Exact Sciences is DOOMED!

[anonymous]

Stock price is trading at 20.4 times revenue. This company is drastically overvalued! They did 265m in 2017 revenue and posted a 165m loss!!!! How is this even possible? Their 10k statement is a cautionary tale. There press release touts revenue increase but does not mention the losses. Most investors don;t even read the 10k, but I do. Reach the entire 10k and all you Exact employees will see the company is doomed! Don no tbeleive they type! The test sucks and they know it! Also the FDA may pull approval. If you don't believe me here is statement from Exacts SEC 10k:

"The FDA granted premarket approval (“PMA”) for Cologuard in August 2014. That PMA approval places substantial restrictions on how Cologuard is marketed and sold, specifically, by prescription only. Additionally, the regulations governing our approval require controls on Cologuard, including, but not limited to, manufacturing facility registration, product listing with the FDA, complying with labeling requirements, maintenance of a satisfactory quality management system, and meeting post-market surveillance requirements. In addition, as a condition of our FDA approval, we are required to conduct a post-approval study. There can be no assurance that the results of this study will be satisfactory and will not cause the FDA to modify or withdraw our approval for Cologuard."

Exact knows the study will not be satisfactory! They are working day and night to improve the test, but can't get any results better than the FIT tests. The test does not work as most doctors will attest. If the test worked, they would perform about 2m tests per year. They only performed about 550k tests!

This test is a joke!

 

[anonymous]

Stock price is trading at 20.4 times revenue. This company is drastically overvalued! They did 265m in 2017 revenue and posted a 165m loss!!!! How is this even possible? Their 10k statement is a cautionary tale. There press release touts revenue increase but does not mention the losses. Most investors don;t even read the 10k, but I do. Reach the entire 10k and all you Exact employees will see the company is doomed! Don no tbeleive they type! The test sucks and they know it! Also the FDA may pull approval. If you don't believe me here is statement from Exacts SEC 10k:

"The FDA granted premarket approval (“PMA”) for Cologuard in August 2014. That PMA approval places substantial restrictions on how Cologuard is marketed and sold, specifically, by prescription only. Additionally, the regulations governing our approval require controls on Cologuard, including, but not limited to, manufacturing facility registration, product listing with the FDA, complying with labeling requirements, maintenance of a satisfactory quality management system, and meeting post-market surveillance requirements. In addition, as a condition of our FDA approval, we are required to conduct a post-approval study. There can be no assurance that the results of this study will be satisfactory and will not cause the FDA to modify or withdraw our approval for Cologuard."

Exact knows the study will not be satisfactory! They are working day and night to improve the test, but can't get any results better than the FIT tests. The test does not work as most doctors will attest. If the test worked, they would perform about 2m tests per year. They only performed about 550k tests!

This test is a joke!

Mr. Citron is back to cry some more... You don't give up do you? You shorted us and keep losing money. Go troll your shit somewhere else, we aren't buying it here.

 

[anonymous]

Former employee here... for everything I could complain about regarding management of the field, I have never doubted the significance of the test. It is well-studied and fills a huge need for colorectal cancer screening. The fact is, it is much better than the fecal occult test, easy to do and provides much-needed information for the doctor and patient. Any screening is better than no screening at all and many people will put off colonoscopy for a long, long time. The easier and better the test, the more people will get screened. People are uninformed and that is why the numbers are low. Go and do a study on how many fecal occult tests (FIT) are sent out and the number that are actually completed. That is one of the benefits of Cologuard and the compliance engine behind it.

 

[anonymous]

Former employee here. There was definitely more false positives than advertised and telling doctors there is nothing I can do about billing issues became old really fast. The 100 sloppy pushups Diane did are a perfect allegory. Exact Sciences is to focused on Wall Street growth so they use dubious accounting techniques (orders, shipments, completed tests etc, etc), and their quota system becomes untenable as territory volumes increase. I was treated fairly and have nothing bad to say about the people in general but the focus on growth should be balanced with quality. Won’t happen though because the company’s philosophy values speed over precision. It’s still crazy to me they run that company like big Pharma. It could have been so innovative and efficient but whatever...good luck, we’re all people, so chill out.

 

[anonymous]

Former employee here. There was definitely more false positives than advertised and telling doctors there is nothing I can do about billing issues became old really fast. The 100 sloppy pushups Diane did are a perfect allegory. Exact Sciences is to focused on Wall Street growth so they use dubious accounting techniques (orders, shipments, completed tests etc, etc), and their quota system becomes untenable as territory volumes increase. I was treated fairly and have nothing bad to say about the people in general but the focus on growth should be balanced with quality. Won’t happen though because the company’s philosophy values speed over precision. It’s still crazy to me they run that company like big Pharma. It could have been so innovative and efficient but whatever...good luck, we’re all people, so chill out.

