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The Associated Press December 5, 2011, 4:38PM ET

Exact Sciences says it plans stock offering

Molecular diagnostics company Exact Sciences Inc. said Monday it plans to raise money by selling additional shares of stock.

Exact Sciences did not say how many shares it plans to sell or what it will do with the proceeds. It said Robert W. Baird & Co. will be the book-running manager for the offering, and William Blair & Co. will be the co-manager.

Exact Sciences had 52.9 million shares on the market as of Nov. 4. Its shares have traded between $4.91 and $9.45 in the last year, and on Monday, they fell 15 cents to $8.39.

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