Exact Sciences (EXAS) Climbs to 2-Year High on Abbot Merger Reports

Core Insights - Exact Sciences Corp. is experiencing significant stock performance, reaching a two-year high amid acquisition talks with Abbott Laboratories, potentially marking Abbott's largest acquisition to date [1][2]. Stock Performance - During intra-day trading, Exact Sciences' stock peaked at $89.67, ultimately closing up by 23.68% at $86.18 [2]. Acquisition Talks - Exact Sciences and Abbott Laboratories are reportedly in advanced discussions regarding the acquisition, with a potential announcement expected in the coming weeks [3]. Financial Performance - Exact Sciences narrowed its net loss for Q3 by 48.77%, reporting a loss of $19.59 million compared to $38.24 million in the same quarter last year [4]. - Revenues for the same period increased by 20%, reaching $850.7 million, up from $708.6 million year-on-year, driven by strong performance in screening and precision oncology segments [4]. Future Guidance - The company raised its full-year revenue guidance to a range of $3.22 billion to $3.235 billion, up from a previous estimate of $3.13 billion to $3.17 billion [5]. - Adjusted EBITDA guidance was also increased to $470 million to $480 million, compared to the earlier range of $455 million to $475 million [5].