Please elaborate on how you know (and please provide proof, other than your opinion) that there were more false positives than advertised? Did you complete a 10k patient study? Did ANY of your ordering providers screen 10k patients with CG to base their opinion?

 

[anonymous]

Another former employee here...my 65yo mother recently had a false positive (followed up with colonoscopy and zero issues) AND she got a $550 bill from BCBS. Love my new job btw.

 

[anonymous]

Mr. Citron is back to cry some more... You don't give up do you? You shorted us and keep losing money. Go troll your shit somewhere else, we aren't buying it here.

I am not Citron. Just a person that knows what they are talking about!I like how you did not try refute anything I said. I posted about ongoing reporting to the FDA on here before and I was told I did not know what I am talking about. If you don't believe anything I wrote then you are misinformed. Read the current SEC 10k filing. All the information you need is in it> Don't be blinded by the hype. Do your homework before arguing with me. This company is being set up for a big fall. Look at all the stock being sold at the inflated pricing. See if it is management selling. I know the answer to that and it is not good. There are also tons of products that will hit the market in the next 1-2 years that will destroy this test. Again, that is in the 10k as well. I stand by all of my comments, especially my comment about testing volume. They should be performing 2m per year and only did 550k last year, while projecting 900k in 2018. That is far too low.

 

[anonymous]

Another former employee here...my 65yo mother recently had a false positive (followed up with colonoscopy and zero issues) AND she got a $550 bill from BCBS. Love my new job btw.

Who cares? Your Mom should have checked with her insurance before doing the test and YOU should have educated her on the false positive rate. One false positive means nothing. Move along!

 

[anonymous]

I am not Citron. Just a person that knows what they are talking about!I like how you did not try refute anything I said. I posted about ongoing reporting to the FDA on here before and I was told I did not know what I am talking about. If you don't believe anything I wrote then you are misinformed. Read the current SEC 10k filing. All the information you need is in it> Don't be blinded by the hype. Do your homework before arguing with me. This company is being set up for a big fall. Look at all the stock being sold at the inflated pricing. See if it is management selling. I know the answer to that and it is not good. There are also tons of products that will hit the market in the next 1-2 years that will destroy this test. Again, that is in the 10k as well. I stand by all of my comments, especially my comment about testing volume. They should be performing 2m per year and only did 550k last year, while projecting 900k in 2018. That is far too low.

Identify yourself and back up your claims with sources if you are so confident that you know what you are talking about... We're waiting.

Why do you continue to come back to this thread??? What is your reason for posting on the ES threads??? Nothing you have predicted is coming true... Prove me wrong!

 

[anonymous]

Who cares? Your Mom should have checked with her insurance before doing the test and YOU should have educated her on the false positive rate. One false positive means nothing. Move along!

The discussion was about false positives and she had one. I spend my time educating doctors on more than one shitty test (pun intended) and will make $100k more this year than I did at Exact. How's your Kool-Aid? Loser.

 

[anonymous]

The discussion was about false positives and she had one. I spend my time educating doctors on more than one shitty test (pun intended) and will make $100k more this year than I did at Exact. How's your Kool-Aid? Loser.

Loser? Says the person who goes back to their old employers thread. LMAO! I have never gone back to an old employers thread to brag, complain, NOTHING. Why waste your time here if your so happy at your new job? You are transparent and WEAK!

 

[anonymous]

Once again you prove yourself very shallow and stupid with your dime store theology. You really don't grasp the concept of God at all. Even if you are an atheist, the concept of God dictates that hearing everything simultaneously would be pathetically easy for Him.

 

[anonymous]

Well folks (Sparky that includes you) I'm back from vacay and resuming duties keeping Sparky in line. First thing I noticed? Ted apparently no longer feels Trump owes Heidi an apology. Maybe he's had enough of her by now too? LMFAO! Anyway, now he sees why our boy won an d he wants some!

 

[anonymous]

Loser? Says the person who goes back to their old employers thread. LMAO! I have never gone back to an old employers thread to brag, complain, NOTHING. Why waste your time here if your so happy at your new job? You are transparent and WEAK!

YOU ARE = YOU'RE. You are dumb.

 

[anonymous]

YOU ARE = YOU'RE. You are dumb.

Oh the grammar police... GO FUCK YOURSELF!!!

 

[anonymous]

I am not Citron. Just a person that knows what they are talking about!I like how you did not try refute anything I said. I posted about ongoing reporting to the FDA on here before and I was told I did not know what I am talking about. If you don't believe anything I wrote then you are misinformed. Read the current SEC 10k filing. All the information you need is in it> Don't be blinded by the hype. Do your homework before arguing with me. This company is being set up for a big fall. Look at all the stock being sold at the inflated pricing. See if it is management selling. I know the answer to that and it is not good. There are also tons of products that will hit the market in the next 1-2 years that will destroy this test. Again, that is in the 10k as well. I stand by all of my comments, especially my comment about testing volume. They should be performing 2m per year and only did 550k last year, while projecting 900k in 2018. That is far too low.

