PFE - A Cancer Diagnostics Company You Should Own Today
Exact Sciences (NASDAQ: EXAS) markets a diagnostic test called Cologuard for the detection of colorectal cancer, the second deadliest cancer in America with more than 51,000 deaths annually. Early detection can be life-changing. According to the company, 90% of patients can live for five years or more if their cancer is detected at either Stage I or II. If diagnosed late at stage IV, only one in 10 patients will live for five years.
Eighty-seven million people in the U.S. over the age of 50 make up the initial target for Cologuard. On Sept. 23, the U.S. Food and Drug Administration (FDA) approved an expansion for the use of the test in people aged 45 and older. This 45 to 49-year-old segment adds another 19 million people, making 106 million Americans eligible for the test. That's almost one-third of the U.S. population. Exact believes it's an $18 billion market, and that Cologuard is in the early innings for market adoption.
Image Source: Exact Sciences