On March 23, 2026, Abbott Laboratories (NYSE: ABT) completed its acquisition of Exact Sciences for $105.00 per share in cash, representing a total equity value of approximately $21 billion (enterprise value of approximately $23 billion). The acquisition establishes Abbott as a leader in the fast-growing oncology diagnostics market and adds a new high-growth vertical to Abbott's portfolio. On March 13, 2026, Walgreens announced a nationwide initiative to offer Cologuard through its pharmacies, enabling eligible average-risk customers to request the at-home colorectal cancer screening test via pharmacist-led services. In Q1 2026, Exact Sciences (reported as Abbott's Cancer Diagnostics business) contributed $96 million in revenue with 13.4% comparAble sales growth, driven by double-digit growth of Cologuard and sales of Cancerguard. Abbott projects full-year 2026 adjusted diluted EPS of $5.38 to $5.58, which includes $0.20 of dilution related to the Exact Sciences acquisition.
Company Profile (Updated April 2026)
Exact Sciences Corporation is a leADINg American molecular diagnostics company focused on cancer screening and precision oncology. Headquartered in Madison, Wisconsin, USA, the company was founded in 1995 and has grown into one of the most influential diagnostic companies in oncology. Exact Sciences operates through two Primary business segments: Screening (led by Cologuard and PreventionGenetics) and Precision Oncology (led by Oncotype DX and liquid biopsy products). Its products are used by more than 16 million patients globally and are available in over 90 countries.
Development History:
- 1995: Exact Sciences founded in Madison, Wisconsin, with a mission to develop novel molecular diagnostic tests for early cancer detection
- 2014: Cologuard (stool DNA colorectal cancer screening test) receives U.S. FDA approval and is granted a National Coverage Determination by Medicare, becoming the first noninvasive CRC screening test of its kind
- 2019: Acquires Genomic Health, Inc. for approximately $2.8 billion, adding the Oncotype DX portfolio of tissue-based genomic tests for breast, colon, and prostate cancer; this transforms Exact Sciences into a major precision oncology player
- 2020: Acquires PreventionGenetics, a genetic testing laboratory specializing in hereditary cancer and rare disease testing
- 2022: Sells the Oncotype DX GPS prostate cancer business to MDxHealth for up to $100 million to focus on core breast, colon, and pipeline assets
- 2024: Launches Cologuard Plus, the next-generation stool-based DNA test with improved sensitivity and specificity; Guardant Health's Shield blood-based CRC test receives FDA clearance, intensifying competition
- 2025: Reports full-year revenue of $3.247 billion (U.S. $3.145 billion; International $102 million); in Q4, announces exclusive U.S. license agreement with Freenome Holdings for blood-based colorectal cancer screening tests (subject to Freenome receiving first-line FDA approval); presents pivotal ALTUS study results demonstrating that Oncoguard Liver blood test delivers superior early-stage and overall sensitivity for hepatocellular carcinoma vs. standard of care; presents first Oncodetect MRD data in breast cancer from the NSABP B-59 substudy; launches Cancerguard, a multi-cancer early detection blood test
- 2026: On January 12, presents real-world data at ASCO GI 2026; on March 7–10, showcases Oncodetect and Cancerguard multi-cancer early detection data at AACR 2026; on March 13, Walgreens announces nationwide Cologuard pharmacy program; on March 23, acquired by Abbott Laboratories for $105.00 per share in cash; stock halted and suspended from Nasdaq effective March 24, 2026
Core Mission: To help patients and healthcare providers win the fight against cancer through earlier detection, precise treatment guidance, and effective monitoring of molecular residual disease, thereby improving outcomes and saving lives.
Product Portfolio ＆ Technology Platform
Cologuard ＆ Cologuard Plus (Colorectal Cancer Screening)
Cologuard is a noninvasive, at-home stool-based DNA (sDNA) screening test for colorectal cancer (CRC) in average-risk adults aged 45 and older. It detects altered DNA and hemoglobin biomarkers in stool samples that may indicate the presence of cancer or advanced adenomas.
Cologuard Plus (launched 2024/2025) represents the next-generation test with enhanced sensitivity and specificity compared to the original Cologuard, strengthening Exact Sciences' competitive position against emerging blood-based alternatives.
Key Metrics:
- Used by more than 16 million patients cumulatively
- Walgreens nationwide rollout announced March 13, 2026, enabling pharmacy-based access
- Addresses an estimated $18 billion U.S. colorectal cancer screening market
- Current market penetration estimated at 10–12% of the 110 million eligible American population
Cancerguard (Multi-Cancer Early Detection)
Cancerguard is a multi-cancer early detection (MCED) blood test launched in 2025. It is designed to detect multiple cancer types from a single blood sample through circulating tumor DNA and other biomarker analysis. In Q1 2026, Cancerguard contributed to Cancer Diagnostics revenue growth alongside Cologuard.
