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July 22, 2014
07:08 EDTVIVO, EXAS, QDEL, DGX, ABAX, IDXXLife Sciences highlights this week at Canaccord
Canaccord highlighted six diagnostic names that report this week and recommends buying Top Pick IDEXX (IDXX) into the print given strong recurring razor/razorblade sales and consistent organic growth. The analyst expects Hold rated Quest Diagnostics (DGX) to report upside to Street estimates of $1.06/$1.882B, Quidel (QDEL) to have an uneventful report, Exact Sciences (EXAS) to provide an update on numerous catalysts near-term and Abaxis (ABAX) to report earnings below consensus. Lastly, the firm is cautious on Meridian Bioscience (VIVO) following a competitor report last week.
News For IDXX;DGX;EXAS;ABAX;QDEL;VIVO From The Last 14 Days
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December 22, 2014
08:10 EDTQDELQuidel to benefit from acceleration in flu incidence, says Canaccord
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December 19, 2014
17:32 EDTEXASCMS provides update on reimbursement for Cologuard
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15:48 EDTEXASExact Sciences CMS lobbying may take several months, says Maxim
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15:33 EDTEXASExact Sciences says working with CMS to clarify Cologuard reimbursement
Exact Sciences said the reimbursement amount published today for Cologuard in the 2015 Clinical Diagnostic Laboratory Fee Schedule is inconsistent with what the Centers for Medicare and Medicaid Services, or CMS, publicly communicated on November 25 when CMS issued a final payment decision for Cologuard using the crosswalk methodology to CPT codes 81315, 81275, and 82274. Utilizing the crosswalk methodology based on the updated 2015 fee schedule the total for these codes is $500.76. Exact Sciences is working with CMS to clarify and will communicate more information once it becomes available. CMS has a process to establish payment rates for clinical laboratory tests and Exact Sciences followed that process. On July 11, Exact Sciences proposed a crosswalk methodology for Cologuard to CPT codes, 82274, 81275 and 81315. CMS agreed with that crosswalk methodology when they published their preliminary payment recommendation on October 11. CMS received public comments on that recommendation and on November 25 published their final recommendation which affirmed the crosswalk methodology, the company noted.
15:06 EDTEXASExact Sciences CMS confusion seen as clerical error, says Canaccord
Canaccord said management of Exact Sciences are attributing confusion around the code used for reimbursement of its Cologuard test to a clerical error at CMS and that the company has reached out to resolve the issue. A national diagnostics expert also said the CMS update is likely a clerical error, the firm noted. Canaccord has a Buy rating and $30 price target on Exact Sciences.
12:58 EDTEXASExact Sciences slips amid questions on Cologuard reimbursement
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December 18, 2014
06:18 EDTDGXRedHill Biopharma acquires techonology from University of Minnesota
RedHill Biopharma (RDHL) has entered into a license agreement with the University of Minnesota to acquire the rights to a patented technology to support the development of a commercial diagnostic test for detection of Mycobacterium avium subspecies paratuberculosis bacterium. RedHill's Crohn's disease program RHB-104, currently undergoing a first Phase III study, is based on evidence that Crohn's disease is caused by MAP infection in susceptible patients. As part of development for RHB-104, RedHill is developing, in collaboration with Quest Diagnostics (DGX), a diagnostic test to aid in detecting the presence of MAP in whole blood. RedHill will pay the University of Minnesota a one-time upfront payment and an additional potential milestone payment for the licensed technology. A pre-submission meeting with the FDA to discuss the development path for the diagnostic test is scheduled for January 2015.
December 17, 2014
18:49 EDTQDELQuidel's Sofia immunoassay receives FDA clearance and CLIA waver
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December 16, 2014
09:16 EDTEXASOn The Fly: Pre-market Movers
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09:05 EDTEXASExact Sciences 4M share Spot Secondary priced at $25.75
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December 15, 2014
16:15 EDTEXASExact Sciences files automatic mixed securities shelf
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16:09 EDTEXASExact Sciences files to sell 4M shares of common stock
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December 11, 2014
14:43 EDTEXASExact Sciences management to meet with William Blair
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December 10, 2014
16:31 EDTQDELQuidel receives FDA clearance for AmpliVue test for Bordetella Pertussis
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08:04 EDTIDXXIDEXX price target raised to $160 from $153 at Canaccord
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December 9, 2014
07:44 EDTDGXAmerican Association for Cancer Research to hold a symposium
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