EXACT Sciences Tanked Following Colon Cancer Screening Snub

MADISON, Wis. (TheStreet) -- An independent panel of health care experts didn't include Exact Sciences' (EXAS - Get Report) Cologuard on a draft list of recommended colon cancer screening tests in the U.S.

The disappointing Cologuard review caused Exact Sciences' shares to slide 43% Tuesday to a two-year low on fears that the Madison, Wis.-based company will find it more difficult to win favorable reimbursement from private insurers.

Exact Sciences CEO Kevin Conroy, speaking on a Tuesday morning conference call, said the decision by the U.S. Preventive Services Task Force to omit Cologuard from its draft list of recommended colon cancer screening tests was "different from what we and most people expected."

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