Soglin questions Exact Sciences about falling stock value

Officials from Exact Sciences have two weeks to respond to inquiries about how the company’s recent stock value decline will affect its plans for the Judge Doyle Square development, according to a letter Madison Mayor Paul Soglin sent the company.

The Madison city council recently agreed to provide more than $46 million in public funds to help Exact Sciences relocate to Judge Doyle Square, just days before the company’s stock dropped precipitously following a recommendation from the U.S. Preventive Services Task Force that Exact Sciences’ colon cancer screening test be classified as an “alternative” rather than “recommended” test.

In his letter, Soglin requests answers on such questions as whether the company plans to appeal the recommendation, if the company has decided not to locate its headquarters at Judge Doyle Square, and if the expected number of employees they plan to hire has changed.