Exact Sciences Sues Rival Geneoscopy Related To Colon Cancer Test Cologuard Patent
Portfolio Pulse from Vandana Singh
Exact Sciences Corp has filed a patent infringement lawsuit against Geneoscopy for allegedly infringing on its Cologuard colon cancer test patent. The lawsuit aims to halt Geneoscopy's ColoSense product and seeks damages. Exact Sciences claims its patented technology is vital for at-home fecal sample collection that preserves biomarkers for lab analysis. The company had previously sent a cease-and-desist letter to Geneoscopy, which led to a failed challenge of the patent at the USPTO. Exact Sciences' shares rose 7.77% to $65.92 following the news.
November 17, 2023 | 7:49 pm
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POSITIVE IMPACT
Exact Sciences Corp has initiated legal action against Geneoscopy for patent infringement, which could potentially protect its market share for the Cologuard test. The company's stock price has increased following the announcement.
The initiation of a patent infringement lawsuit by Exact Sciences against Geneoscopy is a strong defensive move to protect its Cologuard product's market exclusivity. The positive reaction in stock price suggests investor confidence in the company's legal stance and the potential to maintain its competitive edge. The increase in stock price reflects the market's short-term positive perception of the lawsuit's potential to safeguard Exact Sciences' revenues from its flagship product.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100