Exact Sciences Makes Its Expansion Plans Public
The first public disclosure of the breadth of Exact Sciences Corp.'s physical expansion of facilities was big news in the company's adopted hometown of Madison, Wisconsin, but it was widely known at Flad, where lab planning work continues on the largest of the three building sites in the city. Exact Sciences has experienced rapidly growing demand for its Cologuard home test kit for colorectal cancer and has sought additional space to aid in the development of other potential cancer testing products.
Exact Sciences' quarterly financial report filed with the U.S. Securities and Exchange Commission showed $308 million in construction contracts spanning 2018 and 2019, when the company will have completed an addition to its existing Cologuard processing lab on the east side of Madison, an expansion of two of its three buildings in University Research Park, and construction of a new clinical testing and manufacturing facility, warehouse and parking garage at a new site near University Research Park. Its SEC filing showed a jump in revenue from $48.4 million in the first quarter of 2017 to $90.3 million during the same period of time in 2018.
Flad's involvement in the project, which began last September, includes lab planning, lab construction documents and peer review. Work on the labs comprises space for clinical diagnostic testing as well as cGMP production labs for the manufacture of regulated buffers. To support its long-term growth and emergent product pipeline, Exact Sciences' primary sample processing facility will be maintained even after the completion of the three concurrent projects late in 2019, at which time the company will have the capacity to process as many as 5 million Cologuard tests per year.
Images courtesy of Exact Sciences
September 09, 2018