Why Exact Sciences Stock Soared Today
Shares of Exact Sciences (NASDAQ: EXAS) were soaring 9.8% higher as of 3:38 p.m. EDT on Thursday. The company announced on Wednesday that new data for its Oncotype DX tests will be showcased at the upcoming American Society of Clinical Oncology (ASCO) annual meeting in June. However, the primary catalyst was Guardant Health's (NASDAQ: GH) announcement on Wednesday of results for its blood test for early-stage colorectal cancer.
It's not that Guardant Health's results for its Lunar-2 assay were bad; they weren't. The company reported an overall sensitivity of 91% in the detection of early-stage colorectal cancer with a specificity of 94%. Sensitivity is the ability of a test to correctly identify the presence of the disease, while specificity is the ability of a test to correctly identify people without the disease.
Image source: Getty Images.
Source Fool.com
