Biotech company Exact Sciences confirmed Monday an improved version of its colorectal cancer test that would lead to earlier identification of patients at risk for the disease is expected to hit the market in the next six months.
The announcement came after the Marlborough, Massachusetts-based company’s stock rose 11 percent or $0.18 to $1.79 on Friday. Shares closed up $0.01 to $1.80 on Monday.
“A future test would also pick up all stages [of colorectal cancer] and adenomas, a pre-cancerous condition,” Harry W. Wilcox, Exact Sciences chief executive, told RedHerring.com.
The company, which said it’s the only developer of DNA cancer testing kits for stool samples, is hoping that its current test, marketed by Laboratory Corporation of America Holdings (LabCorp), will be included in the guidelines of the American Cancer Society.
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