Exact Sciences says its new colon cancer test shows 30% lower false positive rate

[June 21, 2023]  (Reuters) - Exact Sciences said on Tuesday its next-generation screening test for colon cancer showed 30% lower false positive rate for detecting the disease in a study when compared to trial data on its already approved test.

The company said it plans to complete submission of its marketing application for the new test to the U.S. Food and Drug Administration (FDA) by the end of this year.

The company reported $1.43 billion in revenue last year from its screening business, primarily from sales of its colon cancer test Cologuard, which was approved by the FDA in 2014.

Views of Exact Sciences medical supplies inventory at the United Parcel Service's Supply Chain campus in Louisville, Kentucky, August 15, 2016. REUTERS/John Sommers/File Photo

Colorectal cancer is a leading cause of cancer deaths in the country and is estimated to lead to more than 52,000 deaths this year, according to government data.

(Reporting by Raghav Mahobe in Bengaluru; Editing by Maju Samuel)

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