In the premarket Wednesday, August 22, 2018, Exact Sciences Corporation (NASDAQ:EXAS) announced their collaboration with Pfizer Inc. (NYSE:PFE) Exact Sciences stated that Pfizer will assist in co-promoting their new state of the art screening test called Cologuard. Cologuard is designed to screen for colorectal cancer and is actually the first-and-only FDA-approved non-invasive test of its kind. Colorectal cancer is the 3rd most common types of cancer to affect both genders, as well as one of the “big four” tumor types. The cancer is also the second leading in terms of death, with over 50,000 related deaths annually. Fortunately, companies such as Exact Sciences and Pfizer are making it easier for people to detect Colorectal cancer early on in its development. All-in-all, many market researches state that the Colorectal cancer market will reach a cap of “10.8 Billion by 2022.”
Exact Sciences Corporation (NASDAQ:EXAS) focuses on molecular diagnostics for early detection and prevention of various forms of cancer. Their primary offering, Cologuard, is a non-invasive cancer screening test that specializes in detecting colorectal cancer. The screening test specifically “utilizes a multi-target approach to detect deoxyribonucleic acid (DNA) and hemoglobin biomarkers associated with colorectal cancer and pre-cancer.” In addition to Cologuard, Exact Sciences also develops test of other forms of cancer such as their blood-based biomarker test which is designed “to aid in the early detection of lung cancer in individuals with lung nodules.” EXAS currently up 23% on the day in reaction to the news with Pfizer.
Pfizer Inc. (NYSE:PFE) is a well-known biopharmaceutical company that engages in the research, development, and manufacturing of healthcare products. Pfizer is known for some of their brands such as Viagra, and Celebrex. The company breaks itself down into two segments, with Innovative Health focusing on new medicines and vaccines whilst Essential Health focuses on legacy brands, sterile injectable products, and infusion systems.