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Mdxhealth Acquires Oncotype DX® GPS Prostate Cancer Business from Exact Sciences and Reports Preliminary Half Year 2022 Results
NEWS RELEASE – INSIDE AND REGULATED INFORMATIONAugust 2, 2022, 4:00PM EDT / 22:00 CET Mdxhealth Acquires Oncotype DX® GPS Prostate Cancer Business from Exact
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[{"type":"text","content":"NEWS RELEASE – INSIDE AND REGULATED INFORMATIONAugust 2, 2022, 4:00PM EDT / 22:00 CET Mdxhealth Acquires Oncotype DX® GPS Prostate Cancer Business from Exact Sciences and Reports Preliminary Half Year 2022 Results Solidifies leadership in the precision diagnostics urology marketProvides the most comprehensive menu of advanced molecular tests for urology in prostate cancerEnhances scale with best-in-class commercial channel into urology communityExact Sciences to take portion of initial payment in common stock of mdxhealthRaising previously issued FY 2022 mdxhealth revenue guidance to $27-29 millionIncluding Oncotype DX GPS, mdxhealth now projected to deliver $40-42 million in revenue in FY 2022 ---Conference Call and Webcast Today at 4:30PM ET/ 10:30PM CET IRVINE, CA, and HERSTAL, BELGIUM – August 2, 2022 – MDxHealth SA (NASDAQ/Euronext: MDXH) (\"mdxhealth\" or the \"Company\"), a commercial-stage precision diagnostics company, today announced it has entered into an asset purchase agreement with Genomic Health, Inc., a subsidiary of Exact Sciences Corporation (\"Exact Sciences\"), to acquire the Oncotype DX® GPS (Genomic Prostate Score®) test from Exact Sciences along with most of its team of urology sales and marketing professionals. This addition further solidifies the Company’s leadership in the precision diagnostics urology market. Additionally, the Company reported strong preliminary financial results for the half year ended June 30, 2022 and raised its current full year 2022 revenue guidance. Michael McGarrity, CEO of mdxhealth, commented: “We are excited to announce this transformational acquisition of Oncotype DX GPS, a broadly commercialized and clinically validated test available today across the urology community, expanding mdxhealth’s current menu of tests targeted into urology and prostate cancer and reflecting our strategy to generate sustainable growth. After discussions with the Exact Sciences team, it became clear to both companies the substantial value we could unlock by adding the Oncotype DX GPS test to mdxhealth’s molecular test menu of Select mdx and Confirm mdx as well as our newly launched advanced molecular test for urinary tract infections (UTIs). We look forward to welcoming Exact Sciences’ Oncotype DX GPS prostate commercial team to mdxhealth, increasing our commercial footprint and providing this new...