Exact Sciences Submits Final Module and Completes Cologuard Premarket Approval Application to FDA, Expands Role of COO Arora
MADISON, Wis.--(BUSINESS WIRE)--
Exact Sciences Corp. (Nasdaq: EXAS) today announced that it has
submitted to the U.S. Food and Drug Administration the final module of
the premarket approval (PMA) application for Cologuard™, the company's
stool DNA (sDNA) colorectal cancer screening test. The final module,
which is comprised of data from the company's DeeP-C clinical trial,
completes the company's PMA application for the product.
The DeeP-C trial is one of the most extensive colorectal cancer
screening studies ever conducted in the United States. It analyzed data
from approximately 10,000 patients at 90 sites between the ages of 50
and 84 who were at average risk for colorectal cancer.
"The completion of our PMA submission to the FDA is the most significant
milestone in the company's history and a big step forward in helping
physicians make the battle against colorectal cancer a winning one,"
said Kevin T. Conroy, the company's president and chief executive. "I
want to thank the tremendous team at Exact Sciences and our
collaborators for their outstanding work. We share a passion for
delivering our breakthrough colorectal cancer screening test to the
physicians and patients who need it. Now, we look forward to continuing
to work with the FDA through the review process."
The final module was submitted to the FDA on Friday, June 7.
A modular PMA submission is one in which the contents of a PMA are
broken into clearly defined parts or modules. These modules are
submitted separately over time and comprise a complete PMA when all of
them have been completed. The FDA reviews each module as it is received,
which may allow for more rapid closure of the application.
The company will submit the DeeP-C study's pivotal data set for
publication in a peer-reviewed journal, presentation at a major medical
meeting or both.
The company also announced the expansion of Maneesh K. Arora's chief
operating officer responsibilities to include the oversight of U.S.
sales and marketing. The company is in the process of building out its
commercial leadership team and is also conducting a search for a senior
"Maneesh is an invaluable partner who has been instrumental in
developing the company's commercial strategy and is the best person to
lead a successful launch of Cologuard," Mr. Conroy said.
About Exact Sciences Corp.
Exact Sciences Corp. is a molecular diagnostics company focused on the
early detection and prevention of colorectal cancer. The company has
exclusive intellectual property protecting its noninvasive, molecular
screening technology for the detection of colorectal cancer. Stool-based
DNA technology is included in the colorectal cancer screening guidelines
of the American Cancer Society and the U.S. Multi-Society Task Force on
Colorectal Cancer. For more information, please visit the company's
website at www.exactsciences.com.
Certain statements made in this news release contain forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities and 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," "could,"
"seek," "intend," "plan," "estimate," "anticipate" or other comparable
terms. Forward-looking statements in this news release may address the
following subjects among others: statements regarding the sufficiency of
our capital resources, expected operating losses, anticipated results
and timing of our pivotal clinical trial, expectations concerning our
ability to secure FDA approval of our Cologuard test, expected license
fee revenues, expected research and development expenses, expected
general and administrative expenses and our expectations concerning our
business strategy. Forward-looking statements involve inherent risks and
uncertainties which could cause actual results to differ materially from
those in the forward-looking statements, as a result of various factors
including those 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 urge you to consider those risks and uncertainties in evaluating our
forward-looking statements. We caution readers not to place undue
reliance upon any such forward-looking statements, which speak only as
of the date made. Except as otherwise required by the federal securities
laws, we disclaim any obligation or undertaking to publicly release any
updates or revisions to any forward-looking statement contained herein
(or elsewhere) to reflect any change in our expectations with regard
thereto or any change in events, conditions or circumstances on which
any such statement is based.
Corporate Communications Contact:
The Luminis Group Ltd for
Exact Sciences Corp.
Rod Hise, 608-770-7850
Jane Hauser, 781-684-0770
Source: Exact Sciences Corp.
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