Exact Sciences Corp at TD Cowen Healthcare Conference Summary

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

Question: Daniel Brennan - TD Cowen - Analyst : <_ALACRA_META_ABSTRACT>Great. So Kevin, I thought it'd just be great to have you start off by providing a brief review of the company's progress in 2024 and how the opportunity looks for Exact Sciences in 2025.

Question: Daniel Brennan - TD Cowen - Analyst : Terrific. Maybe we could start high level again on maybe the guidance for 2025 that you provided for 13% year-over-year screening growth. And as you mentioned, there's a lot of interesting leverage this year, excuse me, Cologuard plus better pricing. You've got momentum in care gap. You have obviously the rescreen opportunity, not to mention the MRD launch. So -- but I wanted to start of with the sales force, right? Because I know that came up towards the end of last year. kind of there was a kind of restructuring of the sales force or kind of reorientation of how they're doing business. Could you just kind of walk through again that kind of reorg maybe the impact that you're beginning to see it have and kind of what's kind of assumed for the benefit of that sales force maybe any more productive as we think about the guide?

Question: Daniel Brennan - TD Cowen - Analyst : Great. No, and we'll get into some of those underpinnings. But maybe I wanted to start so kind of at a high level here with the next question. And it relates to the Supreme Court case, right? On the fourth quarter call, Kevin, you gave some helpful commentary about what might take place if the Supreme Court upholds the Bradwell case, which we interpret to mean we'll end the commercial

Question: Daniel Brennan - TD Cowen - Analyst : Okay. Great. So let's maybe jump back in the screening and starting with Care Gap. -- success there has been terrific by our math. And I think if you disclosed this just simply, but 250,000 tests completed in 2024, right, about $125 million of revenue or so. And within your guidance, you talked about Care gap adding about 4 to 5 points to screening growth in 2025. You also talked about a flat adherence of 25% in 2025. So maybe the first question will be, Kevin. Just give us a sense of how that opportunity has been progressing? And when you think about the success you've had thus far and the adherence rate, is flat the right way to think about 25%? Or is there a lot of opportunity beyond that? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 03, 2025 / 3:30PM, EXAS.OQ - Exact Sciences Corp at TD Cowen Healthcare Conference

Question: Daniel Brennan - TD Cowen - Analyst : Great. Maybe just on Cologuard Plus in terms of the price lift that you're going to get, the 16% price lift that you were realized. And I think the guide basically implies kind of a portion of that gets implemented this year. Just can you walk through how it's going to flow through between the different fee-for-service and MA? And then how long will it take eventually get to get impacted more broadly across your customer base?

Question: Daniel Brennan - TD Cowen - Analyst : Right. And I think we talked about this on the call, but in terms of -- and you mentioned several times here, Kevin, the beneficial test profile, but yet it doesn't appear that you baked in any volume gains or incremental volume gains from more doctors using this test because it's a superior test. Just kind of walk through a little bit how you think about that, if it's not baked in this year, would you expect to see some volume uptick for Cologuard plus versus Cologuard.

Question: Daniel Brennan - TD Cowen - Analyst : Good. So maybe one more on this front, and then we'll jump to the pipeline. Just on the rescreen that's obviously been a tremendous success, and it kind of built right off of Cologuard itself. But you've really ramped up that kind of rescreen compliance rate, if you will. I'm just wondering, it's an important part of the growth this year. Just talk to kind of where the compliance rates are today? Is it kind of gradual increases that are assumed. Are there big changes ahead that you can even drive a step function change in compliance? Just kind of talk through that rescreen. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 03, 2025 / 3:30PM, EXAS.OQ - Exact Sciences Corp at TD Cowen Healthcare Conference

Question: Daniel Brennan - TD Cowen - Analyst : Terrific. Maybe jump over to the pipeline starting with Cologuard blood. I think back in the fall and then on the Q4 call, you're very clear confidence that planning is exactly in line with where you were last year. So I'm just wondering if you could discuss the test results that you reported back in September. We're really impressive, got people excited. How do we think about where ultimately you think that test could land in the summertime when I think there's a time frame at which you're going to kind of turn over the card and report it out. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 03, 2025 / 3:30PM, EXAS.OQ - Exact Sciences Corp at TD Cowen Healthcare Conference

Question: Daniel Brennan - TD Cowen - Analyst : Maybe just one more. I mean that novel biomarker, which I think when you were at the Q2 call last year and then you got to September, looks like performance that 31% was certainly better than I think most of us expected. And sounds like there was a novel bar market that contributed. Just maybe any color just in terms of the ability for you to differentiate, you think, on AA. We know where the existing player is on AA in the marketplace today. Just kind of wondering how you think about kind of just broadly the benefit of AA of your test.

Question: Daniel Brennan - TD Cowen - Analyst : Okay. Maybe jumping over to MRD. The your plans to launch Oncodetect and CRC in the second half of -- maybe could you just speak through the profile of that test, kind of why -- what your strategy is there and kind of what we can expect between now and kind of the plans to launch.

Question: Daniel Brennan - TD Cowen - Analyst : Okay. Maybe just on -- we have about a minute or two. Maybe multicancer, that's another product that's going to be coming out of the pipeline this year. I think you're going to be the self-pay market. Just speak about like what that opportunity is before there's going to be covered, just how do we think about your multicancer platform?

Question: Daniel Brennan - TD Cowen - Analyst : Great. So I think with that, Kevin, we're out of time. So Kevin, Aaron, thanks for being with us, and thanks for being here as well.