Oncotype DX (Precision Oncology)
Oncotype DX is a suite of tissue-based genomic tests that analyze the expression of specific genes in tumor tissue to provide individualized recurrence risk and chemotherapy benefit predictions.
Test Menu:
- Oncotype DX Breast Recurrence Score: Predicts chemotherapy benefit and recurrence risk in early-stage invasive breast cancer; incorporated into NCCN and ASCO guidelines
- Oncotype DX Colon Recurrence Score: Assesses recurrence risk in stage II colon cancer
- Oncotype DX Breast DCIS Score: Evaluates risk of local recurrence for ductal carcinoma in situ
- Used in over 90 countries and supported by extensive clinical validation
OncoExTra (Comprehensive Genomic Profiling)
OncoExTra is a liquid-based comprehensive genomic profiling (CGP) test that analyzes circulating tumor DNA (ctDNA) from a blood sample to identify actionable mutations and guide targeted therapy selection across multiple cancer types.
Oncodetect (Molecular Residual Disease)
Oncodetect is Exact Sciences' molecular residual disease (MRD) test designed to detect minimal amounts of circulating tumor DNA after surgery or treatment to predict recurrence risk. In Q4 2025, the company announced first clinical study results from the NSABP B-59 substudy in collaboration with the NSABP Foundation and the German Breast Group, demonstrating that Oncodetect strongly predicts distant recurrence following surgery in patients with early triple-negative breast cancer.
Oncoguard Liver (Liver Cancer Screening)
Oncoguard Liver is a blood-based test for hepatocellular carcinoma (HCC), the most common form of liver cancer. In Q4 2025, the pivotal ALTUS study demonstrated that Oncoguard Liver delivers superior early-stage and overall sensitivity compared to the current standard of care (ultrasound plus AFP), positioning it as a potential new standard for HCC surveillance in at-risk populations.
PreventionGenetics (Hereditary Testing)
PreventionGenetics, acquired in 2020, provides hereditary cancer and rare disease genetic testing services, complementing Exact Sciences' oncology portfolio with germline risk assessment capabilities.
Financial Performance
2025 Fiscal Year (Last Independent Reporting Period)
- Total Revenue: $3.247 billion (+17.7% year-over-year)
- U.S. Revenue: $3.145 billion
- International Revenue: $102 million
- Screening Revenue: Approximately 75% of total revenue (~$2.44 billion)
- Precision Oncology Revenue: $183 million in Q4 2025 (+14% YoY, +16% core revenue basis)
- Q4 2025 Screening Revenue: $695 million (+26% YoY)
- Gross Margin: 70% GAAP; 73% adjusted
- Net Loss (Q4 2025): $86 million ($0.45 per share)
- Adjusted EBITDA (Q4 2025): $63 million (7% margin)
- Operating Cash Flow (Q4 2025): $152 million
- Free Cash Flow (Q4 2025): $120 million
- Cash and Marketable Securities (End of Q4 2025): $965 million
Q1 2026 Under Abbott (Cancer Diagnostics Segment)
- Cancer Diagnostics Revenue (Q1 2026): $96 million
- Comparable Sales Growth: 13.4%
- Growth Drivers: Double-digit growth of Cologuard and sales of Cancerguard
- Geographic Breakdown: U.S. $93 million; International $3 million
Acquisition Terms (March 2026)
- Acquisition Price: $105.00 per share in cash
- Total Equity Value: Approximately $21 billion
- Enterprise Value: Approximately $23 billion
- Acquirer: Abbott Laboratories (NYSE: ABT)
- Closing Date: March 23, 2026
- Shareholder Approval: Approved at special meeting on February 20, 2026
- Regulatory Clearance: Hart-Scott-Rodino waiting period expired in Q4 2025
- Stock Status: Nasdaq trading halted March 20, 2026; suspended effective March 24, 2026
- 2026 EPS Impact: Abbott projects $0.20 dilution to 2026 adjusted EPS
Company Overview
Corporate Information
Company Name: Exact Sciences Corporation
Founded: 1995
Headquarters: Madison, Wisconsin, USA
Former Stock Exchange: Nasdaq (EXAS) — suspended March 24, 2026
Parent Company: Abbott Laboratories (100% ownership since March 23, 2026)
Company Type: Public Company (Formerly Independent; Now Wholly Owned Subsidiary)
Industry: Molecular Diagnostics / Cancer Screening / Precision Oncology
Employees: Approximately 7,200
Subsidiaries ＆ Affiliates
- PreventionGenetics: Hereditary cancer and rare disease genetic testing (Marshfield, WI; founded 2004)
