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Home » Exact Sciences boosts its Q3 top line

Exact Sciences boosts its Q3 top line

November 3, 2009 By MassDevice staff

The climate in the Badger State seems to agree with Exact Sciences Corp., which swung from negative revenues to positive top-line numbers during the third quarter and narrowed its Q3 net loss, four months after moving to Madison, Wis.

The colorectal cancer screening firm posted sales of $1.3 million during the three months ended Sept. 30, compared with negative revenues of $663,000 during the same period last year. The company pegged the reversal to a non-cash contribution from the $17.2 million IP deal it struck in January with Genzyme Corp.

Net losses narrowed to $1 million for the quarter, down nearly 35 percent compared with net losses of $3 million during the third quarter of 2008.

President and CEO Kevin Conroy said the company is on target for getting its non-invasive, stool-based DNA screen for colorectal cancer into clinical trials. Conroy cited a deal to license Hologic‘s Invader molecular detection platform and integrate it into its test.

Exact Sciences pulled up stakes in Marlborough, Mass., in June after landing a $1 million loan from Wisconsin to cover the move.

Filed Under: Business/Financial News, Diagnostics, MassDevice Earnings Roundup

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