Exact Sciences said Thursday its Q1 loss was $0.32 per share, narrower than the $0.49 per share loss in the same period a year ago and better than the $0.41 per share loss expected by analysts at Capital IQ. Shares were up over 17% in recent pre-market, on track to hit a new high since July 2015 if gains hold through regular trade. The stock has a 52-week range of $5.36 to $25.18. The company noted in a regulatory filing it had 9.2 million shares outstanding in Q1 of this year, compared with 11.7 million shares outstanding in the same period of 2016.
The company added its revenue for Q1 was $48.4 million, up significantly from $14.8 million in the same period last year and beating analyst estimates of Q1 revenue of $37.4 million. Exact Sciences also expects FY17 revenues of $195 million to $205 million, up from a prior view for $170 million to $180 million and above the $178.0 million consensus.