Exact Sciences Corp. (Nasdaq: EXAS) today announced the promotion of Maneesh K. Arora to the position of chief operating officer. Mr. Arora will continue in his role as the company’s chief financial officer.
“Maneesh is an invaluable partner and a respected leader both inside and outside the company,” said Kevin T. Conroy, Exact’s president and chief executive. “He is overseeing our multi-center DeeP-C study, which will be one of the largest colorectal cancer screening trials ever completed. Maneesh also has been instrumental in building the company’s manufacturing operations to support not only the clinical trial, but also the commercialization of our Cologuard™ test once it’s approved by the FDA.
“Maneesh has handled these and other important initiatives with great skill, all while ensuring the company’s continued financial strength as chief financial officer. This promotion recognizes all the contributions Maneesh has made and will continue to make to the company and our shareholders, partners and customers,” Mr. Conroy said.
Mr. Arora, 43, was appointed Exact’s senior vice president and chief financial officer in March 2009. Before joining Exact, he was senior vice president and chief financial officer of Third Wave Technologies Inc., a molecular diagnostics company that was acquired by Hologic Inc. in June 2008. While at Third Wave, he helped manage the clinical trials and FDA submissions of its human papillomavirus and cystic fibrosis tests.About Exact Sciences Corp. Exact Sciences Corp. is a molecular diagnostics company focused on 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 company’s website at www.exactsciences.com. Certain statements made in this news release contain 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 “safe harbor” 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 “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “estimate,” “anticipate” or other comparable terms. Forward-looking statements in this presentation may address the following subjects among others: statements regarding the sufficiency of our capital resources, expected operating losses, anticipated results of our pivotal clinical trial, 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 Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Reports of 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.
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