LabCorp did about 8,000 tests in one year with then PreGen-Plus, no FDA or CMS approval either and they had 900 sales people selling and no major 3rd party payer willing to write policy for a then $795 test. EXAS has lab capacity of 80,000/month (about 1 million tests) and though my estimate is low as you pointed out I do see ramping up once policy decisions are made by insurers and doctors are confident that patients will not be on the hook for $595. Billing is key, doctors will quickly abandon tests that are not covered. I do not see any problem here with EXAS it will just take 3-5 moths to obtain coverage decisions by commercial payers.
Please do. I think it is just a web master issue, since other parts of the same web site talk about the newly approved sDNA test. Even the link for sDNA under the heading of "Unapproved Tests" takes you to a page that says it is approved.
I was pleasantly surprised to be able to sell some Sept 18 puts Thursday afternoon for 0.30 while the stock was trading at 19.20. Easy money.
The vast majority of doctors, PA’s & CRNP’s will want to use Cologuard. My doctor just enrolled and he ordered the test on me this past Friday, awaiting now for Exact Sciences to contact me. It is very important now to get commercial payors to write policy for this test and being in this business for over 35 years I can tell you it will take several months before they issue coverage decisions. For now, Exact Sciences will attempt billing them with existing CPT codes and more likely get reimbursed because testing volumes are limited and “under their radar” so to speak, however, this will change quickly and I suspect we will be getting news flashes from EXAS when insurers adopt Cologuard. Insurers know this is a screening paradigm change and it will increase dramatically their prevention screening costs. It is probably a good strategy to focus on self-insured employers and large integrated health systems ( ie., Mayo Clinics) who typically pay claims directly or go through third party administrators to facilitate reimbursements.
My guess between now and the end of the 1Q2015 EXAS will have performed 20,000 tests.
Sentiment: Strong Buy
Doctor is aware of it through me, willing to order it but my coverage is still uncertain. Will be seeing him again in four mos. so hopefully then there will be more clarity. I may just pay for it myself. Like many others here can certainly afford it with the gain on EXAS stock!!
When I asked my doctor a few weeks ago, he already knew about it. I am due for a 2nd colonoscopy (first one 10 years ago) and will opt for Cologuard instead. My doctor said he would also do Cologuard instead of Colonoscopy. He is nearing 50. I need to wait for Anthem Blue Cross to cover it. Not sure how long that wait will be, maybe early next year.
Calling Colon Cancer Alliance first thing Monday to ask why they still have DNA stool testing as "UNAPPROVED". Maybe we all could contact them.
Sentiment: Strong Buy
I'm only in my 30's and wasn't well prepared for a sale pitch but I brought it up to my doctor when I was in a week ago for routine physical. hopefully I piqued his interest enough to look into it.
To see if they are enrolled with Exact Sciences?
If your doctor is enrolled, have you requested the test?
Have you asked friends to do the same?
Screening is important, and we (longs) are all in sales now.
I hear that samsato!
This guy #$%$ LSD and farts psilocybin mushroom clouds!
Then he asks his followers to drink a large glass of "Kool-Aid".
I say no, no no.
Apparently this old man has not only blown hot smoke up your derriere, he's completely inflated your bubble! My but you are gullible!!!
Sentiment: Strong Sell
The AP writer was paid to write the KERX article by some crooked hedge funds in advance of the release of approval. Article was out before the public even got the news. Someone was dumping before that. It was beyond premeditated and collusive. About the worst case of illegal trading I've ever seen. Close to whatever Tilson and Brokemeier hatch on this stock once a year. None of these hedge funds should be able to own more than a half a percent of anything, and if they do, offer a public opinion on anything. Of course, they'd just get 40 of them together at the weekend pool parties to plan their attack. If it seems like I feel the markets are corrupt....you'd be right on.
Awesome, EXAS and KERX.... my two largest holdings. FML. Interestingly, I had MELA for a time too. I'm starting to think I'm being singled out.
Yep, KERX sitting there around $18.00, then right before the halt, an hour or so before it took place, the stock dove over a buck. Then an AP hit piece comes out before it reopens, and the stock tumbles again. Currently trading in the $13.00's FOR A DRUG THAT GOT APPROVED!!!! Not to mention the AP piece was rewritten 2 more times after numerous people complained about the many errors in the article. Too late, as damage was done. Look what's happening hear. Cologuard approved, and we are currently only $2.00 higher than before the approval. Meanwhile you see ICPT and PUMA go through the roof, and they have no marketable products at the current time.