The short seller who uncovered Valeant has found his next target in health care

Citron research's Andrew Left, who won notoriety for a success bets in opposition to groups which include Valeant prescribed drugs, published a bearish report on most cancers trying out corporation precise Sciences.
the quick dealer noted the low range of test orders in line with medical doctor, in keeping with his analysis, and the capability for reduced reimbursement pricing from Medicare within the destiny.Citron research's Andrew Left, who received notoriety for a hit bets towards companies together with Valeant pharmaceuticals, published a bearish report on most cancers testing organisation specific Sciences.

stocks of precise Sciences closed down almost 4 percent Monday after the fast seller launched his record.

"actual Sciences pushes a cancer test (Cologuard) to the public, inferior via its very own admission, and loses cash doing it," Left wrote in the observe. "all of us who follows the panorama of diagnostic cancer testing is aware of that the whole thing is shifting toward blood-based totally DNA checking out. Any health practitioner within the discipline will let you know it is just a remember of time."

the short vendor additionally stated the low wide variety of check orders in step with physician, according to his evaluation, and the capability for reduced reimbursement from Medicare in the future.precise Sciences has "an inferior test that they're seeking to compensate with the aid of jogging classified ads for those who are afraid to get a colonoscopy," Left said Monday on CNBC's "Halftime report." "they are dropping cash promoting an inferior product."

but, precise Sciences CEO Kevin Conroy fired lower back on CNBC directly at the fast seller.

Left "is lifeless incorrect," Conroy said. "Blood-primarily based assessments could be very unlikely to ever displace every other assessments. You want to hit upon degree one cancers and also you just can not do this reliably from blood."

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exact Sciences has "an inferior check that they are seeking to compensate by way of strolling commercials for individuals who are afraid to get a colonoscopy," Left stated Monday on CNBC's "Halftime record." "they're losing cash promoting an inferior product."
however, genuine Sciences CEO Kevin Conroy fired back on CNBC directly at the short vendor.
Left "is useless incorrect," Conroy said. "Blood-based totally tests could be very unlikely to ever displace another assessments. You want to stumble on stage one cancers and also you simply can not do that reliably from blood.".