NASDAQ: EXAS 67.62
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4:00 PM ET on Jul 20, 2018
Volume: 1,093,864
NASDAQ: EXAS 67.62
+0.01 +0.01% Minimum 20 min delay
4:00 PM ET on Jul 20, 2018
Volume: 1,093,864

Mark Stenhouse to join Exact Sciences as President, Cologuard

03/20/2018

After leading HUMIRA sales and marketing to create a blockbuster drug, Abbott Laboratories/AbbVie executive to join Cologuard team

MADISON, Wis., March 20, 2018 /PRNewswire/ -- Exact Sciences Corp. (Nasdaq: EXAS), the company that developed and commercialized Cologuard®, the only FDA-approved, noninvasive stool DNA-based test for early detection of colorectal cancer, today announced that Mark Stenhouse has been appointed to the new role of president, Cologuard. Stenhouse, vice president, U.S. Immunology at AbbVie, will assume this new position on April 2, 2018.

Exact Sciences Corporation Logo (PRNewsfoto/EXACT SCIENCES CORP)

"More than 85 million people are eligible to be screened with Cologuard, and Mark brings the experience and passion to help us reach further into this enormous population," said Kevin Conroy, chairman and CEO of Exact Sciences. "Mark's track record launching and guiding a product to blockbuster status, and his experience within the field of gastrointestinal diseases, makes him the ideal leader to amplify our early success after launching Cologuard."

At Abbott Laboratories/AbbVie, Stenhouse leads the sales and marketing teams for one of the most successful pharmaceutical products, the anti-inflammatory drug HUMIRA®. The top-selling drug in the United States for the fifth straight year, it generated $18.4 billion in worldwide net revenue and accounted for 65 percent of AbbVie's total net revenue in 2017.

"The story of Exact Sciences and the science powering Cologuard are incredibly compelling, which is why I'm enthusiastic about accepting this opportunity," Stenhouse said. "There's nothing more important to me than leading a team of smart people who engage collaboratively and lean in to their mission. I view this as an opportunity to take a highly innovative screening test that fills an unmet healthcare need, and which has already undergone the most successful launch of any diagnostic product in history, to the next level. Exact Sciences truly captures it all – the highest quality science, committed people, and the value its products offer."

Stenhouse spent nearly 30 years at Abbott Laboratories/AbbVie, where he was first hired for a field sales position. He steadily worked his way through product management and sales management to become national sales director in the U.S. Immunology-Gastroenterology franchise. From there, he rose to marketing director, followed by senior director of commercial initiatives. In 2010, Stenhouse was appointed a general manager within the company before being promoted to vice president. He earned a Bachelor of Science in business administration from College of Charleston.

About Cologuard
Cologuard was approved by the FDA in August 2014 and results from Exact Sciences' prospective 90-site, point-in-time, 10,000-patient pivotal trial were published in the New England Journal of Medicine in March 2014. Cologuard is included in the American Cancer Society's (2014) colorectal cancer screening guidelines and the recommendations of the U.S. Preventive Services Task Force (2016) and National Comprehensive Cancer Network (2016). Cologuard is indicated to screen adults of either sex, 50 years or older, who are at average risk for colorectal cancer. Cologuard is not for everyone and is not a replacement for diagnostic colonoscopy or surveillance colonoscopy in high-risk individuals. False positives and false negatives do occur. Any positive test result should be followed by a diagnostic colonoscopy. Following a negative result, patients should continue participating in a screening program at an interval and with a method appropriate for the individual patient. Cologuard performance when used for repeat testing has not been evaluated or established. For more information about Cologuard, visit www.cologuardtest.com. Rx Only.

About Exact Sciences Corp.
Exact Sciences Corp. is a molecular diagnostics company focused on the early detection and prevention of the deadliest forms of cancer. The company has exclusive intellectual property protecting its non-invasive, molecular screening technology for the detection of colorectal cancer. For more information, please visit the company's website at www.exactsciences.com, follow Exact Sciences on Twitter @ExactSciences or find Exact Sciences on Facebook.

Safe Harbor Statement
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the "safe harbor" created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "would," "could," "seek," "intend," "plan," "goal," "project," "estimate," "anticipate" or other comparable terms. All statements other than statements of historical facts included in this news release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding expected future operating results, anticipated results of our sales and marketing efforts, expectations concerning payer reimbursement and the anticipated results of our product development efforts. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully and profitably market our products and services; the acceptance of our products and services by patients and healthcare providers; our ability to meet demand for our products and services; the willingness of health insurance companies and other payers to cover Cologuard and adequately reimburse us for our performance of the Cologuard test; the amount and nature of competition from other cancer screening and diagnostic products and services; the effects of the adoption, modification or repeal of any healthcare reform law, rule, order, interpretation or policy; the effects of changes in pricing, coverage and reimbursement for our products and services, including without limitation as a result of the Protecting Access to Medicare Act of 2014; recommendations, guidelines and quality metrics issued by various organizations such as the U.S. Preventive Services Task Force, the American Cancer Society, and the National Committee for Quality Assurance regarding cancer screening or our products and services; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, licensing and supplier arrangements; our ability to maintain regulatory approvals and comply with applicable regulations; and the other risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Exact Sciences Corp
Contact: J.P. Fielder
+1 608-210-5220
jpfielder@exactsciences.com

 

Cologuard Logo (PRNewsFoto/EXACT SCIENCES CORPORATION) (PRNewsfoto/EXACT SCIENCES CORP)

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