Exact Sciences Announces Positive Results For Cancer Diagnostics Screening

DNA - Blue

Exact Sciences is experiencing a wild After-Hours Ride Today.  It has dropped significantly below 6.50 then back up to 8.57 and now back down to 6.75.  I wonder about a flash crash happening in after hours trading and how much investors are selling off their stocks.  Right now Exact is down 1.83 at 6.74 a 21% loss.  But it will be right back up tomorrow so I'm not sure what is really going on.  Massive afterhours sell-off is causing a crash.  Take a look at afterhours trading news here at Marketwatch:  EXAS

Now is not a time to sell as trading Friday could be significant gains with news of a successful Diagnostic testing for Colon Cancer screening.  But what is going on with Investment Banks right now in after hours trading is somewhat troubling.  How much is controled in after hours trading is a mystery to me, but I know it is not the average investor making these moves.  Internal trades are happening at this moment but why is the price of Exact Sciences dropping so much.  Trading was halted earlier today in anticipation of the news release.  Here is that news. 

Exact Sciences says colon cancer test successful

* Screening test detects 64 pct pre-cancers

* Detects 85 pct cancers
* Exact Sciences test detects 87 percent of tumors

* Finds 64 percent of pre-cancerous growths (Adds details on 2nd test, refiles to fix headline)

WASHINGTON, Oct 28 (Reuters) - A new kind of test that finds evidence of colon cancer in the stool can also detect pre-cancerous growths, and could potentially be an alternative to colonoscopies, researchers reported on Thursday.

Exact Sciences'(EXAS.O) new test detected 87 percent of stage I, II and III colon tumors, which can be surgically removed, and found 64 percent of the biggest pre-cancerous growths, the researchers told a meeting of the American Association for Cancer Research.

It finds altered DNA that has either turned a cell cancerous, or has started the changes that lead to cancer.

"The noninvasive stool DNA test we have developed is simple for patients, involves no diet or medication restriction, no unpleasant bowel preparation, and no lost work time, as it can be done from home," said Dr. David Ahlquist of the Mayo Clinic in Rochester, Minnesota, who developed the test.

"Positive tests results would be followed up with colonoscopy."

Mayo has licensed the test to Exact Sciences, which believes it has the potential to reach sales of $1 billion in the United States alone. [ID:nSGE62M0L7]

The test looks for three genes that have been altered in a process called methylation.

Colorectal tumors develop in the lining of the colon and in the rectum. As fecal matter passed through the tract, it collects some cells from these growths. The test can find even tiny amounts of altered DNA from these growths in a stool sample.

Studies of 1,100 patients showed the test detected 64 percent of precancerous growths called adenomas that were bigger than 1 cm (0.4 inch), which is considered the size most likely to turn into a tumor.

It found 85 percent of cancers, and 87 percent of the earlier stage cancer that can be cured by surgical removal.


"This is the first study of a stool DNA test to show such promising results in detecting colorectal pre-cancer," Ahlquist said in a statement.

"Colorectal cancer is a treatable disease if caught early, and this test shows great promise as a potential addition to other available screening tools."

Colorectal cancer is the second leading cancer killer in the United States and other developed countries.

The American Cancer Society estimates there will be about 122,000 new cases of colon cancer in 2010, with more than 51,000 deaths.

It recommends that all Americans start getting tested for the disease at age 50.

In standard colonoscopies, a tiny camera is threaded up through the rectum. The device has a little pair of clippers on the end to remove suspicious looking growths called polyps so they can be tested to see if they might become cancerous.

But only about half of those who should get tested do, in part because the procedure is embarrassing, uncomfortable and can, in rare cases, cause injury.

Exact Sciences hopes a home-based test would be a big seller and health experts hope it would encourage more people to get screened.

The company has said earlier it would aim for a charge of about $300 to $400 per test, and plans to submit for U.S. Food and Drug Administration approval in 2012.

Danish biotech company Exiqon (EXQ.CO) and Belgian biotech firm OncoMethylome (ONCOB.BR) are developing blood tests for colon cancer [ID:nLQ464331] [ID:nN29250147].

German company Epigenomics (ECXG.DE) tested 8,000 people getting colonoscopies and told a meeting in Spain on Thursday their blood test detected 67 percent of colon tumors.

Exact Sciences says colon cancer test successful

* Screening test detects 64 pct pre-cancers

* Detects 85 pct cancers

Oct 28 (Reuters) - Exact Sciences (EXAS.O) said a preliminary study showed its cancer screening test, Cologuard, was successful in detecting cancers and pre-cancers, and plans to start clinical trials next year.

The non-invasive, genetic screening test had detected 64 percent of colorectal pre-cancer and 85 percent of colorectal cancer.

The company said the study met goals for cancer detection and exceeded for pre-cancer detection.

In an interview earlier this year, the company had told Reuters it plans to start a clinical trial by the second or third quarter of 2011. [ID:nSGE62M0L7]

The study, conducted in collaboration with Mayo Clinic, examined more than 1,100 patients, the company said.

The Madison, Wisconsin-based company's shares, which have risen 80 percent since the company filed for a mixed shelf of up to $150 million in August, were halted at Nasdaq pending the news.

They were up 2.63 at $8.57 Thursday before the halt.

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