Exact Sciences Corp at Evercore ISI HealthCONx Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Vijay Kumar - Evercore ISI Institutional Equities - Analyst : Great. So maybe I'll start with the most topical, we just had the CLFS update. So maybe I'll start with that before we head into the other review of 3Q and expectations of fiscal '25. This was a surprise, the CLFS update for us. Was it a surprise for you guys and what's the difference between CLFS and ADLT when you think about what it means to the business?

Question: Vijay Kumar - Evercore ISI Institutional Equities - Analyst : And maybe, Aaron, for you, what does this mean for fiscal '25, right, from a revenue uplift perspective, both revenues and non-gross margins if you will?

Question: Vijay Kumar - Evercore ISI Institutional Equities - Analyst : And maybe, Kevin, for you, the third quarter was when we had some moving parts, guidance was changed. If you could just walk us through on the commercial side, what happened, what changes were done? I think that would be helpful to understand this whole debate or questions around are we nearing market saturation for CG, Cologuard? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 04, 2024 / 12:30PM, EXAS.OQ - Exact Sciences Corp at Evercore ISI HealthCONx Conference

Question: Vijay Kumar - Evercore ISI Institutional Equities - Analyst : How long -- now that you've made these changes, the sales is calling this new cohort of physicians, right, how long does it take for us to see a change in ordering patterns?

Question: Vijay Kumar - Evercore ISI Institutional Equities - Analyst : And Aaron, I think beyond the sales force changes, I think hurricane and Nexus were a couple of items you called out which had some impact in Q4. What was the impact and are these now revenues which should come back in Q1 or what sort of right framework to think about revenue pushout? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 04, 2024 / 12:30PM, EXAS.OQ - Exact Sciences Corp at Evercore ISI HealthCONx Conference

Question: Vijay Kumar - Evercore ISI Institutional Equities - Analyst : I think you made some comments about fiscal '25. You sounded optimistic on rescreening and care gap program, right? Maybe talk to us on rescreening, what is that opportunity? How much can it drive growth? What are the assumptions underlying it? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 04, 2024 / 12:30PM, EXAS.OQ - Exact Sciences Corp at Evercore ISI HealthCONx Conference

Question: Vijay Kumar - Evercore ISI Institutional Equities - Analyst : And that itself, 1.6 million eligible going to 2 million, with perhaps increase in compliance rate, that should drive mid-singles uplift to screening revenue growth for '25?

Question: Vijay Kumar - Evercore ISI Institutional Equities - Analyst : And Kevin, can you touch upon this care gap program? Is that sustainable? What is driving this care gap acceleration? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 04, 2024 / 12:30PM, EXAS.OQ - Exact Sciences Corp at Evercore ISI HealthCONx Conference

Question: Vijay Kumar - Evercore ISI Institutional Equities - Analyst : And maybe one more on this care gap, Aaron. The contribution in fiscal '25, is that being driven by an increase in volumes under care gap program? If so, what gives you that visibility, right? Have you had these conversations with payers, providers?

Question: Vijay Kumar - Evercore ISI Institutional Equities - Analyst : And sorry, just to put a finer point on that, is that -- are we assuming that 24% return rate, that goes to 30%, something like that for -- to drive revenues?

Question: Vijay Kumar - Evercore ISI Institutional Equities - Analyst : And maybe switching on to some of the pipeline products, Kevin. MRD and blood 2.0 comes up. Maybe on MRD, right, you guys are the second entrant to that market. What is success for you in MRD? How do you plan to penetrate that market? Do you need differentiated clinical data, and what gives you the confidence that you have a differentiated offering?

Question: Vijay Kumar - Evercore ISI Institutional Equities - Analyst : And just maybe on those two points. On blood, just to be clear, you expect your performance to be at or about what's out there comparatively and on MRD, a similar kind of question, will this be clinically differentiated?

Question: Vijay Kumar - Evercore ISI Institutional Equities - Analyst : CRC blood. Will that be similar or about versus whatsoever? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 04, 2024 / 12:30PM, EXAS.OQ - Exact Sciences Corp at Evercore ISI HealthCONx Conference

Question: Vijay Kumar - Evercore ISI Institutional Equities - Analyst : And so sorry, a similar question on MRD. Will that be a differentiator versus what's available in the market?

Question: Vijay Kumar - Evercore ISI Institutional Equities - Analyst : Great. With that, I think, unfortunately, we're out of time. Kevin, Aaron, thank you for the time this morning.