Exact Sciences Corporation

Ladies and gentlemen, thank you for standing by and welcome to the Exact Sciences Agreement to Acquire Thrive and Third Quarter Earnings Results. At this time, all participant lines are on mute. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star one on your telephone. If you require any further assistance, please press star zero. I would now like to turn the call over to your speaker today. Megan Jones, Director of Investor Relations. Please go ahead.

Thank you and good morning. Welcome to our conference call to discuss Exact Sciences' acquisition of Scribe, which we announced earlier this morning. In conjunction with today's announcement, Exact Sciences issued financial results for the third quarter of 2020, which are available on our website. During today's call, we will make forward-looking statements based on current expectations. Our actual results may be materially different from such statements. Descriptions of the risks and uncertainties associated with exact sciences are included in our SEC filings, which can be accessed through our website. These forward-looking statements are not guarantees of future performance or events, and actual results or events could differ materially. I encourage you to take a look at slide two of the presentation and our filings with the SEC for a discussion of forward-looking statements and the risks and uncertainties that could impact actual results or events. On the call today are Kevin Conroy, our Chairman and CEO, Jeff Elliott, our Chief Financial Officer, and Dave Daly, CEO of Thrive. After the prepared remarks, we'll open it up for Q&A. Please limit yourself to one question and one follow-up so we can keep the call to one hour. With that, I'll now turn the call over to Kevin Conroy, Exact Sciences CEO.

Thank you, Megan. Welcome, everyone, and thank you for joining us this morning. I'm thrilled to discuss our acquisition of Thrive, which we see as a giant leap forward towards ensuring blood-based multi-cancer screening becomes a reality and eventually the standard of care. This supports our mission to detect more cancers earlier, and it puts us at the forefront of an incredible opportunity to serve patients. We have long respected the Thrive team for their rigorous scientific approach. We participated in both funding rounds as an investor, and we are proud to take our partnership to the next level. There are three powerful benefits of this acquisition that I'll walk through today. First, the combination creates a premier R&D team specializing in methylation, next generation sequencing, and bioinformatics in liquid biopsy with robust clinical and evidence generation capabilities. We believe that this combined team can transform the future of cancer diagnostics. Second, we believe Exact Sciences is uniquely equipped to accelerate the approval, availability, and widespread adoption of multi-cancer screening. Third, the addition of Thrive advances Exact Sciences' role as a leader in a $25 billion market and demonstrates our capabilities as a research and commercialization partner of choice. As you've heard us discuss, the need to detect the deadliest cancers at earlier, more treatable stages is urgent. We believe multi-cancer screening will have a powerful impact on outcomes. Cancer is the number two cause of death in the U.S. For people under the age of 85, it is the number one cause of death, even though it's often treatable in early stages. Because cancer is so prevalent, the promise of screening for many cancers in one test is even more powerful than screening for individual cancers as we do today. This is especially true when combining the prevalence of rare cancers. With a multi-cancer screening test, you could screen as few as 30 people to detect one cancer compared to hundreds or thousands for single cancers. The potential impact of that vision is remarkable. That is why we are so committed to making it a reality together with Thrive as rapidly as possible. I'll now turn the call over to David Daly, CEO of Thrive, to provide you with some background on Thrive and why it fits perfectly within our company and mission.