Exact Sciences Falls in After-Hours Trading on Q4 Results

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Exact Sciences (NASDAQ: EXAS) released its results for the fourth quarter of 2020 after market close on Tuesday. Investors indicated their displeasure by trading the stock down.For the period, the healthcare diagnostics specialist posted just over $466 million in revenue, which was nearly 58% higher on a year-over-year basis.On a less encouraging note, it flipped to a net loss of almost $437 million ($2.79 per share) on the bottom line. However, this was heavily affected by a nearly $413 research and development charge the company booked due to the acquisition of cancer diagnostics developer Base Genomics. In Q4 2019, Exact Sciences’ net income was almost $78 million.Continue reading
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