Combined company joins two leading brands in cancer
diagnostics, Cologuard® and Oncotype DX®, providing a strong
platform for continued growth
MADISON, Wisconsin,
Nov. 8, 2019 /PRNewswire/
-- Exact Sciences Corp. (NASDAQ: EXAS) today announced that it
has completed its previously announced combination with Genomic
Health, Inc. (NASDAQ: GHDX).
"Today marks a pivotal step toward building the world's leading
advanced cancer diagnostics company," said Kevin Conroy, chairman and CEO of Exact
Sciences. "We're excited to bring together some of the greatest
minds in cancer diagnostics and continue to deliver advanced tests
to providers and patients along their cancer journey. With a
best-in-class R&D, clinical, and commercial organization and a
global infrastructure, we are well positioned to increase adoption
of our existing tests and accelerate the development and launch of
future cancer diagnostics. I welcome the talented Genomic Health
employees to the Exact Sciences family and look forward to leading
our combined team as we enter our Company's next chapter."
As a result of the transaction's close, Genomic Health's common
stock will now cease to be traded on the NASDAQ.
Contacts
Investor Relations:
Megan
Jones
meganjones@exactsciences.com
608-535-8815
Media:
Cara
Connelly
cconnelly@exactsciences.com
614-302-5622
About Exact Sciences Corp.
A leading provider of
cancer screening and diagnostic tests, Exact Sciences relentlessly
pursues smarter solutions providing the clarity to take
life-changing action, earlier. Fueled by the success of Cologuard
and Oncotype DX, Exact Sciences is investing in its product
pipeline to take on some of the deadliest cancers and improve
patient care. Alongside its visionary collaborators and in
partnership with communities, Exact Sciences unites the best
resources to help advance the fight against cancer. For more
information, please visit the company's website at
www.exactsciences.com, follow Exact Sciences on Twitter
@ExactSciences, or find Exact Sciences on Facebook.
Forward-Looking Statements
This news release contains
forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of
the Securities 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," "would," "could,"
"seek," "intend," "plan," "goal," "project," "estimate,"
"anticipate" or other comparable terms. All statements other
than statements of historical facts included in this news release
regarding our strategies, prospects, financial condition,
operations, costs, plans and objectives are forward-looking
statements. Examples of forward-looking statements include, among
others, statements we make regarding expected future operating
results, anticipated results of our sales, marketing and patient
adherence efforts, expectations concerning payer reimbursement, the
anticipated results of our product development efforts and the
anticipated benefits of our acquisition of Genomic Health,
including estimated synergies and other financial impacts.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: our ability to successfully
and profitably market our products and services; the acceptance of
our products and services by patients and healthcare providers; our
ability to meet demand for our products and services; the
willingness of health insurance companies and other payers to cover
our products and services and adequately reimburse us for such
products and services; the amount and nature of competition from
other cancer screening and diagnostic products and services; the
effects of the adoption, modification or repeal of any law, rule,
order, interpretation or policy relating to the healthcare system,
including without limitation as a result of any judicial, executive
or legislative action; the effects of changes in pricing, coverage
and reimbursement for our products and services, including without
limitation as a result of the Protecting Access to Medicare Act of
2014; recommendations, guidelines and quality metrics issued by
various organizations such as the U.S. Preventive Services Task
Force, the American Cancer Society, and the National Committee for
Quality Assurance regarding cancer screening or our products and
services; our ability to successfully develop new products and
services and assess potential market opportunities; our ability to
effectively utilize strategic partnerships, such as through our
Promotion Agreement with Pfizer, Inc., and acquisitions; our
success establishing and maintaining collaborative, licensing and
supplier arrangements; our ability to maintain regulatory approvals
and comply with applicable regulations; expectations
regarding our international expansion and opportunities; the
potential effects of foreign currency exchange rate fluctuations
and our efforts to hedge such effects; the possibility that the
anticipated benefits from our acquisition of Genomic Health cannot
be realized in full or at all or may take longer to realize than
expected; the possibility that costs or difficulties related to the
integration of Genomic Health's operations will be greater than
expected; the outcome of any litigation, government investigations,
enforcement actions or other legal proceedings; and the other 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 undertake no obligation to publicly update any
forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future developments or otherwise.
Logo -
https://mma.prnewswire.com/media/506016/Exact_Sciences_Corporation_Logo.jpg
