SAN DIEGO, May 15, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has commenced an investigation into whether certain officers and directors of Exact Sciences (NASDAQ: EXAS) violated federal laws.
On May 15, 2017, Citron Research issued a report on Exact Sciences. In this article, Citron stated that "Exact Sciences pushes a cancer test (Cologuard) to the public, inferior by its own admission, and loses money doing it." Cologuard is a branded laboratory based scan for DNA traces in stool samples indicating colorectal cancer.
Citron cited a recent report from United Healthcare, the biggest managed healthcare company in the US that:
Fecal DNA testing for colorectal cancer screening and/or monitoring is unproven and not medically necessary. There is insufficient published evidence in the clinical literature supporting the diagnostic accuracy of fecal DNA tests to screen for colorectal cancer in asymptomatic, average-risk patients. The gold standard for colorectal cancer screening is optical colonoscopy. There is insufficient published evidence comparing fecal DNA testing to optical colonoscopy. In fact, there is insufficient published clinical evidence that fecal DNA testing reduces the likelihood of mortality from colorectal cancer [United Health Care, 2017].
Citron states that "key metrics not disclosed by Exact Sciences are getting worse, while Medicare pricing inefficiencies end next January and investors will be left with a decaying asset with no terminal value." Citron goes on to say that "Poop in a box will probably be a medical dinosaur in 4 years and the value of Exact's only asset will be 0".
If you have information that could assist in this investigation, or if you are an Exact Sciences shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) by email or by phone at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP