Let me get this straight, you do almost 1m samples, record revenue and you still lost 100m for the year. Something is not right? Oh wait, the stock is soaring because Mayo Clinic owns the test and licensed exclusively to Exact. What a f**king scam this company is!
I don't think you understand how businesses run. Not a fan of Exact by any means, but Amazon operated on losses for 20 years. Tesla's valuation is higher than any of the Big 3 automakers. Losses <> failing business.
Excuse me, "specimens", "requisitions", "accessions". Who is the idiot? Anyone that works for a company that is losing money year after year!
Amazon was the exception as the retail sector lost money, but the cloud service made money and the business model was there, just needed time. Tesla is on the verge of bankruptcy! This is typical of companies today that are public. They are like the government, run at a loss, borrow by issuing bonds (stock) and say everything is fine. This company sucks and will be bankrupt in 2 years
Business is not really your thing is it??? People much smarter than you are taking care of things. Go back to mommy's basement now.
As long as the investors buy the stock then everything is fine. Fiat money is all trust. Trust makes it real, trust makes a company successful. All the gold standard talk belongs with Dave Ramsey and his ilk. Exact has existed or 20 years while running at losses or being totally obscure. Don't see the writing on the wall for bankruptcy in 2 years. More likely Pfizer buys them out - or rather Pfizer buys the rights to the license from the Mayo Clinic.
Trust is only there because of Mayo. New products are coming to market in the next 1-2 years that will make this test obsolete. Liquid biopsy tests are coming, but will cost way too much to make a dent in this market. Cologuard is too expensive for the insurers to keep paying for it. The cost needs to get cut in half for this test to be financially beneficial to the insurers. The test has not reduced the instances of colon cancer, it has only increased the number of patients getting their colonoscopies. The test is too little bang for the buck. I negotiate with insurers for lab developed tests, particularly 3 tests in the CRC space. I have been told by insurances and medicare that once the 3 test prove utility, they will be approved on an interim basis (like cologuard) and evaluated. It the numbers look good, cologuard will be out and the other tests will be in because the reimbursement will be $200-$250 for the new tests.
Won't other tests just run into the problem that CG runs into, Government interference? The powers that be insistence that colonoscopy is the gold standard in theory throttles any upstart in this space. Colonoscopy is: expensive (10x when compared to Cologaurd), time consuming and dangerous (in many cases does more harm than good). Until you can change the politics any non colonoscopy medical device will have the inability to achieve true ubiquity. I really think there can be a market for Cologaurd and other options as long as colonoscopy's artificial grip on the market is loosened.
CG has too high a false positive rate to beat the colonoscopy. That is the issue. Once the government see CRC rates are not falling even with better colonoscopy compliance due to CG they will stop paying the extra $500 to get the population to go for colonoscopy. CG is a scam put forth by Mayo, CMS & FDA to pay back Mayo for all the cuts due to Obamacare and PAMA.
