Exact Sciences (EXAS) Goldman Sachs 45th Annual Global Healthcare Conference summary

Strategic vision and growth outlook

• Aims to help eradicate cancer through prevention, early detection, and treatment guidance, targeting 15% revenue growth from 2022–2027 and over 20% adjusted EBITDA margins by 2027.

• Cologuard is now the second most common colon cancer screening method in the U.S., with rapid growth and a robust commercial platform.

• Oncotype DX holds a dominant position in early-stage breast cancer diagnostics, with 90% U.S. market share and expanding international adoption.

• International expansion, especially in Japan, is accelerating, with plans to introduce additional tests globally.

• The company is investing in automation, aiming for $200 million in annualized savings by 2030.

Product innovation and pipeline

• Cologuard Plus, with improved cancer and precancer detection and lower false positives, is expected to launch in late Q1 or early Q2 next year, pending FDA approval.

• A blood-based colon cancer screening test is in pivotal trials, with data expected in October; the test is designed for cost-effectiveness and to reach patients refusing other methods.

• The pipeline includes tests for liver, esophageal, and endometrial cancers, leveraging the established commercial infrastructure.

• Minimal residual disease (MRD) testing is a major focus, with plans to leverage the Oncotype DX platform and commercial relationships.

Commercial infrastructure and market strategy

• A unique, large-scale primary care salesforce enables broad physician and patient outreach, supporting both current and future test launches.

• The Care Gap program, in partnership with 60 payers and 30 health systems, targets unscreened populations and is driving significant growth.

• Rescreening is expected to grow from 20% to 50% of revenue, with higher compliance rates among repeat users.

• Adherence rates for Cologuard are projected to exceed 70% as rescreens increase, supported by digital and customer care initiatives.