The reason - getting a colonoscopy is an unappealing procedure: it's invasive, it's uncomfortable, and you have to fast while drinking gallons of colon cleanse beforehand.
"This is where Exact Sciences comes in," explained Cramer.
"They've developed a totally non-invasive stool test—just collect a sample at home at your leisure and send it into the lab—that can detect colon cancer with over 90% sensitivity, and it can catch pre-cancerous cells, too."
Cramer added the test is not intended to replace getting a colonoscopy, but it can tell you whether you really need one, and – perhaps more important - it could ultimately help catch colon cancer much earlier.
"Now, so far the data has been pretty darned positive, and the FDA is expected to render its decision on whether to approve the test next year. Almost as important, the government agency that oversees Medicare reimbursement is reviewing the test parallel with the FDA, which means they could decide whether or not to pay for it right after it potentially gets approved," Cramer added.
Of course that's not to say there aren't concerns about the stock. There are. There's a potentially high price for the test and there are rivals in the field.
Despite those concerns Cramer said the stock looks like an intriguing opportunity.
"I initially got behind Exact Sciences in October of 2010 and the stock is up 34.4% since then. If all goes well, and this is speculative so that's a genuine if, then this stock could have a lot more room to run," he said.
Learn more about this company. Hear from Kevin Conroy, the President and CEO of Exact Sciences in the video above.