Exact Sciences Corporation (NASDAQ:EXAS) Q2 2022 Earnings Conference Call August 2, 2022 5:00 PM ET

Company Participants

Megan Jones - Senior Director, Investor Relations

Kevin Conroy - Chairman & Chief Executive Officer

Jeff Elliott - Chief Financial Officer & Chief Operating Officer

Everett Cunningham - Chief Commercial Officer

Conference Call Participants

Derik De Bruin - Bank of America

Brandon Couillard - Jefferies

Brian Weinstein - William Blair

Catherine Schulte - Baird

Dan Brennan - Cowen

Vijay Kumar - Evercore ISI

Dan Arias - Stifel

Patrick Donnelly - Citi

Jack Meehan - Nephron Research

Mark Massaro - BTIG

Puneet Souda - SVB Securities

Kyle Mikson - Canaccord

Alex Nowak - Craig-Hallum Capital Group

Operator

Good day, and welcome to the Exact Sciences Second Quarter 2022 Earnings Call. Today's call is being recorded.

I would now like to turn the call over to Megan Jones, Senior Director of Investor Relations. Please go ahead.

Megan Jones

Thanks for joining us for Exact Sciences' Second Quarter 2022 Conference Call. On the call today are Kevin Conroy, the company's Chairman and CEO; and Jeff Elliott, our Chief Financial Officer and Chief Operating Officer; Everett Cunningham, our Chief Commercial Officer, will also be available for questions.

Exact Sciences issued in this release earlier this afternoon detailing our second quarter financial results. This news release and today's presentation are available on our website at exactsciences.com.

During today's call, we will make forward-looking statements based on current expectations. Our actual results may have material differences from such statements. Reconciliations to GAAP figures are available in our earnings press release, and descriptions of the risks and uncertainties associated with Exact Sciences are included in our SEC filings. Both can be accessed through our website.

I'll now turn the call over to Kevin.

Kevin Conroy

Thanks Megan. During the second quarter, the team made several advancements toward our vision to eradicate cancer through earlier detection and smarter answers for patients and their health care providers. The highlights from the quarter include being a Great Place to Work certified for the fourth consecutive year, screening more than 700,000 people for colon cancer with Cologuard, securing an improved position in ASCO guidelines for Oncotype DX Breast as the preferred test for early-stage breast cancer patients, improving our path to profitability and cash liquidity position.

Cutting adjusted EBITDA loss in half quarter-over-quarter, showcasing the breadth of our screening and precision oncology pipeline with 13 abstracts at ASCO. Making progress towards completing BLUE-C, our pivotal study to support our next-generation Cologuard and colon cancer blood test, publishing evidence for our tumor minimum residual disease testing colon cancer.