Read Larry Connors' blog – Short Term Trading Strategies
Kevin T. Conroy will be president and chief executive and Maneesh K. Arora will be senior vice president and chief financial officer for Exact Sciences Corp. The jobs, which take effect April 2, are similar to those they held at Third Wave, a Madison company that was acquired last year by Hologic Inc. for $582 million.
Exact is based in Marlborough, Mass., but Conroy said that may change.
"We will consider Wisconsin as a place to build the company going forward," he said.
Exact makes DNA-based tests for detecting cancer and sells a test for colorectal cancer that has not yet received Food and Drug Administration approval.
Conroy and Arora's "unique experience with the development of complex molecular diagnostic products and successful management of both clinical and regulatory programs is precisely what Exact needs at this stage in the company's development," Patrick J. Zenner, the company's chairman, said in a statement.
Without FDA approval and broad coverage and reimbursement from insurance companies, it's challenging to get widespread adoption of tests, Conroy said. Exact has some competition, but is furthest along and has the broadest intellectual property portfolio, he said.
Exact's news follows the FDA's approval earlier this month of the two human papillomavirus molecular diagnostic tests that were developed and taken through clinical trials by Third Wave under Conroy and Arora.
A number of home-grown, high-tech Wisconsin companies like Third Wave have been acquired by out-of-state firms in recent years. It's a healthy sign to see experienced leaders like Conroy and Arora consider bringing new companies in, said Tom Still, president of the Wisconsin Technology Council.
"Kevin Conroy is an example of the evolution of management talent in Wisconsin which, over the long run, will create a boomerang effect for the state," Still said.
To see more of the Milwaukee Journal Sentinel, or to subscribe to the newspaper, go to http://www.jsonline.com. Copyright (c) 2009, Milwaukee Journal Sentinel Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
