Here's Why Exact Sciences Jumped Higher Today

Shares of Exact Sciences (NASDAQ: EXAS) are up 9.2% at 11:49 a.m. EST, having been up as much as 12% today, following the release of abstracts for the 2020 American Society of Clinical Oncology Gastrointestinal Cancers (ASCO-GI) Symposium yesterday evening.

Exact Sciences didn't seem to have any major presentations on its Cologuard colon cancer test at the meeting, but the healthcare company's potential private-company competitors did. And to Exact Sciences' benefit, they seem to fall short of being ready to compete with Cologuard.

Grail's Circulating Cell-free Genome Atlas study, which tests for tumor DNA in patients' blood, found 82% of all colon cancers, including 96% of stage 4 tumors, but only 72% of tumors in earlier stages 1-3.

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Source Fool.com