Exact Sciences is evaluating two potential sites where it would house a second lab for processing results of its flagship product Cologuard, a stool-based DNA test for colorectal cancer, the Wisconsin State Journal reported. Madison-based Exact (NASDAQ: EXAS) said it completed 244,000 tests of Cologuard in 2016, and expects to complete 470,000 tests this year. One of the sites the company is reportedly considering used to be operated by Spectrum Brands (NYSE: SPB), also based in the Madison area, whose subsidiaries include Remington appliances and Rayovac batteries.
—Fitchburg-based Promega said it plans to seek FDA approval for one of its products for the first time. The product—a test that doctors would use to make decisions around diagnosing and treating patients with colorectal cancer—has been in use since 2004, but has only been used as a lab-developed test (and therefore is not subject to the same FDA oversight as other diagnostics). Promega pointed to a landmark FDA drug approval decision earlier this year as one factor that led to the company’s decision to seek regulatory approval for the assay. Read the full story here.