Exact Sciences Corporation (EXAS) Annual Evercore ISI HealthCONx Healthcare Conference (Transcript)

Exact Sciences Corporation (NASDAQ:EXAS) Annual Evercore ISI HealthCONx Healthcare Conference December 4, 2024 7:30 AM ET

Company Participants

Kevin Conroy – CEO
Aaron Bloomer – CFO

Conference Call Participants

Vijay Kumar – Evercore

Vijay Kumar

Great. Thanks everyone for joining us this morning. I’m Vijay Kumar, the Life Sciences and Device Analyst here at Evercore. A pleasure to have with us, the team from Exact Sciences. We have CEO, Kevin Conroy; and CFO, Aaron Bloomer. Kevin, Aaron, thank you for spending the time with us this morning.

Kevin Conroy

Thanks, Vijay. Great to be here.

Question-and-Answer Session

Q – Vijay Kumar

Great. So, maybe, I’ll start with the most topical, we just had the CLFS update, so maybe I’ll start with that before we head into the other review of 3Q and expectations of fiscal ’25. This was a surprise; the CLFS update was for us. Was it a surprise for you guys? And what’s the difference between CLFS and ADLT when you think about what it means to the business?

Kevin Conroy

Vijay, don’t you think it’s early in the morning for eight acronyms? I mean, here or eight different letters. My brain isn’t fully functioning at this point. But let me take a step back and talk about why we’re so excited about Cologuard Plus, which is what went through the pricing process and got a price through a particular pathway, the CDLT pathway that Vijay just referenced.

Cologuard Plus is a major improvement to Cologuard. And when you take a step back and you think about screening tests, arguably, Cologuard is the best screening test ever developed and widely adopted in the U.S. in terms of performance, sensitivity, and specificity. The sensitivity of Cologuard, 92% specificity 90%. 87%, if you look at all normals include — including people with small polyps.