That is all standard FDA and SEC language. Nothing new, nothing to be concerned with, just things taken out of context.

Lots of scrambling going on to try and discredit CG, but CG is here to stay. It is a solid test, with the best data in the CRC screening arena to support it’s utilization.

The quotas are too aggressive, but that is what happens in the venture capital world that EXAS has to operate in. Nobody should be surprised with this, and if you are, you are either inexperienced, or simply naive.

Anyone who tries to tell you CG is doomed, is just making noise, and probably an ex-employee who quit too soon, or got cut, or a short seller in the world of Wall Street.

CG is not the end all, be all, answer in the world if CRC. But it is revolutionary, and an amazing technology. It is here here to stay.

 

[anonymous]

That is all standard FDA and SEC language. Nothing new, nothing to be concerned with, just things taken out of context.

Lots of scrambling going on to try and discredit CG, but CG is here to stay. It is a solid test, with the best data in the CRC screening arena to support it’s utilization.

The quotas are too aggressive, but that is what happens in the venture capital world that EXAS has to operate in. Nobody should be surprised with this, and if you are, you are either inexperienced, or simply naive.

Anyone who tries to tell you CG is doomed, is just making noise, and probably an ex-employee who quit too soon, or got cut, or a short seller in the world of Wall Street.

CG is not the end all, be all, answer in the world if CRC. But it is revolutionary, and an amazing technology. It is here here to stay.

Well said.

 

[anonymous]

That is all standard FDA and SEC language. Nothing new, nothing to be concerned with, just things taken out of context.

Lots of scrambling going on to try and discredit CG, but CG is here to stay. It is a solid test, with the best data in the CRC screening arena to support it’s utilization.

The quotas are too aggressive, but that is what happens in the venture capital world that EXAS has to operate in. Nobody should be surprised with this, and if you are, you are either inexperienced, or simply naive.

Anyone who tries to tell you CG is doomed, is just making noise, and probably an ex-employee who quit too soon, or got cut, or a short seller in the world of Wall Street.

CG is not the end all, be all, answer in the world if CRC. But it is revolutionary, and an amazing technology. It is here here to stay.

It's decent teach - but is in danger of becoming obsolete. That being said I don't think sales or tech is the real issue. The management / culture will probably be Exact's downfall. Having leaders in the Sales org getting swept up in the Me too movement is never a good sign.

 

[anonymous]

Former employee here. There was definitely more false positives than advertised and telling doctors there is nothing I can do about billing issues became old really fast. The 100 sloppy pushups Diane did are a perfect allegory. Exact Sciences is to focused on Wall Street growth so they use dubious accounting techniques (orders, shipments, completed tests etc, etc), and their quota system becomes untenable as territory volumes increase. I was treated fairly and have nothing bad to say about the people in general but the focus on growth should be balanced with quality. Won’t happen though because the company’s philosophy values speed over precision. It’s still crazy to me they run that company like big Pharma. It could have been so innovative and efficient but whatever...good luck, we’re all people, so chill out.

Interesting to see this. Had a phone interview with this company about 6 months ago, and the guy I interviewed with had his head lodged in his anus. He was a real moron.

 

[anonymous]

That is all standard FDA and SEC language. Nothing new, nothing to be concerned with, just things taken out of context.

Lots of scrambling going on to try and discredit CG, but CG is here to stay. It is a solid test, with the best data in the CRC screening arena to support it’s utilization.

The quotas are too aggressive, but that is what happens in the venture capital world that EXAS has to operate in. Nobody should be surprised with this, and if you are, you are either inexperienced, or simply naive.

Anyone who tries to tell you CG is doomed, is just making noise, and probably an ex-employee who quit too soon, or got cut, or a short seller in the world of Wall Street.

CG is not the end all, be all, answer in the world if CRC. But it is revolutionary, and an amazing technology. It is here here to stay.

This is not standard SEC or FDA language. CG was given a 5 year approval in 2015. This means starting year 3, 2018 they have to start submitting data on the efficacy of the test. I have spoken to over 100 GI's that said 75% of the CG tests are wrong! They get a lot of positives, go in for the colonoscopy and find nothing. They are not happy with the test and therefore more and more are not ordering it. CG is not here to stay. There are multiple tests on the way that will wipe out this test. There are several blood tests seeking FDA approval and 2 urine based tests seeking FDA approval. If these test get approval, CG will be gone. Give the patient a choice and they will choose urine, blood then stool in that order. CG was meant to be a 3-5 year test at best. Build up the volume and stock price and then dump the company. This is not a long term test. When the data is submitted later this year to the FDA, the approval may be pulled. The data will not back up the specificity and sensitivity. The test is just not all it promised to be!