EXACT Sciences Shares On The Move Following FDA Approval

Shares of EXACT Sciences Corporation EXAS are up sharply Friday morning following the company’s announcement that its stool DNA test to detect colorectal cancer has been approved for coverage by the Centers for Medicare and Medicaid Services.

The company reports that, “the approval makes it the only FDA stool test covered by Medicare.”

Shares of EXACT closed Thursday at $18.12 and were recently trading at $24.44, up 34 percent.