Update on CMS Reimbursement for Cologuard®

MADISON, Wis.--()--The Centers for Medicare and Medicaid Services (CMS) has informed representatives of Exact Sciences that next week the agency will be issuing a correction to the 2015 lab fee schedule. Consistent with the November 25th final payment decision, CMS will reimburse Cologuard based on the national limit for CPT codes 82274, 81275 and 81315 which combined lead to a total reimbursement amount of $500.76.

About Exact Sciences Corp.

Exact Sciences Corp. (NASDAQ: EXAS) is a molecular diagnostics company focused on the early detection and prevention of colorectal cancer. The company has exclusive intellectual property protecting its noninvasive, molecular screening technology for the detection of colorectal cancer. Stool DNA technology is included in the colorectal cancer screening guidelines of the American Cancer Society and the U.S. Multi-Society Task Force on Colorectal Cancer. For more information, please visit the company's website at www.exactsciences.com, follow us on Twitter @ExactSciences or find us on Facebook.

Certain statements made in this news release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or other comparable terms. Forward-looking statements in this news release may address the following subjects among others: statements regarding the sufficiency of our capital resources, our ability to secure favorable reimbursement rates from Medicare and other third-party payors, timing of our launch of a commercial product, our estimates of the available market size and our potential penetration, expected research and development expenses, expected general and administrative expenses and our expectations concerning our business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Contacts

Media Contacts:
Exact Sciences
Cara Tucker, 614-302-5622
ctucker@exactsciences.com
or
MSLGROUP
781-684-0770
exactsciences@mslgroup.com

Release Summary

The Centers for Medicare and Medicaid Services (CMS) has informed representatives of Exact Sciences that next week the agency will be issuing a correction to the 2015 lab fee schedule.

Contacts

Media Contacts:
Exact Sciences
Cara Tucker, 614-302-5622
ctucker@exactsciences.com
or
MSLGROUP
781-684-0770
exactsciences@mslgroup.com