Exact Sciences Corporation (EXAS)

Exact Sciences Corporation was a molecular diagnostics company known for cancer screening and diagnostic tests. It was founded in 1995 and began as a research-driven company working on DNA-based detection of colorectal cancer, and it later established its headquarters and main laboratory operations in Madison, Wisconsin. Its shares traded on the Nasdaq Global Select Market under the symbol EXAS after an initial public offering in 2001.

The company's best-known product, Cologuard, is a noninvasive stool-based DNA test for colorectal cancer and precancerous polyps. It received approval from the U.S. Food and Drug Administration in 2014 and was developed with technology licensed from the Mayo Foundation for Medical Education and Research. Exact Sciences built a large direct sales force and a patient outreach operation, and Cologuard became the main driver of its revenue.

In 2019, Exact Sciences acquired Genomic Health, the maker of the Oncotype DX gene expression tests used to guide treatment decisions in breast, prostate and colon cancer, in a transaction valued at roughly $2.8 billion. The company also expanded into other areas, including precision oncology testing and residual disease monitoring, and it acquired additional diagnostics businesses. During the COVID-19 pandemic it offered laboratory testing services, which later declined.

Its development pipeline included blood-based tests for earlier detection and monitoring, among them the Oncodetect test for molecular residual disease and Cancerguard, a multi-cancer early detection test. Growth in screening volumes, competition from other colorectal screening methods and the cost of expanding the laboratory and sales organizations were recurring themes in its financial reports.

In November 2025, Abbott Laboratories agreed to acquire Exact Sciences for $105.00 per share in cash, valuing the equity at roughly $21 billion. For Abbott, the deal added cancer screening and diagnostics to a portfolio of medical devices, diagnostics, nutrition and pharmaceuticals. Exact Sciences stockholders approved the merger at a special meeting held in early 2026.

The acquisition was completed in March 2026, and Exact Sciences became a wholly owned subsidiary of Abbott. A Form 25 was filed with the SEC on March 23, 2026 to remove the company's common stock from listing on Nasdaq. Abbott said that it would continue to offer Cologuard, Oncotype DX and the company's other tests as part of its diagnostics business.

Following completion, Exact Sciences no longer files periodic reports as an independent public company, and its former shareholders received the cash consideration. Abbott's own shares continue to trade on the New York Stock Exchange under ABT. The Form 25 becomes effective ten days after filing under the SEC's rules, completing the exchange delisting.