EXAS - Exact Sciences Corporation (EXAS) Q1 2024 Earnings Call Transcript

2024-05-08 21:14:07 ET

Exact Sciences Corporation (EXAS)

Q1 2024 Earnings Conference Call

May 08, 2024, 05:00 PM ET

Company Participants

Erik Holznecht - Manager, IR

Kevin Conroy - Chairman and CEO

Jeff Elliott - CFO

Aaron Bloomer - EVP of Finance

Everett Cunningham - Chief Commercial Officer

Conference Call Participants

Catherine Schulte - Baird

Vijay Kumar - Evercore ISI

Doug Schenkel - Wolfe Research

Patrick Donnelly - Citi

Dan Arias - Stifel

Jack Meehan - Nephron Research

Andrew Brackmann - William Blair

Puneet Souda - Leerink Partners

Matt Sykes - Goldman Sachs

Dan Brennan - TD Cowens

David Westenberg - Piper Sandler

Mark Massaro - BTIG

Eve Burstein - Bernstein Research

Presentation

Operator

Thank you for standing by. My name is Danica, and I will be your conference operator today. At this time, I would like to welcome everyone to the Exact Sciences First Quarter 2024 Earnings Call. [Operator Instructions] Thank you.

I would now like to turn the call over to Erik Holznecht, Manager, Investor Relations. Please go ahead.

Erik Holznecht

Thank Danica, thank you for joining us for Exact Sciences' first quarter 2024 conference call. On the call today are Kevin Conroy, the company's Chairman and CEO; Jeff Elliott, our Chief Financial Officer; and Aaron Bloomer, Executive Vice President of Finance, who we recently announced as our next Chief Financial Officer; Everett Cunningham, our Chief Commercial Officer, will also be available for questions.

Exact Sciences issued a news release earlier this afternoon detailing our first quarter financial results. This news release and today's presentation are available on our website at exactsciences.com. During today's call, we will make forward-looking statements based on current expectations. Our actual results may be materially different from such statements. Discussions of non-GAAP figures and reconciliations to GAAP figures are available in our earnings press release and descriptions of - the risks and uncertainties associated with Exact Sciences are included in our SEC filings. Both can be accessed through our website.

I'll now turn the call over to Kevin.

Kevin Conroy

Thanks, Erik.

The Exact Sciences team is off to a strong start to the year. During the first quarter, we advanced our purpose of helping to eradicate cancer by further embedding Cologuard as standard of care, increasing adoption of Oncotype DX internationally and deepening our relationships with health systems, payers and patients. Highlights from the first quarter include testing more than 1 million people globally for cancer and rare diseases. Being recognized as a Gallup Exceptional Workplace, a prestigious award given to only 60 companies worldwide, increasing Cologuard adoption in large health systems, organized screening programs among payers and in federally qualified health clinics.

Expanding the number of Oncotype DX international ordering providers by more than 20% year-over-year, making progress towards moving our precision oncology portfolio onto Exact Nexus, our proprietary IT plan. Launching our hereditary cancer test risk guard to our oncology channel. Announcing the New England Journal of Medicine published results of our pivotal BLUE-C study, which will support FDA approval of Cologuard Plus and generating evidence to support future including OncoDetect, our molecular residual disease test. These achievements reflect our commitment to solving the needs of patients and health care providers, and we're well positioned to achieve our goals for the year....

For further details see: