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The company released new data showing that Cologuard 2.0 can detect colorectal cancer with higher sensitivity than the current version of the test.
Exact said it will pay $72 per share for Genomic Health for a total transaction price of $2.8 billion in cash and stock.
The firm reported that test volumes for its Cologuard colorectal cancer screening test also rose 79 percent year over year.
