BUZZ-Exact Sciences gains on higher Medicare pricing for cancer screening test

Reuters2024-11-26

** Shares of cancer test developer Exact Sciences EXAS.O rise ~9% to $60 premarket

** Co's colon cancer screening test receives 16% higher pricing for government-backed Medicare plans for those aged 65 years and older

** Next-generation version of EXAS' non-invasive stool screening test, Cologuard Plus, receives ~16% increase in Medicare reimbursement price, compared with its original version

** "We believe it strengthens the thesis around margin leverage and sets up EXAS to exceed the 20% EBITDA margin by 2027," Piper Sandler analysts say

** Up to last close, stock down ~26% YTD

(Reporting by Mariam Sunny in Bengaluru)

((Mariam.ESunny@thomsonreuters.com;))

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