved on all top-line metrics, including a 30% lower false positive rate. 

"We are harnessing deep scientific insights, advanced technology, and over a decade of research and development to detect colorectal cancer with greater sensitivity and significantly improve the false positive rate. Once approved, next-generation Cologuard will meaningfully enhance the patient experience," said Kevin Conroy, chairman and CEO of Exact Sciences.

In the coming months, Exact Sciences said it plans to release additional analyses of the BLUE-C data and complete its application to the FDA for Cologuard approval.

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EXAS Price Action: Exact Sciences shares were up 2.81% after hours at $96.99 at the time of publication, per Benzinga Pro.

Photo: courtesy of Exact Sciences.