Exact Sciences unveils blood test for cancer, COVID-19 self-test
Exact Sciences has unveiled early research for the company’s liquid biopsy cancer screening test and has gained FDA authorization for an at-home COVID-19 swab test, according to reports from Wisconsin State Journal and Wisbusiness.com. The company’s stock jumped 25% on the news of the cancer blood test Thursday to close at $94.31.
The test would screen biomarkers in the blood to detect multiple types of cancer. An early study of the blood test found that it could identify 83% to 87% of cases that had esophageal, liver, lung, ovarian, pancreatic, or stomach cancers with about a 5% rate of false positives.
FDA approval of the Exact Sciences self-administered swab test allows testing without the help of a medical professional. The company is partnering with businesses to provide testing supplies. The business gets the specimen collected and transported back to Exact Sciences’ Madison lab for testing. Businesses are then responsible for notifying employees of results.