Why Exact Sciences Stock Sank Today
Shares of Exact Sciences (NASDAQ: EXAS) were sinking 9.2% as of 2:52 p.m. EST on Wednesday. Exact Sciences announced Q4 revenue of $466.3 million, up nearly 58% year over year and above the Wall Street consensus estimate of $446 million. Exact Sciences' research and development expense was much greater than what analysts projected due to the acquisition of Base Genomics.