- Exact Sciences Canada: Operations in Dartmouth, Canada (founded 2012)
- Exact Sciences Thrive: Located in Cambridge, MA (founded 2020)
- Cg Growth: Located in Madison, WI (founded 2019)
Leadership (Pre-Acquisition)
Chairman ＆ CEO: Kevin Conroy
- Led the company through the Genomic Health acquisition, Cologuard commercial expansion, and ultimately the sale to Abbott
Key Executives:
- Jeff Elliott: Former President, Precision Oncology (oversaw Oncotype DX integration and global expansion)
- Commercial Leadership: Extensive urology, oncology, and primary care sales organizations supporting Cologuard and Oncotype DX portfolios
Global Market ＆ Competitive Landscape
Target Markets
United States: Core market representing the vast majority of revenue; deep payer relationships including Medicare, Medicaid, and major commercial insurers; direct-to-consumer and physician-channel marketing; Walgreens pharmacy partnership (March 2026)
International: Oncotype DX used in 90+ countries; Cologuard primarily U.S.-focused with expansion potential through Abbott's global infrastructure
Post-Acquisition Strategy: Abbott plans to leverage its global diagnostics commercial infrastructure to scale Exact Sciences' products internationally, particularly in emerging markets
Primary Competitors
- Guardant Health (USA): Shield blood-based CRC screen (FDA-cleared mid-2024); competing liquid biopsy and MRD tests
- Grail (Illumina): Galleri multi-cancer early detection (MCED) blood test
- Natera (USA): Signatera tumor-informed MRD test; direct competitor in postoperative monitoring
- Freenome (USA): Blood-based CRC screening (Exact Sciences holds exclusive U.S. license subject to FDA approval)
- Quest Diagnostics ＆ Labcorp (USA): Low-cost FIT tests, colonoscopy referrals, and large-scale laboratory services
- Myriad Genetics (USA): Hereditary cancer testing and precision oncology
- Veracyte (USA): Genomic diagnostics and pathology-focused oncology tests
Competitive Advantages
- Cologuard Market Dominance: Near-monopoly in stool-DNA CRC screening with 16+ million patient base and strong payer contracts
- Oncotype DX Guideline Inclusion: Incorporated into NCCN and ASCO guidelines in 90+ countries, creating high switching costs
- Dual-Segment Synergy: Unique combination of population-level screening (Cologuard) and individualized treatment guidance (Oncotype DX) under one platform
- Abbott Global Scale: Acquisition provides access to Abbott's 160-country distribution network, shared R＆D, and diagnostics manufacturing expertise
- Pipeline Breadth: Active development in MRD (Oncodetect), multi-cancer early detection (Cancerguard), liver cancer blood tests (Oncoguard Liver), and blood-based CRC screening (via Freenome license)
- Reimbursement Foundation: Medicare coverage for Cologuard and strong commercial payer relationships provide stable revenue base
2026 Outlook ＆ Strategic Priorities (Under Abbott)
Near-Term Objectives
- Integration with Abbott: Complete operational and commercial integration into Abbott's Diagnostics division; leverage Abbott's global infrastructure for international expansion
- Walgreens Partnership Execution: Scale Cologuard access through nationwide pharmacy workflows to close care gaps and increase screening volumes
- Oncodetect ＆ Cancerguard Development: Advance MRD and multi-cancer early detection pipelines with Abbott's R＆D and regulatory resources
- Oncoguard Liver Commercialization: Prepare for potential launch of the liver cancer blood test based on ALTUS study data
- Freenome License Monetization: Support Freenome's pursuit of first-line FDA approval for blood-based CRC screening to activate exclusive U.S. rights
- Revenue Contribution: Abbott projects full-year 2026 comparable sales growth of 6.5% to 7.5%, with Exact Sciences contributing meaningfully to the Diagnostics segment
Contact Information
Corporate Headquarters
Address: 550 S. Park Street, Madison, Wisconsin 53715, USA
Phone: +1 (608) 535-2099
Parent Company
Abbott Laboratories
Address: 100 Abbott Park Road, Abbott Park, Illinois 60064, USA
Stock Exchange: New York Stock Exchange (Ticker: ABT)
Website: www.abbott.com
Online Presence
Website: www.exactsciences.com
Investor Relations: investor.exactsciences.com
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