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CEO fires back at short-seller Citron on live TV: 'Mr. Left is dead wrong'

  • CEO Kevin Conroy and short-seller Andrew Left clash over Citron Research's recent report.
  • Conroy says Left is "dead wrong."
  • Left fires back, "This company could go away tomorrow and it wouldn't make a difference."

    Exact Sciences Chairman and CEO Kevin Conroy fired back at a bearish assessment made by Citron Research's Andrew Left, who predicted a long-term drop in the cancer testing company's stock to a near-zero single digit.

    Citron said in a report on Monday that Exact Sciences' Cologuard cancer test, an at home screening for colon cancer, is "inferior" and shouldn't be pitching it as an alternative to a colonoscopy.

    The short-seller also cited the low number of test orders per doctor, according to his analysis, and the potential for reduced reimbursement from Medicare in the future.

    Left added that doctors in the field are likely moving towards blood-based DNA testing.

    In an interview on CNBC's "Halftime Report," Conroy clashed with Left over the analysis of the company saying a blood-based test is very unlikely to displace his company's test, which uses stool.

    "Mr. Left is dead wrong," said Conroy, in a rare public exchange between a short-seller and their target.

    "You want to detect stage 1 cancer and you just can't do that reliably from blood," the CEO said.

    Left fired back, "This company could go away tomorrow and it wouldn't make a difference."