Shares of EXACT Sciences Corporation (NASDAQ:EXAS) ended Monday session in green amid volatile trading. The shares closed up +0.24 points or 1.27% at $19.07 with 3.09 million shares getting traded. Post opening the session at $18.17, the shares hit an intraday low of $17.61 and an intraday high of $19.08 and the price vacillated in this range throughout the day. The company has a market cap of $1.94 billion and the numbers of outstanding shares have been calculated to be 106.77 million shares.
EXACT Sciences Corporation (EXAS) on Aug. 15, 2016 announced that the Centers for Medicare and Medicaid Services (CMS) issued an updated Evidence of Coverage notice for Medicare Advantage plans that affirms such plans must include coverage of Cologuard every three years without patient coinsurance, copayments or deductibles.
“The CMS update assures patients and physicians that Cologuard is covered by Medicare Advantage plans without any out-of-pocket costs,” said Kevin Conroy, chairman and CEO of Exact Sciences. “The update is also significant because it reflects CMS’ recognition that Cologuard is an A-graded preventive service under the recently updated USPSTF colorectal cancer screening recommendations. CMS requires Medicare Advantage plans to cover A-graded services without patient cost sharing.”
Shares of GlaxoSmithKline plc (ADR) (NYSE:GSK) ended Monday session in green amid volatile trading. The shares closed up +0.80 points or 1.88% at $43.30 with 3.21 million shares getting traded. Post opening the session at $42.50, the shares hit an intraday low of $42.48 and an intraday high of $43.35 and the price vacillated in this range throughout the day. The company has a market cap of $102.84 billion and the numbers of outstanding shares have been calculated to be 4.87 billion shares.
On September 4, 2016 GlaxoSmithKline plc (LSE/NYSE:GSK) and Innoviva, Inc. (INVA) announced that the results from the pioneering Salford Lung Study (SLS) have been published in the New England Journal of Medicine (NEJM). This unique study, which reported headline results in May 2016, was designed to evaluate the effectiveness and safety of Relvar® Ellipta® in patients with chronic obstructive pulmonary disease (COPD), compared with their ‘usual care’ administered in an everyday clinical practice setting. Data from the study are being presented at the European Respiratory Society (ERS) International Congress on Sunday 4th September in London, (abstract number OA249).
For the primary endpoint in patients, who had exacerbated in the year before the study, treated with Relvar Ellipta 100/25mcg (fluticasone furoate ‘FF’/vilanterol ‘VI’ or ‘FF/VI’) there was a statistically significant reduction of 8.4% (p=0.025; 95% CI 1.1 to 15.2) in the rate of moderate or severe exacerbations compared with patients receiving ‘usual care’. The majority of these patients in the study on usual care were taking an inhaled corticosteroid (ICS) containing regimen (88%). A similar reduction in exacerbations with FF/VI was seen in those patients on a treatment that included an ICS/ long-acting beta2-agonists (LABA) at baseline (8.0%; p=0.047; 95% CI 0.11 to 15.4).
For the ITT population there were no differences observed between FF/VI and usual care on secondary outcomes measured including the time to first moderate or severe exacerbation and rate of severe exacerbations, the rate of secondary care healthcare contacts and COPD related primary care contacts. There were more primary care contacts overall on FF/VI (12.3% increase, 95% CI 5.4 to 19.6). The COPD Assessment Test (CAT), which measures the impact of disease on health status, demonstrated 45% of patients receiving FF/VI improved their CAT score by 2 or more, a clinically relevant improvement, compared to 36% in the usual care group (odds ratio 1.51, 95% CI, 1.28 to 1.77).