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Exact Sciences Announces Filing of Shelf Registration Statement

^{Published on 2010-08-17 14:05:32 - Market Wire}
 

MADISON, Wis.--([ BUSINESS WIRE ])--Exact Sciences Corp. (Nasdaq: EXAS) today announced that it has filed with the Securities and Exchange Commission a universal shelf registration statement on Form S-3 providing for the offer and sale from time to time of up to $150 million of securities, including equity, debt and other securities as described in the registration statement.

While Exact does not have any immediate plans to offer securities under this shelf registration, it is intended to give the company the flexibility to take advantage of financing opportunities as needed or deemed desirable in light of market or other conditions.

The registration statement has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the shelf registration statement becomes effective. The terms of any offering under the shelf registration statement will be determined at the time of offering. Proceeds from the sale of any securities will be used for the purposes described in a prospectus supplement filed at the time of an offering.

This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering of the securities covered under the shelf registration statement will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering.

About Exact Sciences Corp.

Exact Sciences Corp. is a molecular diagnostics company focused on the early detection and prevention of colorectal cancer. The company has exclusive intellectual property protecting its non-invasive, molecular screening technology for the detection of colorectal cancer. Stool-based DNA technology is included in the colorectal cancer screening guidelines of the American Cancer Society and the U.S. Multi-Society Task Force on Colorectal Cancer. For more information, please visit the companya™s website at [ www.exactsciences.com ].

Certain statements made in this presscontain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, that are intended to be covered by the asafe harbora created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as abelieve,a aexpect,a amay,a awill,a ashould,a acould,a aseek,a aintend,a aplan,a aestimate,a aanticipatea or other comparable terms. Forward-looking statements in thispress releasemay address the following subjects among others: statements regarding the sufficiency of our capital resources, expected operating losses, expected license fee revenues, expected research and development expenses, expected general and administrative expenses and our expectations concerning our business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Managementa™s Discussion and Analysis of Financial Condition and Results of Operations sectionsof ourmost recently filedAnnual Report on Form 10-Kand oursubsequently filedQuarterly Reports on Form 10-Q. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.