01:18 PM EDT, 08/01/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph.)

Exact Sciences ( EXAS ) shares jumped nearly 24% in recent Thursday trading, a day after the company posted Q2 results ahead of analysts' estimates and signed a license agreement with TwinStrand Biosciences.

The company reported a Q2 diluted loss late Wednesday of $0.09 a share, narrowing from a loss of $0.45 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.33.

Revenue in the quarter ended June 30 rose to $699.3 million from $622.1 million a year ago.

Analysts polled by Capital IQ expected $690.1 million.

Exact Sciences ( EXAS ) reiterated its full-year revenue guidance of $2.81 billion to $2.85 billion. Analysts polled by Capital IQ expect $2.83 billion.

Exact Sciences ( EXAS ) also entered an exclusive agreement to license TwinStrand Biosciences' patent estate in cell free nucleic acid sequencing.

Financial terms weren't disclosed in a statement Wednesday by TwinStrand.

TwinStrand's Duplex Sequencing technology is designed to improve the accuracy of cancer screening.

Price: 56.53, Change: +10.85, Percent Change: +23.75